Demonetisation and GST have knocked out SMEs
GST rate for telecom services is 18%
State is slated to borrow Rs 6,000 cr in July-Sept period; Rs 5,000 cr to be raised in August itself
Roll-out in calibrated manner as more than 60% of revenues mobilised through tax realisations: IACC
Small and medium firms grapple with big issues
GST exemption for small hotels and lower tax for budget hotels are welcome steps
One section is of view that the integrated GST (IGST) will apply for all supplies to and from J&K
Larger firms are pruning vendor lists, weeding out small suppliers who are yet to register under GST
The task at hand seems a gargantuan one: Making all IT systems and processes GST-compliant
Any business that makes inter-state supply is outside the ambit of the scheme
Small service providers in NCR are significantly impacted with services often crossing state borders
You should not be eligible to claim input credit in respect of goods held in closing stock on 30June
The goods and services tax is designed to bring the country into a common single market
However, the prices of notebooks and desktops remain unchanged
Service centres in every district have been set up to resolve GST related problems, Meghwal said
Although some confusion related to tax rates for the unpolished and polished diamonds continue to rage in Surat, the diamond hub of India, the Forevermark brand of diamonds, owned by De Beers, is not expecting the transitory muddle to impact its business in the country this year. Instead, it is eyeing to take market share from generic diamonds to increase its sales volume.According to Sachin Jain, president of Forevermark in India, some clarity in the GST (Goods and Services Tax) regime is impending on the diamond industry which can impact the market for the coming 2-3 months but therafter, branded players will register a growth trajectory."As a result of GST, there has been an additional 1-1.5 per cent tax increase on diamonds which I think will not dampen sales. There are so many things which aren't too clear but I believe soon we'll have clarity", Jain told Business Standard.The Forevermark price range starts from Rs. 50,000 and goes up to over Rs. 25,00,000.Under the GST regime, ..
He further said Jammu and Kashmir has also accepted the GST in the financial interests of the state
Traders with turnover below Rs 20 lakh in supply of exempted goods need not register under GST
There are over 4.5 lakh new taxpayers who have registered in the GSTN portal
The matter has been posted for further hearing on July 18