The GST has created the confusion between publishers and authors and the question is that who is liable to pay 12% of Goods and Services Tax (GST) on royalties.
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The GST has created the confusion between publishers and authors and the question is that who is liable to pay 12% of Goods and Services Tax (GST) on royalties.
According to the report by Global Research and Analytics Firm, frequently used household products such as toothpaste, soap, edible oil, instant noodles, soap and much more are anticipated to get an increase in demand of 2-5% in coming 12 months.
GST composition scheme which is subjected to give relief to small businesses can be mold to new forms as GST Council is trying to make it more attractive and comprehensive for traders.
To deal with the tax-evaders, the anti-black money drive is established with the full power of strict compliance laws. To treat the evaders in a better way, the GST laws are designed in such a way to protect the taxpayers and extract out the tax-evaders in a check.
As per the tax experts review on GST implementation, the old-issue of transfer pricing can tremble the system in coming future.
The Aviation MRO (maintenance, repair, and overhaul) wants the government to make a simple structure by either cutting down 18% GST on the aviation MRO sector or levy customs Duty on aviation who are serviced out of the country and exempts from contribution to GST.
Goods and services tax recently surfaced in the Indian economy and has affected a lot of sectors. Here we can see a detailed picture of what GST have done to the steel industry in India.
GST, with the hope of billions to provide a better way to transact in a business and to eliminate the cascading effects under the previous tax system, it is the biggest tax reform in India ever. Although the system is very new to all and the taxpayers are not well-versed with the new indirect tax nomenclatures, we can expect that by the time it will go flawlessly.
After the implementation of GST, it was significant to the under various provision regarding the ITC availability in the matter of sale and purchase of capital goods under the goods and services tax regime.