Today 2nd anniversary of GST

There will be many reforms in GST, traders will get big advantage from single refund system.

On Today, the second anniversary of the implementation of Goods and Services Tax (GST), the government will present some further improvement in this indirect tax system. These reforms include new returns system, rationalization of cash account system and single refund distribution system.

GST is a diversion for the Indian economy and has changed the multi-level and complex tax structure into a simple, transparent and technology based tax system. GST is a diversion for the Indian economy and has changed the multi-level and complex tax structure into a simple, transparent and technology based tax system.

GST System will start a new return system based on a test from July 2019. It will be mandatory to be implemented from October 1. The Ministry said, "Simple and easy returns have been proposed for small taxpayers.

Regarding a cash account, the government will make it rational and include 20 items in five major items. There will be only one cash book for tax, interest, fines, fees and more. A single refund distribution system will be created in which the government will approve the refund of all major refunds CGST, SGST, IGST and Cess.