GST needs major rate structure revamp, says Hasmukh Adhia

Adhia said the overhauling would require some calculations by the fitment committee, which will decide which items need a rationalisation of rate under the GST regime.

3 hours ago

Only 3.9 million GST returns for September, number half the expectation

Worried with the less than expected level of compliance, the central government has already asked states to find out possible reasons.

6 hours ago

Is Modi govt planning to bring real estate under GST? How will it benefit home buyers?

Economists and market analysts opined that real estate has seen the highest tax evasion among all business sectors and need to be regulated in a structured manner.

9 days ago

After IMF and ADB, World Bank lowers India's GDP growth forecast to 7%

The World Bank has said that India's growth rate may slow down to 7.0 percent in 2017 from the previous 8.6 percent in 2015 and the slowdown has been attributed to demonetisation and GST.

11 days ago

Diwali Dhamaka for exporters: No tax for six months, GST refunds in two months

For six months, we are actually reverting back to the pre-GST scenario, said the Revenue secretary

14 days ago

Unstimulating: Fiscal deficit hovers at 96% of full-year target, dashes stimulus hopes

During the same period last year, fiscal deficit had touched 76.4 per cent of the full-year target

22 days ago

Harbhajan Singh unhappy with PM Modi's GST? Check out cricketer's witty tweet

The India off-spinner took to Twitter to express his disappointment over increase in restaurant bill following the implementation of the Goods and Services Tax.

24 days ago

More setbacks? GST collections fell to Rs 90,669 crore in August

During the month of August, assesses paid taxes also dropped by around nine percent. Reports say that 55 percent of assesses paid taxes for August, compared to 64 percent for July.

25 days ago

Narendra Modi had unmade Rahul Gandhi in 2014 but now, he is making him again

The Congress vice-president's talks in the US are leaving a lot of people "pleasantly surprised". It is because the Modi govt's overconfident approach but below-expectation delivery, especially in economic sector, has boosted the image Rahul is projecting with calculation.

Sep 20, 2017

GST recoil: Modi government eyes spending cuts due to low tax collection

If the current trend continues till the year-end, revenue shortfall could be as much as Rs 80,000 crore ($12.5 billion).

Sep 19, 2017

No further extension in filing returns under GST: Government

July returns are to be filed by October 10 under GSTR1, October 31 under GSTR2 and November 10 under GSTR3.

Sep 17, 2017

GST recoil: Exporters say higher costs hit orders, exports drop 15% till October

Costs rise 1.25 percent as govt delays duty refunds; resulting liquidity crunch forces exporters to postpone shipments.

Sep 16, 2017

GST peppered with input credit claims for Rs 62,000 crore in July

Govt to investigate unduly large input tax credit claims made before GST was introduced on July 1.

Sep 11, 2017

GST cess hike on mid-sized, luxury cars, SUVs explained; what costs more and how

Popular models like Jeep Compass, Maruti Suzuki Ciaz, Toyota Innova Crysta, Mahindra Scorpio, Tata Safari, Volkswagen Vento, Toyota Fortuner will see hike in prices.

Sep 11, 2017

Taxed, and really taxed: GST Council swamped with complaints by traders

Issues faced by companies include slow response of the GSTN portal, intermittent accessibility of the portal and errors popping up.

Sep 9, 2017

Exporters demand complete GST exemption on capital crunch

About Rs 1.85 lakh crore of working capital will get stuck annually because of GST implementation.

Sep 6, 2017

GST impact: Indian services activity contracts in August

The Nikkei India Services Purchasing Managers' Index (PMI) Business Activity Index improved slightly to 47.5 in August from 45.9 in July.

Sep 5, 2017

Government waives penalty on late GST returns for July

For July, GSTR-1 needs to be filed between September 1 and 5 and GSTR-2 between September 6 and 10.

Sep 2, 2017

GST: Govt notifies e-way bill transport rules, exempts mass consumption goods

The e-way bill is required when goods consignment value exceeds Rs 50,000 and transportation happens across state boarders.

Aug 31, 2017

Mercedes-Benz India may go back to pre-GST prices as new cess kicks in

The government on Wednesday approved the to increase cess for larger cars from 15 to 25 percent.

Aug 30, 2017