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GST has been implemented in India and is now making all the businesses compatible with it rapidly. Recently, a new announcement has been made by the GST Network, according to which, every small business across the country with the turnover of up to Rs 75 lakh can opt for composition scheme under Goods and Service Tax regime by July 21.
The Deputy Chief Minister Sisodia declared that for addressing the problems or issues of traders related to the new Goods and Services Tax (GST) regime the Government of Delhi will run six GST help vans in the commercial areas and help desks in the small markets.
Tax department recently mentioned that after the implementation of GST, there can be a huge game of corruption which is underlying in the shell companies being registered for many years.
Prime Minister Narendra Modi has communicated to the Chief Secretaries of all States that business entities and traders must register in the new Goods and Service Tax (GST) regime before 15th August.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
For monitoring the progress of new indirect tax regime, Cabinet Secretary PK Sinha has written a letter to secretaries of all ministers to make a weekly report of all complaints including business entities still not registered or switched in the new regime, complaints of traders, rise in prices in the new regime, software glitches and […]
Musical Instruments will be imposed at 28 percent higher tax rate in the Goods and Services Tax (GST) Regime and the owners of musical stores are protesting for the higher tax rates with confusion.
The GST Council along with the central government has now mandated that each and every trader will have to display their GSTIN number on their signboards.
The Goods and Service Tax Regime has been rolled- out on 1st July across the country and it is saving about 24 – 36 hours time of fleet owners at each check-posts as VAT, Sales Tax, and Octroi duty has been removed by most of the states in the new regime.
