Deependar Singh (Ex-Employee)

A recent report by the French Tech Firm claims a significant increase of 20 percent in the number of Lakhpatis in India over last year.

GST is about to get a year old. And post discussions and reviews, the Central Government is set to introduce a total of 35 amendments.

The RERA was introduced in 2016 but became fully functional in 2017. All 92 provisions came into effect in May 2017. This was followed by the introduction of GST in July 2017. And with RERA and GST, India’s two long-awaited needs were fulfilled:

The last date for sale of pre-GST packaged goods has now been extended till July 31. The pre-GST goods, however, must be sold with stickers on them and must reflect the changes in MRP (increase or decrease) post-levy of the new GST rates.

The National Anti-Profiteering Committee owns an overarching mandate under GST. The Indian GST, a complex indirect tax structure, categorizes goods and services in five tax slabs viz.

The National Anti-Profiteering body set up under the newly introduced GST ensures that the benefits from GST rate reduction reach the consumer.

The Fiscal Year 2018 recorded a 7.2% decline in securitization volumes. While there are many reasons for a decline, increase in PSLC volumes by banks and GST ambiguities are the major reason for the decline.

In sharp contrast to underlying industry doubts, all National Anti-Profiteering Authority orders under the goods and services tax (GST) have gone against the complainants.

The upcoming Monsoon Session of the Parliament is all set to table amendments in the GST which will also be completing its 1st year since introduction on July 1st.