Friday proved to be a big day for India Inc. after a slew of tax concessions including reduction in corporate tax from 30 per cent to 22 per cent, the GST Council has lowered tax on a number of goods and services to spur demand.
Markets jumped after a long slump, India Inc was delighted and experts gave a big thumbsup as the government on Friday launched a determined, and the biggest to date, bid to reverse the slowdown.
An exemption-free tax rate of 22% — 25.17% including cesses and surcharge — sounds attractive, but an analysis of the tax liability of firms listed in Sensex suggests more than half have reason to stick to the existing tax regime.
The 2019 autumn edition of Intertextile Shanghai Apparel Fabrics will be held from September 25–27 at the National Exhibition and Convention Center (Shanghai).
The GST Council, in its 37th meeting held at Goa provided relief to MSMEs by allowing them waiver to file GSTR 9 and GSTR-9A.
PUNE: The Confederation of All India Traders (CAIT) has expressed satisfaction on decisions of GST Council meeting held today and complimented finance minister Nirmala Sitharaman for allowing relaxation to traders having annual turnover upto Rs 2 crore from filing of annusl GST returns for last two years.