Browsing author
Prime Minister has given direction to Consumer Affair Ministry handled by Ram Vilas Paswan to become attentive on grievances from common people in respect to Goods and Service Tax (GST) and Exaggerating price issues with retailers.
The tweaks in GST tax rates affected the revenue collection of the government. The total calculated loss stands at Rs. 10,000 Crore comparing the last month collection. Finance Ministry told that the collection received till 27 November generated Rs. 83,346 Crore while the collection was of Rs. 95,131 Crore in October and Rs. 93,141 Crore in September.
Arvind Subramanian, Chief Economic Advisor, said moving upward, the GST rate brackets would reduce in number and products like petroleum are expected to come under the ambit of Goods and Services Tax in relation to the collaboration of the states on the issue.
What can be more peaceful before Gujarat assembly elections, where the Union Finance Minister Arun Jaitley has ensured the Gujarat’s textile community to solve problems faced by taxpayers in Goods and Services Tax(GST) filing procedure.
The government certainly reduced Goods and Services Tax (GST) rates on 178 items in the last week, but businesses are searching for some confusing ways to not transmit the profits to the customers.
Big B2C service sectors like banks, telecommunication operators, and insurers are working deliberately to stay clean of anti-profiteering damages because there are no stir-clear recommendations till now concerning the profit they can make from the initiation of the GST.
Approximately 4.3 million Traders have furnished an initial set of GST returns for October and the record marks the highest monthly return furnishing limit by the last date of the GST implementation.
The Union Cabinet gave its consent for establishing a National Anti-Profiteering Authority under GST regime as it wants to make sure that the benefits of slashed prices under GST regime reach to common men.
GST has become the topic of debate for the opposition party and we couldn’t see any changes in the conduct even after the Modi government reduced products under 28% slab rate in 23rd GST Council meeting.