GST withdraws rule to facilitate small business operating with ecoms

Earlier, vendors had to deal with cascading of taxes levied on goods at each level throughout the whole trade process. “But right now, we’re still trying to understand, because there are a lot of different categories, and it’s a new norm that we don’t want to take any wrong steps on”. After 1st July, the customer may need to shell out more money.

Netflix have confirmed they will be increasing the price of streaming plans for all Australian customers by the end of July.

He said, the Constitutional amendment approved by Parliament previous year gave time only till 15th of September, 2017 to replace the existing indirect tax structure by the GST. The newbie telecom operator not only offered mobile data and voice calls at a significantly reduced price but also improved the state of connectivity in the country.

In the case of companies who sell goods and services to a government department, they may not have any final tax liability at all. There will be the exemption for some goods and services.

The tax burden will increase from the present 15% to 18%.

Manufacturers said that all the units in Thangadh will go on indefinite strike till the rate of tax on sanitary ware products is lowered and brought down to 12%.

Gaurag Bhagat, president of Maskati Cloths Merchants Association said, “We have asked government to give exemption from GST but neither state or central government has listened to our demand”. With the rolling out of GST, it will include a large number of central taxes and state taxes under a single tax. Centre will collect the IGST money.

Along with the transit sector, GST is also likely to affect both imports and exports of goods and services, officials said. The current indirect tax structure is considered a major hurdle in India’s (EPI) economic growth and competitiveness. On the other hand, it will benefit multiplex owners due to provisions like input tax credit.

Who is liable to pay GST?

With over 66 lakh taxpayers migrating to the portal, GST Network has released three videos to help the people register themselves on the portal.

There are 247 mandis in the state with estimated trading of Rs 1,200 per day.

The ambitious tax move is set to make eating out costlier owing to higher sourcing costs of processed meats, condiments and other packaged cooking ingredients.

Many people see whether there will be any reduction in the rate of tax on any supply of goods or services.

It is quite apparent that the strategies of sourcing, warehousing and other decision-making that are now based on minimizing taxes would give way to ones that lay emphasis on quality and convenience.