Powerd By SAG INFOTECH
Notifications can be turned of anytime from browser settings
Iron Handicraft industry, which exports products to foreign countries and earns foreign currencies in crores, is in dilemma after Goods and Services implementation as due to various anomalies in IGST and GST, they are suffering from an economic slowdown.
The Telecom Regulatory Authority of India (TRAI) has recommended the FM, Arun Jaitley to lower applicable 18% GST on telecom services to 12%.
From last few months, the government is working upon to hike the cess on luxury vehicles from 15 percent to 25 percent and now finally, a bill has been approved by the Lok Sabha which has made the cess on luxury cars at 25%.
It has been around 6 months since GST was implemented in the country, some of the taxpayers have claimed that their data is merging with the others at the GSTN Portal. In respect of this, the Information Technology department is blaming that the taxpayers are registering with multiple entities at a time.
The government is taking strict actions against those traders who are taking the Goods and Services Tax Reform (GST) lightly.
In a recent notification, the Central Board of Excise and Customs (CBEC) has clarified the doubts on GST (Goods and Services Tax) liability on an under-construction property and ready-to-move-in property.
After the GST implementation, many changes have been taking place to make it a better tax reform in India. As Goods and Services Tax Network (GSTN) is the IT foundation of the newly integrated indirect tax regime, the GST council is putting efforts to make it more compatible according to taxpayers.
SIAM which stands for Society of Indian Automobile Manufacturers is a significant Industry body for automobiles and engine manufacturers in the country.
Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.
