The government is ready to convey the surveys and searches for the businesses who haven’t paid the taxes yet and will try to bring more of companies under the umbrella of GST net.
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The government is ready to convey the surveys and searches for the businesses who haven’t paid the taxes yet and will try to bring more of companies under the umbrella of GST net.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.
The implementation of Goods and Services Tax (GST) Regime is definitely a favorable step for the country in terms of economic growth as a whole.
In some fruitful decisions taken by GST council to promote the tax scheme well in the society for its upbringing, there are some faults which have been captured to put a question mark on it.
With an immense filled up hall at Diwan-e-aam, The Taj Mahal Hotel, Mansingh Road, New Delhi, the Revenue Secretary of India Hasmukh Adhia, commenced the most happening event after the implementation of GST.
Adverse effects of GST(Goods and Services) regime can be clearly seen over handicraft industries. Census data says there is a huge downfall in handicraft industry from 1996 to 2010. The growth has slashed by approx. 53% which is a drastic price change we can see on hand-made products. Apart from this, the new tax framework also intercepting the growth of the industry.
GST or Goods and Services Tax System has been finally implemented in the country from 1st July 2017. Excluding SUVs and large cars, Indian Automobile industry mostly benefited after the implementation of the new tax regime as there has been a significant reduction in the prices of the new cars across all segments in the GST regime
The equivocation in rates on some products under Goods and services tax (GST) is making the natural Rubber industry to go down. Here are the reasons impacting the rubber industry:
For affordable housings, GST rates on work contracts have been reduced from 18 percent to 12 percent by the government. However, the impact on prices of affordable housing for buyers remains same as earlier, confirmed industry officials that buyers can continue to purchase the finished houses at the predefined GST rate of 12 percent.