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The GST taxation scheme would be changing the names of the upper-level department upon its arrival, as the newly suggested name of the department of central excise, customs and service tax can be considered as a department of GST and customs in the direction of the merging department of GST and customs.
States have started preparing for the GST regime ensuring proper training to officials working in the department. Now, they need some tax consultants who will advise them on the working of the goods and services tax (GST) law.
A billion euro company of France named FM Logistics has decided to invest EUR50 million in coming four years in India which will be a major investment by the globally renowned company. The upcoming decision taken by the company is in the viewpoint of India’s decision to implement Goods and service tax in the taxation web.
GST structure will need a good number of expert officials and trained staff which can keep the taxation in flow, and in this same direction the state commercial tax department is building a team of experts which can further guide and make ready those officials who would be dealing with the core aspects of Goods and Service Tax regime expected to roll out on April 1, 2017.
Central Board of Excise and Customs (CBEC) has given a new draft rule regarding the implication of popular taxation regime GST on Tuesday. The format on GST return and refunds required assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest, and fees.
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.
The Central Board of Excise and Customs (CBEC) has released an extensive FAQs detailing taxability of e-commerce players and taxi aggregators under the new system. The (FAQ) booklet consists of 268-page frequently asked questions. It has been released by Finance Minister Arun Jaitley, who answered over 500 questions on 24 topics, including scope, valuation, registration, […]
The passage of the long-pending in both houses is no less than a milestone for a country like India. The govt expects that the GST law will bring the economy on track and the new tax reform will assure hassle free taxation system. The 122nd constitution amendment bill received President Pranab Mukherjee’s nod on Sept. 8 this month. Following this, the govt is striving to conquer the deadline of April 1, 2017. Recently, the GST council was formed over the decision taken by the union cabinet headed by Prime minister Narendra Modi.
