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Goods and services tax made a lot of changes to the indirect tax structure prevalent earlier than 1st July 2017 and made huge changes to make it accurate and uncomplicated as compared to past tax projects.
The cab based startup has come up in open and filed an appeal to question the rule of GST law in which it is mentioned that all the cab operators have to pay GST on the fares collected by the drivers or cab owners.
Gujarat high court has given some relief to the exporters who have been charged for illegally availing tax exemptions as the court has told the anti-smuggling intelligence agency to behold their action against them.
Another blow from the goods and services tax might come soon and this time on the digital banking transfers. A lot of private banks have decided to discontinue the domestic money deposit services from their (BC) banking correspondents.
The Central Government has always been upbeat about passing benefits from GST tax reduction to the end consumers.
E-tailers (a retailer selling goods via electronic transactions on the Internet), are unsure about the impact of the New GST tax collection system especially the TCS, on their business and thus have urged the Government to give some time for getting slowly into the process without hampering their profitability.
While speaking at the 12th Global FAD 2018 of ASSOCHAM in Ahmedabad, AIFPA’s president Subodh Jindal warned that the Goods and Services Tax (GST) will ultimately contribute to the death of small businesses in the food-processing sector of India.
GST has been introduced in India to equalize the tax deductions throughout the country. In this context, the builders are advised to buy construction materials only from the registered suppliers so that things could be kept transparent viz.
The government has directed the E-commerce companies to start collecting up to 1 percent TCS in the course of making any payment to suppliers under GST.
