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GST was a complete overhaul of the existing taxation system in India. Powered by the GSTN Network, it was India’s first big step towards a true digital economy.
In a good gesture to the print and electronic media, the Jammu and Kashmir government announced that it would be paying the goods and services tax applicable to the media and advertisement of the state government itself.
Input Tax Credit is the lifeline of GST Revenue generation as well as ensures the smooth business functioning of private business firms and taxpayers.
There are a lot of business opportunities for the logistics startups in the GST e-way bill based setup. As everyone knows that the first launch of E-way bill was not a smooth one. It was marred by GSTN traffic overload issues.
During the meeting held at the central GST departmental commissioner, Ludhiana, the traders have been informed that as it is compulsory to generate e-way bill before leaving the state for other states to transfer the goods.
GST E-way bill has been implemented from April 1st, 2018 and more than 11.18 lakh taxpayers registered through the online e-way bill portal till now.
The 21st century India has witnessed the rise of the middle class and consumerism in India. From being a mixed economy state and guilty of practising crony capitalism for over five decades, the new India is finally emerging from the shadows of the past.
A load of previously imposed 12% GST on the houses of the low wage groups has been reduced under the Pradhan Mantri Awas Yojana. After the notification of central government, approximately 30 thousand families in Lucknow have to pay low taxes.
GST e-way bill was introduced to ensure quick, easy and error-free transportation of goods across the country. To make it easier for businesses to move their goods between cities and states, the government has actively replaced all existing check posts with the e-way bill system.
