Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
More than one month after the implementation of GST in India, the GST Network (GSTN) has now started the GST registration process for those people who do occasional business deals in one or more Indian states but have no business establishments there. The initiative was taken to make it easier for ‘casual’ businessmen to do business with a valid GST registration.
Recently, the government announced a straight away cut the GST rates on all the job work related to natural fibres which include woollens and cotton. But it is unexpected that still, the prices of textiles products will be unaffected. Means that there will be same prices applicable which were earlier decided in keeping purview of GST.
The GST Council, in association with the government, is soon going to start releasing the rate lists for different goods under GST. This is to inform buyers about the reductions in the price of products after the implementation of GST.
One of the experts in market studies and industry research stated that the Cess which is introduced in the GST for compensating the loss of the states can possibly be dropped after five years in the lieu of the structured tax system which will otherwise fulfill the revenue of state government.
The former Chief economic advisor of India, Mr Kaushik Basu said that there has been a drastically declining of inflation rate which is both good and bad.
This year the smartphone sales may see a plunge by the effects of Jio Phone, which is set to kick out as many looting smartphone companies who offer even general telecom services on a big price bag. The smartphone industry was already aching with the after effects of GST which was due to the ambiguity of decisions. Now the Jio Phone which came as a rescuer for the feature phone users in India.
According to the recent survey done by a private firm on Tuesday, it is disclosed that the history of nine years India’s factory production level fallen in July 2017, due to the implementation of Goods and Services Tax (GST).
If you aren’t getting your company-branded writing pads or pens, blame those shortage on the Goods and Services Tax (GST). For tax advisers also in-house finance teams, managing vendors that supply pens, writing pads, pencils, staplers, and printing paper-rolls has turned out to be a major challenge after the implementation of the single producer levy.
The new GST tax regime has also not exempted the individuals, software professionals and the freelancers, who dealt in exporting services and softwares. Under GST law, every individual involved in supplying any goods and service outside the country, is mandate to register self for GSTIN.
