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The GST regime has a clause to be ascertained as the assumptions are stacking at the need of GST secretariat would be the next demand by every state after the implementation of the upcoming taxation reform. This need has been raised to cope up with day to day issues resolving the GST procedures.

Reserve Bank of India, a high commission emblem in Banking fraternity is very much sure that the GST pre-decided rate will be coming to a good position while sticking to 18 percent which will be no harm to the CPI inflation charts too.

Ajay Kanwal, CEO Asean and South Asia at Standard Chartered Bank, visited India as part of the Singapore business forum along with Singapore Prime Minister Lee Hsien Loong, was seated along with media personnel and shared some positive notes about the upcoming taxation reform GST in India along with future planning of the bank in the country.

The commercial Tax department has been enraged by the upcoming GST regime and its shortfalls over the Union government and demands the government attention on the issues related to GST. The protest like scenario was created in Vizianagaram and Srikakulam on Monday.

The disagreement emerged between the states and Centre regarding the Centre’s administrative control of service tax assessees, which was earlier accepted in the first meeting. The council didn’t accept the points noted down on the first meeting which was held on 23rd September.

GST application is proving tons of work and pressure on the government which has to roll out the reformative taxation regime on a pre-decided timeline of 1 April 2017. In the direction of preparation, the revenue department has to scoop up the training session to a steep level as there is a giant target of 60,000 official to be trained in a meager amount of time.

Electric vehicles have got much fame in recent years due to their economical maintenance and environmentally friendly behavior. Now the manufacturers of electric vehicles have demanded relaxation from GST on the basis of aforementioned facts. Also, the impact of the GST on the auto industry is expected to be fruitful according to leading automakers in India and the on-road price of vehicles will also go down under the GST regime.

Finance Minister Arun Jaitley has given a concern about complacency by India’s listing in Global Competitiveness Index (GCI). The implementation of GST will also improve the competitiveness of the SME sector as well. Jaitley also noted down that India has improved its position by taking 39th place out of 138 countries in the list.

GST structure will need a good number of expert officials and trained staff which can keep the taxation in flow, and in this same direction the state commercial tax department is building a team of experts which can further guide and make ready those officials who would be dealing with the core aspects of Goods and Service Tax regime expected to roll out on April 1, 2017.