Powerd By SAG INFOTECH
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Even though the government is claiming that in the GST, exporters started receiving online refunds, but the reality is different.
For claiming refunds under GST, recently the government has observed that nearly 10,000 applications have been filed by exporters till November.
The government certainly reduced Goods and Services Tax (GST) rates on 178 items in the last week, but businesses are searching for some confusing ways to not transmit the profits to the customers.
After the reduction of tax rates nearly on 300 items in last GST council meeting, now the government is planning to bring some changes in the rules, procedures and regulations under GST to simplify the procedures for taxpayers and businesses.
Big B2C service sectors like banks, telecommunication operators, and insurers are working deliberately to stay clean of anti-profiteering damages because there are no stir-clear recommendations till now concerning the profit they can make from the initiation of the GST.
Under the GST, the exports of taxable goods or services are treated as zero-rated supplies. It means that the suppliers will not have to pay any GST on any of their exports.
The 23rd GST Council meeting in a row to make GST more effective proved to be big contentment for most traders with the council pronouncing a set of measures that reduced the compliance burden and tax rates on some eatery goods.
As the GST council has reduced the tax rates on restaurants from 12-18 percent to direct 5 percent, there is a happy vibe in the industry.
Hosur is a city in Tamil Nadu , located at a height of 3000ft from the sea level. The temperate climatic condition in Hosur differs from rest of the cities in Tamil Nadu and is the reason for being envied by others. It has a very pleasant climatic condition throughout the year.
