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In the case of poor demand situations, most producers opt for bringing prices down as a natural response. Then, why India’s automobile industry is demanding for cuts in GST rates besides owning for a slash in prices. The GST Council only will make a final decision on this at its meeting on Friday. Fundamentally, the […]
While colonizers from every sector (automobile, steel, real estate, etc.) are blaming high GST rates for their sector’s descending sales ratio. Amazingly, Bajaj Auto’s Managing director Rajiv Bajaj says that calamity in the automobile sector is the crop of its own culture and tax reduction is not required. Though the automobile is a $ 119 […]
The festive season, a period when Indians usually bring new vehicles to their home, ahead of it, the automakers are seeking to get tax relief in the upcoming 37th meet of GST council on September 20, have encountered a roadblock. Considering the slowdown in the domestic automotive industry, where the government is ready to slash […]
The last date for filing ITC-03 is around the corner and it is sprouting out an immediate need for clarification on many issues. Beyond the shadow of a doubt, the real estate sector is one of the crucial cornerstones of our National economy with its contribution of around 6-8% in the Gross Domestic Product (GDP) […]
The last rate for tax return filing for the Fiscal Year 2019 i.e. 31st August seized a sum of 49,29,121 tax returns being filed, as per the statement made to the press by the Income Tax department. The total number of ITRs filed in last four to five days of August is quite impressive and […]
Kerala Finance Minister disfavour the idea of dwindling GST rate on automobiles as a measure to lift the economic health of Nation, instead, he is making recommendations for fiscal expansion. According to Kerala FM Thomas Issac, GST rate cut on automobiles will not be profitable and it will only lead to revenue loss for the […]
The decline in the tax collection, Lower GDP, Complexity in filing & Non-competitive exports have proved a disappointing design of GST. However, according to Punjab FM Manpreet Singh Badal, GST can be redesigned & revisited and this is how the imperfections in GST can be transformed to perfection. He said, “GST has been a disappointment, […]
Micro Small and Medium Enterprises (MSME) is surely hidden from the limelight but is the core of economic growth in the nation. The sector lacks recognition by financial governance. As per the statistics, with the GDP over $3 trillion currently, India constitutes approx 63 million MSMEs which includes 45% of manufacturing industries and 31% of […]
The Modi-led government has recently announced that it will sort out all the major issues or glitches in the new GST system, which was also the key reason for the decline in indirect tax revenue. At the time when the GST regime was launched, the government has promised that the full benefits of GST reform […]
