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GST roll out News

Finance Ministry

03 Jan 2019

FinMin allows biz to claim GST input credit benefit for FY'18 till March 2019

The deadline for claiming input tax credit (ITC) ended on October 25, 2018.

India GDP growth

31 May 2018

India posts 7.7% GDP growth in Q4, highest since demonetisation, GST roll out

The GDP growth for the entire fiscal of 2017-18 was at 6.7%.

GST council meeting

04 May 2018

GST Council meeting ends; approves making GST-network a government entity

The meeting comes at a time when Goods and Services Tax (GST) collections achieved its record high by exceeding Rs 1 lakh crore milestone in April.

GST council meeting

03 May 2018

GST Council meet on Friday; simplification of return form on agenda

The Union Finance Minister Arun Jaitley-chaired council, comprising state finance ministers, will meet through video conferencing.

GST Council meet

09 Nov 2017

Two-day GST Council Meeting gets underway

State Finance Minister Himanta Biswa Sarma had told reporters on Monday, after reviewing the preparations for the meeting that these were the issues that the meeting would take up.

Deadline GST returns

30 Oct 2017

Last date for filing GSTR-2, 3 extended by a month

The extension will facilitate about 30.81 lakh taxpayers for filing GSTR-2 for the month of July, 2017, the finance ministry said in a statement.

09 Oct 2017

Not possible to extend concessions to Apple under GST regime: Source

Cupertino-based iPhone and iPad manufacturer Apple has sought certain concessions for setting up manufacturing unit in India.

22nd GST Council meeting

07 Oct 2017

MoS Finance assures difficulties will be addressed by GST council

Under the composition scheme, the tax rate for traders of goods will be 1 per cent, 2 per cent for manufacturers and 5 per cent for restaurants and suppliers of food or drinks.

28 Sep 2017

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.

22 Sep 2017

No GST on packaged foods if brand rights foregone

"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.

22 Sep 2017

No GST on packaged foods if brand rights foregone

"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.

Corporate India's merger

12 Sep 2017

India Inc's M&A value dips 46% in August: Grant Thornton

The 46 per cent decline in August M&A value was primarily due to the absence of big ticket transactions. Moreover, cross-border activity fell by 65 per cent compared to level recorded in August 2016.

11 Sep 2017

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.

GST Council meet

09 Sep 2017

GST Council forms panel to oversee technical glitches in filing returns

The return filing date deadline of GSTR-1 for July, that was to end on Sunday, has also been extended by a month till October 10.

04 Sep 2017

'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.

01 Sep 2017

Ducati India eyes 18 percent growth this year

The bikes attract a GST of 28 per cent. Canovas said there had not been much impact post-GST roll out and the prices have risen by 3-4 per cent.

India GDP growth

01 Sep 2017

GDP growth to hit 7-7.5 percent in July-Sept: Rajiv Kumar

India's GDP growth rate slid to a 3-year low of 5.7 per cent in the first quarter (April-June), mainly on account of a slump in manufacturing.

30 Aug 2017

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.

Petrol Diesel tax cut

30 Aug 2017

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.

27 Aug 2017

PMJDY initiated financial inclusion, unleased JAM revolution: Arun Jaitley

JAM, a term coined, and a vision conceptualised, by our Chief Economic Advisor, is nothing short of a social revolution, because it has brought together financial inclusion (PMJDY), biometric identification (Aadhar) and mobile telecommunications.

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