Browsing author
The Central Government might reduce the luxury tax slab of 28% on construction items ahead of the 2019 election. The move will be aimed to stimulate the currently dull construction sector.
The technological fabric of GST intertwined with compliances complexities and multiple-stage taxing has spelt doom for the once flourishing Textile and Powerloom Industry of Surat.
Bullion Gold Dealers and Jewellers claim that post the implementation of goods and service tax, the illegal trading of Gold has increased manifold.
Logistic Efficiency is paramount for profitable business operations. The 18-20% decrease in turnaround time for road transport sector post GST introduction are good omens for business operations.
DBB, a large FMCG sector company, has filed a petition in the Nainital Bench of the Uttarakhand High Court. The petition is regarding Dabur’s refusal to pay ITC under GST on goods manufactured in special exempted states during the VAT regime.
The Indian GST is a very complex form of indirect tax. The discrepancies in GDP growth and per capita income growth meant that the One Nation One Tax Policy unfolded as a complex fabric of multiple tax slabs intertwined in a fabric of cess and other indirect taxes.
GST is about to complete its one year. And India’s solar power industry is very slowly trying to normalize the upset caused in the renewable energy sector post-GST implementation.
The GST was introduced to boost tax revenue in India. But the first year of GST has been so far a mixed bag in terms of tax revenue. 31 out of the 34 Indian States/UT’s have reported revenue shortfall.
The E-Way Bill introduced under the GST has been a great success and the data proves it. Since inception on April 1, 2018, the total number of E-Way Bills generated sums up to 9 crores 42 lakhs.