Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Prime Minister’s Office urged to the nodal ministries to speed up efforts for bringing all states on one platform in compliance with bringing oil, natural gas, electricity, and coal under the ambit of GST, the goods and services tax.
As per the industry executives, it has come into being that Business Correspondents (BCs) are facing a challenging time under the goods and services tax (GST) regime.
The Finance Ministry has granted permission to the businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019.
Hero MotoCorp, country’s largest two-wheeler maker called for a reduction in GST rates on bikes and scooters to 18 percent which is currently 28 percent.
It is estimated that over 60 lakh MSMEs may come out from the Goods and Services Tax (GST) net if the threshold limit for micro, small and medium enterprises (MSMEs) is raised to ₹75 lakh.
GST collection dropped to Rs 94,726 crore in December 2018 as compared to November’s collection of Rs 97,637 crore.
Confederation of Indian Industry (CII) expressed its concerns regarding the Economic growth and laid emphasis on a settled GST. CII explained thoroughly that a settled GST would result in the improvement of Creditability and also in capacity expansion by an increment in infrastructure investment and these are amongst the seven key drivers that would help the Indian Economy grow by 7.5% next year.
The Goods and Services Tax (GST) has been introduced in India on 1 July 2017. Since then it has come across several challenges.
The single standard rate of GST was proposed by the Congress party but has not been accepted by the BJP Government earlier.
