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GST Review August-2023

Editorial

Mayur R. Parekh
We all had a hectic working month due to IT deadline of filing income tax returns for Individuals. I am sure after short break again, all professionals will be busy with audit work both tax audit & statutory audits & then filing those income tax returns & of course GST compliance of filing GSTR 9 & 9C. Therefore I say that professional’s life is like Roller Coaster. Anyway, it’s part of our life and we have to face it. E-way bill generation surged to 8.79 in July as against 8.61 in June, showing better demand. This could also have a positive impact on GST collection, which saw a third all-time high of ₹ 1.65 lakh crore in July. The date for GST collection for August will be out on September 1. Apart from higher e-way bill generation, performance in the services sector has also been encouraging, as a quick survey-based index (Purchasing Managers’ Index for Services) rose to 13 years high of 62.3 in July. All of these could help.......