Professional Tax is a state-level tax that applies to salaried employees and professionals, including chartered accountants, lawyers and doctors. Registration is mandatory within 30 days of employing staff in a business or, in the case of professionals, 30 days from the start of the practice.
GST seeks to transform India with its One Nation, One Market, One Tax principle, and all signs indicate that India’s real estate sector won’t be left out of the transformation. We have crunched the numbers for you, check this out.
GST will impact various sectors and industries of the country, some in a positive way and some others in a negative way. One sector which has the possibility of a having a very positive impact is the automobile sector primarily because of the efficiency and the removal of cascading associated with GST.