When I asked people for suggestions for ‘Mann ki Baat’, I can say that almost all the suggestions that were received echoed one theme. Everyone wanted me to speak in more detail about the 500 & 1000 rupee notes.
GST provisional registrations has now started. The work of GST has come to a standstill in parliament due to discussion about old notes. Then why did GST provisional registrations get started now. For whom is it and how is it to be done?
The automotive industry in India has been on a growth trajectory with impressive spikes in sales, production, and exports over the last two years. With an average production of around 24 million vehicles annually and employer of over 29 million people (direct and indirect employment), the automotive sector in India is one of the largest in the world.
The Indian telecommunications sector shaped by consumer demand, innovation and competitive forces offers tremendous growth opportunities. With the second largest subscriber base in the world with 1.06 billon connections (including fixed phone lines), the telecom industry is booming.
The Indian textile industry exhibits rich cultural heritage of India with wide variety of fabrics, techniques and hues that reflect the diverse set of people and traditions across the country. One of the oldest industries in India, it covers an extensive spectrum of segments, from hand woven/hand-spun, unorganized segment on one end to capital
It has now been decided to introduce a new scheme for depositing SBNs with designated currency chest at the district level, under guarantee agreement similar to the current facility available at RBI offices.
There will be a new cess with the name “GST Compensation Cess” for first 5 years on some specified items. Now since government has come out with relevant draft law on this 26th day of November, 2016, let’s understand this new levy of cess.
REGISTRATION: Application for provisional registration (valid for 6 months) within the scheduled dates, Application for registration and furnishing the information for permanent registration, Grant of Permanent Registration,
For chartered accountants, the oceanic restructuring of laws and regulations – GST, IFRS, IND-AS, Company’s Act, etc – are new challenges.
Draft Model GST Law, Draft IGST Law and Draft Compensation Law placed in the public domain for information of trade, industry and other stake holders.
