Search results for: Goods and Services Tax

It is the matter of confusion that why there is GST on the renewable energy certificates and no tax on the power itself. The trade industry found it very weird that there is a GST on the RECs and there is no provision of GST on the electricity so far.

As mentioned earlier GST would be the Goods and Simple Tax, the definition is going completely against for the apparel exports industry.

The recent action of Supreme Court in regard sending notices to Ultratech Cement Ltd. for credit reversal is an indication of gazing on another manufacturer.

It is very weird to find that GST refund complaints are not eligible due to the internal misrepresentation. The exporters of garment industry have falsely said that they are not getting the GST refunds, while in fact, they didn’t even apply for the same.

After the GST rollout, instead of elimination of cascading effects from prevailing indirect tax regime, the contractors have to pay GST two times.

Former reserve bank of India governor Raghuram Rajan stated that the goods and service tax is not that hard to understand and to fix although he made a counter-attack on the implementation of demonetization.

A load of previously imposed 12% GST on the houses of the low wage groups has been reduced under the Pradhan Mantri Awas Yojana. After the notification of central government, approximately 30 thousand families in Lucknow have to pay low taxes.

As the set target of eight months which stand at Rs. 7.28 trillion, the government slightly collected the revenue Rs. 100 billion low, as compared to the basic target mentioned by the authority for the starting eight months of Goods and Services implementation.

In a welcome move by India’s Insurance sector regulator, the IRDAI, a total of 24 schemes due for reinsurance were exempted from the ambit of the GST.