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Contractors who accumulate royalty collection will charge royalty along with 18% GST from the truck owners who are loaded with limestone in the truck from 8 January 2018. This recovery will be based on unpaid revenue.
In the name of GST, the renowned 40 leading pharmaceutical companies in the country have not only looted the government within five months of GST implementation but also have not deposited tax to the treasury of the government.
GST collection in Punjab has impacted significantly because of the continuous decrement in industrial and business filings for the last two decades.
Iron Handicraft industry, which exports products to foreign countries and earns foreign currencies in crores, is in dilemma after Goods and Services implementation as due to various anomalies in IGST and GST, they are suffering from an economic slowdown.
Many traders want to file GST but due to lack of computer awareness, they have to hire lawyers and accountants at a higher cost which is the main cause of delay in filing returns.
Where the big businesses are continuously appreciating the efforts done by Modi government, the small businesses are sharing another story of discontent.
Banarasi Saree and carpet Industry in a dilemma due to issues with GST procedures. Specifically, the constituency of the PM Narendra Modi, Varanasi and nearby areas are facing problems in continuing the business.
A month ago, the GST Council had reduced the tax rates nearly on 212 items to provide benefits to customers but the Indian citizens are not getting benefits by the slashing rates of GST.
Goods and services tax is now half a year old and still demanding necessary changes to be implemented as soon as possible according to the advisory group of GST which is activated for the vigilance for any differences and demands of GST accordingly.
