Amidst rising criticism on the multi-slab tax levied under GST, Prime Minister Narendra Modi in a recent interview to Swarajya magazine put forth his Government’s logic on the same.
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Amidst rising criticism on the multi-slab tax levied under GST, Prime Minister Narendra Modi in a recent interview to Swarajya magazine put forth his Government’s logic on the same.
The Indian IT (Information technology) Industry has been amongst the ones who were impacted by the last year’s implementation of the goods and services tax.
When the GST was introduced on the midnight of July 1, 2017, many pundits termed it as India’s second tryst with destiny. Tryst though is a not an appropriate word to describe a landscape changing move like GST.
The Bombay High Court has accepted a plea against bringing the transfer of land under JDA within the GST ambit. The plea was filed by Real Estate Developers following a GST notification.
Chief financial officers of MNCs are now betting on the positive side of the goods and services tax as almost 77 per cent of the CFOs accept that the GST is worth for implementation.
The Central Government might reduce the luxury tax slab of 28% on construction items ahead of the 2019 election. The move will be aimed to stimulate the currently dull construction sector.
The technological fabric of GST intertwined with compliances complexities and multiple-stage taxing has spelt doom for the once flourishing Textile and Powerloom Industry of Surat.
Bullion Gold Dealers and Jewellers claim that post the implementation of goods and service tax, the illegal trading of Gold has increased manifold.
Taxpayers these days are running head and toes for their documents which have to submit within 7 days after getting the due noticed from the income tax department.