Below are some key GST updates from yesterday and today:
- Traders association – Confederation of All India Traders (CAIT) made a request to FM Mr. Arun Jaitley for delaying the roll out of Goods and Services Tax (GST) regime to September 1 as small businesses are not yet prepared for it.
- As per the Association, Nearly 70 per cent of small businesses in the country are yet to adopt digital technology in their business format and as such it is a big challenge for them to computerised themselves in the shortest period.
- Urban Development Minister M Venkaiah Naidu has urged today to the GST council to exempt affordable housing from service tax under the GST regime so that prices for low-cost homes do not rise.
- Export Promotion Council for EOU’s and SEZ’s (EPCES) urged government to exempt SEZ’s and EOU’s from the GST levies.
- Since the primary objective of these Units is exports, the domestic purchases made by such units must also be deemed to be an export and accordingly no GST to be levied.
Hope you enjoyed GST learning and updating yourself with GST news all over the country. Do send your valuable comments/feedback. Take Care.