The government has put out the draft rules for the goods and services tax for discussion ahead of the September 30 meeting of the centre and states to discuss the regulations. In view of the right deadline, the finance ministry has asked for feedback by September 28. Rules relate to registration, invoice and payments, laying down procedures, guidelines and documentation.
It’s encouraging to see that the rules largely envisage electronic interactions between the tax authorities and industry with only need-based physical intervention like verification of premises on the application filed for business registration in gurgaon Indirect tax. Further all the PAN details are to be verified online with CBDT database which is expected to bring larger part of the business in the mainstream.
Read more information visit at: http://bit.ly/1sMCM3o