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According to The Associated Chambers of Commerce and Industry of India (Assocham), if the Realty is put under the GST, it is required to come with moderate rate and stamp duty, without attaching the cost of housing and construction.
It has been more than four months after GST rollout and now it seems that revenue loss chances have reduced. Data collected from GST Council shows that States are continuously enhancing GST collection by the remission of last due dates, a release of late payment charges for some time, and efforts of the government to attract towards compliance.
The Goods and Services Tax (GST) is expected to get a new reform that will be more extensive than the changes made so far to straighten out hurdles in making GST compliant and less burdensome.
GST Network has informed the exporters about the refund filing mechanism and allowed them to furnish details on common GST portal in table 6A of GSTR-1 return form.
The GST Council is ready to cut down the items from the list of maximum tax slab of 28% by moving some products of daily usage and products from SMEs (Small and Medium Enterprises) to another lesser tax slab.
Goods and Services Tax (GST) is the topic of criticism for different industries in India. The protest is lined-up and Brass Industry on Tuesday joined the rally.
Diamond traders contacted the government requesting to eliminate the 3% Goods and Services Tax(GST) on Business to Business (B2B) transactions.
All retail chains and shopping malls are preparing for a Mega Sale around the year-end and the reason is well-known disruption caused by GST.
Vanaja N Sarna, Chairperson of Central Board of Excise and Customs (CBEC), said that the tax collected under the new tax regime is deviating from the expected figure and there are no targets in line to tweak the annual revenue goals.