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As the GST is coming to redefine the economy of India, its service providers also geared up to face the challenges being thrown by the operation and implementation of it.
Ahead of Goods and services tax, the Rajasthan trade body has come forward and demanded from the central and state government to fully resolve the concerned issues of GST under the time period of 15 days or less. Failing of which will lead to an uncertain scenario, the trade body warned this to the ministry and higher officials.
Now the GST mandates all the goods lost, stolen and gifted to be maintained under the new taxation regime coming from July 1 most probably.
Goods and service tax is approaching with queries solved in its pack, while it may create some upheaval upon implementation, but it is quite essential to create one. In the last year of discussion among the automobile association with the ministry
Gold jewellers are into a bit of confusion on GST as there is anonymity over the gold jewellery in the market. The service charge is being portrayed as making a charge by most of the jewellery community and applies it to another bill, so as per the GST draft rules and guidelines
Goods and service tax will create an all round difference in the economy as well as in the functionality of business units and in this matter, a various lower business might try to bring down their actual income in the bracket of 20 to 50 lakh in order to save 1-2 percent over the generated tax obligation.
The upcoming goods and service tax will prove beneficial for many states and also for the Uttar Pradesh as the latest statement being recorded from the Governor Ram Naik. The official mentioned this on the convention of the Commerce Tax Service Association and also added that this will become a lasting success for both the state government as well as central government.
Goods and services tax is just doing well in its approach towards the national financial and economic structure. Various experts have sorted out different ways in which the procedural and the working of business will get affected and will adopt a new course of working under the GST regime.
The apex body along with the responsible team of ministers and tax officials will be organizing a meeting to discuss and finalize the service tax under the GST.
