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The GST has created the confusion between publishers and authors and the question is that who is liable to pay 12% of Goods and Services Tax (GST) on royalties.
According to the report by Global Research and Analytics Firm, frequently used household products such as toothpaste, soap, edible oil, instant noodles, soap and much more are anticipated to get an increase in demand of 2-5% in coming 12 months.
Goods and services tax which was implemented recently and to be exact on 1st July 2017 with a lot of promises and work on progress tagline, is known to be subsuming all the indirect taxes into one.
Recently GSTN portal comes up with the newly integrated option of cancellation of GST registration. A businessman involved in the new tax policy and wanted to cancel their GST registration can now do away with it by the option available in the GSTN portal.
The Legal Metrological Department of Telangana government is all set to initiate a special check in the State after receiving so many complaints from the public about businesses are imposing GST over and above the MRP mentioned on the packet of the goods.
The GSTN system handles the IT infrastructure for GST regime, is soon going to unveil an online application for claiming the refunds.
To promote the prominent employment and foreign exchange generating sectors, the tourism ministry of India has introduced a concession in the GST rates and the proposal of ‘infrastructure status’ for five-star hotels.
GST composition scheme which is subjected to give relief to small businesses can be mold to new forms as GST Council is trying to make it more attractive and comprehensive for traders.
To deal with the tax-evaders, the anti-black money drive is established with the full power of strict compliance laws. To treat the evaders in a better way, the GST laws are designed in such a way to protect the taxpayers and extract out the tax-evaders in a check.
