Powerd By SAG INFOTECH
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The recent proposals made by the government in the GST Law are expected to provide solutions for various ongoing GST issues for which companies and associations have filed writ petitions in the court.
The government has recently proposed 46 new amendments to the GST law (central GST, state GST, and integrated GST) and revenue compensation law.
The unorganised sector, as the name says, represents those businesses that are unincorporated (not governed by any official entity).
Builders and buyers have found out the new ways to save 12% GST for under construction flats. As under construction projects engage with difficulties in possession holding, further an introduction of GST in this field has reduced the demand for such projects.
As per the figures of Employees’ Provident Fund Organisation (EPFO), it came out that 4.1 million job applications were generated between September 2017 to April 2018.
The technological fabric of GST intertwined with compliances complexities and multiple-stage taxing has spelt doom for the once flourishing Textile and Powerloom Industry of Surat.
Registered transports are in big benefits due to the implementation of GST e way bill as there are certain benefits to get the goods transported through a registered transporter.
The Indian handset manufacturers have sought clarifications regarding the taxes applicable on smartphone batteries and asked for the rationalisation of the taxes.
Under GST provisions, the government collects integrated tax for Goods and Services utilization and later share this collection between the centre and states.
