Powerd By SAG INFOTECH
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The prime minister of India Narendra Modi took a quick review of the basic GST and digital India campaign from the union council of minister. The PM was present on the occasion while other significant ministers like Revenue secretary Hansmukh Adhia and Union finance minister Arun Jaitley were addressing the council meeting with presentations.
World-renowned commodities trading expert and hedge fund manager Jim Rogers comes up to share the fact that he has been very much impressed with the performance and radical change that India has sustained during the stiff competitive times in the global market. The motto behind the basic entrance of rogers in India is the country’s growth and how it is responding to new ventures in every upcoming situation.
Goods and service tax is a widely popular taxation scheme all around the globe starting from France, as the country was the first in introducing a detailed and modeled GST scheme.
The former finance minister P Chidambaram has finally shared some views regarding the implementation date of Goods and service tax in India, as he said that October 1 will be the suitable date for the implementation of the new tax regime as the minister called it as a realistic deadline as of now due to the various factors prevailing in the market.
As the GST is approaching at a very fast pace towards India, many companies which are getting affected by this new taxation regime negative from their point of view are gearing up rate changes throughout their product lineup in order to cope up with the marginal profits which are set to drop once after the goods and service tax in India establishes.
In order to avoid the risk of various taxation under the GST regime, diamond jewellers are seeking exemption from levies on diamond processing.
This time with the upcoming goods and services tax regime in India, a new vigilant and supporting task has been tucked with the tax authorities in order to grow the tax paying data to a further more bit by the help of peer pressure in general.
As the goods and services tax is approaching towards the nation’s economic heart, many economists and tax experts are believing that the transactional data would soar high after the implementation of goods and service tax in India and will demand the business units to comply with the newly embedded tax regime very attentively and also rigorously.
Finally, the GST has seen the light of its day as the Rajya Sabha has approved each and every bill assumed in the regime to take over all previous forms of taxes prevailing in the country. The major concentration to be focused on the fact that the bills were passed without any amendments which have also given the idea of political consensus over the goods and services tax.
