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There are just eight days remaining in the implementation of GST in India, but the oppose for it has still not stopped. Over 70,000 textile shops in more than 165 textile markets in Surat has reportedly been closed for five days from June 24 to 30.
GST will be soon going to be implemented across the nation on the July 1st, while all the rules and regulations are decided by the GST council.
In the views of Ajit Ranade, the Chief Economist of Aditya Birla Group, GST must ideally have only two slab rates instead of multiple tax rates.
Earlier, the role of CFO was limited to managing accounting and capital expenditure but now in the modern era, his role has been widened. It has become more strategic to meet the challenges faced by the Indian economy. As studied by various experts upon this particular role into an organisation, there was uncovered a new story.
GST compliance rating is a method of ranking particular taxpayer according to his tax return filing habits and maintaining that record on a public domain for every trader to see its prospective clients rating.
Few days before the launching of GST Regime the government on Wednesday disclosed that the taxpayers are required to submit only one return in a month similar to the taxpayers do earlier.
Recently, the government have made some relaxed rules and regulations for the home-buyers and has also asked the builders community to take care of the newly incorporated laws. But recently it was surfaced through sources that the builders are not doing what the government has asked them to do, in fact they are making an exact opposite action of it.
GST is an added advantage to the tax compliance of the nation with its dynamic applicability in the current environment of the fast-paced economy.
Finance Minister Arun Jaitley said on Tuesday, small business industries have been provided sufficient time to get ready for the new GST Regime from 1st July.
