It has been found that the Indian traders are getting hands on the comprehensive economic agreement (CEA) with South Korea for the illegal track of gold to devoid import duties applicable for getting bullion in the country.
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It has been found that the Indian traders are getting hands on the comprehensive economic agreement (CEA) with South Korea for the illegal track of gold to devoid import duties applicable for getting bullion in the country.
The new GST tax regime has also not exempted the individuals, software professionals and the freelancers, who dealt in exporting services and softwares. Under GST law, every individual involved in supplying any goods and service outside the country, is mandate to register self for GSTIN.
With a month long struggle with the newly implemented goods and services tax, it has now clear that many of the sectors and individuals are having issues with the classification of the products in GST.
Recently, the Lok Sabha made another step towards implementation of GST across the nation by passing two significant bills to the Jammu & Kashmir. There were two bills passed by the lower house in which it includes Central Goods and Services Tax (Extension to Jammu and Kashmir), Bill, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir), Bill, 2017.
India’s biggest tax regime i.e. Goods and Services Tax (GST) has been implemented in the country from the 1st July 2017. But, with the roll out of this taxation regime, there is also an immediate medium is required to counter the problems faced by the taxpayers and to resolve the discrepancies found, on a regular basis through Audit.
Asim Dasgupta was the previous Finance Minister of West Bengal who managed the Empowered Committee of State Finance Ministers.
Goods and service tax started its effect on a lot of industries and sectors which are extending their services to the large base of the population across the nation.
Experts stated that transition from old tax regime into new Goods and Service Tax (GST) Regime has adversely influenced the smartphone shipments specifically in the month of June.
Madurai Collector K. Veera Raghava Rao along with many top tax officials attended the one-day awareness programme in the city which was organised for the benefit of traders and stakeholders of the GST.