At midnight today India will roll back the old and roll out the new taxation system - the Goods and Service Tax or GST. While the GST is all set to receive a red carpet welcome at Parliament's Central Hall, it hasn't warmed the hearts of consumers or that of the traders. The overhaul of the new tax system though has left many clueless and confused, it offers business opportunities for software solution providers, tax consultants and IT companies.
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A taxpayer who files late, makes an error or delays payment will face recovery, interest and a proportionate penalty, but nothing beyond that.
The meeting is not expected to consider any broad rate changes, with only a limited set of rationalisation and clarification issues on the agenda, the sources said.
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state ministers, will, in its meeting on Thursday, discuss changes in registration, returns, and refunds mechanism.
The film has been streaming on JioPlus Hotstar since October 2.
The difference in prices can influence consumer behaviour. Consumers may change brands, purchase occasions or quantities based on the price.
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