The Central Board of Excise and Customs (CBEC) has clarified the confusion on tax rates of Sarees. The statement stated that whether designer sarees or embroidered, will impose a five percent tax rates under the new Goods and Services Tax (GST).
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The Central Board of Excise and Customs (CBEC) has clarified the confusion on tax rates of Sarees. The statement stated that whether designer sarees or embroidered, will impose a five percent tax rates under the new Goods and Services Tax (GST).
Food Chain Companies such as Dominos and Pizza Hut who offer freebies to consumers will suffer huge losses due to the implementation of GST as they are required to pay taxes on free items as well. Packaged products and food service provider companies have stopped their ‘buy-one-get-one-free offers’ immediately after the implementation of Goods and Services Tax (GST) from 1st July.
India is the fifth largest producer of electronic waste (e-waste) across the globe. We generate 1.85 million tonnes of electronic waste annually. Under the Goods and Services Tax Regime (GST), e-waste industry has not been properly defined by the government under any of the GST slab rates.
GST is an acronym of Goods and Services Tax, it was introduced on 1st July across the country. New indirect tax regime, replaces several complex taxes such as Value Added Tax (VAT), Service, Octroi, Excise levied by the Central as well as State Government. Within the few days of implementation of the new indirect tax regime, the government is getting the good response from it. Initially, the Government, business entities, and traders have to face some issues with the newly introduced of Goods and Services Tax Regime (GST) but for the long purpose, it will definitely beneficial for the country as well as the Government.
Ministry of Information and Broadcasting Board has informed to all television broadcasters to run advertisements of GST Awareness Campaign ‘MANTHAN’ so that more and more people aware about the recently introduced Goods and Services Tax Regime.
Indian Armed Forces Canteens have sounded red alarms due to the implementation of the Goods and Services Tax (GST) Regime, nearly 1,700 armed force canteens may soon have to shut their doors if they will not provide GST exemptions similar to the defence- run CSD’s.
While the cash-based unorganised retail industry was still recovering from last year’s demonetization effects, the implementation of the Goods and Services Tax (GST) has further increased its problems as most of the small grocers are preferring to directly purchase from GST compliant major wholesalers.
Former Haryana Chief Minister Bhupinder Singh Hooda at ‘Vyapari Sammelan’ on July 23, said that the new Goods and Services Tax (GST) is extremely tedious for small business and traders.
The world-renowned embroidery (Chikankari) industry of Lucknow, which employs more than five lakh people, is in a state of confusion because of the indirect tax system goods and services tax (GST) that has implemented across the country.