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The Goods and Services Tax has a reason to give numerous opportunities to the financial caretakers of companies and organization who rely on Chartered Accountants for all their statistical and accounting data maintenance.
Renowned as the heart of India, Madhya Pradesh will be turned out as a supply hub for the companies meant for transporting goods, posted implementation of GST in the country, Finance Minister Arun Jaitley said on Saturday.
The Government of India on Sunday stated that the GST payments can be made online with the help of Credit or Debit cards. Hasmukh Adhia, Revenue Secretary, while addressing the Global Investors Summit said,
GST (Goods and Service Tax) is supposed to affect almost every sector of the country, due to which major industrialists have a fear of getting cut in their tax rebates. On which Chief Minister of Madhya Pradesh, Shivraj Singh Chouhan assured that the tax concessions over the industries will continue even after the implementation of GST.
The upcoming November 2016 is expected to be a big month for GSTN (Goods and Service Tax Network). According to a top official, the GSTN, which is expected to deliver common and shared IT infrastructure for implementation of GST will represent the details of nearly 80 lakh running assessees of excise, customs tax, service tax, and value-added tax.
IATA (International Air Transport Association) has asked for some modifications in the Airline tickets rate under GST. According to IATA, the Aviation sector was already under high tax burden and GST should help the sector abide by global standards.
Goods and service tax has been proving fruitful in many cases as the executive chairman of the Templeton Emerging Markets Group, Mark Mobius has suggested. He has shown the sign that there will be a mark of 20 percent in the earning of companies.
Retailer association of Indian community has given a consent that the upcoming GST rate must be close to the current rate of tax applied to the market. A statement from the association was that The delegation emphasized the need to transition to Goods and Services Tax (GST) at rates as close as possible to the current effective rate of tax.
The state government of Bhopal has cleared a relaxing point that it will continue to offer the compensations to the newly set up industries which are subjected to the compensation under the promotion campaign started by the state authorities.
