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The Telecom Industry will look into the matter of 18 percent GST rates on the duties of mobile phones. If consumers and companies are facing problems with the new taxation rates, Telecom industry can consult with Finance Minister Arun Jaitley.
Finance Minister of Jammu and Kashmir Haseeb Drabu on Monday has decided the operational target, traders in the state are required to migrate in the new regime by mid of August as well as he provided the guidance to the administration to implement the new regime successfully.
It is now a mandatory affair for all the business entities and companies have to maintain all financial data via online under the Goods and Services Tax (GST) Regime and there is no offline tool available for anyone under this.
After the implementation of Goods and Services Tax (GST) Regime on 1st July, several taxpayers are complaining that their personal data and information is combining with the others at the time of login into GSTN portal. For this, I-T department is blaming to tax practitioners for registering multiple entities at one time.
The Deputy Chief Minister Sisodia declared that for addressing the problems or issues of traders related to the new Goods and Services Tax (GST) regime the Government of Delhi will run six GST help vans in the commercial areas and help desks in the small markets.
Tax department recently mentioned that after the implementation of GST, there can be a huge game of corruption which is underlying in the shell companies being registered for many years.
Prime Minister Narendra Modi has communicated to the Chief Secretaries of all States that business entities and traders must register in the new Goods and Service Tax (GST) regime before 15th August.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
Musical Instruments will be imposed at 28 percent higher tax rate in the Goods and Services Tax (GST) Regime and the owners of musical stores are protesting for the higher tax rates with confusion.