The Goods and Services Tax (GST) has somehow affected every individual and business in India. Let’s take a look at the impact of GST on the prices of daily-use goods.
Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
The Goods and Services Tax (GST) has somehow affected every individual and business in India. Let’s take a look at the impact of GST on the prices of daily-use goods.
On Tuesday, Finance Minister Arun Jaitley assured that the Government would take necessary steps to ensure easy GST compliance. However, the Finance Minister denied even a minuscule possibility of implementing a single tax rate for GST.
The Goods and Services tax (GST) is both a challenge and an opportunity in effectively managing the working capital. There are many media houses that will help you to navigate its complexities and extract the maximum benefits from the new tax regime offers in managing working capital.
In the budget presented on Wednesday, for the financial year of 2018-19, food processing industry has felt deep disappointment over the demand for removing the Mandi charges on pulse and oil crops.
In spite of all government claims that after GST implementation the return filing number will increase, the total number of returns filed in these seven months proving the claim wrong.
Approximately 70,000 co-operative Housing Societies have noticed crossing an annual turnover of Rs. 20-lakh in Mumbai, Maharashtra have to register under new indirect tax regime, as per the report generated by The Times of India.
As confirmed by the Central Board of Excise and Customs (CBEC), errors by exporters in filing GST returns are causing the delay in disbursing tax refunds. Only a third of the total returns filed under the new tax regime are eligible for tax refunds and the refund process for those with clear documents has begun.
The Directorate General of Safeguards (DGS) recently asked Hindustan Unilever about clarifications regarding the methodology used by the company in reaching Rs 119 crore to the government after it was not able to pass the GST benefits to customers.
It seems that after the implementation of goods and services tax in India, the commercial and sales tax department are in vain to utilise their powers and enforce regulations. This is due to the incomplete and no officials conveying of duties and responsibilities to the department in accordance with the GST.