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Goods and services tax made an all round effects on the economy and on the budget as well. Various fragments of Indian trade and management forums have seen a change in the budget formation starting from the GST advent.
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.
No result found! Clear search 1. Overview of Goods and Services Tax (GST) 1. What is Goods and Services Tax(GST)? It is a destination-based tax on the consumption of goods and services. It is proposed to be levied at all stages right from manufacture up to final consumption with credit of taxes paid at previous […]
The newly implemented indirect tax regime is influencing the agriculture industry and farmers due to the 5 per cent GST rates on agricultural products.
The Union government has been requested by the Federation of Coimbatore Industrial Associations (FOCIA) to create a distinct GST slab for the goods produced by micro, small, and medium-sized enterprises (MSMEs), as these businesses are unable to compete with large corporations. On Sunday, representatives from 20 MSME organizations gathered to address issues they were facing. […]
In order to increase India’s competitiveness in cash-strapped Western markets, the government is expected to propose changes to the tariff structure for the $200 billion Indian clothing and textile sector in the Union budget next month, according to a senior government official. According to textile producers, the high cost of cotton has pushed them to […]
Discussion about section 54B of the Income Tax Act, 1961 w.e.f. AY 1970-71 Capital gain on the land transfer utilized for agricultural purposes does not get levied in some cases. Latest Update 54B. (1) (w.e.f. AY 1974-75) as per the provisions of sub-section (2), (w.e.f. AY 1988-89) in which the capital gain has produced through […]
Dairy Farmer is Not Accepting the Increase in GST Rates As the government has raised the GST on dairy products. The GST rate has risen from 5%. Also, the GST rates are raised on the machinery utilized in the dairy industry. The same would become a problem for the dairy farmers. Because of the same […]
Under the Amnesty scheme 2020, Kerala GST officials provide instructions for the settlement of arrears. The province of Commissioner of KGST in the context of Kerala Finance Bill, 2020 to assure constancy in bringing out the improvements performed in different Laws and conditions with regards to Amnesty Scheme, 2020The Indian government is planning to launch […]
