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The most important reform will be delayed due to political interruptions as per CFOs of India. According the Yes Bank survey, around three fourths of CFOs have told that the crucial Goods and Services tax might be levied by next fiscal.
Finance Minister of India, Mr. Arun Jaitley Said that he is ready to talk with Congress party’s any member in case of GST Bill that stuck due to Congress resistance. He expressed his willingness that he wants to talk with Vice-President of Indian National Congress, Mr. Rahul Gandhi in terms of the GST Bill that passed by Parliament for two decades.
Shipping industry under GST regime has suffered a lot and to understand this we may further try to reach the reason. GST has given many positive results but just at International level while domestic ones have not witnessed any advantage.
The Union Cabinet gave its consent for establishing a National Anti-Profiteering Authority under GST regime as it wants to make sure that the benefits of slashed prices under GST regime reach to common men.
For opposing new GST Regime, a Public Interest Litigation (PIL) has been filed in the Bombay High Court. Dr K. S Pilai, a 63-year-old retired professor from the King Edward Memorial Hospital from Parel has filed a petition and alleged that the government is hurrying in implementing new indirect taxation structure in India. The hearing of the case will be held on 29th June.
The new Goods and Service Tax (GST) is going to implement from 1st July. The confusion about tax levies on statues and pictures of religious deities under new GST Regime has become an issue of anxiety for sculptors.
Only 15 days are left for the implementation of new GST Regime and the experts have raised issues that service sector are facing the problems in shifting to new Goods and Service Tax (GST) Regime.
For the smooth functioning of GST Regime from 1st July, PK Sinha Cabinet Secretary said to all the ministries and departments to establish a GST facilitation cell to solve the problems of the industry.
Buyers no longer need to reverse their input tax credit (ITC) when a supplier issues a post-sale financial or commercial credit note. The Central Board of Indirect Taxes and Customs (CBIC) has clarified that even if payments are made at a discount, the buyer can retain the ITC. This provides significant relief for businesses and […]
