Tag: Gst

GST-15-3-17
GST Council may go for more rate revisions

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 […]

  • Monday, 05 July 2021
IACC flags points to streamline GST roll-out

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 […]

  • Monday, 05 July 2021
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Housing societies' services not to get costlier under GST: Government

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 […]

  • Monday, 05 July 2021
money-fees-college-759
Hostel fee in educational institutions exempt under GST: Government

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 […]

  • Monday, 05 July 2021
New MRP should consider input tax credit under GST: Government

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 […]

  • Monday, 05 July 2021
Moody's
GST will boost revenue, positive for Indian credit profile: Moody's

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 […]

  • Monday, 05 July 2021
car
GST effect: Automobile companies reduce prices

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 […]

  • Monday, 05 July 2021
Arun-Jaitley
'GST Council has to decide on petroleum, Centre for its inclusion'

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’ […]

  • Monday, 05 July 2021
Indian equity
Indian equities trade flat ahead of GST launch

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 […]

  • Monday, 05 July 2021
GSTN
GSTN releases three videos to guide people to register themselves

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 […]

  • Monday, 05 July 2021
gst
GST to be launched on June 30 midnight in Parliament

New Delhi:The Goods and Services Tax (GST) regime will be launched on the midnight of June 30 at the Central Hall of Parliament, Finance Minister Arun Jaitley announced on Tuesday. President Pranab Mukherjee, Vice President Hamid Ansari, Prime Minister Narendra Modi and former Prime Minister Manmohan Singh will be among those who will attend the […]

  • Monday, 05 July 2021
gst bill
Industry prepared for GST rollout from July 1: CII

New Delhi: As the GST Council meets here to finalise issues before the Goods and Services Tax is implemented from July 1, industry lobby CII said on Sunday that Indian industry is ready for the rollout of the pan-India indirect tax regime. “GST is the most significant indirect tax reform introduced in the country since […]

  • Monday, 05 July 2021
Hasmukh Adhia
Banks have to register in each state under GST: Hasmukh Adhia

New Delhi: Banks will need to make registrations in each state separately under the GST law so that they are ready for the new indirect tax regime roll-out from July 1, Revenue Secretary Hasmukh Adhia said on Monday. “Banks will have to register separately in each state under GST. They do not have any option. […]

  • Monday, 05 July 2021
GST reduced for 66 items, movie tickets over Rs 100 at 28%

New Delhi: The Goods and Services Tax (GST) Council at its 16th meeting here on Sunday revised the rates of 66 items out of the 133 for which representations had been received seeking change from the fitments originally made in the four-slab indirect tax structure, Union Finance Minister Arun Jaitley said. Following the 15th meeting of […]

  • Monday, 05 July 2021
GST Suvidha Providers say IT systems not ready for July 1 roll-out

New Delhi: With three weeks to go before the country moves to big bang tax reform, Goods and Services Tax (GST) Suvidha Providers — key links between taxpayers and the government — say the IT systems for a July 1 roll-out are not ready. “All the rules are yet to be notified. Only after the […]

  • Monday, 05 July 2021
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