Tribune News Service
Ludhiana, October 22
A seminar on the Goods and Services Tax (GST) was organised by the District Taxation Bar Association (Sales Tax) and Punjab Tax Bar Association. Yogesh Jain, chairman, Smart Tax Technologies, provided in depth information related to the GST and its guidelines to tax professionals.
Jain said it was mandatory to file the Goods and Services Tax (GST) returns on time and a defaulter would pay a penalty of Rs 200 per day and maximum fine of Rs 25,000 could also be imposed.
Tax payers were told that whose annual turnover was above Rs 2 crore, need to get their accounts audited from the CA. In the second session, topics regarding Tax Deducted at Source, e-commerce etc were discussed.