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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.
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.
After a long wait, the dream comes true when GST become applicable across India. More than 2 decades wait for a strong tax reform regarding indirect taxation will be part of our Indian economy. Now after passing the bill in both houses of parliament and receive President Ascent, the bill became Law for our nation. After that the foundation of a GST council complying of states and central governments members and economics experts. The council will decide the rates, exemption and rules and regulation.
Congress has put all the efforts to control some of the points which would thereby repress the main motive of GST regime to fully function into its caliber. The issues that the Congress and its major finance ministers are pressing down is that of capping of GST rate to 18 per cent.
Goods and Services Tax (GST) has been praised by the Finance Ministry which marked 7 years of its incorporation and mentioned that the same has drawn relief to the households via diminishing the taxes on significant items such as household appliances and mobile phones. Established on July 1, 2017, GST replaced around 17 local taxes […]
A bunch of petitions have been dismissed by the Allahabad High Court contesting central and state government orders/notifications extending the time duration to file the GST return for the FY 2017-18 and also extending the time limit for its investigation and audit via tax officials. Because of the COVID-19 pandemic, the time limit to file […]
