Search results for: gst council

The GST council has offered a relaxation to all the FMCG companies which are into taking advance from the dealers and stockists before supplying the goods to the market by exempting them from GST on all such kind of advances.

Handloom and handicrafts industry again comes up in protest against the GST rate applicable to them. This protest came even after the 23rd GST council meeting reduced the tax rates on handicrafts and handloom down from 28-18 to 12 percent.

According to The Associated Chambers of Commerce and Industry of India (Assocham), if the Realty is put under the GST, it is required to come with moderate rate and stamp duty, without attaching the cost of housing and construction.

As the GST council has reduced the tax rates on restaurants from 12-18 percent to direct 5 percent, there is a happy vibe in the industry.

It has been more than four months after GST rollout and now it seems that revenue loss chances have reduced. Data collected from GST Council shows that States are continuously enhancing GST collection by the remission of last due dates, a release of late payment charges for some time, and efforts of the government to attract towards compliance.

According to the recent poll organized by Dhruva Advisors, nearly 50 percent CEOs appreciating the Prime Minister Narendra Modi decision to implement the new indirect tax regime from 1s July across the country.

Punjab businessmen demanding from the GST council to reduce the tax rates on dry dates from 12 percent (present) to 5 percent, similar to raisins and cashew nuts.

The government has now decided to utilize the CBEC expertise and its network of about 4500 Seva Kendras to provide solutions to the small businesses and taxpayers who are tackling with the complex return filing procedure of Goods and services tax.