Page 142 - Gst

2.7 mn assessees yet to fully migrate to GST portal

As many as 2.7 million of the 7.1 million who were assesses under the pre-goods and services tax (GST) system and have activated their accounts on the latter portal, are yet to complete the entire enrolment process.As a result, they are yet to file returns, said GST Network, the body handling the system's information technology backbone."If you have activated your provisional ID for migrating to GST but not completed all the enrolment formalities, you might be heading for a dead end at the time of filing GST returns," GSTN said.After the initial process of activation of the provisional ID, a taxpayer has to fill Part-B of the enrolment form at the GST portal, providing relevant information regarding the business, including the authorised signatory. Submission of the completed form with digital signature certificate or electronic verification code entitles the taxpayer to the final registration certificate. About 4.4 mn have completed the entire process, of the 7.1 mn.Failure to do so .

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It can be said that those who are not computerised and internet savvy have to be out of business

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GST impact: Auto LPG sellers want tax parity with CNG

Though lower Goods and Services Tax (GST) rates have led to a push in use of liquefied petroleum gas (LPG) in automobiles, there is lobbying to cut it further, at par with the rate on compressed natural gas (CNG). A rate of 18 per cent has been set for commercial LPG, used as a low emission automobile fuel. CNG is taxed at five per cent. Prior to the July 1 rollout of GST, the tax rate for auto LPG was 23 per cent. "We have requested both the GST Council and the ministry of petroleum to reduce the rates on auto LPG, at par with CNG, to push green energy. In that case, it will become at least 10 per cent cheaper than CNG," Suyash Gupta, director-general of the Indian Auto LPG Coalition, told Business Standard. Auto LPG is the third most commonly used automotive fuel (CNG is fourth) in the world, after petrol and diesel. An estimated 26 million vehicles in 70 countries use it. Seven of the 10 largest car manufacturers produce LPG-powered ones. "Compared to CNG, auto LPG has far lower ..

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Carmakers and dealers doled out steep discounts to clear the inventory ahead of GST rollout

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Arun Jaitley said, 'Got a great amount of public support for GST as people have become "restless'

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