Page 2 - Gst Network News Today

Individuals may soon get rewarded for uploading GST invoice on a mobile app as the government is likely to launch the long awaited Mera Bill Mera Adhikar scheme soon. Under the invoice incentivisation scheme, cash prize of Rs 10 lakh to Rs 1 crore monthly/quarterly could be given to individuals who upload invoice received from retailer or wholesaler on the app, two officials told PTI.

The 50th GST Council meeting concluded with a reduction in GST rates on certain items, exemption of GST on imported pharma products, and a 28% tax on online gaming. Also, a host of items saw GST rate reduction to 5% from the earlier 18% tax bracket.

These changes have been made under Section 66 of the PMLA, which provides for disclosure of information

The implementation of the said order will give more power to the Enforcement Directorate and the anti-money laundering agency to act against tax evasion within GSTN.

The survey said 80 per cent of business leaders in India have expressed that the time is ripe for the next phase of GST regime reforms for enhanced ease of doing business (EoDB) and sectoral growth in the next few years.

Around 45 per cent of the returns filed on April 20 were either NIL returns or were such returns where no tax was paid in cash.

GST Network has asked taxpayers to plan well in time for filing returns and uploading invoices and advised them to avoid last minute rush. GST Network | BLiTZ

3D printing has been making a big impact in the world of technology, providing a cost-effective and efficient way to manufacture a wide range of products. However, like any other technology, it still has room for improvement. One area where 3D printing can be improved is its efficiency.

A structural revamp is necessary.

This new functionality will compute the minimum interest applicable on the basis of the values declared by the taxpayers in GSTR-3B for a particular tax period, GSTN said in an advisory.