Search results for: GST impact

A top authority mentioned that the GST Council might choose to diminish the assessment slabs under the Goods and Services Tax administration in the wake of investigating the income accumulated and the remuneration payouts to states. With industry requesting for bringing down of proposed GST rates of 5 , 12 , 18 and 28 percent post the demonetization, CBEC Chairman Najib Shah said the Centre and the states at present gather Rs 8 lakh crore from indirect charges, fewer custom duties, and a similar level of income must be gathered in the GST administration.

Goods and Service Tax (GST) pull up enormous tax collection changes for the state. With collected tax administration happening, it would prompt to reject wide assortments of expenses like amusement assessment, VAT, Central Sales Tax, entry charge from general things.

Qatar’s RasGas, the biggest LNG exporter to India, today looked for incorporation of gas in the Goods and Services Tax (GST) administration to make assessees on the green fuel uniform and extra purchases from falling different duties.

The take off of the Goods and Services Tax (GST) will cost the administration up to Rs 16,000 crore to move on its goal-oriented program to take old trucks to go under the Voluntary Vehicle Modernization Program (V-VMP).

The presentation of GST will make a level-playing section for the greater fabric makers as little or chaotic area won’t have the capacity to utilize a portion of the present practices to keep themselves aggressive, as said by the authorized source.

The States have requested that the Union government be “liberal” towards them given the impacts of demonetization and the ensuing anticipated drop in incomes. They have additionally referred to the unwinding in getting limits recommended by the Fiscal Responsibility and Budget Management (FRBM) Act.

Union FM Arun Jaitley on Friday said that there is a sacred impulse to execute the Goods and Services Tax (GST) inside its due date, and its usage can not be deferred past September 2017.

State Commissioner of Commercial Taxes Ritvik Pandey on Wednesday said that the Goods and Services Tax (GST) will increase the inter-State transactions and will be positive to the port towns like Mangaluru.

There is a lot more discussed these days about the demonetization and GST alike their financial impact on the economy. Neelkanth Mishra of Credit Suisse says, Since November 8, the performance of Indian equities has been middling among emerging markets, though it should have been among the least affected.