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Now the business entities can upload their daily invoice details or account statement including sale and purchase of goods and services at the portal, as GSTN portal has started uploading invoice details.
The textile association finally chose to get back to their work after warning the government by replying their angst through vote banks.The union finance minister Arun Jaitley clearly denied the exemption of textiles from 5 percent duty of GST due to some other credit input issues.
New Goods and Services Tax (GST) Regime came into existence from 1st July across the country and more than 15 days have passed as the country enters into the new tax regime. On one hand, some of the industries are enjoying the new regime, whereas, on another hand, some of the industries are protesting against the new regime.
The Telecom Industry will look into the matter of 18 percent GST rates on the duties of mobile phones. If consumers and companies are facing problems with the new taxation rates, Telecom industry can consult with Finance Minister Arun Jaitley.
Tax department recently mentioned that after the implementation of GST, there can be a huge game of corruption which is underlying in the shell companies being registered for many years.
The goods and service tax will be a no stone heavy for the boarding and lodging students of under class X. The parents can take a sigh of relief as the government has announced clarification over the GST being actualised across the nation.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
Goods and service tax is applicable across the nation with simplified rules and regulations. But in case, if you are still in doubts and are not sure about the generation of bills in a restaurant, you must be prepared to understand the changes included in the bill provided by the restaurants.
After the implementation of the new regime, the service sector of the country improved the business conditions in the month of June. According to the survey report, Nikkei Purchasing Managers’ Index (PMI), services grow to an eight- month high of 53.1 in the month of June from 52.2 as compared to previous month.
