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The next 34th GST council meeting has been scheduled to be organized on 19th March which is also ought to be unique with a union meeting going to conducted in election code of conduct.
Automobile dealers have anticipated the reduction in liquidity due to the modifications in GST laws. The Federation of Automobile Dealers Association (FADA) has written a letter to the Prime Minister’s Office, Finance Ministry and GST Council, expressing the resentful effect of the addition of section 49A to CGST law on their cash flow.
The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.
After the implementation of GST, the council have decreased taxes on multiple products in various meetings. But customers are unable to enjoy the full fruits of these deductions on taxes.
Punjab cabinet at its meeting chaired by chief minister Amarinder Singh approved an amendment to the GST incentives notified under its Industrial and Business Development Policy-2017.
The government has confronted Rs 20,000 crore GST evasion in 2018-19, out of which Rs 10,000 crore has been recovered, rest 50% are yet to be retrieved from the corrupt businessmen who follow these illegal practices of GST dodging.
On 24th Feb 2019 GST council in its 33rd meeting, Council mulled over the proposals to cut GST rates on real estate. Once the proposals are cleared, buying an under-construction apartment will become cheaper.
Despite the fact that Bhiwadi is one of the small towns of Alwar in Rajasthan, having the total population of barely one lakh, has become a key contributor in government revenue by giving 12 per cent of the total GST accumulation from Rajasthan in the state treasury.
The new law of AAAR has extended our attention to a different aspect of the business which involves the employer and employee relationship and the facilities provided by the former to its employees.
