The content of the Constitutional Reform Bill on GST has covered the way for introducing GST in India. The need for GST is felt because under the current indirect tax structure Tax barriers have fragmented the Indian market, Sequential effects of taxes on cost have made local manufacture less attractive, Complex multiple taxes have raised cost of
It’s a Good day for Renewable sector. Last night the GST rates have been declared on all the products, equipment's and machineries required in producing Renewable Energy. As against the Industry Expectation of 12%-18% slab government has come up with 5% slab. This is a very strategic decision in order to promote the renewable sectors.
Goods and Services Tax (GST) is an indirect taxation in India merging most of the existing into a single system of taxation.The GST will subsume almost all state and central level indirect taxes and levies in India. AT Central Level. Central Excise Duty (CENVAT) Additional Excise Duties The Excise Duty levied under the Medicinal and
Indian industry is yet to realise the potential of cloud accounting. It’s amazing how much time business owners waste on spreadsheets and number crunching when it can be done swiftly with cloud accounting. Time is invaluable for any business. In-fact, time is far more valuable than money. The sole reason is that for us here
The Goods and Services Tax (GST) is to be implemented from 1st July. This will not lead to any significant increase in prices of goods although marginal hike can be observed in the cost of some services.The constitutional amendment gives time till September 15 for the introduction of GST but the target date has been