Finance Ministry extends deadline for filing GST annual returns till March 31

Finance Ministry extends deadline for filing GST annual returns till March 31

The Finance Ministry has extended the last date for filing annual GST return forms by three months until March 31, 2019. The annual returns form in which businesses registered under the GST have to provide consolidated details of sales, purchases and input tax credit (ITC) benefits accrued to them during 2017-18 fiscal was notified in September. The last date for filing was set at December 31, 2018. In a statement, the Central Board of Indirect Taxes and Customs (CBIC) said, “the competent authority has decided to extend the due date…

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Finance Ministry opposes free higher education for all students

Finance Ministry opposes free higher education for all students

The Finance Ministry considers it inappropriate to make higher education in Japan free without exception, informed sources said. The ministry now believes the proposed program, as part of Prime Minister Shinzo Abe’s initiative to support child-rearing families and cut tuition to zero, should screen eligible institutions and students, the sources said. Otherwise, Japan’s fiscal health, will deteriorate even further amid its ever-growing social security costs, they explained. Also, the ministry cannot give the nod because any indiscriminate tuition-free program could end up becoming mere financial aid for private universities and…

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