Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The petroleum minister comes up with a statement saying that the Ministry is continuously working towards the inclusion of petroleum in the goods and service tax framework as it is thought to provide benefit to the states in overall. Petroleum minister Dharmendra Pradhan said that “This (the inclusion of petroleum in GST) will benefit the states also
Finally, Lok Sabha which passed the Finance bill completed the budget session which is an important exercise for this year 2017-18 in order to get the best out of economic agenda. As the finance bill is a depiction of the Money bill, it must pass through the Lok Sabha and after all, these, starting from April 1, 2017
The GST will bring with itself a revenue loss of about Rs. 60 Thousand crores to the center for discarding all the other 16 types of cess and sur-charges from the list.
The Union Finance Minister Arun Jaitley has given an unusual hint towards the legislation process and directed the budget session currently active to pass the goods and service related drafts and legislatures in reference to garner the benefits and revenue of indirect taxes as it will discard the rights of centre and states to collect the taxes after the deadline of September 15.
Goods and Services Tax is a significant step taken by the government of India to subsume all the additional indirect taxes which was previously levied such as VAT or sales tax, entertainment tax, entry tax, purchase tax, luxury tax, and octroi on the movement and purchase of goods and service
The GST is around the corner and the very few can ascertain that a new law has been incorporated i.e. Union Territories GST (UTGST). The GST council has included the UTGST in order to complete the constitutional obligation which says The Constitution (One Hundred and first Amendment) Act, 2016
Banks will confront challenges under the GST in light of changes to the place of supply standards under the GST. Section 10 of the Model GST Law makes particular taxable frames for every enrollment in each category, as these organizations will file more tax returns under this control because branches in each state should file […]
Contrasted with different businesses, the dairy segment has coordinate branches on the drain makers in India. In spite of the fact that most recent data is demonstrative that GST (Goods and Services Tax) would be connected at least 18% on all items, regardless of whether it is pertinent for all dairy items is not yet clear. It would be shocking if such a section is connected to prepared dairy items.
The CBEC chairman is still figuring out the ways in which the GST will disrupt and change the taxation norms but one thing is pretty sure according to him that the taxes will increase a bit from the current rate. CBEC chairman Najib shah mentioned that That is our belief (that the current level of taxation will not lessen at least for first five years. It will be the same, that’s our belief, and it will increase a bit.
