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The increase in domestic tourism, the number of foreign visitors and passengers travelling through airlines is a clear indication that 2018 will be a year of increased revenue and profit margins for the hospitality industry of India.

In a trial run by GSTN (Goods and Services Tax Network), it is noticed down that around 2 lakh GST e-way bills daily generated as suggested by GSTN CEO in a report.

Resulting from the 25th GST council meeting, the government has reduced the GST rates for home and local services startups to 5% from existing 18%.

The exponential growth of e-commerce in the last few years coupled with the Gst tax regime has escalated the demands for commercial vehicles.

According to ICRA rating agency, the fertilizer manufacturers are likely to be benefited with the reduction in tax rates under the GST as the tax rates on phosphorus acid reduced from 18 percent to 12 percent.

According to a poll result, the majority of economists favoured that the GST impact will not be seen before the next year and a lesser number said it might be visible soon.

The PM Narendra Modi has said that the upcoming union budget will not be the populist one and revealed that it is just a mere misconception that common man wants some freebies and sops.

After a long discussion, E- way Bill (trial) has been finally implemented in the country in January 2018. Since only 50 thousand people have registered for the service in the first five days, some experts believe that E- way bill took a very low start, as more than 80 lakh taxpayers are already registered on the GST Portal.

To deal with the increasing tax evasion cases, the Indian government is planning to bring the composition scheme under the reverse charge mechanism.