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Are you one of those employees who loves his or her office brunch? Well, then there is a bad news for you. No, we don’t mean that your office won’t be able to run canteen services but thanks to GST your sojourn with your colleagues in your office canteen got just a little expensive.
It has been more than nine months since the GST was launched in India, but businesses it seems are still finding it difficult to get their head around India’s new indirect tax regime.
GST was a complete overhaul of the existing taxation system in India. Powered by the GSTN Network, it was India’s first big step towards a true digital economy.
Recently Taxpayers were apprised about the new Income Tax Return (ITR) forms for the assessment year 2018-19 by the Central Board of Direct taxes.
Input Tax Credit is the lifeline of GST Revenue generation as well as ensures the smooth business functioning of private business firms and taxpayers.
The GST and the E-way bill was supposed to smoothen operational roadblocks for Transporters. But as per the All India Motor Transport Congress (AIMTC), the reality is still in sharp contrast to the promised dream.
There are a lot of business opportunities for the logistics startups in the GST e-way bill based setup. As everyone knows that the first launch of E-way bill was not a smooth one. It was marred by GSTN traffic overload issues.
The 21st century India has witnessed the rise of the middle class and consumerism in India. From being a mixed economy state and guilty of practising crony capitalism for over five decades, the new India is finally emerging from the shadows of the past.
Yanamala Rama Krishnudu, Minister of Finance and Planning for the State of Andhra Pradesh and also a senior politician from the TDP, has raised concerns over the effectiveness of the GST.