The unorganised sector, as the name says, represents those businesses that are unincorporated (not governed by any official entity).
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The unorganised sector, as the name says, represents those businesses that are unincorporated (not governed by any official entity).
The reports of tax evasion are not new. Taxpayers have even managed to find ways to evade taxes in the new Goods and Services Tax (GST) regime.
The goods and services tax is a groundbreaking indirect tax regime appeared in the history of Indian economy and politics.
Amidst rising criticism on the multi-slab tax levied under GST, Prime Minister Narendra Modi in a recent interview to Swarajya magazine put forth his Government’s logic on the same.
When the GST was introduced on the midnight of July 1, 2017, many pundits termed it as India’s second tryst with destiny. Tryst though is a not an appropriate word to describe a landscape changing move like GST.
Chief financial officers of MNCs are now betting on the positive side of the goods and services tax as almost 77 per cent of the CFOs accept that the GST is worth for implementation.
As per the figures of Employees’ Provident Fund Organisation (EPFO), it came out that 4.1 million job applications were generated between September 2017 to April 2018.
Many small and medium scale companies were panic-struck upon receiving notices from the Indirect Direct Tax Department.
The reverse charge mechanism is soon going to be implemented across the country starting from 1st July, exactly one year after the implementation of the most popular tax regime i.e. GST.