Page 178 - Gst

GST best bet for states to improve finances, says RBI

Regulator identified debt sustainability of states to be the key factor in shaping finances

Hope on GST to curb cigarette smuggling: Tobacco Institute of India

The coming national goods and services tax (GST) will, says the cigarette industry, help curb smuggling of items in the segment.Cigarettes, both duty paid and tax paid, comprise 15 per cent of the entire tobacco market in India, which was estimated at Rs 144,000 crore in 2015.The Tobacco Institute of India (TII), representing 98 per cent of duty-paying cigarette makers, says the country has become the fastest growing and fourth largest illegal cigarette market in the world, on account of excessive taxation."While, the legal cigarette industry continues to decline as a consequence of successive years of high excise duty rate increases, cumulatively going up by 125 per cent since 2012-13. During the past five years, the legal cigarette industry has seen more than 25 per cent shrinkage in volumes," says Syed Mahmood Ahmad, director at TII. "Excessive taxation leading to the huge arbitrage opportunity has provided an enormous incentive to smuggling syndicates and undermined the legal ...

Digvijaya Singh urges Arun Jaitley to change CGST bill provisions

Says provisions would affect India's ranking on ease of doing business

Maharashtra FM calls Uddhav Thackeray, seeks Shiv Sena support for GST Bill

We will hold a presentation of the GST Bill for our legislators, said Mungantiwar

Creativity's case for exempt GST

A GST on art and performances will give little revenue to govt as market for art is still very small

GST will make domestic companies more competitive: Hasmukh Adhia

Revenue Secretary Hasmukh Adhia is hopeful of a smooth transition to the GST regime and says it will help domestic firms to become more competitive apart from streamlining the taxation for all business activities. "Unlike in other countries, the transition to the new tax regime would be smooth here because there are multiple points of taxation in the country. Hence, the possibility of sudden spurt in inflation is remote," said Adhia, who is spearheading the implementation of the Goods and Services Tax. He was speaking at a conference on GST organised by the Federation of Gujarat Industries and the chief commissioner, Central Excise, Customs & Service Tax, Vadodara zone, here last evening. Explaining GST's importance for giving a boost to the manufacturing sector, he said, "Cascading taxes along with non-availability of input credit meant that domestically produced goods found it harder to compete with imported ones. "GST is a multi-point tax on value addition with seamless ...

Reviewed Foreign Trade Policy to coincide with GST rollout: Sitharaman

Committee to submit suggestions to GST Council on treatment of trade scheme and tax rates

Art in the time of GST

Art, in India, is still absent from the public space and exists outside the mainstream

Haryana Assembly passes GST Bill

GST would be implemented in the entire country from July 1, 2017

GST implementation: July 1, 2017 is only the beginning

The challenge could be in getting vendors & supply chain partners compliant in time, says K Shankar

GST Bill to be tabled in Haryana Assembly today

Legislative agenda included are Gurugram University Bill, Haryana Administrative Tribunal Bill

GST: Important, so you will find a way

Arun Jaitley is right in proposing GST from July 1

Uttar Pradesh cabinet approves GST implementation from July 1

The decision was taken at the fifth cabinet meeting of the state government

Retail SMEs seek two-month extension window for GST compliance

The letter highlighted key challenges anticipated by the retail industry

Watch: Hasmukh Adhia is answering all your GST queries on FB right now

The issue of GST being taken up by Revenue Secretary, ministry of finance, Hasmukh Adhia

Sangh Parivar affiliates demand changes in GST, slam NITI Aayog

Demands were made to ensure MSMEs continue to get excise exemptions

GST impels review of export incentives

---Drop the pointer table sent with this ---With a national goods and services tax (GST) to take effect from July 1, the government has started a review of the Foreign Trade Policy (FTP), which could see some export incentives getting reduced in scope.The Directorate General of Foreign Trade under the commerce ministry has been meeting legal and tax consultancy entities on the issue. Particularly on scrip-based incentives such as the Merchandise Exports from India Scheme (MEIS) and the Services Exports from India Scheme. The ministry or its agencies issue a scrip to an exporter to be used for payment of central taxes such as Customs duty or excise duty and service tax on future procurement of goods and services. Such modes of payment would not be allowed after the GST regime begins. Significant changes to these schemes are not expected, owing to their scale and the lack of alternative ones. "MEIS benefits are also given to exporters for the processing part, i.e any loss incurred due ..

Uniform GST rate likely for textile industry, says Smriti Irani

Govt has launched PowerTex India on April 1 for benefit of powerloom industry, says Smriti Irani

GST: Won't spring surprises in fixing rates, says Arun Jaitley

Said companies should pass on to consumers the benefit of reduction in taxes under GST

GST will push India's growth to over 8%, enhance trade across states: IMF

Lower global oil prices have boosted economic activity and helped lower inflation