Search results for: GST impact

The fuel prices across the state of Madhya Pradesh is considered to be the highest in the country. The reason behind the peak price of fuels is local taxes being levied by the state government. But now the conditions can be straightaway for the residents of MP as the GST has given the clue to make prices of fuel neutral.

The upcoming GST bill has got into the final transition to get the parliaments accent over all the legislation and the country will be having a great time to implement the new tax regime with seamless benefits. The official sources described that the finance ministry will be briefing the ruling party and all its MPs on the details on goods and service tax.

At the last, one can sure this fact that Lok sabha has cleared the much-anticipated bills to ensure the smooth road for the nation’s called taxation regime, the goods and service tax after 8 hours of long debate in the house. All the four bills which were due for their clarification were taken on the front by the opposition. All the bills namely Central goods and service tax, Compensation GST bill, Integrated GST bill and the UTGST have to find the way towards the roll out of GST as the historic tax scheme is now one step closer to the reality.

The government is leaving no stone unturned in the scenario to acquire the mighty powers which will help them to tackle the vast income grounding currently at a peak in the nation. Now the new

The upcoming GST may demand a pick over the pockets of the salaried employees as the suggestion and recent disclosure has unveiled that the goods and service tax regime may be applicable if an employee of an organization crosses its predetermined cost to company package and uses the resources of company’s assets or other personal facility being accommodated.

In a fortifying step to clear out each and every issue arising out of trade and industries in the concern for goods and service tax rolling out soon from July 1, which is just over three months from its execution, the government of India has harmoniously raised their hands to the aching community from every sector, be that from e-commerce, banking and insurance, logistics to come up with their problematic worries before the GST.

As speculated, the premium and luxury cars segment may get a cheap turn and will be approachable after the GST roll out. Reason being for this point may emerge after the said taxes like excise duty, value added tax, state level taxes such as Octroi, local body tax and cesses are going to dissolve. The benefits can emerge up to 4 to 12 percentage points lower than the current one levied.

Blue Star, an air conditioning manufacturing giant has revealed that the organization has held a heavy investment of around INR 220 crores in Jammu and Kashmir as the company is in doubt over the continuation of excise duty relaxation after the roll out of goods and service tax.

The GST will bring with itself a revenue loss of about Rs. 60 Thousand crores to the center for discarding all the other 16 types of cess and sur-charges from the list.