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The equivocation in rates on some products under Goods and services tax (GST) is making the natural Rubber industry to go down. Here are the reasons impacting the rubber industry:
In a recent decision taken by the Modi government has given a relaxation and a worthy package of Rs 27,413 crore to all the hill states of India.
More than one month after the implementation of GST in India, the GST Network (GSTN) has now started the GST registration process for those people who do occasional business deals in one or more Indian states but have no business establishments there. The initiative was taken to make it easier for ‘casual’ businessmen to do business with a valid GST registration.
Goods and Services Tax (GST) can bring huge discounts before its introduction impelling the mobile manufacturers and retailers to remove their old stock from July 1. With the introduction of GST, the price of mobile handsets can be increased due to tax factors. It is speculated that some handset brands can offer discounts on both online and offline basis along with retailers who would cut some of the prices.
As per the reports, the pharmaceuticals industry has already started to de-stock and also returned their stock to the supplier companies for that same reason. Also, the GST council has given that the daily necessary items would be in the lower category of tax which has hinted the traders to de-stock their already available stock within their premise.
The upcoming goods and services tax has created a lot of puzzle in various sectors as the tax rules and implications will be changed and the effect will take some time to settle down. The medicine industry is also taking some setback just to ascertain the real impact of the GST on the business and has been holding stocks for avoiding the chances of losses in case of any sudden rate change.
If you are a salaried person, you must have got your Form 16 from your employer If the total income is more than Rs 5 lakh one has to mandatory go for e-filing. Also, refund of taxes becomes much faster when you opt for e-filing. These days one has various options through which he/she can […]
On May 20, 2024, in the case of Excellentvision Technical Academy Pvt. Ltd. v. State of U.P. [Writ Tax No. 554 of 2023, the Allahabad High Court highlights the need for the Revenue Department to record reasons in INS-01 before initiating search proceedings under Section 67 of the Central Goods and Services Tax (CGST) Act, […]
The Allahabad High Court in a ruling addressed the levied penalties under the U.P. GST Act for transporting goods without an e-way bill. The matter is towards levying the penalties via the Assistant Commissioner under the U.P. GST Act, 2017. While quoting the duration between February 2018 and March 2018, it was claimed by the […]
