Powerd By SAG INFOTECH
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Education is one of the major sectors of any economy. The education of country’s youth will decide how the economy of that country will flourish. Education promotes understanding, vision, creativity and productivity of people which helps in the advancement of a country. In India, Education is provided with both by the public as well as private sector.
Government’s recent proposal to consider petroleum products under GST is a welcome move towards the rationalization of GST regime. Products like kerosene, naphtha and LPG will be under GST regime while the other items like crude oil, natural gas, aviation fuel, diesel, and petrol are out of GST regime during the initial years.
All under-construction properties will invite a GST of 5 per cent with no input tax credit. However, GST will not be applicable to ready-to-move-in properties.
The biggest taxation reform of GST India has been considered well enough in both the house of parliament which notes down its significance and its power to fetch the benefits of 8 percent of additional investments of capital stocks prevailing in various sectors of the economy.
The consumer products manufacturing companies have started preparing their business model before the implementation of the GST. These companies have started remodeling the structure of their warehousing systems, IT infrastructure and supply chains ahead of the goods and services tax roll-out.
The central excise and customs department has declared a protest will be held stretching across the nation and a mass casual leave will be taken on ‘budget day’ to show off the discontentment regarding the issue of GST and its implementation.
It has been about 2 months since GST was implemented in the country. The main aim of implementation of new tax regime is one nation, one tax, one market.
After a long wait, the dream comes true when GST become applicable across India. More than 2 decades wait for a strong tax reform regarding indirect taxation will be part of our Indian economy. Now after passing the bill in both houses of parliament and receive President Ascent, the bill became Law for our nation. After that the foundation of a GST council complying of states and central governments members and economics experts. The council will decide the rates, exemption and rules and regulation.
E-commerce or electronic commerce (an online shopping hub) manages the buying and selling of products and services exclusively through electronic channels. E-commerce captures around 33% of the global market with a positive growth in near future.
