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Speaking during the seminar held by Chhattisgarh Chamber of Commerce and Industries (CCCI), Finance Minister Piyush Goyal said that the past one year of GST was quite good and the government managed to get sufficient revenue from the indirect tax.
Seeking problems faced by taxpayers in GST filing, GST practitioners have come forward in order to form a Joint Action Committee (JAC).
Before GST implementation, the car market slowed down because people were waiting for car prices to go down. Passenger vehicles have recorded 37.5% growth in June 2018 and amazingly it is the first time in last eight years that the market has touched such a record.
The Finance Ministry’s notification to levy GST on flagship Post-Graduate programmes has created a few sleepless nights for one of India’s premier institute known for churning out highly paid management post-graduates from its campus each year.
The unorganised sector, as the name says, represents those businesses that are unincorporated (not governed by any official entity).
In a meeting held of the finance ministers of various Indian states for reviewing of the GST reverse charge mechanism, it has been recommended that section 9(4) of the CGST Act, 2017 should be deleted.
The Authority for Advance Ruling or AAR (Rajasthan) has cleared all pervading ambiguities over GST and Electricity. While Electricity is not under the direct ambit of the GST, but electricity invoices can have GST components at times.
Group of Ministers are expected to hold a meeting on 8th July for final discussions over reverse charge mechanism and tax discount on the digital payments under GST.
Builders and buyers have found out the new ways to save 12% GST for under construction flats. As under construction projects engage with difficulties in possession holding, further an introduction of GST in this field has reduced the demand for such projects.
