GST

Pass on GST rate cut benefit to consumer or face action, Hasmukh Adhia tells companies

"I am not willing to accept their argument to postpone passing on the benefits to consumers till they have disposed of their old stocks," Adhia said.

Nov 20, 2017

Cabinet approves formation of National Anti-profiteering Authority under GST

Not just NAA, the GST framework now comprises of a standing committee, screening committees in every state and the Directorate General of Safeguards in the Central Board of Excise & Customs .

Nov 16, 2017

Restaurants agree to lower GST rate, but menu prices may rise

Earlier, the tax rate was 18 percent for air-conditioned restaurants and 12 percent for non-air-conditioned eateries.

Nov 16, 2017

No single GST rate but finance minister hints at further rate cuts

Jaitley said that, "In four months, we have rationalised the 28 percent slab. Such rationalisation in future depends on revenue buoyancy."

Nov 14, 2017

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FMCG companies set to reduce prices after GST rate cut; but benefits unlikely to reach consumers soon

Firms like Hindustan Unilever, Dabur, Amul, GlaxoSmithKline (GSK), Procter & Gamble, Nestle and Perfetti Van Melle said they have either decided to cut down prices or are planning to do so.

Nov 13, 2017

Should Infosys prepare for some court dates? CAIT threatens legal action over glitches in GST network

The Confederation of All India Traders has said that the GST network issues are serious and they will have to take "shelter of the court of law" if no action is taken against Infosys.

Nov 13, 2017

Bring petroleum products, real estate, electricity under GST : Congress

PM Modi's "Gabbar Singh Tax" is shrewdly designed to help his wealthy friends but hurts millions of small traders, Congress stated.

Nov 11, 2017

In Gujarat, Manmohan Singh calls demonetisation a disaster

"Does questioning the Goods and Services Tax (GST ) and demonetisation make one a tax evader? This attitude of suspecting everyone to be thief or anti-national is damaging to democratic discourse," the former PM said.

Nov 7, 2017

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PM Modi to Congress: India would have ranked 100 earlier if right disciplines were followed

If there had been certain disciplines under the previous government like the insolvency code, bankruptcy code or commercial code, the Congress would have enjoyed the celebration of India's 100 position, he said.

Nov 4, 2017

Confused between a job in Delhi and Mumbai? This is the city that has a higher salary scale

As per World Bank's Ease of Doing Business report, employees in Delhi are paid much better than those in Mumbai even though workers in the commercial capital are entitled to more annual paid leaves.

Nov 2, 2017

Infosys refutes claims of unsatisfactory work on GST network; promises to resolve issues at the earliest

Three government officials have said that they are not happy with the GST network created and run by IT giant Infosys as taxpayers have frequently been facing glitches.

Nov 1, 2017

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Govt likely to lower GST rate for small business, is this an election strategy?

The ministerial panel recommended a new tax rate under the composition scheme would be 1 percent for traders, manufacturers and restaurants, which previously stood at 1 percent, 2 percent and 5 percent, respectively.

Oct 30, 2017

GST network: 18 of 27 glitches fixed, Infosys to expand team to put GSTN on track

The IT company, in it its meeting with the GoM on October 25, told the group that it would step up its 100-member team to speed up the bug fixing exercise.

Oct 29, 2017

GST driving away hybrid cars: Toyota Camry hybrid halts production over declining sales

Hybrid vehicles attract a total levy of 43 percent (28 percent tax and 15 percent cess) under GST.

Oct 23, 2017

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.

Oct 22, 2017

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.

Oct 22, 2017

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.

Oct 13, 2017

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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.

Oct 11, 2017

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

Oct 8, 2017

rupee tax collection indirect collection customs direct excise stt swachch bharat cess arun jaitley tweets finance ministry refund

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

Sep 30, 2017

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GST