Poonam Hotwani (Ex-Employee)

The GST Council along with the central government has now mandated that each and every trader will have to display their GSTIN number on their signboards.

The Goods and Service Tax Regime has been rolled- out on 1st July across the country and it is saving about 24 – 36 hours time of fleet owners at each check-posts as VAT, Sales Tax, and Octroi duty has been removed by most of the states in the new regime.

As per the GST provisions, in case of goods costing more than Rs 50,000 it is necessary to register online, before moving the goods and also it is expected that the E- Way Bill Information Technology system will be hitting in the month of October, once centralised software platform is ready, said top official. E- way bill provision will be carried out after infrastructure for a smooth transition, registration and verification through mobile devices with tax authorities linked up.

GST has been played with various rules governed by the state government and can negate the benefits of it. Recently the Automobile industry reduced the prices of two-wheeler and four- wheelers after the implementation of the Goods and Services Tax (GST) Regiment on 1st July

After so many chaos and confusion Goods and Services Tax (GST) Regime has been implemented across the country on 1st July. Finance Ministry on Friday has cleared that the education sector will not be affected by the implementation of this new regime and no tax will be levied on the educational services.

The Indian government on Friday warned manufacturers, sellers, and importers to revise maximum retail price (MRP) of the goods manufactured and packaged before 1st July, with the post-GST price sticker. Or else, they would have to suffer from penalties ranging from fines upto Rs 1 lakh or prison for one year.

Pawan Goenka, Managing Director of Mahindra & Mahindra (M&M)said on Thursday, For short term, Automobile industry will be benefiting with the new Goods and Services Tax Regime (GST), due to the price reduction and restoration of inventory levels at retail outlets

After the implementation of the new regime, the service sector of the country improved the business conditions in the month of June. According to the survey report, Nikkei Purchasing Managers’ Index (PMI), services grow to an eight- month high of 53.1 in the month of June from 52.2 as compared to previous month.

Delhi University is set to implement the concept of Goods and Services Tax (GST) in the syllabus of all commerce programs. Students who are pursuing commerce degree programs from the Delhi University will now have to learn the concepts of GST similar like Debit and Credit. The commerce students will have to study the GST related topics in their respective programs.