Powerd By SAG INFOTECH
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Taking cues from the debacle faced by the Central Government and the GST Council during the first launch of GST E Way Bill for transporters, the government has decided on a phased rollout of the e-way bill services for transporters.
In a good gesture to the print and electronic media, the Jammu and Kashmir government announced that it would be paying the goods and services tax applicable to the media and advertisement of the state government itself.
GST E-way bill has been implemented from April 1st, 2018 and more than 11.18 lakh taxpayers registered through the online e-way bill portal till now.
The 21st century India has witnessed the rise of the middle class and consumerism in India. From being a mixed economy state and guilty of practising crony capitalism for over five decades, the new India is finally emerging from the shadows of the past.
The Union ministry of commerce & industry now has given its consent to resolve the issues tolerated by the Indian pharma industry concerning export of research services. The government is likely not to impose GST for research related services.
The new Financial year has begun amidst concerns for consecutively decreasing GST Revenues. Though the Government and the GST Council must have had a sigh of relief on Sunday after e-way bill platform was successfully launched post the disastrous first attempt on February 1st this year.
The assumed reduction in GST rates on products like refrigerators, cement and air conditioners may get a hold because revenue collection in February is lower than the other previous months’ tax collections, said PwC’s Partner and Leader Prateek Jain.
The Finance Ministry has made the complaint procedure against profiteering schemes used by traders/business owners post GST rollout. Consumers will now have to fill a simplified version of the complaint form with less number of columns.
The Goods and Service Tax (GST) implemented on July 1, 2017, by the government and the states governments would get the compensation for five months as announced, it was reiterated by the Panneerselvam while introducing the budget 2018-2019 in the assembly meeting.
