Tag: Gst

Mumbai: The implementation of Goods and Services Tax (GST) will enable brand licensing industry to grow in India and also allow retail industry to start respecting intellectual property rights, an official said on Sunday. “Modern retail would unlock itself because of GST. The new tax system will provide level playing field for all the players. […]

New Delhi: The government on Saturday announced a five-day extension for filing GST returns till August 25, after the Goods and Services Tax (GST) return filing portal was hit by a technical glitch and stopped functioning, a day ahead of the last date for filing GST returns. Traders across the country faced problems on Saturday […]

Kolkata: The number of tax slabs in the Goods and Services Tax (GST)regime would be reduced with improvement in revenue, Union Minister of State for Finance and Corporate Affairs Arjun Ram Meghwal said here on Saturday. With the exempted category, the existing tax slabs are of 5, 12, 18 and 28 per cent. Defending the […]

Mumbai: Almost a month into GST, hoteliers complained on Saturday that they have been “hit hard” in the hospitality industry’s money-spinner, Meetings, Incentives, Conferences & Exhibitions (MICE) segment, following close on the heels of the ban on liquor near highways. There have been huge cancellations or postponements of pre-booked events on account of an anomaly […]

New Delhi: Following the roll-out of the GST, state-run Indraprastha Gas Ltd (IGL) hiked the price of CNG in Delhi by Rs 1.11 per kg, and of piped natural gas (PNG) to households by 33 paise per unit, effective Wednesday, to account for increase in tax under the pan-India indirect tax regime. In Noida, Greater […]

New Delhi: The Goods and Services Tax (GST) Council on Monday evening will hold a meeting through video-conferencing to discuss some rate revisions “which need urgent attention”. The meeting, called at a short notice, would be chaired by Finance Minister Arun Jaitley through video-conferencing as state Finance Ministers were not in the national capital. Jaitley […]

New Delhi: The Indo-American Chamber of Commerce (IACC) on Monday flagged points for the smooth transition of the Goods and Services Tax (GST) into a full-fledged tax structure. Up on the suggestion list of the IACC is the need to bring alcohol and petroleum products within the ambit of the Central GST, said the apex […]

New Delhi: Services provided by housing societies across the country will not become expensive under the Goods and Services Tax (GST) system, the government said on Thursday. “There are some press reports that services provided by a Residents Welfare Association (RWA) will become expensive under the GST. These are completely unsubstantiated,” a Finance Ministry statement here […]

New Delhi: Refuting reports that hostel fee charged by educational institutions will attract 18 per cent Goods and Services Tax (GST), the Finance Ministry on Thursday said such services provided to students, faculty and staff are fully exempt under the new indirect tax regime. “There are some reports that GST at the rate of 18 per […]

New Delhi: The government on Saturday said the new MRP on products manufactured, packed or imported before July 1 should take into consideration extra availability of input tax credit under GST. “The declaration of new MRP on unsold stock manufactured, packed, imported prior to July 1 should not be done mechanically but after factoring in […]

New Delhi: The just effected Goods and Services Tax (GST) regime in India is positive for the country’s credit profile as it would increase government revenues through improved tax compliance, US ratings agency Moody’s said on Sunday. “It (GST) will support higher government revenue generation through improved tax compliance and administration. Both will be positive […]

New Delhi/Mumbai: Several automobile companies have reduced their vehicle prices after the rollout of the Goods and Services Tax (GST). Automobile majors like Maruti Suzuki, Hero MotoCorp, Jaguar Land Rover (JLR) and Audi India announced that they have reduced prices on various models. However, owing to withdrawal of tax concessions on mild hybrid vehicles, the […]

New Delhi: The Centre is fully for bringing petroleum products under GST scheduled for implementing from July 1, and the GST Council will require to take a decision on taxing these as per the new indirect tax regime, Finance Minister Arun Jaitley said on Friday. “As was decided by the Empowered Commitee (EC) of states’ […]

Mumbai: Just ahead of the launch of the country’s biggest indirect tax reform — Goods and Services Tax (GST) — the Indian equity markets traded lower on Friday as investors booked profits. The key equity indices trimmed some of their morning losses to trade on a flat-to-negative note during the mid-afternoon session. However, heavy selling […]

New Delhi: To help the people register themselves to the new Goods and Services Tax (GST) portal smoothly, GST Network (GSTN) has released three videos just after the opening of the portal, a company statement said here on Monday. Registration with the GSTN is necessary for doing business in the GST regime as businesses will […]