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Now the travel agents who are into the online ticketing business and providing other services on the E-Commerce portals are considered as E-Commerce operators by the CBEC. The GST Council and the Central Board of Excise and Customs decided that the travel agents will have to deduct 1% tax collected at source (TCS) from the customers and will have to deposit it with the tax department.
The finance ministry is planning to set up an Anti-Profiteering Body to deal with fraud price hikes and to clear confusion over the new GST prices of goods and services.
The solar sector is troubled with the implementation of the new indirect regime as tax rates of solar products are not clear. However, suppliers yet not started passing benefits to the consumers that they acquiring from input tax credits- which is connected to high taxation rates and higher prices for customers.
The new Goods and Service Tax (GST) is going to implement from 1st July. The confusion about tax levies on statues and pictures of religious deities under new GST Regime has become an issue of anxiety for sculptors.
According to the Development Bank of Singapore, the country need not to be worried from the new taxation regime as basic or essential items have been placed in zero- rated or exempted category. So, the economic impact of new Goods and Service Tax (GST) will be inflationary with little or less influence.
For the smooth functioning of GST Regime from 1st July, PK Sinha Cabinet Secretary said to all the ministries and departments to establish a GST facilitation cell to solve the problems of the industry.
It is uncertain that what if the implementation of the Goods and services tax (GST) goes expensive with inflation goes higher but the government is still assuring the fact, that it won’t be the case in the GST.
A billion euro company of France named FM Logistics has decided to invest EUR50 million in coming four years in India which will be a major investment by the globally renowned company. The upcoming decision taken by the company is in the viewpoint of India’s decision to implement Goods and service tax in the taxation web.
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
