Hello my dear friends, There are no per se updates on development side of GST, but we have interesting insights about GST across the Indian territory:
- Its challenging for CBEC’s since the officials have reached out to FM Arun Jaitley considering there will be threat for their jobs since 90% of the cases for the assessee’s having revenue less than Rs. 1.5Cr will be handled.
- This concern would again be discussed in the forth coming meeting of GST Council
- GST Laws and Labour Law reforms to drive growth of organised sector placement services providers
- Currently the un-organised sector comprise of nearly 98% of the contract based employee providers. GST would force them to ensure all compliance’s related to labour laws which in turn would increase their cost of services which in turn would be closer to the current organised sector players.
- Mostly due to non compliance of the labour laws (44 Labour laws ), the unorganised sector is able to trap the market and provide cheap resources.
- Un-organised sector becoming organised itself would result multi-fold growth in most of the sectors due to implementation of GST as per many experts.
That’s it for today! Please share your valuable views as a feedback and keep updating yourself on this one and only portal for daily GST updates in India. Take care.