In the upcoming GST council meeting which is to be held on 18th January 2018, it is speculated that there would be rate revision of around 70 to 80 products and services.
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In the upcoming GST council meeting which is to be held on 18th January 2018, it is speculated that there would be rate revision of around 70 to 80 products and services.
GST is not turning out to be the good and simple tax for business firms. The technological issues related to GSTN continue to create headaches for business firms all over the country.
GST council meeting which is going to hold on 18 January will make a clear distinction between the products should be treated under handmade items or not.
The Reliance Jio plans in pricing the data and unlimited calls at less where benefited many consumers in providing services at lesser cost, on the other hand, have become a headache for other telecom operators as their bills slow down drastically.
The government is trying to bring real estate sector under the ambit of Goods and Services Tax. According to sources, in the 18 January meeting of GST council, this issue can be discussed.
In a recent move implemented by the Finance Ministry, the GST Council has allowed business entities that they can rectify their mistakes in GSTR-3B return form and adjust tax liability without fear of tax penalty.
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%.