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This portal provides effective GST (Goods and Services Tax) news about what is going in the financial world such as filing, taxes, evasion of taxes, etc. The financial news will bring you the knowledge and are helpful for the CAs.
The Blogs on this portal will also tell you about the trending GST news and financial updates whether it might be from any government or non-government portal. You can also stream into the GST articles relevant to the GST REG, the updated scheme for the people of India, and awareness about how to manage or provide consultancy to the people of India in managing their businesses.
The blog will regularly provide press releases of the GST council meetings held by the finance minister of India. Moreover, people can also seek information about the petitions imposed by the applicant and the progress or the result of the cases.
Goods and services tax has now started showing off some of its benefits in the sectors where it encountered hurdles before. In the same direction, GST would be giving a relaxation over the process of PAN India auction which has been recently introduced by Tea Board in June this year.
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.
Infosys CEO Vishal Sikka explains GST rollout as a challenging task and acknowledged the preparedness as not up to the mark but it can be possible if the time is utilized wisely before the deadline April 2017.
Prime Minister Narendra Modi has reviewed the recent work done on the implementation of GST in order to meet the proposed deadline April 1, 2017, and asked departments and ministries to take necessary steps for achieving the deadline on time.
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.
India is getting a worldwide recognition in the name of teamwork that the GST showed across all the political parties working together to make this tax reform a success. As of now, there is a smooth flow of processing and implications regarding the GST and its structural framework to ensure hassle free operation when it will finally get rolled out in the nation’s taxation web. The Union cabinet has also formed the GST council that will take care of the further proceeding over the GST.
Goods and Services Tax will be much more soothing to the nation as it will attract more and more Foreign Direct Investment inside the country. It will also increase the tax compliance which will increase the transparency, therefore creating a trustworthy relation between the business corporates and the government.
With the formation of the GST council on Monday, we are witnessing how the Government is working keenly towards achieving the deadline of GST which is April 1, 2016. Meanwhile, India Inc believes that the proposed deadline is insufficient and seeks more time for the implementation of GST across the country. The Govt. already cleared another milestone by forming the GST council and the Union cabinet led by Prime Minister Narendra Modi decided that the GST council office will be based out in Delhi.