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Cabinet Committee on Economic Affairs (CCEA) has given a relaxing news to the CBEC by sanctioning a good Rs. 2,256 crore to help build them IT structure which will link CBECs system with GST network. The decision is taken to encounter the timeline of 1 April 2017, the roll out of GST.
The expert belief has suggested that Goods and Service Tax will bring some competitiveness into the MSMEs Arena. The Micro Small Medium Enterprise as of now scattered into organized and unorganized sector but both of them will come into an active position to meet the rumble. The said gesture was made by experts at manufacturing conclave which was held by Confederation of Indian Industries (CII) on Tuesday.
GST will be bringing a complex structure with itself by the procedures and a vast network of operation it would run into, however, the government has identified some sorting into the issue and has taken a viewpoint into consideration that all the payments and monetary transactions will be held through online.
After a long wait, the dream comes true when GST become applicable across India. More than 2 decades wait for a strong tax reform regarding indirect taxation will be part of our Indian economy. Now after passing the bill in both houses of parliament and receive President Ascent, the bill became Law for our nation. After that the foundation of a GST council complying of states and central governments members and economics experts. The council will decide the rates, exemption and rules and regulation.
Tripura Government held a very decent and smooth pass on the very significant Goods and Service tax while there were no legislations up from Left Front and even Trinamool Congress or Indian National Congress had any doubt in their mind regarding the GST.
The two-day meeting of GST council that started on Thursday has come up with a striking news and has given an exact limit on which the threshold amount has been set.
The GST Council has been inviting more number of states to discuss over GST in order to clear all the doubts and fix the issues before the deadline. The first meeting of GST held on Thursday has decided to hold the predetermined date of the roll out to be 1st April 2017.
The South Indian Film Chamber of Commerce (SIFCC) is seeking a resolution from the Union finance ministry quoting the adverse effects of GST on the film industry.
A meeting regarding the GST application and its roll out was turned out to ensure that the timeline can be achieved within the framework, in which finance minister Arun Jaitley took a firm decision to establish a ‘war room’ to tackle the oncoming hurdles of GST. The war room establishment is reviewed on the daily […]
