Most of the grocery, household and personal care products, prices of Goods and Services Tax (GST) will remain as long as 6-8 weeks after the implementation, because the companies will try to increase their operational cost from new taxes.

There are only two days left to implement GST. In this way, across the country from Big Bazaar to Amazon, all retailers are busy living out of their own stock.

E-commerce retailers are trying their best to finish their pending stock. They are luring customers by giving discounts.

Indian Railways can also face some problems with Goods and Services Tax (GST). This can increase the cost of railway signaling, telecom, electrification and new coaches, locomotives and wagon.

Thousands of business people trying to get the registration of Goods and Services Tax (GST) are facing a lot of trouble these days. With the migration of existing registered businessmen, for the new registration, the load on GST of GST opened on June 25 for gst.gov.in is so much that the site is being open very difficult.

The government has postponed an important provision of GST. Under this, it was necessary for the e-commerce players to deduct tax on payment made to their vendors. GST is to be implemented soon ie July 1. Small businesses supplying e-commerce platforms will not be required to register for this immediately.

Under the GST, there is a provision of tax concession in the real estate projects that the land value is less than 33%, but in some cases it can show the cost of builders and the reverse of the customer’s pocket.

With the introduction of GST, where there is talk of being easy for businessmen on one hand, there is a lot of enthusiasm in the job market. Experts say that with the introduction of GST, opportunities for one lakh new jobs will be created in recent times.

The Reserve Bank of India surprised the banks on Friday night. For the cases being taken to the banker’s court, the RBI has made huge increase in provisioning. This may result in a jerk of Rs 50,000 crore in the financial year 2018. Two bankers aware of the RBI order have said this.

After the implementation of the goods and services tax (GST) from July 1, many services can be expensive. Just a few days before the GST was implemented, hotels, credit card companies, banks and insurance companies have started to alert the customers.

The e-way bill’s provision under GST, will promote the extra paperwork and processes so it is contrary to the spirit of the tax reform.

The Ministry of Electronics & Information Technology has launched a dedicated webpage for facilitating taxpayers with regard to addressing issues related to IT services.

Any business entity that fails to pass on benefits of lower taxes under (GST) to consumers faces penalties under the new antiprofiteering rules.

The government today went live with GST Council’s website which contains all the fine details about the new tax regime.

The Government has endangered to cancel the registration of entities that do not pass on gains from GST to consumers. The cancellation of registration is in addition to the Power to levy penalty that was suggested under the Law. The Government has repeatedly threatened to invoke Anti-Profiteering provisions to ensure that gains of GST by … Continue reading “GST: Firms Face Ban for Not Sending Out GST Benefits to Consumers.”