Powerd By SAG INFOTECH
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In a bid to leverage all the benefits of the goods & services tax (GST) system and to make the holding structure easier, major registered companies like Hindustan Lever, Hindustan foods and Lux Industries have started merging their unlisted businesses within them.
Due to continuous GST framework discrepancies, the government’s decision to reduce rates to 8% from 12% for the affordable housing projects seems not appropriate for apartment purchasers.
A recent order from the Karnataka Authority of Advance Rulings says that services rendered within a company by one office to another which is located in a different state will attract GST.
Post-July 2018 (one year of GST), there has been a genuine effort by the Government and the GST Council, in particular, to cut down on the burden that GST rate has had on the common man’s pocket.
In the metropolitan cities, Private Schools have bypassed government schools to become the first choice of parents when it comes to their child’s education over the last couple of years.
As per the new amendments made to CGST Act in the Lok Sabha, the centre has excluded the provision of credit available for the Cess paid when transiting from GST considering previous indirect tax regime.
Recently the Ministry of corporate affairs has issued a new revised draft for the amendment of details to be given in the cost audit reports required by the companies to submit them with the government.
The Finance Ministry has still not made a decision in the 29th GST council meeting on the rules and conditions to give a refund of GST on goods purchased by foreigners to take them out of India.
All started when the MP High Court has supported the move to impose a fine of Rs. 1,32,13,683 on Gati Kintetsu Express Pvt Ltd as it failed to comply as per the requirement of the e-Way bill.
