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Sweet Makers are in the midst due to the new indirect tax regime as new GST rate depends on the variant of swSweet Makers Confused A Lot After GST Confusing Rateseet. GST Council has decided different rates for different sweets which create confusion for sweet makers.
The solar sector is troubled with the implementation of the new indirect regime as tax rates of solar products are not clear. However, suppliers yet not started passing benefits to the consumers that they acquiring from input tax credits- which is connected to high taxation rates and higher prices for customers.
Now the business entities can upload their daily invoice details or account statement including sale and purchase of goods and services at the portal, as GSTN portal has started uploading invoice details.
Manufacturers of retail chains and department stores of fashion and lifestyle products across India have communicated to the stores that they must pass on benefits to consumers due to the price differences after the implementation of the new indirect tax regime.
One month is about to complete as the country has entered into the new regime. Nearly 15 officers and inspectors from the tax department have been spending long time hours on daily basis to solve the problems and queries of merchants, traders, and taxpayers. At GST help desks, each officer deal with 10 cases in a day which is generally related to the digital signatures and PAN mismatch.
Central Board of Excise and Customs (CBEC) has declared first-month revenue data after the implementation of the Goods and Services Tax Regime.
According to the trade body, handmade manufacturers and other floor coverings have been adversely impacted with the levy of 18 percent GST on job works and 12 percent on the sale and purchase of handmade goods.
Tax Department officials continuously keeping an eye on the prices of goods and services after the implementation of the new indirect tax regime in the country. Manufacturers of consumer goods, mobile handset companies, and food chain restaurants have received the call from tax authorities department to provide invoice details before and after GST.
New Goods and Services Tax (GST) Regime came into existence from 1st July across the country and more than 15 days have passed as the country enters into the new tax regime. On one hand, some of the industries are enjoying the new regime, whereas, on another hand, some of the industries are protesting against the new regime.