Every country’s primary challenge is tax evasion, and the government develops methods to counter such acts by unscrupulous citizens. The GST Act has made provisions which empower the authorities to recover taxes from tax defaulters. In the event of tax authorities passing the order for the demand of tax, the defaulter has only 3 months from the date of issue of the law to pay the due tax, interest, and penalty.

The Indian Taxation System has been largely transformed by the implementation of Goods and Services Tax. There is still a lot of financial implications that need to be understood for banks and financial services.
The govt. must also consider complete addressing of the issues faced by banks and financial service providers in order to make GST a grand success for a new India. In cases of stock-broking, the brokerage component attracts a GST which is a tiny part of the overall transaction.

Any appeal is an objection raised by the applicant in a higher court for the reversal of order passed by the lower court. Accordingly, GST Appeals also exist in cases of tax disputes where the applicant may raise an appeal using a set procedure.

According to the GST Act, both the CGST & SGST/UTGST officers can pass orders. Those orders that are passed under CGST will apply under SGST too. However, if the tax implication comes under CGST, then he/she must raise an appeal to the CGST authority only.

India is moving towards improved ease of doing business and after the implementation of GST. However, it may take time for all the small traders and other people in business to comply with constantly changing norms of GST.

This is exactly why there is a provision to seek clearance on any tax rule that you need to be addressed. One such method that individuals may adopt regarding specific issues is the Advance Ruling which essentially involves detailing out the decision of the authority on particular query posted by an individual related to goods and services.

A lot of organizations try to evade tax so under the GST act there are certain provisions by which the tax authorities can recover the tax liabilities from those who try to evade. If the tax demand is not met then the tax authority can start to proceed with the recovery. So to make sure you pay the taxes at the right time without any kind of discrepancy Tally.ERP 9 is the best software that one can use.

Tally.ERP 9 can help you greatly with the generation of e way bills easily. If you have no idea regarding what the e way bills are the bills which must be carried by the transporters when they are carrying goods that have a value of more than 50,000. The only solution for fast and easy e waybill compliance is theTally.ERP 9.

There are some rules which have been implemented to determine the tax liability so that the penalty calculation can be done under the demand provision of the GST. These provisions ensure that there is no scenario in which a person or organization can escape from paying the GST.