Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Despite taking all the pains to successfully implement GST in the Country, it looks like the increasing difficulties in the path of its implementation and the doubled complexity of the process has now started discouraging the Council as well as the Government.
Gradually, the Revenue generated through Tax collection has come down after the great results witnessed in the initial phase when GST was Implemented in the country and the speedy collection was done on the basis of the strict Tax collection rules.
The Trade and Industry community are expected to face problems in terms of Annual Filings under the goods and services tax (GST) regime in the upcoming months.
The Finance Minister of Andhra Pradesh Yanamala Ramakrishnudu showed his worry about the decision taken by GST (Goods and Services Tax) Council by choosing the agenda items without discussing with the state government.
The Commerce minister Suresh Prabhu on Wednesday made an appeal to the Finance Ministry that the process of refund of GST input tax credit should be made online.
As per the new Rules and latest Directives from the CBIC (Central Board of Indirect Taxes and Customs), the Cars having price range more than Rs 10 lakh could cost more to the Indians due to the extra tax charged as per the new directives and rules from the Government’s end.
Estate Tax or Inheritance Tax is a matter of question in the country since long. Also, the ruling government is looking forward to implementing the same christened as the Inheritance Tax.
The Finance Ministry has granted permission to the businesses to claim input tax credit benefit for the first financial year of Goods and Services Tax roll out, till March 2019.
At a time when the Central Government is mulling over granting notional credit to tackle growing exporter woes, a move to allow input tax credit claims on IT export services delivered in collaboration with foreign entities comes as a welcome move just ahead of the new year
