Page 154 - Gst

Petroleum products may come under GST in future: Pradhan

At present, crude oil, petrol, diesel, jet fuel, natural gas, along with alcohol are out of GST net

10 days ahead of GST launch, India Inc frets over anti-profiteering rules

With barely 10 days for launch of the national goods and services tax (GST), corporate India says it is unclear how the anti-profiteering regulations will work. "What the GST Council released this week was some process rules for the way cases and challenges will be handled but it has not defined the 'how' of these rules' working," says Robert Tsang, GST implementation leader at consultancy Deloitte Touche Tohmatsu India.The rules outline the procedure to be followed for investigation and enquiry but not the mechanism for calculating of profiteering, says Pratik Jain, partner at consultancy PwC. "Businesses will have to themselves work these out," he adds.Anti-profiteering regulations in Australia and Malaysia largely used the net profit margin rule to determine any 'unreasonable' high profit. Legal experts say the Indian regulations do not provide policy guidance on how GST taxpayers are to determine the extent of cut in price to meet the test of "commensurate reduction" under ...

Is GST on diamond processing an unintended gift to China?

5% tax on job work to make smaller stones costlier; two-third local units may shift base to China

GST impact: AC, first class train fares to rise marginally

Service tax on ticket charges is set to hike from 4.5% to 5% after the GST implementation

Retailers will file single GST return every month: Hasmukh Adhia

The notion of filing the return thrice a month is wrong, says Adhia

Move to defer GST rate revision talks by 3 months to hit 80% garment units

Most such units are jobwork-oriented, can't take 18% tax rate; several workers stand to lose jobs

GST: Govt launches webpage to facilitate IT, electronic goods taxpayers

In order to ensure preparedness for the Goods and Services Tax (GST) roll-out from July 1, the Ministry of Electronics & Information Technology has launched a dedicated webpage for facilitating taxpayers with regard to addressing issues related to IT services and electronic goods.

GST impact: June may see muted growth in car sales, decline unlikely

Car makers, including luxury ones, sweetened discount offers this month to retain buyers' interest

Will GST mitigate the cascading effects of multiple taxes on healthcare?

GST will lead to reduction in cost of imported advanced medical equipment, says Ameera Shah

Won't blink on GST launch, no excuse for biz not being ready: FM Jaitley

GST will be launched at a grand function in Central Hall of Parliament on the midnight of June 30

GST impact: Movie tickets to get costlier from July 1, a killer for regional films

India is the world's largest film industry, producing more than a 1000 movies a year

Exporters seek incentives from govt to boost shipments, says Rita Teaotia

Under MEIS, the government provides duty benefits at 2%, 3% and 5%

GST: Registration of firms can be cancelled for not passing on benefits

National Anti-profiteering Authority to be set up for ensuring that customers get the benefit of GST

GST supply crunch: Fertiliser, pesticide pipeline turns dry ahead of sowing

Farmers and traders are holding up purchases as confusion over pricing after GST reigns supreme

GST: Advantage for Uttarakhand's bullion refineries

As the excise and VAT being replaced with a single tax rate GST, bullion refineries situated in excise free zone of Uttrakhand stand to gain and their edge in terms of lower incidence of duty over refineries in other areas of the country known as domestic tariff area will rather increase from 0.40 per cent to 0.78 per cent.Rudrapur in Uttrakhand, a hilly state of north India houses some 17-18 refineries refining dore bullion or unrefined imported gold. There are about 37 such refineries in the country, rest of them in domestic tariff area. Uttrakhand has offered excise holiday for five years to attract investments which attracted bullion refineries in last three years to the state. Even after excise duty was levied by the center, last year, on gold Uttrakhand refineries were better placed compared to other refineries.The Goods and Service Tax which will come in to force from July was supposed to subsume all special tax benefits but including all taxes like excise, entry tax and VAT. ..

Hospitals can bear up to 2% hike in costs due to GST: Apollo Hospitals

Anything beyond 2% would have to be passed on to patients, as it cannot be absorbed by hospitals

GST rollout: India will set an example for the world, says PM Modi

GST will be rolled out from midnight of June 30

The GST impact on media

What does the new tax regime mean for India's media and entertainment industry?

GST: Anti-profiteering authority can deregister firms

We hope we do not have to use the anti-profiteering clause, Jaitley said at the press conference

Govt notifies 18 sections, 2 rules for GST

All the notifications would be effective from June 22