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Even though the demonetisation and GST effects may have faded away with the time, it seems that the Karnataka’s farm sector is still under bad conditions due to these two factors that caused a massive eruption in the Indian economy recently.
In a mass movement strategy, now most of the reputed FMCG and IT firms are likely to file petitions in the court of Mumbai and Delhi to seek more clarity on the anti-profiteering clause of the GST.
The government authorities have clarified that the mess facility which is provided to staff or students will continue to be taxable at 5 percent without any input tax credit.
The taxpayers who have opted for the composition scheme under the GST, it is mandatory for them to file GSTR 4 returns once in every three months (Quarterly).
Strict actions have been taken by the government against 17,527 alleged tax evaders first time in six months since the introduction of the Goods and Service Tax Regime (GST).
GST council meeting which is going to hold on 18 January will make a clear distinction between the products should be treated under handmade items or not.
GST e way bill is now a reality as the GST council has decided to uplift the e way bill into action from starting 1st February 2018. A GST e way bill is a mandatory document for all the logistics transactions with value more than INR 50,000 while transportation by road and air (within India).
Karnataka has proved to be well dependant on its own by giving an example of perfectly scrutinized GST tracking systems. Recently when GST revenues dipped down to a concerned level, the government has sought some information regarding the proper implementation of GST regime in the state of Karnataka.
The Reliance Jio plans in pricing the data and unlimited calls at less where benefited many consumers in providing services at lesser cost, on the other hand, have become a headache for other telecom operators as their bills slow down drastically.
