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Cases of GST frauds and false invoicing are terribly hitting the society leading to a disturbed GST structure. One such instance recently popped up in the markets of Ludhiana where unscrupulous dealers were found under-invoicing the trade of bicycles leading to tax evasion. Ludhiana is the hub for manufacturing cycles and cycle parts leading a […]
Karnatak SGST department recently collected increased 14.3 per cent of GST revenues for the 5 months i.e. (April- August ) for the FY 2019-20 (FY 20). While the Karnataka state has already gained a good amount of GST collections of 33,618 crores in comparison to the target of 76,046 crores for the financial year. Also, […]
The goods and services tax council may try to cut GST rates applicable currently on the hotel industry for the better and therefore all those states which are protesting against the rate cut on the automobile and biscuit sector may also get benefits. The GST council may also make a decision on central and state […]
Recently the commerce ministry has proposed that the industries offering most of the jobs in the market will be having tax rebates to increase the employment opportunities in the country. Also, the ministry will be giving tax rebates on various products to boost the exports of the country. Some of the products like gems, jewellery […]
Vessels are very common yet essential in every kitchen. No family in the country is unaware of its usage, importance and noise. A similar echo is in Union Government appealing to reduce GST on vessels. Deputy Speaker Pollachi V. Jayaraman who attended the annual meeting of the federation on Sunday told media that the vessel […]
The festive season, a period when Indians usually bring new vehicles to their home, ahead of it, the automakers are seeking to get tax relief in the upcoming 37th meet of GST council on September 20, have encountered a roadblock. Considering the slowdown in the domestic automotive industry, where the government is ready to slash […]
Ministry of Finance has started digging and estimating the revenue loss that may happen due to the GST rate cut which will be broached up in the upcoming 37th GST council meet, scheduled to be held on 20th September. The GST rate on various products like automobile will be lowered down to bring up the […]
Kerala Finance Minister disfavour the idea of dwindling GST rate on automobiles as a measure to lift the economic health of Nation, instead, he is making recommendations for fiscal expansion. According to Kerala FM Thomas Issac, GST rate cut on automobiles will not be profitable and it will only lead to revenue loss for the […]
Finance Minister Nirmala Sitharaman has shown a beacon of hope for the automobile dealer regarding the alteration of the GST rate on automobiles as an attempt to piece down the gloomy and stagnant scenario of automobile industries. The industry had been putting up a howl for bringing down the GST rate from 28% to 18% […]
