GST implementation

India's services activity grows for 2nd straight month in October

India's services activity grows for 2nd straight month in October

To cater to greater output requirements, service providers hired more for the second month in succession, but the rate of job creation slowed from September.

Nov 03, 2017, 11:11 AM IST
Prices of commodities to shoot up as trucks go off roads

Prices of commodities to shoot up as trucks go off roads

The truckers' move is likely to disrupt the supplies of commodities and it could lead to a spike in prices of essential goods.

Oct 09, 2017, 09:31 AM IST
GST rate cut on man-made yarns to give immediate relief: AEPC

GST rate cut on man-made yarns to give immediate relief: AEPC

These included lowering rates on man-made yarn to 12 per cent from 18 per cent as well as zari job work to 5 per cent from the 12 per cent earlier.

Oct 08, 2017, 15:21 PM IST
GST 100 days: FMCG cos give thumbs up, say demand picking up

GST 100 days: FMCG cos give thumbs up, say demand picking up

An official of another major FMCG firm said the problem of destocking has been almost over and the channel partners have gone back to normal.

Oct 08, 2017, 12:11 PM IST
 Truckers to go on strike from Monday, demand diesel inclusion in GST

Truckers to go on strike from Monday, demand diesel inclusion in GST

According to them, confusions arose with the existence of Reverse Charge Mechanism (RCM) and Forward Charge (FCM) in GST system.

Oct 07, 2017, 16:30 PM IST
Post-GST, tax collection in Goa drops 22%

Post-GST, tax collection in Goa drops 22%

The state government expects the GST to stabilise from January 2018 onwards.

Oct 07, 2017, 10:29 AM IST

Govt should relax fiscal deficit targets, boost expenditure: Assocham

In a statement, the chamber said India Inc is looking up to the government to take the 'out of ordinary' measures, citing "concerns over slowdown in growth due to the transient disruptions in the economy following GST implementation and the remaining over-hang of demonetisation".

Oct 01, 2017, 14:39 PM IST
GST mop-up worries misplaced, but still is negative on markets: UBS

GST mop-up worries misplaced, but still is negative on markets: UBS

The remaining exporters used the refund mechanism, but the waiting period may initially be longer under GST, hurting near-term exports due to working capital issues.

Sep 28, 2017, 18:12 PM IST
GST disputes to be less, but complicated, says L&S law firm

GST disputes to be less, but complicated, says L&S law firm

Classification of goods is a key element, which is set to decide incidence of GST. There are four slabs for both goods and services -- 5 per cent, 12 per cent, 18 per cent and 28 per cent.

Sep 11, 2017, 18:58 PM IST
Last date for filing of GST returns for July, August extended

Last date for filing of GST returns for July, August extended

GSTR-3, which is the match of GSTR-1 and GSTR-2, will have to be filed by September 30, in place of September 15.

Sep 04, 2017, 20:58 PM IST
'GST Council may lower tax rates if high collections continue'

'GST Council may lower tax rates if high collections continue'

The first month collection under the new Goods and Services Tax (GST) regime has been encouraging and if the rising trend continues till December, it would make a case for reduction of tax rate, he said.

Sep 04, 2017, 19:09 PM IST
Sun Pharma sees single-digit decline in revenues for FY18

Sun Pharma sees single-digit decline in revenues for FY18

On US FDA inspection, Shanghvi said on completion of re- inspection, the USFDA issued nine observations for the Halol facility and the company is currently in the process of implementing the requisite remediation steps.

Sep 03, 2017, 14:00 PM IST
It pays to be honest, I-T dept will go after evaders: Arun Jaitley

It pays to be honest, I-T dept will go after evaders: Arun Jaitley

Under the Goods and Services Tax (GST), which was rolled out from July 1, in order to claim benefit of input credit, businesses have to disclose the volume of transaction in the form of invoice.

Aug 30, 2017, 19:10 PM IST
Govt rules out cutting taxes on petrol, diesel

Govt rules out cutting taxes on petrol, diesel

While petrol prices have increased by Rs 6.08 to reach Rs 69.12 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 3.65 to Rs 57.01.

Aug 30, 2017, 17:32 PM IST
Hike in cess on luxury cars to impact growth, say auto companies

Hike in cess on luxury cars to impact growth, say auto companies

The Cabinet on Wednesday approved promulgation of an ordinance to amend the GST compensation law to pave the way for increasing cess on mid and large cars to 25 per cent, from 15 per cent.

Aug 30, 2017, 16:25 PM IST
Taxpayers' data does not pose risk of violation of privacy: GSTN

Taxpayers' data does not pose risk of violation of privacy: GSTN

GSTN is the information-technology backbone of the Goods and Services Tax (GST).

Aug 24, 2017, 17:27 PM IST
GST pulls down India Inc net by 15.7% to Rs 87,475 crore in Q1

GST pulls down India Inc net by 15.7% to Rs 87,475 crore in Q1

According to an analysis of 2,108 companies by credit rating agency Care Ratings, the corporate net profits stood at about Rs 1.04 lakh crore in April-June period of 2016-17.

Aug 21, 2017, 16:34 PM IST
GST to enable brand licensing industry to grow in India

GST to enable brand licensing industry to grow in India

Brand licencing is basically renting the brand to an industry manufacturer or retailer to use it for promoting their own products in the potential market. 

Aug 20, 2017, 17:19 PM IST
Govt extends GST return filing date to August 25

Govt extends GST return filing date to August 25

In a statement, the finance ministry said: "The GST Implementation Committee, consisting of state and central government officers, has taken a decision to extend the last date for payment of GST for July 2017 to August 25, 2017."

Aug 19, 2017, 19:36 PM IST
GST impact: India Inc profits dip 11% in Q1'FY18 on destocking

GST impact: India Inc profits dip 11% in Q1'FY18 on destocking

According to the global brokerage firm, GST, which was executed on July 1, adversely affected net profits growth for the first quarter of the current fiscal, with companies in the materials, consumer discretionary sharing bulk of the burden.

Aug 18, 2017, 19:21 PM IST