News WrapGet Handpicked Stories from our editors directly to your mailbox

New indirect tax regime

GST throws a challenge to CAG, says Mehrishi

The new indirect tax regime, however, also offers an opportunity as the data is available on a single platform making it possible to do a 100 percent audit, Mehrishi observed.

Feb 05, 2019, 12:14 PM IST

12%, 18% GST rates to be merged; 28% on luxury, sin goods: Arun Jaitley

Finance Minister Arun Jaitley said a single rate GST is possible only in countries which have similarly placed population and in a highly differentiated society like India it would have been inflationary.

Nov 30, 2017, 20:51 PM IST

GST, surveillance post demonetisation to increase tax-GDP ratio: Finmin

The implementation of GST and increased surveillance post demonetisation will help increase the tax-GDP ratio to 11.9 percent by 2019-20, government said on Thursday.

Aug 10, 2017, 17:15 PM IST

GST rollout smooth; officials maintaining constant watch: Government

The finance ministry also expressed confidence that construction cost of flats and housing complexes will come down on account of seamless flow of input tax credit in GST.

Aug 04, 2017, 19:15 PM IST

Taxmen to go slow on GST enforcement for 6 months

Revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime.

Jul 19, 2017, 13:38 PM IST

GST Rollout in J&K in next few days: Piyush Goyal

J&K Finance Minister Haseeb Drabu had on Saturday stated in New Delhi that the state is likely to clear the legislation on the indirect tax regime by July 6.

Jul 02, 2017, 20:41 PM IST

GST to provide huge impetus to economy: India Inc

The nationwide Goods and Services Tax (GST) will overhaul India's convoluted indirect taxation system and unify the over USD 2 trillion economy with 1.3 billion people into a single market.


Jun 30, 2017, 19:08 PM IST

Defer GST rollout as IT network not ready: Assocham to FM

Industry chamber Assocham on Saturday demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax regime as the IT network is not yet ready.

Jun 17, 2017, 17:51 PM IST

GST Council forms 18 groups to sort out industry worries

The GST Council has set up 18 sectoral groups to interact with the sectors like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime.

Jun 09, 2017, 14:04 PM IST

GST rollout: 'No clarity yet on tax on services a worry'

Despite the rollout date of July 1 for the Goods and Services Tax (GST) drawing closer, there is still no clarity on the tax rate for services under the new indirect tax regime, an auditor firm pointed out on Friday.

Mar 17, 2017, 18:14 PM IST

GST Council to hold first meeting tomorrow

The all powerful GST Council, which will decide on tax rates, exempted goods and threshold, will meet for the first time tomorrow as it races against time to iron out issues between Centre and states for rolling out the new indirect tax regime from April 1, 2017.

Sep 21, 2016, 20:08 PM IST

States to submit views on GST to Rajya Sabha Select Committee tomorrow

States are pressing the Centre for compensating them fully for the loss of revenue in the first five years of GST replacing their taxes.

Jun 15, 2015, 14:29 PM IST

SPV approved to give IT support, services for roll out of GST

The government on Thursday approved setting up of a special purpose vehicle (SPV) to provide IT infrastructure for roll out of the proposed new indirect tax regime Goods and Services Tax (GST).

Apr 12, 2012, 22:00 PM IST