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Confederation of All India Traders (CAIT) is all set to transform trade leaders into ‘Master Trainers’ as a part of initiation for her GST drive. These 5000 master trainers will be responsible for sharing their knowledge and resolving queries and questions of the trading community over the regard of goods and service tax. CAIT and Tally solutions both have come up together to empower and educate people on the matter of GST.
The former union finance minister P. Chidambaram was seen directing the government to cut the indirect taxes as an agenda to increase the demands and also called for a rationalization over its advice on the newly affected goods and service tax. In this context, he said that GST is not around the corner. Not coming anywhere before October 1.
The GST council is all set to meet up again for its 10th meeting here at Udaipur, Rajasthan on 18th February to discuss and finalize all the pending bills and compensation rules.
In the wake up of GST many policies are arriving in the hands of all the ministries who are delicately concerned about the economic progression, and in the same direction, transportation ministry has proposed a vehicle scrap policy which will wipe out approximately 28 million commercial vehicles which have completed 15 years of tenure. This is a vast policy to be implemented in the vision of cumulative figures as it will impact various sector deeply.
The most cherished deal taking place currently on Indian shores is about Apple Inc to start their manufacturing plants here in India and to establish a home origin gadget distribution for the country. The plan to set up this gigantic production facility will not only provide the country locals with pocket-friendly devices but will also increase the economic situation of the nation.
People across the country may have to spend more for smartphones from the upcoming financial year due to having additional duty proposed in the new budget. The prices of the handset are expected to be increased because of the two percent additional duty imposed on the PCBs (Printed Circuit Boards) from April 1.
The Union Budget proposed on Wednesday is believed to fill up the gap between the present multiple indirect taxes and the upcoming indirect taxation (aka Goods and Service Tax).
Yesterday, Revenue Secretary Hasmukh Adhia suggested the proposed Goods and Services Tax (GST) as a merger to subsume all cesses except those on petroleum.
The Healthcare Federation of India (NATHEALTH) has suggested a 5% GST rate on the healthcare supply chain like medical equipment supply to hospitals. Presuming that the GST rate on the sale of diagnostic services by the hospitals to the patients will likely to be kept exempted from the indirect taxes.
