GST structure: key challenges and its solutions

Govt on several occasions has given clarifications to reduce ambiguities and make the process smooth and easy.

Govt extends deadline for filing TDS returns for Oct-Dec to Jan 2019

The TDS provisions under the goods and services tax (GST) were brought into effect from October 1, 2018.

GST rate of output supply is lower than the GST rate on inputs used for their manufacture.

GST will provide a huge fillip to the industry in the medium to long term as the tax compliance.

Council, headed by Arun Jaitley, also likely to finalise definition of 'agriculture' and 'agriculturist'.

GST Council has fixed the four-tier structure of 5 per cent, 12 per cent, 18 per cent and 28 per cent.

GST would also contribute greatly to smooth logistics and supply chain efficiency across states.

Under the IPC 1860, forgery and cheating are non- bailable offence, which means that bail can only be granted by a court.

GST Council is not in favour of giving powers to the official auditor under the new GST law.

The model GST law provides for 1 per cent TDS to be deducted by the E-commerce operators.