Arvind Subramanian, the Chief economic adviser of the government of India, recently gave a hint that the country might be headed to implementing a single rate for GST, which was launched in July 2017.
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Arvind Subramanian, the Chief economic adviser of the government of India, recently gave a hint that the country might be headed to implementing a single rate for GST, which was launched in July 2017.
The GST council chairperson and the union finance minister of India Arun Jaitley indicated that the goods and services tax has got on the track very well
Under the new indirect tax regime, it is all set to cross 1 crore taxpayers in the coming two days which indicates a 25 percent increase in the number of taxpayers who were registered for the payment of multiple taxes such as VAT, excise duty and service tax.
Parliament is proposed to include aviation turbine fuel (ATF) or jet fuel under the Goods and Services Tax (GST) ambit by the civil aviation ministry on 28 December.
The decline in the revenue collection as State GST (SGST) in Karnataka has spoilt chief minister Siddaramaiah’s plan to present a massive Rs 2.10 lakh crore budget for FY 2018-19, which was scheduled to be announced on 9th February.
After the announcement of errors in input tax credit claims, the government is keeping an eye on the activities of some companies such as Insurance, Technology, Telecom, and Banks.
We accept that the GST implementation slowly but reduced the drawbacks of the previously formulated tax collecting procedure. The Government is penetrating full-efforts to overcome loopholes in GST mechanism.
The government had collected INR 95,000 crore under GST regime for July month and as the Union Minister mentioned in the statement the compliance is 64% of the total 8 million taxpayers.
A Maximum Retail Price is a maximum price which can be charged from the consumers in India as specified by the authority figures.