The Confederation of Indian textile industry chairperson stated that the factors such as an increase in import taxes on textiles and reduction of GST rates on synthetic clothes will surely boost the domestic cloths industry.
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The Confederation of Indian textile industry chairperson stated that the factors such as an increase in import taxes on textiles and reduction of GST rates on synthetic clothes will surely boost the domestic cloths industry.
The 29th GST council meeting has discussed various significant issues related to the MSME sector. The small industries are continuously approaching the finance ministry for the resolution of their issues which has been discussed in the GST council meeting.
When GST was introduced last year, many skeptics seemed surprised by its complex framework. However, a year later, the GST has undergone a cosmetic makeover of some sort.
The impact of goods and services tax on the daily household is positive according to the reports and research did in the one year of this crucial time period i.e. the implementation of GST.
The recent proposals made by the government in the GST Law are expected to provide solutions for various ongoing GST issues for which companies and associations have filed writ petitions in the court.
The government has recently proposed 46 new amendments to the GST law (central GST, state GST, and integrated GST) and revenue compensation law.
The unorganised sector, as the name says, represents those businesses that are unincorporated (not governed by any official entity).
Builders and buyers have found out the new ways to save 12% GST for under construction flats. As under construction projects engage with difficulties in possession holding, further an introduction of GST in this field has reduced the demand for such projects.
As per the figures of Employees’ Provident Fund Organisation (EPFO), it came out that 4.1 million job applications were generated between September 2017 to April 2018.