Search results for: GST regime

In a bid to adhere Goods and Services Tax (GST) Regime, an extensive drive has been launched by Delhi Government on 12 October 2018 which will help to keep an eye on tax defaulters those which are evading taxes under GST. Furthermore, it would help to increase revenue for the national capital.

Through goods and services tax (GST), Rs 30,321.67 crore was earned by the state government in the second quarter in this financial year (2018-2019). As compared to the first quarter, the revenue is Rs 5,632.42, or 15.66 percent less.

MakeMyTrip, Yatra, and Cleartrip are in great confusion over the newly implemented TCS provision coming under the Goods and Services tax regime. The e-commerce companies are set to deduct the TCS under the TCS provision except for the agents.

A Senior official stated that the tax department has been working to implement GST informant reward scheme to reduce the cases of tax evasion by unethical traders and businesses under the new indirect tax regime.

The introduction of GST, which standardized India’s erstwhile tax regime plagiarized with cascading tax structure, was seen in business circles as a business-friendly tax regime and was touted as a major push towards foreign investment.

Not so long ago, India celebrated 100% electrification of villages. A great feat indeed considering the fact we are a fairly developing nation with a robust GDP.

The MSME’s demand for the GST rate cuts could not be fulfilled by the Government and no decisions could be taken in this context in the forthcoming GST meeting which is supposed to be held on 28th and 29th of this month.

While speaking at the 12th Global FAD 2018 of ASSOCHAM in Ahmedabad, AIFPA’s president Subodh Jindal warned that the Goods and Services Tax (GST) will ultimately contribute to the death of small businesses in the food-processing sector of India.