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The GST Council is ready to cut down the items from the list of maximum tax slab of 28% by moving some products of daily usage and products from SMEs (Small and Medium Enterprises) to another lesser tax slab.
According to the survey organized by Nikkei Purchasing Managers’ Index (PMI), a private firm reported that the manufacturing activity fell down in the month of October but the companies hired a large number of workers to provide greater services to the users in respect of outstanding business.
All retail chains and shopping malls are preparing for a Mega Sale around the year-end and the reason is well-known disruption caused by GST.
Bimal Jalan, former RBI governor, has advised that the GST council needs to transfer the authority from the centre to local governments because preferences of states are diverse according to the poor and rich status.
To fight against the difficulties being faced by traders in GST return filing, a forward step has been taken by the Gujarat traders.
GST composition scheme which is subjected to give relief to small businesses can be mold to new forms as GST Council is trying to make it more attractive and comprehensive for traders.
Income Tax Department is seeking information on past transaction details from banks and financial institutions. Through past transaction details, tax department will be able to determine Goods and Services Tax (GST) calculations.
Free supplies of goods and services have been frequently used by the businesses to promote their products in the market. The situation arises when the receiver/ buyer tries to obtain good quality material at a bargained price in the market.
The sub-section (2) of section 146 of the Customs Act,1962 (52 of 1962) defines Custom house agents as the persons registered, provisionally or else, to be employed by the licensee to help him in his work as an agent. There are so many confusion regarding the Custom House Agents provisions under GST Regime, so here is the article to solve all the doubts pertaining the same.
