Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Recent Apparel Export Promotion Council approached the Finance Minister and Textiles Minister regarding the issues of GST refunds and Rebate on State Levies (RoSL).
Security goods which are imported for Special Protection Group (SPG) who guards the Prime Minister has not been exempted from GST making a weird situation for the ministry.
The Telecom Regulatory Authority of India (TRAI) has recommended the FM, Arun Jaitley to lower applicable 18% GST on telecom services to 12%.
After the successful completion of 23rd GST Council Meeting, now the council will focus on the lower tax slab rates under GST. As well as converting the multiple slab rates into two or three to make the new regime smooth-functioning.
The prime minister of India Narendra Modi took a quick review of the basic GST and digital India campaign from the union council of minister. The PM was present on the occasion while other significant ministers like Revenue secretary Hansmukh Adhia and Union finance minister Arun Jaitley were addressing the council meeting with presentations.
Finally, the GST council has taken the notable taxation regime to its completion state, as on its meeting at national capital saw each and every bill passed with consensus. The council was determined to clear the bills and after all the rigorous discussion the council passed the State GST and Union territory GST bills.
The GST council has finally given some relief to the e-commerce retailers in hope to reduce the compliance as well as saving the capital for the same. The giants like Amazon and Flipkart were the first among the queue which was raising the issues and concern on the Tax Collected at Source clause after it was presented at the council’s meeting. The new draft law has proposed that the TCS will now be deducted at 1 percent and will be no limit thereof. The cap has assured that the levy will not surpass this given rate of tax.
It’s time for uncertainty as the Indian Revenue Service officers are in very much confusion regarding the decision which GST council threw upon the central board of revenue. The decision has been seen in a very panicked way as the imposed rule will flush out almost all the population of employees comprising the central board. In this regard Association of Indian Revenue Services (IRS) officers has also mailed a letter to the prime minister to seek redressal into this matter.
Central Board of Excise and Customs (CBEC) has alone emerged out of nowhere to oppose government’s decision to bring states in the place of the centre to assess the taxpayers in the ratio of 90 percent which in the terms of central employees will drop down the revenue generation garnered by the central authorities previously.
