Subodh Kumawat

Flipkart, the e-commerce giant has been trying its hands over understanding the new tax reform and has started practicing way ahead of the actual GST roll out. The company has started following the GST guidlines and seems quite keen towards doing business with ease under the new tax reform. As this is a positive step taken by the e-commerce company, this will also give some helpful hint to other similar players in the market to start the practice in-order to prepare for the GST regime.

As the Government is working on the 4-slab rate, somehow the Government would be synchronizing current exemptions schemes with upcoming GST regime as for some better reason and has declared that it would be that it is pro-poor with 50 percent of essential goods and services exempted from any tax.

The GST regime is likely to witness the entry of the petroleum products, including crude. The step has been taken to put down the inflation pressure under control after a deep thought over the said consequences.

The Monsoon session of the Parliament, beginning from the July 3rd week will witness some major proceedings. The cabinet committee will be deciding the actual schedule of the session.