Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
There are various provisions in the GST and their work-ability is only understood by the apex officials who have worked upon the tax regime and has tried every possible way to make it happen. Recently Union finance minister Arun Jaitley stated that the quarterly filing of the return is not feasible and can not work for the taxpayers who has a turnover of above Rs. 50 lakhs.
The new GST regime will be enforcing numerous tax compliance along with the strict prosecution which will further lead to demand GST jails in every state as stated In the meeting of the Punjab State Trade Board, the State General Secretary Sunil Mehra, District President Radheshyam Ahuja, Vinod Bharti.
At a very positive note by industry experts, the GST is supposed to bring sheer blessings to all the Indian IT companies providing software products in the field of taxation. A pool of intelligent minds of the market was behind the comments and have also assured that the GST regime will take a total opportunity figure up to a staggering Rs. 6000 crores making the opportunity much more similar to the Y2K phenomenon at the corner of the millennium.
The upcoming goods and services tax in India will be impacting the gold consumption at a rate of 4 percent as speculated by the World gold council (WGC) executive in a recent meeting. GST is said to impact the gold consumption for around 4 percent in the year 2017 to nearly 650 tonnes.
GST has again seen a positive response from the Haryana state as the state assembly passed the reformative Goods and services tax bill in the significant one-day session of the house and also in a turning point, gave the legislators a hike of salary and allowances with a rise from 50 thousand to 60 thousand per month of the ministers.
The goods and services tax will be coming with a lot of compliance and it must adhere to those rules and regulation must not be broken in any case to avoid any legal or operational loss proceedings.
The upcoming Goods and services tax will be running on IT platform and the supportive tools like GST Suvidha Provider (GSP) and Application Service providers (ASP) will be the significant players in the success of the tax regime. Here we try to explain these two important part of the GST network which will be the centre platform to hold all the tax data.
The GST is considered to be the biggest and most impactful tax regime in the Indian taxation industry as it is supposed to eradicate the leap of indirect taxes currently prevailing in the country.
GST is an online paradigm of taxation being hyped for its overly and absolute solution in the field of aggregate taxpaying community. The central government is still in the dark for the issues which might consume the objectives of the new taxation regime. As subjected towards the concern, poor and unstable internet connection is turning out be a problematic issue within the authorities and GST expansion plan.
