Powerd By SAG INFOTECH
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Tax department recently mentioned that after the implementation of GST, there can be a huge game of corruption which is underlying in the shell companies being registered for many years.
The goods and service tax will be a no stone heavy for the boarding and lodging students of under class X. The parents can take a sigh of relief as the government has announced clarification over the GST being actualised across the nation.
Prime Minister Narendra Modi has communicated to the Chief Secretaries of all States that business entities and traders must register in the new Goods and Service Tax (GST) regime before 15th August.
Goods and Services Tax (GST), the biggest tax reform since Independence came into existence on 1st July in India. Industry experts feel that various sectors or industries will not be benefiting with the new tax regime. Some of the renowned Industry experts reviewed over the implementation of the new regime are mentioned below:-
Goods and service tax is applicable across the nation with simplified rules and regulations. But in case, if you are still in doubts and are not sure about the generation of bills in a restaurant, you must be prepared to understand the changes included in the bill provided by the restaurants.
Godrej, a well-reputed business organisation having trade links across the nation has decided to pass the benefits of GST to the consumers through its Locks used for security purposes in residential and commercial properties.
Musical Instruments will be imposed at 28 percent higher tax rate in the Goods and Services Tax (GST) Regime and the owners of musical stores are protesting for the higher tax rates with confusion.
The Goods and Service Tax Regime has been rolled- out on 1st July across the country and it is saving about 24 – 36 hours time of fleet owners at each check-posts as VAT, Sales Tax, and Octroi duty has been removed by most of the states in the new regime.
The government will be sourcing revenue from all around the corners in order to make a multi diverse revenue collection structure. This time new rules are pointing that any revenue or earning exceeding INR 20 lakh annually threshold accounting from renting and commercial leasing purpose will be attracting the GST from now onwards.
