Page 113 - Gst

Absence of guidelines for calculating profiteered amount irks India Inc

Last year, industry representatives had approached the GST Council seeking norms for calculating profiteering

Chidambaram attacks govt over 'one GST rate', asks why goals are changing

Until yesterday a single standard rate of GST was a stupid idea. Since yesterday, it is the declared goal of the government, Chidambaram said in a tweet

Welcome reform

A single standard GST rate will be just what the doctor ordered

Single GST rates in the works, 28% peak slab to be pruned too: Jaitley

Experts said the standard rate would be crucial in determining if the move would help industry or not

Single GST rate in the process, cutting tax on cement a priority: Jaitley

Jaitley said of the 1,216 commodities which are used, broadly 183 are taxed at zero rate, 308 at 5 per cent, 178 at 12 per cent and 517 at 18 per cent

Key learnings from GST advance rulings: Not all that 'bad'

There have been 280 advance rulings and 40 orders from Appellate Authority of Advance rulings in various states

In GST era , state govts control only 35% of their revenue: Report

With the implementation of GST, the autonomy of states is expected to reduce an additional 17% of the revenues

Back office firms move Gujarat High Court on 'intermediary' ruling

The firms have pleaded the definition of 'intermediary' is already established under the previous service tax regime, and alteration will increase the tax burden of the outsourcing industry

GST implementation to curb state govts' autonomy on revenues: Study

States primarily depend on two sources for their revenue - their own revenue and central transfers

Fearing 18% GST, back office firms challenge intermediary tag in Gujarat HC

In November, it was ruled that back office support services qualify as intermediary services and not as exports

As PM pitches for 18% GST on 99% items, Chidambaram calls it belated wisdom

PM Modi had on Tuesday indicated that further simplification of the GST was on the anvil

Tax on tyres likely to be slashed to 18% at GST Council meet on Saturday

Modi Tuesday indicated that the 28 per cent slab of GST would only be restricted to a few select items, such as luxury and sin goods

Computer screens, power banks likely to take GST cuts on Saturday

Big-ticket rate cuts unlikely at upcoming Council meet owing to revenue shortfall

Multi-state GST, Input Tax Credit fraud worth Rs 2 billion detected

According to officials, the fraud was committed during the past one-and-half years through bogus business and fake invoices and e-way bills

Finmin working on new draft of GST Constitution Amendment Bill

Finmin working on new draft of GST Constitution Amendment Bill

How Congress resurgence in Hindi heartland changes dynamics of GST Council

New Delhi, 13 December Finance minister Arun Jaitley's persuasive skill will be tested at the next Goods and Services Tax Council meeting, scheduled December 22, which will see three more state representatives from the Congress party.So far, all decisions have been taken by consensus. Voting has never been resorted to. If it now is, on some proposals, the ruling National Democratic Alliance (NDA) at the Centre will have to woo at least three states not ruled by it to their side, to get a resolution passed. If there is voting, the Centre can block any proposal, since it has 33.3 per cent of the total vote. Each of the 31 governments on the Council have 2.15 per cent of the vote, since the other 66.7 per cent is equally divided between them. Since 75 per cent of all votes are needed to see through a resolution, states on their own, even if they unite, cannot ensure a resolution through on their own. However, 12 states together can block any resolution.To get its resolution passed, the ..

GST Council may further trim 28% slab; taxes on cement likely to be cut

The 35 goods, which are left in highest GST slab include cement, automobile parts, tyres, automobile equipments, motor vehicles, yachts and demerit items like tobacco, cigarette and pan masala

Financial conditions tight, India headed for growth slowdown: Ex-CEA

Subramanian further observed that the country should brace itself for an economic slowdown

Indirect tax dept extends annual GST returns filing date to March 31

Archit Gupta, CEO ClearTax said,'given that filing for GSTR-9 had not begun online, an extension was required'

After traders request, GST return filing date extended to March 31, 2019

The announcement came a day after traders urged finance minister Arun Jaitley to extend the last date for filing annual GST return to March 31, 2019