Page 166 - Gst

GST roll-out: Govt constitutes 18 sectoral groups for smooth transition to new tax regime

Decision was made during the 14th GST meet in Srinagar in May

GST: Shadow over solar power

Sector could see issue around debt financing, refinancing, financial closure due to changes

GST blow for solar power to soften

Revenue secretary Adhia says solar panels to attract 5% rate, not 18%

GST: Cheer for power sector; capital goods awaits final rates

Coal has been placed under 5% slab, capital goods will be under the 18% slab

GST: Higher rates on biodiesel may hurt Modi's clean energy plans

Industry players contend the 18% tax under the new regime will make the green fuel uncompetitive

GST: Pradhan says will ask FinMin to address issues of oil & gas players

As per industry estimates, overall GST impact on sector will be to tune of Rs 25,000 cr

GST impact: Gold importers, exporters to face many operational issues

Importing agency will have to pay 3% IGST on gold brought into the country

GST to have positive impact on gold industry: WGC

WGC said the gold supply chain will become more transparent and efficient

Need more time to prepare for GST rollout, says manufacturers' body

Industry urges govt to postpone implementation of new tax to October 1

Fadnavis supports film industry's demand for low GST: Producers Guild

Guild took up the film industry's concerns on GST and other issues during a meeting with Naidu

Bodhtree Consulting partners with Infosys to provide GST solution

Bodhtree also announced its strategic relationship with Stratfit Technologies Pvt Ltd

Paranoid about security, setting up analytics centre: GSTN CEO

GSTN itself has not yet received security clearance from the Home Ministry

Walmart India launches toll-free GST helpline to enable smooth transition

Walmart India has launched a GST toll-free helpline to enable its kiranas and other reseller members transition smoothly into the new tax regime. The Goods and Services Tax (GST) will roll out from July 1. The exclusive helpline has been set up to address retailers' queries, clarify doubts and explain the nuances of the new tax structure. Walmart India President & CEO Krish Iyer said: "GST is not just a tax reform, it is a whole new way of doing business...At Walmart India, our teams are working diligently to be 100 per cent GST-ready in time and we remain committed to help our partners". Iyer added that GST will positively impact the informal sector and small resellers and kiranas will be able to scale up their businesses significantly. Walmart India has also started a series of workshops for SME supplier partners to help them evaluate their GST compliance levels and prepare for the transition.

Full GST rate list: Here are the tax rates for all goods and services

Foodgrains are slated to cost less from July 1

Want to buy a Mercedes? Luxury carmaker's CEO says GST will make it easier

Inflated tax & duty structure post GST will hinder the utilisation of potential of luxury carmakers

Paint prices to remain stable under GST: IPA

After a 5.5 per cent recent hike, paint prices are expected to remain stable in the ongoing fiscal year under the Goods and Services Tax (GST) regime as the tax impact is neutral on this segment and raw material prices are showing signs of stability.While the Centre has narrowed down on a 28 per cent tax on the paints sector with only the powder coatings segment kept in the 18 per cent tax bracket, the current effective multiple taxes add up to a near 28 per cent.Currently, excise duty accounts for 12.5 per cent with the states charging a VAT ranging from 12.5-14.5 per cent. Additionally, paint companies have to pay an additional 1.67 per cent VAT on the excise duty.The decorative paints segment comprises 70 per cent of the Rs. 40,300 crore paints industry and powder coatings account for only 3-4 per cent of the trade."GST effectively will not change the price at the consumer end although there will be some adjustments on the dealers' end", Abhijit Roy, the newly appointed president .

India yet to tackle profiteering rules as Malaysia dilutes laws

Malaysia introduced the GST in April 2015

Amazon, Flipkart offer discounts to clear stocks ahead of GST roll-out

Some industry insiders say that orders may become normal only by the time Diwali comes around

Industry gets 90 days to claim credit for GST transition stock

However, the draft transition rules for the GST regime is for 60 days

3% GST opens room for cheap import of gold jewellery from FTA countries

3 per cent Godds and Service tax on gold will open window for cheap imports of gold and silver jewellery and articles from Indonesia and South Korea from 1 July. The reason being till now there is 12.5 per cent countervailing duty on import of such jewellery and articles from these countries with whom India has free trade agreements.Since excise duty of 12.5 per cent will be replaced with 3 per cent GST from July, countervailing duty also comes down at 3 per cent and there is no import duty on import from FTA nations or 1 per cent in some cases. So, according to a veteran bullion market source, "instead of normal duty of 15 per cent on import of gold jewellery, 3 per cent is lucrative enough for importers to flood Indian market with cheap jewellery".A year ago in February 2016, government proposed 12.5 per cent excise duty for gold jewellery but jewellers were given input credit benefit maki8ng effective rate of excise at 1 per cent and because of tariff rate of 12.5 per cent excise, .