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The goods and services tax has been rolled out and already half a month is elapsed but still, the issues regarding registration prevail in the trading community. All the issues are related to the technical shortcomings of GST portal. Some of the common issues like Invalid user ID of taxpayers, URL error, ID not activated are still prevalent on the screens of traders trying to understand this new tax regime.
The goods and services tax has been into the economic structure of the nation from the last two weeks and now it’s time to review everything for a better control in upcoming prospects. The GST Council will be meeting today to have an overview of the goods and services and all the work done by the tax scheme.
The rice lovers across India now have to pay a bit more to enjoy their favourite meal, as the profit margins of the branded Basmati rice manufacturers and exporters are expected to face a bit of decrement due to the liable 5% GST implemented from July 1.
GST has been implemented in India and is now making all the businesses compatible with it rapidly. Recently, a new announcement has been made by the GST Network, according to which, every small business across the country with the turnover of up to Rs 75 lakh can opt for composition scheme under Goods and Service Tax regime by July 21.
The Deputy Chief Minister Sisodia declared that for addressing the problems or issues of traders related to the new Goods and Services Tax (GST) regime the Government of Delhi will run six GST help vans in the commercial areas and help desks in the small markets.
Tax department recently mentioned that after the implementation of GST, there can be a huge game of corruption which is underlying in the shell companies being registered for many years.
The goods and service tax will be a no stone heavy for the boarding and lodging students of under class X. The parents can take a sigh of relief as the government has announced clarification over the GST being actualised across the nation.
Prime Minister Narendra Modi has communicated to the Chief Secretaries of all States that business entities and traders must register in the new Goods and Service Tax (GST) regime before 15th August.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
