Rates of over 100 goods under GST 28 per cent tax rate reduced, more changes expected
Nov 10, 2017, at 10:14 pm
Guwahati, Nov 10 (IBNS): The Goods and Services Tax (GST) Council, which has been holding its two-day meeting in Guwahati, reduced the tax rate of nearly 175 items from 28 per cent; however, 50 luxury and 'sin' goods, including tobacco, will remain in the highest slab, according to media reports on Friday.
ASSOCHAM seeks relief for exporters on GST issues
Nov 07, 2017, at 09:48 pm
New Delhi, Nov 7 (IBNS): ASSOCHAM has suggested examining the impact of the Goods and Services Tax (GST) on exports and impressing upon the GST Council and the government to help exporters receive their tax refunds without any further delay, besides easing rules for the GST administration on exports to maintain the growth momentum.
Government extends last date of filing of GSTR-2 for July to Nov 30
Oct 31, 2017, at 12:16 am
New Delhi, Oct 30 (IBNS): The last date for filing of GSTR-2 for the month of July, 2017 is Oct 31, the government said on Monday.
Fundamentals of the Indian economy is strong: Jaitley
Oct 24, 2017, at 10:39 pm
Mumbai, Oct 24 (IBNS): Union Finance Minister Arun Jaitley on Tuesday said the fundamentals of the Indian economy is strong.
GST, demonetisation may impact Indian wedding market growth: ASSOCHAM
Oct 24, 2017, at 09:01 pm
New Delhi, Oct 24 (IBNS): The upcoming wedding season starting in November may be impacted by 10-15 per cent particularly wedding services like marriage garden/marriage hall booking, tent booking, confectionery services, photography and more, reveals by industry chamber ASSOCHAM.
Govt waives penalty for late filing of GST returns in Aug and Sep
Oct 24, 2017, at 07:12 pm
New Delhi, Oct 24 (IBNS): The Central government has waived off penalty on delayed filing of initial Goods and Services Tax (GST) returns for months of August and September.
Reformative measures like introduction of GST will improve economy: Vice President Naidu
Oct 17, 2017, at 11:44 pm
New Delhi, Oct 17 (IBNS): Vice President of India M. Venkaiah Naidu has said that reformative measures like the introduction of GST will improve the economy.
GST Council recommends rate structure for Petroleum and Oil Sector
Oct 11, 2017, at 08:12 pm
New Delhi, Oct 11 (IBNS): The Union Ministry of Finance announced on Wednesday that to reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council has made several recommendations.
GST Council approves relief package for exporters at its 22nd Meeting
Oct 07, 2017, at 08:25 pm
New Delhi, Oct 7 (IBNS): A relief package for exporters was approved by the GST Council at its meeting in New Delhi on Friday.
GST Council spells out Composition Scheme and relief for SMEs
Oct 07, 2017, at 08:10 pm
New Delhi, Oct 7 (IBNS): The Goods and Services (GST) Council has considered the implementation experience of the the past three months and gave relief to small traders in the GST, Union Finance Minister Arun Jaitley said following the 22nd meeting of the Council in New Delhi on Friday.
GST Council recommends changes to ease burden of small and medium businesses
Oct 07, 2017, at 05:56 pm
New Delhi, Oct 7 (IBNS): The Goods and Services Tax (GST) Council, in its 22nd Meeting in New Delhi, under the chairmanship of the Union Minister of Finance and Corporate Affairs, Arun Jaitley, has recommended changes to ease the burden of compliance on small and medium businesses, according to media reports on Saturday.
Economy needs to grow at 7 per cent in the next three quarters: Dr C. Rangarajan
Sep 22, 2017, at 09:15 pm
New Delhi, Sept 22 (IBNS): To get 6.5 per cent for the year as a whole, the economy needs to grow at 7 per cent in the next three quarters, probably rate of growth will be around 6.5 per cent, said Dr C. Rangarajan, Former Chairman-Economic Advisory Council to the Prime Minister of India & Former Governor, RBI at an ASSOCHAM event held in New Delhi today.
India is changing fast into one of the most open economies in the world: Modi
Sep 04, 2017, at 10:03 pm
Xiamen, Sep 4 (IBNS): Prime Minister Narendra Modi on Monday said India is changing fast into one of the most open economies in the world.
July GST collections stands at Rs 92,000 crore: Arun Jaitley
Aug 30, 2017, at 01:49 am
New Delhi, Aug 29 (IBNS): Union Finance Minister Arun Jaitley on Tuesday announced that total revenue of GST paid under different heads upto Aug 29 was Rs.92,283 crore.
Jaitley asks states to reduce VAT on Petroleum Products used for manufacturing
Aug 18, 2017, at 07:13 pm
New Delhi, Aug 18 (IBNS) : Union Fiance Minister Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of Value Added Tax (VAT) on Petroleum Products used as inputs in making of goods after the introduction of Goods and Services Tax (GST).
Aug 16, 2017, at 11:36 pm
New Delhi, Aug 16 (IBNS): The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi today has given its approval to the Scheme of providing Budgetary Support under Goods and Service Tax Regime for the eligible industrial units located in State of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim.
56000 new enrolments in GST from West Bengal, the highest among the states, says MoS Finance
Aug 12, 2017, at 10:16 pm
Kolkata, Aug 12 (IBNS): 56000 dealers have registered for GST in West Bengal and so far this is the highest enrolment from a state, said Arjun Ram Meghwal, MoS for Finance & Corporate Affairs at a seminar in Kolkata on Saturday.
Transport Ministry publishes booklet to explain benefits of GST
Jul 26, 2017, at 06:31 pm
New Delhi, Jul 26 (IBNS): The Ministry of Road Transport & Highways said on Wednesday that the transport sector stands to benefit from the recently rolled out Goods and Services Tax (GST) in several ways and the Ministry has also prepared a booklet explaining the benefits.
Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017
Jul 20, 2017, at 02:53 am
New Delhi, July 19 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) Bill, 2017.
GST registration ends on July 30: Govt
Jul 15, 2017, at 10:03 pm
New Delhi, July 15 (IBNS) The government has set July 30 the date as the deadline for registration of GST.
Dismantling check posts, post- GST save 24-36 hrs trucking time on trunk routes: ASSOCHAM
Jul 11, 2017, at 09:58 pm
New Delhi, July 11 (IBNS): Notwithstanding some teething troubles, the GST is saving trucking time on trunk routes, connecting top cities, between 24-36 hours besides saving the fleet owners Rs 5,000 -7,500 per trip by way of corruption at the octroi and sales tax/VAT check posts which have since been dismantled by most of the states, an ASSOCHAM quick check has noted.
CBEC issues clarification regarding GST for restaurants
Jul 11, 2017, at 07:27 pm
New Delhi, Jul 11 (IBNS): The Central Board of Excise & Customs under the Union Finance Ministry and responsible for administering indirect taxes in India, issued a clarification on Tuesday regarding Goods and Services Tax (GST) for restaurants.
Jammu and Kashmir joins GST today
Jul 09, 2017, at 04:12 am
New Delhi, July 8 (IBNS): President of India Pranab Mukherjee promulgated on Saturday two ordinances, namely, the Central Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 extending the domain of Central GST Act and the Integrated GST Act to the State of Jammu and Kashmir, with effect from 8th July, 2017.
GST to boost MSMEs’ competitiveness, says study
Jul 08, 2017, at 10:41 pm
New Delhi, July 8 (IBNS):The Goods and Services Tax (GST) would boost the competitiveness of micro, small and medium enterprises (MSMEs), noted a recent joint study by ASSOCHAM- Ashvin Parekh Advisory Services (APAS).
Isuzu Motors reduces prices of its SUV models in range of 6 to 12%
Jul 07, 2017, at 12:54 am
Chennai, July 6 (IBNS): Isuzu Motors India Pvt. Ltd., has announced the revised prices of its vehicle models with the GST rates applicable from July 1, 2017.
Ministry of Food Processing Industry: GST facilitation cell to guide industry about tax regime
Jul 06, 2017, at 08:22 pm
New Delhi, Jul 6 (IBNS): The Ministry of Food Processing Industries announced on Thursday that it has established a four member GST Facilitation Cell at its office to guide the industry about the new tax regime.
Bank of Maharashtra implements GST module for customers,non-customers
Jul 06, 2017, at 02:39 am
Pune, July 5 (IBNS): Bank of Maharashtra on Wednesday announced that it has successfully implemented the GST module for both, non-customers and customers alike.
Tata Motors revises pricing for PV post GST
Jul 05, 2017, at 10:54 pm
New Delhi, July 5 (IBNS) Car manufacturer Tata Motors on Wednesday announced the revision of pricing for PV post GST launch by the Centre last week.
GST to bring cheer for domestic electronic components’ manufacturers: Study
Jul 05, 2017, at 09:18 pm
New Delhi, July 5 (IBNS): Implementation of goods and services tax (GST) will bring innumerable benefits for domestic manufacturers of electronic components as cost of manufacturing will be significantly brought down, noted a recent ASSOCHAM-NEC joint study.
Finance Ministry issues clarification on GST rate for specified items for the differently-abled
Jul 04, 2017, at 08:38 pm
New Delhi, Jul 4 (IBNS): The Union Ministry of Finance on Tuesday, issued a clarification about questions being raised about GST rates fixed for specific devices for physically challenged persons.