Powerd By SAG INFOTECH
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All under-construction properties will invite a GST of 5 per cent with no input tax credit. However, GST will not be applicable to ready-to-move-in properties.
The biggest taxation reform of GST India has been considered well enough in both the house of parliament which notes down its significance and its power to fetch the benefits of 8 percent of additional investments of capital stocks prevailing in various sectors of the economy.
The consumer products manufacturing companies have started preparing their business model before the implementation of the GST. These companies have started remodeling the structure of their warehousing systems, IT infrastructure and supply chains ahead of the goods and services tax roll-out.
The central excise and customs department has declared a protest will be held stretching across the nation and a mass casual leave will be taken on ‘budget day’ to show off the discontentment regarding the issue of GST and its implementation.
It has been about 2 months since GST was implemented in the country. The main aim of implementation of new tax regime is one nation, one tax, one market.
The expert belief has suggested that Goods and Service Tax will bring some competitiveness into the MSMEs Arena. The Micro Small Medium Enterprise as of now scattered into organized and unorganized sector but both of them will come into an active position to meet the rumble. The said gesture was made by experts at manufacturing conclave which was held by Confederation of Indian Industries (CII) on Tuesday.
E-commerce or electronic commerce (an online shopping hub) manages the buying and selling of products and services exclusively through electronic channels. E-commerce captures around 33% of the global market with a positive growth in near future.
The two-day meeting of GST council that started on Thursday has come up with a striking news and has given an exact limit on which the threshold amount has been set.
The South Indian Film Chamber of Commerce (SIFCC) is seeking a resolution from the Union finance ministry quoting the adverse effects of GST on the film industry.
