Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Qatar’s RasGas, the biggest LNG exporter to India, today looked for incorporation of gas in the Goods and Services Tax (GST) administration to make assesses on the green fuel uniform and extra purchases from falling different duties.
The take off of the Goods and Services Tax (GST) will cost the administration up to Rs 16,000 crore to move on its goal-oriented program to take old trucks to go under the Voluntary Vehicle Modernization Program (V-VMP).
Union FM Arun Jaitley on Friday said that there is a sacred impulse to execute the Goods and Services Tax (GST) inside its due date, and its usage can not be deferred past September 2017.
West Bengal finance minister is relentlessly pressurizing the point that the demonisation effect will also cover the GST and its roll out in coming future. West Bengal finance minister Amit Mitra said that, “the timing is not right for its implementation, given the impact on state finances because of the partial demonetisation, Demonetisation of Rs 500 and Rs 1,000 currency notes, and the resulting turmoil, makes April 1, 2017, target date for a national goods and services tax (GST) unlikely.”
Industry body ASSOCHAM has tied up with programming item firm Tally Solutions to teach and set up the retail group for the roll-out of Goods and Services Tax (GST). As a feature of the joint effort, ASSOCHAM and Tally’s Solutions plan to direct a progression of meetings for the retail group the country over, throughout the following couple of months.
The centre and its financial department are gearing up for the upcoming GST regime and some of the first reformations are being taken into the SEZ Zone acts. Banikinkar Pattanayak, a government official said that The government will soon tweak certain fiscal provisions of the special economic zones (SEZ) Act, as it gears up to introduce the goods and services tax (GST) regime in the country.
According to Japanese financial services major Nomura, Goods and Services Tax (GST) benefits are likely to increase over time and in the long run the indirect tax regime with strengthen tax revenues, boost economic growth. The benefits are expected to be substantial, predicts Nomura.
The automotive industry association SMEV have appealed the government to exempt electric vehicles from the Goods and Services Tax (GST) as these vehicles play a vital role in reducing air pollution. Notedly, SMEV is an association that represents Indian manufacturers of electric vehicles and electric vehicle accessories.
The inclusion of Bankruptcy Code law has taken a toll on it and now the Country Director Junaid Ahmad has confirmed that the World Bank will be including the same in their upcoming ‘Doing Business’ 2017 report along with Goods and Services Tax.
