Page 135 - Gst

GST has not helped garment exports: Traders to Parliamentary committee

--Drop the pointer table---Garment exporters have told Parliament's standing committee on commerce that they are yet to see any benefit from the Goods and Services Tax (GST), with no decrease in input costs.A delegation of the Apparel Export Promotion Council (AEPC) also said shipments might dip in the globally competitive market. Bangladesh and Vietnam, for instance, have cost advantages on account of preferential trade agreements with major export markets and buyers are moving to these destinations for sourcing. As a result, they have warned, they might be forced to shed jobs. GST's compliance requirements, they've complained, has strained their time and cost resources. "The overall effect on apparel exporters, especially small and medium ones (MSMEs), is burdensome and stressful due to substantial increase of working capital and higher transaction cost. MSMEs have to recruit the services of chartered accountants to manage GST payments and refunds," said Ashok Rajani, chairman of ...

GST a gamechanger for economy, teething troubles expected: DIPP official

The official observed that while everyone was in favour of low indirect taxes, the revenue generation also needs to be factored in by the policymakers

Businesses can now cancel registration on GSTN portal

Businesses which have migrated to the GST regime but wish to cancel their registration can do so now on the GSTN portal. The utility named 'Cancellation of Registration of Migrated Taxpayer' has been launched today on the GST Network (GSTN) portal, its CEO Prakash Kumar said today. There are over one crore registered taxpayers in Goods and Services Tax (GST) regime. These include over 72 lakh businesses which have migrated from the earlier excise, service tax or VAT regime, and 28 lakh fresh registrations. "Migrated businesses with turnover up to Rs 20 lakh who have not issued invoice can cancel their registration on the portal now," Kumar said. The utility REG 29 is available on the portal just below the profile section once a taxpayer logs into GSTN. Since only over 50 lakh businesses on an average file returns every month, it is felt that there would be many businesses which do not need to file return and pay taxes under GST regime, which kicked in from July ...

GST collections rise to Rs 92,150 crore in September

These were marginally lower by Rs 133 crore than Rs 92,283 crore in July

Taxing times

GST seems to have translated into "good sensible torture" for taxpayers

Inter-state supply may come under GST composition

A ministerial panel is expected to finalise the contours of the revised structure in its next meeting on Sunday

GST harassment

The revenue secretary has admitted that it would take a year's time to stabilise the system

Saving the GST

Overhaul of procedures and rate rationalisation will help

GST will remain a 'Good and Simple Tax', says Union Minister Naqvi

GST is a major reform to make country's economy better and to make small, medium and big businesses easy: Naqvi

When exemption rules crimp operating leeway

Before introduction of GST, import of capital goods could be made under EPCG authorisation without payment of basic customs duty and additional duty

GST machinery still unrolling

For August and subsequent months, the facility of filing GSTR-1 has not been made available as yet by the GSTN

GST: What is the procedure to be followed in case of a sale return?

At the time of undertaking a sale transaction, the supplier must issue a tax invoice charging applicable GST

GST dents Diwali biz of Surat textile units, sales 15-20% of typical season

The impact of GST has led to orders drying up this year, especially from north and central India wholesalers this season

Exporters yet to receive GST refunds despite govt's reassurances

Were promised payments from October 10, but the wait continues

Corporates to slash Diwali gifts budget by 35-40%, says Assocham

Demonetisation and GST caused disruptions

Eating out in AC restaurants may soon get cheaper, GST could be cut to 12%

GST panel mulls paring rate on such eateries to 12% from 18%, bring them at par with non-AC ones; Five-star and above to continue to attract 18%

GST a mixed bag for inflation

The GST led to a rise in landline telephone bills, it did not jack up mobile bills by much

Steady on

Bringing real estate, fuel under GST at this stage is risky

Experts say J&K's attempt to bring alcohol, petrol under GST not viable

J&K is essentially attempting to replace the VAT levied on petrol, state excise duty on alcohol, state-level duty on electricity, and stamp duty on land with SGST

Reforms like demonetisation and GST carried out at the right time: Jaitley

The finance minister said there is a great interest about India in the United States and among its investors