Page 158 - Gst

Single GST rate on cinema exhibition, plead multiplexes

The goods and services tax (GST) cut for movie tickets below Rs 100 by the GST Council on Sunday has come as a breather for largely single-screen operators. From 28 per cent, this rate was reduced to 18 per cent.Close to 75 per cent of the 8,500-9,000 screens in India are single ones (that is, 6,000 to 6,500). Multiplex operators are disappointed. For, the revenue from tickets priced above Rs 100 is higher than that from tickets below Rs 100. While PVR and Inox Leisure, two of the country's leading multiplex operators, derive six to seven per cent of their revenue from movie tickets priced below Rs 100, for Mukta A2 Cinemas (from the Mukta Arts stable), the revenue from tickets priced below Rs 100 is 20 per cent. Rahul Puri, managing director at Mukta A2, says: "The GST reduction should apply to all ticket prices. We believe the 18 per cent slab is the correct one for films anddo not see why tickets should be bifurcated this way." Deepak Asher, non-executive director, Inox Leisure, ...

GST regime: CBEC to serve as Central Board of Indirect Taxes and Customs

Arun Jaitley has stressed that traders and industry had no option but to get ready by July 1

Levy 5% GST on namkeens: sellers to Arun Jaitley

Namkeens have been placed in the 12% taxation slab in GST regime

GST effect: Prices of major essential drugs to rise by up to 2.29%

Drug price regulator is confident that pharma industry would adopt tax system without much trouble

10% hike too little, we want more to offset GST impact, say pharma players

The pharmaceutical industry has sought permission to increase prices of non-scheduled drugs by more than stipulated 10 per cent in a year as the tax rate on most drugs was increased to 12 per cent under the proposed GST regime from the current incidence of nine per cent. In a meeting held by the Department of Pharmaceuticals with the drug industry, pharma representatives raised this issue. As per the Drug Price Control Order (DPCO) 2013, pharmaceutical companies can increase the price of non-scheduled drugs by upto 10% each year. While 80 per cent of drugs have been put under the 12 per cent GST rate, essential drugs are in the 5% bracket. The industry also raised the issue of refunds on taxes paid on input, called input tax credit in the technical jargon. The GST Council has decided that for stocks whose receipts are not available with dealers, only 40 per cent input tax credit will be given. However, the industry wanted 100 per cent refund.An industry representative who attended ...

Jewellery, tractor makers to gain from revised GST

The Goods and Services Tax (GST) Council's decision to lower rates on 66 items brought cheer to a host of companies in the jewellery, cinema and pharmaceutical sectors.Take jewellery companies. While a lower than expected rate of three per cent on gold was a positive, the earlier decision was to have 18 per cent (from two-three per cent) on making jewellery from plain gold. This would have meant price increases by jewellery makers, which could have impacted the volume. Importantly, it would have further widened the price differential between jewellery sold by organised entities like Titan, PC Jeweller and TBZ from counterparts in the unorganised sector. With this rate now down to five per cent, the organised sector entities can take calibrated price hikes and still gain market share from the others, who will see elevated compliance-related costs with GST implementation. Multiplex companies such as PVR and Inox Leisure will not be impacted much from the reduced rates (18 per cent ...

Unwarranted rush

There is a strong case for postponing the GST roll-out

'Unclean' GST exemptions - Real estate, alcohol

Arvind Subramanian was earlier in favour of bringing alcohol and real estate under GST

Infosys CEO Vishal Sikka meets Jaitley over preparedness for GST

We have announced 10,000 jobs in US, we are continuing to hire lots of jobs in India, says Sikka

Govt rules out centralised registration for banks under GST

Banks have been demanding a single centralised registration system

GST: Govt likely to defer E-Way Bill due to lack of software

GST Council agreed to rope in National Informatics Centre to work along with GST-Network

GST cut on merchant services to 5%; relief for textile, apparel workers

High level of 18% tax on merchant services would have offered inverted duty structure

Learn the benefits: Taxmen take GST to schools and colleges

Students of DPS Kolkata were taught about GST

GST and You: How are free samples treated under the new tax regime?

Amit Bhagat of PwC India responds to the queries regarding GST

Insulin, cashews, pickles to get cheaper: GST Council reduces rates of 66 products

Telecom rates unchanged; meeting on June 18 to discuss residual issues

Jewellers welcome GST cut on making charges

GST Council announced applicable rate of 5% today from 18% earlier

Brunt of GST to be felt for two quarters: GSK India MD

This comes after Abbott had earlier stated that it will reimburse trade partners for losses

GST must not be rolled out with jugaad: WB FM Amit Mitra

Says regime should be such that common man and small traders benefit alike

The Rs 35,000-cr business of making India GST-ready

Some of the players in the GST race are Payworld, Dell, Tally Solutions

10 consistent performers you can bet on

After growing rapidly over the past decade, companies are expected to maintain the momentum