Page 159 - Gst

From the finer print in GST

In the coming GST regime, imported goods attract IGST instead of present additional customs duty

Firms are fearful as uncertainty goes up

We run risk of 2017-19 being consumed by GST just as 2016-17 suffered on account of demonetisation

Steps taken to lead India into league of developed nations, says Meghwal

Reforms were aimed to help the industry and the government stood by its commitment, says Meghwal

Arun Jaitley hints at no review of GST rate on hybrid cars

Jaitley said weighted average of all rates decided by council is lower than present tax incidence

GST should not be rolled out with 'jugaad': Amit Mitra

Mitra said West Bengal has been the 'pioneer' in seeking GST implementation

GST Council reduces tax rates of 66 items: FM Jaitley

Council had received representations for 133 items; GST on movie tickets below Rs 100 cut to 18%

With GST, airlines might face taxation air pockets

Airlines are in a fix over the possibility of movement of aircraft parts being taxed under the GST

MSME units can now file GST-related grievances online

Government plans to put in place a monitoring mechanism in this regard

GSTN tells Suvidha Providers to seek ISO audit for systems

Only while uploading the data on GST portal, internet connectivity will be required

GST rings early bonanza for shoppers across high streets and malls

GST rate of 12% is proposed for apparel costing above Rs 1,000 and 18% for footwear above Rs 500

Jewellers to suffer GST pain due to inverted tax structure

Paying more tax than collected from customers may block about three-fourths of their working capital

IT systems not yet ready for July 1 rollout, say GST Suvidha Providers

Cygnet Infotech's founder says worst fears coming true as July 1 doesn't appear as feasible deadline

Bad news for small biz: GST forces you to file 37 tax returns instead of 13

Every transaction - sale or purchase - will have to be recorded online to gain from tax paid earlier

GST could open up the domestic market for acquisitions: Adi Godrej

Interview with Adi Godrej, Chairman, Godrej group

Firms to forfeit profiteered amount under GST

Companies held to be guilty of 'profiteering' under the goods and services tax (GST) regime could be asked to forfeit the amount in question, which could be deposited with a consumer welfare fund to be created for the purpose, say officials. The contours of a monitoring body are expected to be taken up during the 16th GST Council meeting on Sunday. The new tax is to take effect from July 1."The law provides that a supplier pass on to consumers the benefit of lower prices on account of reduction in tax incidence," explained an official. Any profiteering will be decided on a product basis, not earnings at an entity level. So, if a company is into four product lines and having losses but profiteering on one of its products, it will be held liable. Currently, there is no provision under indirect tax laws to penalise those not passing on tax-related benefits to consumers. The GST legislation says doing so is mandatory.The anti-profiteering panel will be set up by the GST Council, ...

NPPA bars price revision of non-scheduled drugs post GST

Other drug prices can't be hiked more than 10% within 12 months

Tirupur textile hub says 18% rate too high

The textile hub of Tirupur in Tamil Nadu is worried about the 18 per cent Goods and Services Tax (GST) for different segments in the production chain. It says this will put pressure on working capital of job work units and that 20-30 per cent of these might have to close down. The Tirupur textile industry does business worth at least ~50,000 crore every year, export and domestic. And, employes over a million people. Raja M Shanmugham, president, Tirupur Exporters Association, says at least 80 per cent of units in Tirupur are dependent on job work on the multiple stages of garment manufacture. The 18 per cent rate would now be applicable at each of these stages."The worry is the fate of the hundreds of micro and small units which were never under any tax purview so far," says T R Vijaya Kumar, managing director, CBC Fashions (Asia).South India Hosiery Manufacturers Association president A C Eswaran added that an 18 per cent rate would affect the hosiery sector badly, as most of the ...

GST Council forms 18 groups to sort IT, telecom, banking industry worries

Other sectors include export, textiles, gems and jewellery, food processing, e-commerce, oil and gas

GST will be game changer for Indian economy, says Rajnath Singh

He said that India's economy is grew faster even that of China under the NDA government

GST: A big government tax

Some countries with GST/VAT have complicated tax codes with four or more rates