The e-way bill is on the rest for now but soon it can be another barrier for small and medium enterprises after the recognized GST implementation.
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The e-way bill is on the rest for now but soon it can be another barrier for small and medium enterprises after the recognized GST implementation.
We have already discussed the GST Impact over Handicraft industries that, how adversely it impacted the handmade products. Now, this article is about GST impact on carpet industry.
On Tuesday, 10th October Sudhir Mungantiwar, Finance Minister of Maharashtra declared that all states have agreed to include petroleum and diesel products under the newly implemented indirect taxation system i.e. GST.
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.
Out of 65 lakh taxpayers, it is now evident that only 40 lakh taxpayers have filed returns under GSTR 1 for the month of July.
According to Amitabh Kant, CEO of NITI Aayog, top renowned oil companies such as Reliance Industries want petroleum products must be brought under the Goods and Services Tax (GST) Regime.
It is anticipated that the government might reduce the tax rates of items or products falling in the highest slab category i.e., 28 percent.
GST council revised the GST rates and took major decisions in a recent meeting to help small businesses and exporters. Now, the Council is not in a mood to further twist the GST rates.
After GST implementation, it may be on air that small businesses burdened with the tax but the initial report is not favouring the same.