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The GST is in the queue for the implementation and every corner of the financial corridors are now talking about its registrations which will be going to re-open on 1st of June to ensure the remaining taxpayers get registered under this new tax regime.
GST specialist is a new term in the financial sector of India and has been under recruitment demands as the Goods and Service Tax is approaching towards the nation. The recruitment firms are searching financial experts and specialists in the taxation and financial field to cope with the industries accounting needs.
The clause for anti-profiteering has emerged quite a while ago when the finance ministry first announced that any company found blocking the tax benefits to the consumers will be penalized and also various other severe measures will be taken against them.
Telecom industry falls under the category of 18 percent slab rate under Goods and Service Tax (GST) and it disappoints the industry very badly.
The goods and service tax is a globally acceptable tax implication and has played a vital role in strengthening various countries economic position and credibility. Also, marked as a most dynamic and reformative taxation scheme, the Goods and services tax is approaching at a very fast pace in India.
Goods and Service Tax is going to roll out from 1st July 2017 and about seven weeks left for the implementation of GST in India. Indian companies are in hurry to gain knowledge from the tax experts which helps to prepare the accounting and information technology systems in their business units or enterprises.
Voluntary registration is self registration by the dealers in order to get listed within the GST framework. It is applicable for those who are not within the parameters of registration and are not required to register in the GST. Upcoming GST will be requiring registrations to be strict and complied with the rules and regulations and has also declared that the business units having a turnover less than 20 lakh (10 lakh for NE states) can get away with the GST registrations.
An unexpected revenue has been garnered by the global accounting firms in lieu of their consulting for all the business firms who are seeking their advice upon GST.
Goods and service tax is approaching towards its scheduled deadline and is in the headlines of every news and publishing. While there are various queries and doubts regarding the information and rules regulation, there are general FAQ’s which might solve the questions of public in a easy and simple manner.
