Application for Registration for TCS collector is to be filed in REG-07. Registration certificate to be issued in REG-06.
With the Finance Minister resolute on introducing GST on 1st July 2017, businesses are left with no choice but to get ready for the most awaited tax reform.
The GST legislation contains an anti-profiteering clause which mandates manufacturers and others in the supply chain to pass on the benefits arising due to GST transition to consumers.
The Goods & Services Tax is one step closer to reality with the rates of most products being announced yesterday, May 18, 2017. Based on the proposed rates, it does
Australia is said to be the first country to introduce an anti-profiteering provision during GST introduction in the year 2000, followed by Malaysia in the year 2015.
The government seems resolute to bring in the GST regime soon. With activity happening at a frantic pace, it might not be too long before the new tax regime kicks in.
The GST regime has the potential to change the Indian reporting framework for good. The benefits are for all to enjoy: Enterprises, Regulators and the Banking system.
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