GST: Government of India grappling with the issue of “Revenue Leakage”

Lalit Shastri There is no end to problems linked with GST – initiallty leading to county-wide anger over a multi-tier tax structure of 5, 12, 18 and 28 percent. The Government of India, after the new tax regime was overhauled and the 28 percent tax levied on 178 items was reduced to 18 percent or … Continue reading GST: Government of India grappling with the issue of “Revenue Leakage”

Cabinet approves creation of National Anti-profiteering Authority under GST

Newsroom24x7 Network New Delhi: Close on the heels of the reduction in the GST rates of a large number of items of mass consumption, the Union Cabinet chaired by Prime Minister Narendra Modi today approved the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST. The National … Continue reading Cabinet approves creation of National Anti-profiteering Authority under GST

President praises GST, demonetisation; lays emphasis on resolve for a New India

Newsroom24x7 Staff New Delhi: President of India Ram Nath Kovind today said that India will complete 75 years of Independence in the year 2022 and it is our national resolve to attain certain desired milestones for a New India by then. The President also reminded the nation about the illustrious leaders and the diverse generation that … Continue reading President praises GST, demonetisation; lays emphasis on resolve for a New India

GST will be negative for some sectors in India

Newsroom24x7 Network Mumbai: A special report published today by Fitch Ratings projects that India’s new Goods and Services Tax (GST) is likely to have a negative impact on the oil & gas, traditional retail and SME sectors.   //pagead2.googlesyndication.com/pagead/js/adsbygoogle.js (adsbygoogle = window.adsbygoogle || []).push({}); Fitch Ratings’ latest Special Report, published today says that GST may have … Continue reading GST will be negative for some sectors in India