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The reserve bank of India got a new governor namely Shaktikanta Das, who was also a former economic affairs secretary and also the member of finance commision currently.
In a move that promises landscape changes to India’s logistics landscape, the revenue department plans to integrate e-way bill with DMICDC’s Logistics Data Bank (LDB) services and NHAI’s FASTag mechanism.
The Bihar Deputy Chief Minister and GST Network GoM panel head Sushil Kumar Modi hinted towards the abolishment of the highest GST rate in the slab i.e. 28% as soon as possible.
E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.
All the Foreign companies who are operating in the E-commerce space and catering to the Indian consumers are directed to get themselves registered to the GST in all States.
The government has directed the E-commerce companies to start collecting up to 1 percent TCS in the course of making any payment to suppliers under GST.
In a recent crackdown over illegal GST collection, this time the government itself found to be collecting goods and services tax on RTI which is totally out of the ambit of the new indirect tax regime.
GST was always an ambitious plan when one takes into consideration the diversity that India as a nation subsumes within its territorial boundaries.
GST was touted as ‘One Nation One Tax’ since its introduction on July 1st, 2017 GST has undergone many changes both structural and provisional.
