Important Point to Know About Revised GST Threshold Limit
As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
Browsing author
As we know, in the GST Regime, businesses whose turnover exceeds Rs. 20 lakhs is required to register as a normal taxable person.
The Interim Budget expected to show Remarkable changes in the Income-tax exemption limit. According to a report, it is speculated that the income tax exemption threshold for the salaried class would be changed from the current Rs 2.5 lakh to Rs 5 lakh.
The Commerce minister Suresh Prabhu on Wednesday made an appeal to the Finance Ministry that the process of refund of GST input tax credit should be made online.
A reduction of 12% GST on ‘housing’ to a toll to 5% without any extension in the benefit of the input tax credit (ITC) to developers, would definitely increase the price of the Apartments and would largely affect the Low and the Middle-income Group.
The Prime Minister’s Office urged to the nodal ministries to speed up efforts for bringing all states on one platform in compliance with bringing oil, natural gas, electricity, and coal under the ambit of GST, the goods and services tax.
As per the new Rules and latest Directives from the CBIC (Central Board of Indirect Taxes and Customs), the Cars having price range more than Rs 10 lakh could cost more to the Indians due to the extra tax charged as per the new directives and rules from the Government’s end.
As per the industry executives, it has come into being that Business Correspondents (BCs) are facing a challenging time under the goods and services tax (GST) regime.
The Finance Ministry has granted permission to the businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019.
Hero MotoCorp, country’s largest two-wheeler maker called for a reduction in GST rates on bikes and scooters to 18 percent which is currently 28 percent.