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Search results for: GST impact

Indian Economy on Recovery Path

Power Consumption & High GST Collection Display Recovery, Ex-RBI Chief

The past governor of RBI C Rangarajan clarifies that due to covid-19 the slump in the rise of the economy occurs as a disaster which lies for a shorter duration. The opinion was raised during ‘SICCI-360’ raised by the Southern India Chamber of Commerce and Industry, said the chairman of Economic Advisory Council Rangarajan. “(Normally) […]

0 Percent Growth Rate Till March 2021

Expected Growth Rate 0% Till March 2021 & No GST Rate Cut Possible

Due to corona, another package for the economy which gets canceled is now again launched by the government said by finance secretary Ajay Bhushan. Although he has not stated the time when it will be provided. Indeed he also says that the Indian Economy might reach a 0% growth The biggest tax reform i.e. Goods […]

GST Revenue Collection in October 2020

More Than INR 1 Trillion GST Revenue After 8 Months in Oct 2020

INR 1 trillion GST has been collected for the very first time in the eight months in October post unlocking from September. Any month GST collection resembles the business received in the previous month. There is only a 10% rise at Rs 95,379 cr from the previous year which stood at Rs 1.05 trillion which […]

Illegal GST Assessment Notice to MSMEs

MSMEs Contacting Punjab CM Concerning Illegal GST Assessment Notices

Micro, Small and Medium Enterprises (MSMEs) should resemble the Punjab Chief Minister Captain Amarinder Singh about the illegal GST assessment notices granted by the State Goods and Services Tax (SGST) Get the brief introduction of SGST, IGST and CGST. We have mentioned their full forms, meanings and adjustments of input tax credit under GST in […]

No ITC on Medicines Used for Patients

Restrict GST ITC on Medicines Used for Patients in the Supply of Health Services

The Karnataka Authority of Advance Ruling (AAR) directed that the Input Tax Credit should not be there on medicines adopted in importing health care services Check out the brief details of GST impact on the healthcare industry in India. The researchers have commented on the impact of GST regime rendered to sufferers. The petitioner is […]

12 Percent GST for Residential Housing Project Service

12% GST Rate on Contract Service for the Development of Residential Houses

The West Bengal Authority of Advance Ruling (AAR) ruled that 12% of GST is liable on the contractors to provide contract service in developing residential housing projects. The petitioner M/s Primac Projects Pvt Ltd is the owner of residential real estate Know what the experts have to say on impacts of Goods and Service Tax […]

Low GST Rate for COVID-19 Testing Kit

Private Hospitals Demand to Reduce GST Rate of COVID-19 Testing Kit

The states have welcomed the decision of the government to reduce the cost of the covid-19 testing kit whose price was Rs 2250 to Rs 1500 along with flexibility in the ambulance service rates. The private hospitals have requested the state government for compensation in GST on the covid-19 kits. “As the state government caps […]

20 States to Borrow INR 68,825 Crore

GST: Center Allows 20 States to Borrow Money & Other May Discuss Anytime

The centre is willing to alliance with the states who have not chosen offered to fill the gap in GST the finance ministry states that the centre allows 20 states for borrowing ₹68,825 crores from the market to fill the financial shortage but some states show that they will go to the supreme court a […]

Jammu and Kashmir Gets Highest GST Collection

J&K Makes Record of Highest GST Revenue Collection in Sep 2020

The business has started after the lockdown phase due to covid-19 and also after the closing on 5 August. It is concluded that the centre has collected 2nd highest GST from Jammu and Kashmir in the last month all over the country. It means that from the last few weeks in Jammu and Kashmir there […]

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