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The agenda for the 27th meeting of the GST Council on 4th May 2018 has been set. The primary agenda that would occupy a major part of the discussions is the simplification of return filing process.
The Authority for Advance Ruling (AAR) has mandated International Passengers to pay GST on Goods purchased from shops within the Airports premises. Earlier the shops popularly known as Duty-Free shops were exempt from any form of tax.
The GST law defines strict penalty rules and offences guidelines for Indian taxpayers to follow and ensure frictionless intrastate or interstate goods movement, reduce corruption and efficient tax collection system.
The central government recently revealed that the food and drinks which is distributed at the educational institutes are subjected to the 5 percent goods and services tax.
Are you one of those employees who loves his or her office brunch? Well, then there is a bad news for you. No, we don’t mean that your office won’t be able to run canteen services but thanks to GST your sojourn with your colleagues in your office canteen got just a little expensive.
GST was a complete overhaul of the existing taxation system in India. Powered by the GSTN Network, it was India’s first big step towards a true digital economy.
The 21st century India has witnessed the rise of the middle class and consumerism in India. From being a mixed economy state and guilty of practising crony capitalism for over five decades, the new India is finally emerging from the shadows of the past.
As the set target of eight months which stand at Rs. 7.28 trillion, the government slightly collected the revenue Rs. 100 billion low, as compared to the basic target mentioned by the authority for the starting eight months of Goods and Services implementation.
The Union ministry of commerce & industry now has given its consent to resolve the issues tolerated by the Indian pharma industry concerning export of research services. The government is likely not to impose GST for research related services.
