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In a recent notification, the Central Board of Excise and Customs (CBEC) has clarified the doubts on GST (Goods and Services Tax) liability on an under-construction property and ready-to-move-in property.

Banarasi Saree and carpet Industry in a dilemma due to issues with GST procedures. Specifically, the constituency of the PM Narendra Modi, Varanasi and nearby areas are facing problems in continuing the business.

After the GST implementation, many changes have been taking place to make it a better tax reform in India. As Goods and Services Tax Network (GSTN) is the IT foundation of the newly integrated indirect tax regime, the GST council is putting efforts to make it more compatible according to taxpayers.

According to the recent data from the Centre for Monitoring Indian Economy (CMIE) has shown the biggest declines in the home loan growth.

SIAM which stands for Society of Indian Automobile Manufacturers is a significant Industry body for automobiles and engine manufacturers in the country.

According to the official sources, Those taxpayers failed to file returns under GST would get an official notification from the government very soon. The government is ready to issue notices to GST defaulters.

Several warnings from industry officials were ignored by the government in respect of complex taxation reform. GST Network, an Information Technology (IT) backbone required to handle all the activities of Goods and Services Tax (GST) Reform was not ready for the launch, said some of the officials.

The goods and services tax has proved to be a problem for even states too as the latest news from the finance minister of West Bengal Amit Mitra has confirmed. The minister said that there is a revenue shortfall of around 39,000 crores in the first four months of revenue collections which is much less than estimated.