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Over the past months, many businesses in the country have received GST notices. There are around 34% mismatches or less GST payment, concluding the deficit to Rs. 34,400 crores.
A report by CBRE, the world’s leading real estate firm, said that India’s Logistics and Industrial space leasing activity increased by 45% to about 10 million sq ft in the first half of 2018 as compared to the first half of 2017, primarily because of the GST implementation last year.
The law review panel of officers of the GST Council has recommended in its report that GST on freebies should be removed. Tax should be applicable to the gross value of such goods with the availability of input credit of tax, added the report presented by the committee.
Paint makers in India have increased prices of their products several times in the past years owing to the increase in the prices of raw materials and import duties and depreciation in the rupee value.
For starters, Advance Ruling under GST is written decisions/clarifications issued by tax authorities against requests from individuals or businesses on specific doubts over proposed or already undertaken supply of goods/services.
For starters, a trade deficit is a measure of a particular country’s trade balance i.e the value of a country’s exports and its imports.
Under the new GST Tax regime, it seems the plight of the disabled has gone to deaf ears. In Pre-GST times aids like wheelchairs, crutches were zero-rated.
It is a good news for private ITI students as the government has removed GST on those ITI trades (courses) which come under the Apprentice Act 1961.
The CBIC has extended the due dates for Kerala taxpayers in the conditions of severe floods and disruptions. Also, The authorities have extended the GST return filing due dates in the Mahe (Puducherry) and Kodagu (Karnataka).
