Star rating of hotels is, therefore, irrelevant for determining the applicable rate of GST: Ministry
Singh's remarks came after a meeting with National President of ICAI
In contrast, GST impact would be neutral for property, electricity, telecom and pharmaceutical
500,000 new assessees join GST Network, taking total registrations to 7.5 million
The higher rate will be effective from July 18, Jaitley told reporters in New Delhi on Monday.
The industry feels tax rate of 5-18% would hurt its ability to stay competitive in global market
Demonetisation and GST have knocked out SMEs
GST rate for telecom services is 18%
State is slated to borrow Rs 6,000 cr in July-Sept period; Rs 5,000 cr to be raised in August itself
Roll-out in calibrated manner as more than 60% of revenues mobilised through tax realisations: IACC
Small and medium firms grapple with big issues
GST exemption for small hotels and lower tax for budget hotels are welcome steps
One section is of view that the integrated GST (IGST) will apply for all supplies to and from J&K
Larger firms are pruning vendor lists, weeding out small suppliers who are yet to register under GST
The task at hand seems a gargantuan one: Making all IT systems and processes GST-compliant
Any business that makes inter-state supply is outside the ambit of the scheme
Small service providers in NCR are significantly impacted with services often crossing state borders
You should not be eligible to claim input credit in respect of goods held in closing stock on 30June
The goods and services tax is designed to bring the country into a common single market
However, the prices of notebooks and desktops remain unchanged