Although McDoanld’s India tried to explain why they increased the price, people were not convinced. Netizens felt they were being cheated to pay the same price despite the tax cut on GST and urged government to take strict action.
Addressing a media briefing after the 23rd GST Council meeting, Finance Minister Arun Jaitley said all restaurants in the country will be levied a GST of 5 per cent and no restaurant will have the input tax credit (ITC) benefit.
A survey conducted by the GST Commissionerate among 600 assesses in Pune region has identified the major technical issues which need urgent attention from GSTN.
Corruption and the reluctance to pay taxes forced the Government to dish out a rigid GST framework. Retailers especially the small and medium business men should be mindful of the fact the Government can provide compliance relaxation only if tax cheating ends.
The International Monetary Fund (IMF) on Tuesday also cut its growth forecast for the Indian economy by half a percentage point to 6.7 per cent for 2017-18.
If the September number matches the poll consensus, inflation would be the highest in six months – yet still below the Reserve Bank of India’s mid-term target of 4 percent.
GST cess hike on cars: Companies have unanimously said that the imposition of increased cess would slow down sales in the market.
Entities face issues such as difficulty in coding items in HSN codes, need for filing service tax returns for each state of operation and likely challenges in matching of invoices under the new indirect tax regime.
Revenue department officials said the same principle will apply on sale of old cars or two-wheelers and no GST will be payable even though the supply would be for a consideration.
Talking to reporters, Kalraj Mishra said the MSME (Micro, Small and Medium Enterprises) ministry has sought inputs from the khadi players on levy of GST (Goods and Services Tax) on their products so that it can take up the issues with the GST Council.
Your Questions On GST Answered
Questions about economy, GST are drowned in the din on showier issues.
While there are still protests and debates going on about the new tax regime, here are 10 tweets that sum up the entire GST experience.
What has been the impact of GST on different sectors after one week of its implementation? The landmark indirect tax measure has been propelled into implementation after 14 long years.
The lathi charge has become a flashpoint that could lead to loss of support from this community, ahead of the assembly elections later this year. Controlled mostly by North Indians, the textile traders are staunch BJP supporters.