Search results for: Goods and Services Tax

The ambitious goods and services tax may try to reach the prospect of salaries of employees as the implication of GST on the canteen food have given a hint on the changes hovering over the salary structure of the employees.

YES Bank, a leading private sector bank and finance organization in India, has announced a new credit product called YES GST through which the bank will offer easy loans to small businesses on the basis of their goods and services tax (GST) returns and compliance report.

In a bid to rescue India’s largest and most comprehensive tax structure i.e. the goods and services tax, the Bombay high court recently heard a petition which was going against the new indirect tax system.

A government official has stated that the Central government is currently working on to enhance its stake in the Goods and Services Tax (GST) Regime to ensure that any data breach or mishappenings don’t occur on the GSTN portal. Currently, the ownership of government in GSTN is 49 percent, whereas the ownership of private financial institution is 51 percent.

Last week, the initial figures of revenue collection under Goods and Services Tax has been revealed showing a slowdown by Rs 1,144 crore when comparing the data with January revenue which was Rs 85,174 crore.

Food Safety and Standards Authority of India (FSSAI) announced that it will relook the food business in order to rearrange it in respect of total annual turnover to meet the Goods and Services Tax regulations.

Finally, the 29 Indian States, it seems, has come to a mutual agreement on bringing petroleum-based products under the Goods and Services Tax (GST) radar.

The government seems to increase its efforts towards the consumers who are still wondering about the benefits of goods and services tax.

Prime minister’s financial advisor Bibek Debroy stated that goods and services tax would take at least 10 years to become normal and manageable.