The 38th GST Council meeting is being held on December 18, 2019, Wednesday. It will be chaired by our Union Finance Minister, Nirmala Sitharaman, and is being conducted at New Delhi. Ahead of the GST meet today, speculations regarding the increase in GST rates and slabs have been making the rounds. Besides the agenda of… Continue reading GST Council Meeting: What are the expectations?
The Indian Logistics sector obtained a vastly improved rank of 35 among 160 countries in the World Bank sponsored Logistics Performance Index last year and could potentially be a huge contributor to the new GST tax regime. According to an IMAP estimate, India’s logistics market is valued at USD 260 billion and has consistently seen double… Continue reading How GST Affects my Logistics Business?
Under the GST regime, a “dual GST” model has been introduced keeping in mind the federal structure of India. Instead of levying different type of taxes by both the center and the state, GST will be levied on every supply of goods and services which take place within the boundary of the state. GST has two components: Central tax (CGST) which is levied… Continue reading IGST Act in India
The new provisions provided in the GST Law aims at streamlining and standardizing the refund procedures.