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GST impact on electronics industry is slightly negative as there are many products which are liable to be under lesser tax slab but still reeling under heavy tax pressure.
Education is one of the major sectors of any economy. The education of country’s youth will decide how the economy of that country will flourish. Education promotes understanding, vision, creativity and productivity of people which helps in the advancement of a country. In India, Education is provided with both by the public as well as private sector.
Finance Minister Arun Jaitley has been backing up the proposed GST rate structure which was divided into four rate slab in the previous meeting held. The tax rates of 6, 12, 18 and 26 per cent with almost every goods coming into the 18 percent structure.
GST has arrived with various comments which are not supporting its implementation as the former finance minister P Chidambaram clearly stated a negative opinion about the upcoming taxation regime.
Micro and Small Manufacturing & Service Enterprises has been given a financial help from the financial institutions in the schedule of an awareness program being held at GST & NSIC Finance (Loan) Facilitation Center.
Oil Minister Dharmendra Pradhan said that “GST Council will decide on this (taxation of petroleum products). On behalf of the industry, I would request the states to allow petroleum products to be brought under GST taxation.”
The Government of India on Sunday stated that the GST payments can be made online with the help of Credit or Debit cards. Hasmukh Adhia, Revenue Secretary, while addressing the Global Investors Summit said,
Government’s recent proposal to consider petroleum products under GST is a welcome move towards the rationalization of GST regime. Products like kerosene, naphtha and LPG will be under GST regime while the other items like crude oil, natural gas, aviation fuel, diesel, and petrol are out of GST regime during the initial years.
Central Board of Excise and Customs has given a clear indication to its working staff to shed off all the pending cases related to drawback payments and clearing pending refunds. The announcement has been made in order to make the way for GST and giving it a smooth hassle free structure to operate.
