VAT

GST Council to meet today; exporters may get some relief

GST Council to meet today; exporters may get some relief

The full fledged meeting of the GST Council is also likely to assess the improvements in the GST Network's functioning.

Oct 06, 2017, 00:04 AM IST
GST collection tops Rs 94,000 crore for July from 44 lakh businesses

GST collection tops Rs 94,000 crore for July from 44 lakh businesses

Finance Minister Arun Jaitley had last week stated that 38.38 lakh businesses had filed their returns and paid Rs 92,283 crore in taxes for the month of July - the first month of implementation of independent India's biggest tax reform, the GST.

Sep 07, 2017, 00:01 AM IST
Petroleum products will not be brought under GST: MP Finance Minister

Petroleum products will not be brought under GST: MP Finance Minister

However, the minister, who admitted that the rate of tax (VAT and entry tax) on petroleum products in the state is on the higher side also gave a justification for it.

Aug 12, 2017, 19:16 PM IST
27 lakh biz yet to complete GST registration process: GSTN

27 lakh biz yet to complete GST registration process: GSTN

The deadline for filing the first return GSTR-3B is August 20.

Aug 02, 2017, 23:20 PM IST
Subdued demand may force relook at GST composition scheme

Subdued demand may force relook at GST composition scheme

With just about one lakh of 70 lakh businesses opting for GST Composition Scheme, tax authorities are reviewing why the scheme that allowed such entities to pay a fixed 1-5 percent tax, has not clicked.

Jul 30, 2017, 16:54 PM IST
GST to be positive for auto, retail; negative for SMEs: Fitch

GST to be positive for auto, retail; negative for SMEs: Fitch

New indirect tax regime GST is likely to be beneficial for auto, cement and organised retail sectors, but will have a negative impact on oil and gas, and SME sectors, Fitch Ratings said on Tuesday.

Jul 18, 2017, 13:40 PM IST

GSTIN display on sign boards must for businesses

Traders and businesses will have to display the GST registration number on their business sign boards and the registration certificate in premises.

Jul 10, 2017, 20:38 PM IST
'Apprehension about price rise post-GST misplaced'

'Apprehension about price rise post-GST misplaced'

Ruling out any price rise post Goods and Services Tax (GST), former Revenue Secretary Shaktikanta Das has said such apprehensions are "misplaced" and initial hiccups in its implementation will be sorted out in the next 2-3 months.

Jul 02, 2017, 11:43 AM IST
1.6 lakh new businesses register on GSTN in 4 days

1.6 lakh new businesses register on GSTN in 4 days

As many as 1.6 lakh businesses that were previously not registered for either VAT, service tax or excise duty have enrolled for Goods and Services Tax (GST) in the past four days.

Jun 29, 2017, 14:57 PM IST
Banks not yet prepared for GST roll-out: IBA to Parliamentary panel

Banks not yet prepared for GST roll-out: IBA to Parliamentary panel

With less than a month left for the rollout of the GST, the Indian Banks' Association (IBA) has informed a Parliamentary panel that lenders are not yet geared up for implementation of the new indirect tax regime.

Jun 04, 2017, 16:16 PM IST
'GST to help in better description of GDP'

'GST to help in better description of GDP'

The Goods and Services Tax, to be implemented from next month, will be an exciting development from data point of view and help provide a more complete description of the economic activity, Chief Statistician T C A Anant has said.

Jun 04, 2017, 11:35 AM IST
Mizoram GST Bill passed unanimously

Mizoram GST Bill passed unanimously

Mizoram assembly unanimously passed the Mizoram Goods and Services Tax (GST) Bill, 2017 in a one-day special session of the legislature on Thursday.

May 25, 2017, 15:56 PM IST
Small cars may see small hike in prices under GST

Small cars may see small hike in prices under GST

Small and mid-sized cars may see a small hike in prices after the Goods and Services Tax (GST) is rolled out from July 1 as different goods are fitted into the four-slab rate structure.

Apr 24, 2017, 19:15 PM IST
Centre, states taxmen to decide services rate in GST this week

Centre, states taxmen to decide services rate in GST this week

Tax officials of the central and state governments will this week hold their maiden meeting on devising a formula for tax rate to be levied on services under the Goods and Services Tax (GST) regime from July 1.

Apr 16, 2017, 12:32 PM IST
Legal experts divided over service charge in restaurants

Legal experts divided over service charge in restaurants

Opinion appears to be divided among legal experts on the government's approach on service charge in restaurants, with a section terming it totally "illegal and unfair" trade practice and the other favouring making the levy optional.

Mar 05, 2017, 13:16 PM IST

GST Bill set to be ratified in monsoon session of AP Assembly

 The three-day monsoon session of Andhra Pradesh Legislative Assembly will be held from Thursday with the two Houses set to ratify the Constitution (122nd Amendment) Bill, paving way for the introduction of Goods and Services Tax.

Sep 06, 2016, 19:32 PM IST
Assocham for penalty waiver in initial phase of GST rollout

Assocham for penalty waiver in initial phase of GST rollout

Ahead of the meeting of Empowered Committee of State FMs with industry chambers, Assocham on Friday said it will press for waiver of penalties on unintentional compliance errors which may occur during the initial phase of Goods and Services Tax (GST) implementation.

Aug 26, 2016, 16:35 PM IST

Exemption on export products should continue under GST: FIEO

Exporters body FIEO on Thursday said under the Goods and Services Tax (GST) regime, exemption on final export products should continue to promote overseas shipments.

Aug 04, 2016, 19:20 PM IST

EU seeks to end higher levies on ebooks

Taxes on ebooks should be cut to align their price with paper books, the European Commission proposed on Thursday as part of a broader review of sales tax`s rules in Europe

Apr 07, 2016, 15:47 PM IST