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State Government have to deal with two major issues- First one businesses have to stabilize their operations after the implementation of the new indirect tax regime and the second one to introduce 7th Pay Commission for state employees.
Indian Armed Forces Canteens have sounded red alarms due to the implementation of the Goods and Services Tax (GST) Regime, nearly 1,700 armed force canteens may soon have to shut their doors if they will not provide GST exemptions similar to the defence- run CSD’s.
Experts stated that transition from old tax regime into new Goods and Service Tax (GST) Regime has adversely influenced the smartphone shipments specifically in the month of June.
The transport industry is benefiting with the implementation of the new indirect tax regime as entry tax at check- posts have been removed in the new regime.
Korean, Automobile Manufacturer Hyundai reported that the company is expecting the growth in Indian Automobile Industry due to the implementation of the new indirect tax regime. Under the previous taxation structure, tax was imposed 8 percent which is nearly double 15 per cent as compared to the new indirect tax regime.
The finance ministry is planning to set up an Anti-Profiteering Body to deal with fraud price hikes and to clear confusion over the new GST prices of goods and services.
Madurai Collector K. Veera Raghava Rao along with many top tax officials attended the one-day awareness programme in the city which was organised for the benefit of traders and stakeholders of the GST.
Sweet Makers are in the midst due to the new indirect tax regime as new GST rate depends on the variant of swSweet Makers Confused A Lot After GST Confusing Rateseet. GST Council has decided different rates for different sweets which create confusion for sweet makers.
While the cash-based unorganised retail industry was still recovering from last year’s demonetization effects, the implementation of the Goods and Services Tax (GST) has further increased its problems as most of the small grocers are preferring to directly purchase from GST compliant major wholesalers.
