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After the implementation of the goods and services tax, the finance ministry has done some modification in its cash management system linked with the central government. The changes are done in the consideration of changes in the date of tax receipts due to the goods and services tax receipt.
The Narendra Modi government is ready to issue an ordinance over the coming weeks for increasing cess from 15 percent to 25 percent on luxury cars and Sports Utility Vehicles (SUVs).
Retail has become the second largest sector after the agriculture and it has made a life time opportunity for the people working in the sector.
According to a Morgan Stanley Report, it is revealed that after the introduction of Goods and Services Tax Regime (GST) has made a reduction in India’s Inc net income for the first quarter of 2017. Since five quarters, the net profit growth of the nation reduced by 11 percent.
The Goods and Services Tax (GST) touted as the biggest tax reform since Independence came into effect from 1st July across the country.
It has been found that the Indian traders are getting hands on the comprehensive economic agreement (CEA) with South Korea for the illegal track of gold to devoid import duties applicable for getting bullion in the country.
The newly released economic survey mentioned clearly that the achievement of expected GDP is somehow very difficult to retain at around 6.75 to 7.5 percent. It also suggested that the there should be more reduction in the interest rates which will increase the flow of the economy.
The GST Council, in association with the government, is soon going to start releasing the rate lists for different goods under GST. This is to inform buyers about the reductions in the price of products after the implementation of GST.
This year the smartphone sales may see a plunge by the effects of Jio Phone, which is set to kick out as many looting smartphone companies who offer even general telecom services on a big price bag. The smartphone industry was already aching with the after effects of GST which was due to the ambiguity of decisions. Now the Jio Phone which came as a rescuer for the feature phone users in India.
