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Goods and service tax will create an all round difference in the economy as well as in the functionality of business units and in this matter, a various lower business might try to bring down their actual income in the bracket of 20 to 50 lakh in order to save 1-2 percent over the generated tax obligation.
Goods and services tax is just doing well in its approach towards the national financial and economic structure. Various experts have sorted out different ways in which the procedural and the working of business will get affected and will adopt a new course of working under the GST regime.
The apex body along with the responsible team of ministers and tax officials will be organizing a meeting to discuss and finalize the service tax under the GST.
SAG Infotech is offering a 10% commision to the reseller partner of Gen GST Software on each new deal.
The government is restructuring every possible move to synchronize with the upcoming GST regime, now the center is validating the point to keep the GST rates for a section of the product as neutral as possible.
Economic Affairs secretary Shaktikanta das cleared some doubts regarding the impact of GST on the basic nature of economic condition of the country and said that demonetization along with GST has the capabilities to take the tax to GDP ratio to a wider base while doing an overall improvement in the growth of economy in coming two-three years from now.
Central Board of Excise and Customs (CBEC) has proposed an e-way bill in the event of transiting goods worth INR 50,000 under the GST regime. This will ask for online registration of the goods consignment and this will give the tax authorities a right to inspect the element anytime if suspected of a tax evasion.
Finally the non-profit GSTN organization has assured of the data secured under its wallet as totally encrypted and can only be accessed by the authority officers and taxpayers.
Xiaomi, Asus, Motorola, Lenovo Oppo, Vivo, Infocus are some of the smartphone manufacturing companies which are building offline retail chain in the view of the equal marketplace on both online and offline after the GST comes into the picture.
