The Indian industry stakeholders on Friday congratulated Prime Minister Narendra Modi-led National Democratic Alliance government on the roll-out of the historic Goods and Services Tax (GST) from midnight of June 30, 2017, and said industry is fully prepared for it. He said that GST was a shining example of cooperative federalism.
He said that the GST may be a destination tax but for India it will begin altogether a new journey.
CBEC in advertisements said single tax GST will bring down prices for most household.
All India ITR summarizes that the upcoming GST Law will have its own sets of pros and cons - many necessities will get cheaper but in the meanwhile, the rest of the necessities that falls under the higher GST tax rate bracket will ultimately cause a discomfort in the household budget.
The new tax replaces a maze of state and provincial taxes and cess, unifying a country of 1.3 billion people into one of the world's biggest common markets. It is a co-incidence that the Gita has 18 chapters and after 18 meetings, GST became a reality, he said. "Prices may go up for a few items but prices of maximum items will either go down or remain unchanged", said Jaitley, adding that every businessman will have to file only one return by 10th of every month after which the computer software will automatically generate the rest of the reports.
"Mumbai: "Vikrikar Bhavan", headquarters of Maharashtra government's erstwhile Sales Tax department, was on Saturday renamed as 'GST Bhavan" as the new tax regime rolled out. But now, a trader with turnover of Rs 20-75 lakh will have to pay 2.5 per cent tax. "In the months to come, based on the experience of actual implementation, the GST Council and the Central and state governments should continuously review the design and make improvements, in the same constructive spirit as has been displayed till now", he said. "It will bring in transparency, help cut tax evasion and benefit honest taxpayers", Adhia said.
Non-AC eateries will charge 12% against GST on your total bill. It is expected that by doing away with the plethora of taxes and barriers on state borders, GST will accelerate economic growth.
A total 80 lakh people - less than 1 per cent of the total population - were registered in indirect taxation under the three important categories - Service Tax, Value Added Tax and Excise Duty, Arun Jaitley said.
"Inspector raj will end after GST, as refunds will be automated", the Secretary said in the discussion on the GST and the digital economy.
An executive for logistics company Rivigo in Mumbai, who declined to be named, told AFP clients had asked them to ensure that the goods reached their warehouses before midnight when the new tax would kick in. With higher input tax credit, prices of most goods may reduce, but services, majority taxed at 18 per cent, could become more expensive.
On Thursday, Murray revealed he wouldn t play his second exhibition on Friday because he wanted to continue resting his hip. But Federer says Murray is experienced enough on grass to be able to quickly adapt to the unique demands on the surface.
Bottas led qualifying and set an even quicker time on his final lap, only for Hamilton to beat him by almost half a second. No one has been anywhere close to as successful on the two road courses over the past two years than Joey Logano .
The deal has reportedly taken 16 months to finalise, and should allow for Takata to function as normal throughout the process. The penalty includes a $25m criminal fine, a $125m compensation fund for victims, and an $850m restitution fund for carmakers.
Prasad's 3-year long term as junior India chief selector will end this year in September and has refused to extend his term. Also, the BCCI CEO didn't let CoA know anything about extending the deadline to apply for the India coach to July 9 too.
The Brian Head area has a vast number of dead trees that succumbed to mountain pine beetle infestation years ago. "It's big. As of 7 p.m., the wild-land fire is continuing to burn in Lamb Canyon, south of Beaumont and north of San Jacinto.
A gunman dressed in black opened fire and shot several people in a Bronx hospital Friday afternoon, police said. CNN reports that the hospital is "among the largest providers of outpatient services in NY ".
Pending its decision, the court stayed the operation of the EO in part, while permitting other parts of the EO to go into effect. Omar Jadwat, director of the ACLU's immigrants' rights project, said there's not much left of Trump's original executive order .
Despite seasonal calls nationwide to protect agains the flu , reports indicate only about 40% of adults in the USA get flu shots . Also unlike the standard flu jab, it does not need to be refrigerated, so pharmacies can stock it on the shelves for purchase.
We always knew we were better than what we showed in the first game", he said. Whereas Srikanth representing India won the Indonesia SSP.
Konta withdraws from Eastbourne
Konta rallied back and got within a point of victory when she took a hard fall on her second match point. Modern day great and one of the greatest woman singles player ever Serena Williams is the second player.
2 injured after plane crashes on California freeway
Tina Foster had just left nearby John Wayne Airport when she heard a loud boom, which she initially thought was a vehicle crash. According to the airport, the airplane landed short of the runway, and the airfield was closed to arrivals.
Edgar Wright Shifts 'Baby Driver' Into High Gear
Kevin Spacey is the crew's bossman and, well, he's just being Kevin Spacey , but it's a good, very amusing Kevin Spacey . While early responses to the animated threequel have been much more mixed, franchise power will keep Baby Driver at bay.
500 firefighters battling blaze in national forest
They consumed some homes, but somehow aircraft dropping retardant and crews on the ground kept it from destroying the entire town. Officials lifted evacuation orders on Thursday for several parts of the area, including Mayer, that was evacuated on Tuesday.
Long Weekend Gas at 7-Yr. Low
Other sites among the top 10 include Cancun, Mexico; Honolulu; Anaheim, California; Anchorage, Alaska; and Las Vegas. If the prediction holds true, it would make 2017's Fourth of July travel weekend the most traveled one ever.
Australian Cricketers To Be Unemployed After Midnight
Reasonable young men and women have been set upon by their employer with tactics not seen before in Australian sport". Players were due to assemble in Brisbane for training on Monday ahead of the South Africa trip.
Nintendo Re-Launching Classic SNES Console
If the thought of an SNES Classic has you salivating in anticipation of retro gaming goodness, we have some good news for you. On the other hand, there is still a possibility that everyone that wants to get an SNES Classic might not have the chance.
Opp to play GST rollout party pooper?
But he has assured that the effort would eventually help reduce rampant tax evasion. Industry and trade associations described their problems to the former PM.
Emilia Clarke likens Hollywood sexism to racism
Game of Thrones has been the target of sexist claims as well due to numerous degrading and abusive scenes involving women. We have one episode that's coming in around 90 minutes and another that's going to be our shortest episode at 50 minutes.
Portman states he won't back health bill
Some 15 million fewer Americans would be covered by Medicaid in 2026, according to the nonpartisan Congressional Budget Office. The words " repeal and replace " were part of the conservative mantra, and one that contributed to their election successes.