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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.
Retailers which are learned from the upcoming GST are offering 20-40 per cent discounts on white goods or electronic appliances, including television, AC, refrigerator and so on to clear the available stock and minimize the losses, before the implementation of Goods and Services Tax (GST) i.e., 1st July.
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.
A rating agency ICRA has come out with an unexpected positive sign for the states, mainly Maharashtra, Tamil Nadu, Karnataka, West Bengal and Gujarat for their increased profits in the generation in service tax after the implementation of goods and service tax which is now scheduled to be applied from July 1. The assumptions are taken aback that the […]
The Society of Indian Automobile Manufacturers held meetings with three state governments in recent weeks. The state government of Maharashtra, Gujarat and Karnataka assured the SIAM members that they will stick to their earlier commitments.
The coal scenario must have got some issue beneath the surface of overall operations as the Gujarat Mineral Development Corporation is probably going to profit from rising costs in the worldwide market. The organization has been benefited by falling coal costs since FY12.
Nischal Maheshwari, Head Edelweiss Securities in his interview with a prominent news provider discussed some basic facts and issues regarding GST and its impact on various items as stated by him that consumer goods and white goods are no luxury goods anymore.
GST has been coming on its way towards the Indian national taxation scheme and would find its position well settled next financial year and the preparations are heavily under work.
GST is a revolutionary step in the indirect taxing regime, the most awaited Goods and Services Tax bill got the assent of President on the 08th day of September 2016 and became the Act. GST will be a single window for all Indirect taxes as it will subsume majority of the indirect taxes. GST is the thing which will reshape the Indirect tax structure and impact of it will be seen on its stakeholders. It is expected that it will increase the GDP by 2%.
