Deependar Singh (Ex-Employee)

One very important outcome of the 27th GST Meeting was the Government’s decision to take complete ownership of the GSTN Network.

New Delhi, the National Capital, and Mumbai, the Financial Capital, are now recording an unprecedented increase in petrol and diesel prices.

Arvind Subramanian, the Chief Economic Advisor to the Government of India, had a few months back asserted that Insights From GSTN Data Could Drive Economic Decisions.

Goods And Services Tax (GST) was implemented from July 2017 and 18% GST is liable to pay for banking services. Subordinate Services Selection Commission has announced direct recruitment for the vacant posts and applicants have to fill the online applications regarding the same.

On the back of a dozen of rulings by Authority for Advance Rulings on Central Excise, Customs, and Service Tax matters, the GST council is now preparing to set up Appellate Mechanism in states.

GST is a new form of indirect tax in India. It is also at times termed as the tax levied on the sale of Goods and Service. As an aftereffect of the soon to be one-year-old GST system in India

The rate for the changes made per day in the present GST law is a whopping 125%. This means on an average 1.25 changes are made per day in the current indirect tax law of the land which was once referred as the Golden Bird of the East.

The Goods and Service Tax or the GST will complete one year on July 1st, 2018. In this period, a number of provisions which were part of the original draft for GST were put on hold at the behest of requests from Industry leaders and experts to reduce the burden of Tax compliance.

The GST collection for the FY 2017-18 stood at  Rs 7.41 lakh. India’s new indirect tax law that subsumed 17 indirect taxes (central and state included) was launched on the midnight of July 1st, 2017 from the ramparts of the Red Fort in Delhi.