According to sources Narendra Modi’s Goods and Services Tax (GST) bandwagon is going through rough Indian roads. Big industries are worried about the complexity of the rate structure and classification of products under the tax regime originally conceptualized as ‘One nation, one tax’. Small traders are so dumbstruck looking at the convoluted structure and compliance process that many of them don’t know where they stand in the whole affair. By now, it is clear that both the GST council and the government failed to foresee the likely hurdles before setting the ball rolling on the grand tax reform.
Meanwhile after a few days, Union Finance Minister Arun Jaitley promised some corrective measures to ease the pain of small entrepreneurs. A group of Ministers (GoM) set up to think of more ways to simplify the GST structure has now come up with some interesting suggestions. These proposals will be taken up in the next GST council meeting.
Moreover the government is currently changing the rules on the go that
will only bring more uncertainty and hassles to the industry and confusion to
investors. Applying the Subramanian formula of three rates to the GST structure
could make it lot simpler and consistent with the original objective.
Hyderabad Park Hotel Owner has been accused for Cheating Mir Nasir Ali Khan, owner of Park hotel and Banyan tree resorts in Hyderabad, has been accused of death threats to his uncle Junaid Adil. Junaid, who lives in US, addressed the media where he revealed that his nephews, Nasir and his brother Husain Ali Khan
- You can turn Agriculture into a profitable business says Microsoft Founder Bill Gates
- Mumbai Man built a six seater plane, Names it after Modi
- Do Revanth want anything from Telangana Government?
- Cisco along with Interpol will fight Cyber Crime
- Tentative Tariff of Hyderabad Metro Rail doing rounds in Social Media
- Hyderabad Air Hostess Harassed - Sexual Abuser falls on feet and apologizes - Watch Video
- Survey says PM Modi's Government is the 3rd most trusted in the World
- Congress says Raids shouldn't be for Political reason
- BJP Minister landed in a controversy
- US Scientists says Big Earthquake is on its way in 2018
- Ivanka Trump's Hyderabad Schedule kept secret due to security reasons
- Andhra inspector caught with illegal assets more than 100 crores! SHOCKING Photos inside
- Do you want to know how Miss World Manushi Chhillar maintained her Beautiful body?
- It's no longer Sonia! Rahul Gandhi is the new President of Congress Party #RahulCrowning
- Study reveals Treated poultry excrement could replace approximately 10% of coal used in electricity generation