Many large companies to move Appellate Authority against GST demand notices
In recent days, an increasing number of GST notices have been sent to many companies mainly on account of alleged discrepancy in input tax credit (ITC).
Union Finance Minister Arun Jaitley on Friday said the early days of the Goods and Services Tax (GST) are going smoother than expected.
Addressing the annual general meeting of Indian Bank Association in Mumbai, Jaitley said: “Early days of GST are going smoother than expected.”
Jaitley further said that “stressed assets” are the core area of concern and that the government will expeditiously work with banking system to resolve the issue.
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The Finance Minister had on Thursday advised traders to file their GST returns four to five days in advance before the due date to avoid last minute problems.
The GST came into effect across India on 1 July 2017 and replaced multiple cascading taxes levied by the central and state governments.
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