Search results for: GST Act

A report by India Ratings revealed that the household savings rate has fallen abruptly from 23.6 per cent in 2012 to 16.3 per cent in 2017. If it continues with the same rate, there may be serious implications on the overall economic growth and stability, adds the report.

Since July 8, 2017 – the day when GST was implemented in J&K, it has been observed by tax officials that the state revenue collection in the state dropped down nearly by Rs 1300 crore.

In recent raids done by the Department of Legal Metrology officers, it was found that multiple chains of electronics and electrical appliances showrooms were doing the GST transactions in a wrong way.

The National Anti-Profiteering Authority doesn’t want to involve on rate cut tactics of sellers. It just wants that the benefits of a rate reduction in Goods and Services Tax should reach the end users.

It is very sad to know that the great man and prestigious politician of modern times in India, Mr Atal Bihari Vajpayee has done with the life and left its complete comrade of the political family behind.

In a bid to leverage all the benefits of the goods & services tax (GST) system and to make the holding structure easier, major registered companies like Hindustan Lever, Hindustan foods and Lux Industries have started merging their unlisted businesses within them.

Due to continuous GST framework discrepancies, the government’s decision to reduce rates to 8% from 12% for the affordable housing projects seems not appropriate for apartment purchasers.

Post-July 2018 (one year of GST), there has been a genuine effort by the Government and the GST Council, in particular, to cut down on the burden that GST rate has had on the common man’s pocket.