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The equivocation in rates on some products under Goods and services tax (GST) is making the natural Rubber industry to go down. Here are the reasons impacting the rubber industry:
After the implementation of the goods and services tax, the finance ministry has done some modification in its cash management system linked with the central government. The changes are done in the consideration of changes in the date of tax receipts due to the goods and services tax receipt.
As we all know that Kolkata is famous for rasgulla, Sandesh and mishti, But due to the high- GST tax rates on sweet dishes has put the sweet makers in the worrisome condition. However, Sweet Makers across West- Bengal are protesting for the Goods and Services Tax.
In the next coming weeks, the recently introduced Goods and Services Tax Regime (GST) will have to face the most critical test. The date of filing first returns had been extended by the Government in order to provide some more time to taxpayers as well as get their processes in place.
After the execution of Goods and Services Tax (GST) since 1st July across the country, the commerce ministry has arranged 60- outreach programs for members of trade and industry for solving issues related to the new indirect tax regime according to the official.
According to a Morgan Stanley Report, it is revealed that after the introduction of Goods and Services Tax Regime (GST) has made a reduction in India’s Inc net income for the first quarter of 2017. Since five quarters, the net profit growth of the nation reduced by 11 percent.
The Goods and Services Tax (GST) touted as the biggest tax reform since Independence came into effect from 1st July across the country.
Goods and services tax has a direct effect on the exports of India as many of the revenue subjects are associated with the industry.
According to the recent survey done by a private firm on Tuesday, it is disclosed that the history of nine years India’s factory production level fallen in July 2017, due to the implementation of Goods and Services Tax (GST).
