The 23rd GST Council meeting in a row to make GST more effective proved to be big contentment for most traders with the council pronouncing a set of measures that reduced the compliance burden and tax rates on some eatery goods.
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The 23rd GST Council meeting in a row to make GST more effective proved to be big contentment for most traders with the council pronouncing a set of measures that reduced the compliance burden and tax rates on some eatery goods.
Goods and service tax has taken a lot of attention recently due to economic factor. One for advancement and another for its drawback related to strict compliance introduced.
Vanaja N Sarna, Chairperson of Central Board of Excise and Customs (CBEC), said that the tax collected under the new tax regime is deviating from the expected figure and there are no targets in line to tweak the annual revenue goals.
Bimal Jalan, former RBI governor, has advised that the GST council needs to transfer the authority from the centre to local governments because preferences of states are diverse according to the poor and rich status.
The GST has created the confusion between publishers and authors and the question is that who is liable to pay 12% of Goods and Services Tax (GST) on royalties.
Goods and services tax which was implemented recently and to be exact on 1st July 2017 with a lot of promises and work on progress tagline, is known to be subsuming all the indirect taxes into one.
GST implementation has put the BJP government on the edge of a knife. To fight against the allegations being showered by the opposition party, BJP government is trying to resolve the issues related to GST.
The Aviation MRO (maintenance, repair, and overhaul) wants the government to make a simple structure by either cutting down 18% GST on the aviation MRO sector or levy customs Duty on aviation who are serviced out of the country and exempts from contribution to GST.
The Commercial Taxes(CT) department announced that In upcoming 15 days, it will be mandatory for traders and businesses to demonstrate the GSTIN on their respective signboard and showcase registration certificate on their premises.