Page 186 - Gst

Cabinet likely to consider GST supplementary legislation today

GST will be levied on sale of goods or rendering of services after new tax regime is rolled out

GST may add to India Inc's documentation burden

Industry is worried it might face increased compliance burden due to rules under the proposed goods and services tax (GST) regime. Companies would have to upload three returns every month - by the 10th, 15th and 20th of the month after a sale happens, said M S Mani, senior director, indirect tax, Deloitte. According to rules on returns, companies would have to submit details of its supplies or invoices by the 10th of the subsequent month. They have to upload details of purchases of inputs by the 15th of the subsequent month. GST returns, carrying details of taxes paid and input credit taken, have to be filed by the 20th of the next month, said Mani. Besides, by the next year-end, companies would have to upload annual returns as well. This would burden industry with too much compliance. Service companies such as Infosys, Tata Consultancy Services (TCS) and Airtel, among others, would be particularly hit. Service providers would have to file 37 returns each a year, said Mani, from two ..

T N C Rajagopalan:Better news mixed with warning reminders

GST Council cleared 5 essential legislations that have to be passed by Parliament

E-commerce companies to pay up to 1% TCS under GST

E-commerce companies will also have to file returns on the TCS deductions

It's better to introduce GST from September, not July: Haseeb Drabu

Interview with Jammu and Kashmir Finance Minister Haseeb Drabu

Not many changes in GST rates say officials

They also said the rates would not be inflationary because foodgrains are likely to be exempted

Tax dept to calculate GST's impact on inflation

This is being done to minimise price rise once the new indirect tax regime is rolled out

GST can push up GDP by 150-200 bps: Deepak Parekh

Noted industrialist Adi Godrej also praised that GST would give a tremendous boost to GDP

Stage set for July 1 rollout: GST Council caps cess on luxury goods at 15%

All five Bills cleared, paving way for new indirect tax regime roll-out from July 1

Council meeting to pave way for GST Bills in Parliament, Assemblies

The draft SGST and UTGST Bills will be more or less replicas of the draft Central GST Bills

Council meeting to pave way for GST Bill in Parliament, Assemblies

For now the four tax slabs will remain the same at 5%, 12%, 18% and 28%

Tax check in GST regime

It's unlikely that RCM will be there for agricultural produce such as fruit, vegetables or cereals

Inquiry into GST's IT infra firm for alleged tax evasion still on: CBEC

GSTN was set up in March 2013 as a non-profit, non-government company

Modi hopes for 'breakthrough' on GST

Citing positive response from states and political parties, he said tax reform will be in place soon

States on board, GST set for July roll-out

Council clears Central, Integrated Bills that are likely to be introduced in Parliament

Exempt low-cost housing from service tax under GST: Venkaiah Naidu

Naidu also asked states to waive stamp duty for affordable housing projects

GST demand can be paid in instalments

Final draft says deals in states' territorial waters to be treated as intra-state supplies

Quasi-judicial body likely to curb profiteering post GST

Under GST all traders, industries will have to get register with GST network to pay taxes

Salient features of CGST and IGST Bills approved by the GST Council

To provide certainty in tax matters, a provision has been made for an Advance Ruling Authority

Tamil Nadu fully committed to GST rollout, says Finance Minister Jayakumar

Tamil Nadu, which initially raised issues related to GST, has said that it is is fully committed to the roll out and successful implementation of the GST. The state has also submitted its views on specific provisions of the draft laws in writing.The state said as soon as the CGST, IGST and Compensation Laws are enacted by the Parliament, it will be in a position to place the SGSTBill before the State Legislature.Former Chief Minister J Jayalalithaa had consistently raised many issues including the impact of the proposed GST on the fiscal autonomy of States, huge loss of revenue that manufacturing and net exporting States would suffer on account of GST, need to guarantee States compensation for the loss incurred on account of GST through an independent mechanism, problem of loss of revenue on account of lower tax rates on declared goods, need to keep petroleum products and alcoholic liquor for human consumption outside the ambit of GST, issue of dual control, fixing of thresholds and ..