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The Research published by the credit-rating body ICRA has brought good news for the Indian Corporate Sector. Aided mainly by the festive season, the sector has shown recovery from the initial jolt felt during the transition phase of the newly implemented GST tax regime.

Finally, with the implementation of GST last year, India embarked into a new era of indirect taxes.The response to GST by Indian industries has been a mixed bag. The industry is slowly but surely getting acquainted with the new laws and changes brought to various sectors by it.

The government is planning to ease the profiteering complaint filing forms which are filed against wrong benefits generated under new tax regime, said a senior official.

Coaching Centers in India are an industry on their own. Ask a parent and you would know how costly private tuitions are.

With the increasing fear of declining GST collection, the government can change the procedure of the Invoice Matching system. In consideration of this move, the invoice matching is not done by the assessee but it will be done by the tax department itself.

The government authorities are in discussion to further extend the limit of composition scheme under GST as to give relief to the taxpayers.

With the implementation of the biggest reform (GST) in the modern history of India, the expectations were quite high. It is meant to benefit the businesses and economy equally coming under the ambit of Goods and Services Tax.

Finance Ministry Arun Jaitley said that it is not possible to implement a single GST slab rate in the diversified country like India because the substantial population in the country are from below poverty line (BPL), so the process of different slab rates under GST will continue in India.

The Gujarat Income Tax department is quite happy with the government move to wipe out black money and bring more people under the GST ambit by Demonetization and GST initiatives.