Latest & Trending GST News

The Union government on Saturday released the drafts of the three supporting legislations for the Goods and service tax (GST). These three draft laws are—the central GST law, the integrated GST law, and the compensation law— which will be talked about in the meeting of the GST Council scheduled on 2-3 December. After a while board gives its gesture, the bills will be presented in Parliament in the progressing winter session. Entry of the bills in the upcoming winter session will be vital for the administration to meet its 1 April execution due date.

The GST network has got 48 of the prospective firms on their list who are desiring to be in the service providing team of GST network. The firms will have to acknowledge their efficiency in handling the large database and to become GST Suvidha providers for the upcoming GST regime.

Various bodies of the Indian community have been active since the GST is about to spell its cast over the taxation structure of the nation. Many of the government organization and private institutes are hovering on the concerned people to educate them on this matter of GST. Now in this same direction, Confederation of Indian Industries (CII) has come up with an event to shower the necessary information on GST.

The onset of GST might bring a happy face on the consumer of Indian community as the latest draft bill will be issuing a new provision which states an anti-profiteering clause. This clause depicts that the India Inc fraternity will be reducing the prices of the commodities which will get the benefit under the GST regime arriving early 2017.

This time it has been said by a very important player in the global market over the demonetization step of the Indian government. It is Morgan Stanley India which is in the league of the prominent financial race of asset management, commodity signifier, and renowned investment major.

Recently, in an event of Economic Times, the founding member of Medical Technology Association of India (MTaI) Mr. Sanjay Bhutani, Country Manager, Bausch & Lomb India advised some of the significant issues on the challenges of medical device sector.

A very crucial meeting which was scheduled to happen on November 25 now postponed to December 2-3. Various states were in the row to modify the rules and regulations in model GST and the compensation laws.

BCCI in an act of timely response has thrown a meeting around various zones of Kolkata, Chennai, Delhi latest of which held in Mumbai. The board is looking for upcoming GST regime in a healthy manner and has started the preparations to be done before the significant implications fall upon.

The centre administration is thinking about placing all three GST-related Bills as money Bills dismissing the Congress’ request looking for their presentation as financial related bills. The presentation of the GST Bills as money Bills will guarantee speedier section as these are required to be voted just in Lok Sabha where the decision party has a reasonable share.