Large companies may understand how to implement GST but not so sure about SMEs, says Avendus CEO
Imposition of cess without provision for input tax credit will result in cascading of taxes
Govt estimates to collect nearly Rs 9.27 lakh cr from indirect taxes next fiscal, up 9% over 2016-17
Tax collection at source would lock in Rs 400 cr of seller money, say e-commerce majors
The Rs 36,000 crore Indian biscuit industry has urged the government to waive low price high nutrition (LPHN) biscuits priced under maximum retail price Rs 100 per kg from Good & Services Tax (GST)."LPHN biscuits are the only hygienically produced affordable snack sold in small packs retailing at Rs 2 - 5. Consumed mainly by low income group, any increase in price of LPHN biscuits causes a direct reduction in demand. While there is a 62 per cent weighted average hike in input costs (maida, sugar and vegetable oil) over the last decade the biscuit manufacturers have been unable to increase their realization pro-rata," said Mayank Shah, Vice President & Spokesperson of the 'Biscuit Manufacturers Welfare Association'. Glucose biscuits offer consumers 72 kilo calories/ per rupee compared to 55 by bread, 18 by potato chips and 29 by namkeens. All three enjoy concessional rate of taxes. A 70 gram pack of glucose biscuits which retails at Rs 5, offers 315 kilo calories, about 16 per .
Sachin Bansal and Kunal Bahl approached Ficci to help them take their concerns over GST to govt
Revenue Secretary Hasmukh Adhia has said that individual exemptions under GST will be difficult
The GST Council has fixed the four-tier structure of 5%, 12%, 18% and 28%
GST Council plans three-rate service tax structure
States to assess 90% entities with annual turnover of up to Rs 1.5 crore
Businesses face inventory, logistics, budgeting & working capital issues as they move to new regime
The employees associations, representing about 70,000 officers and employees of CBEC
IRS officers to observe 'black day' today on Centre-state compromise on GST turf
Amit Mitra seemingly took credit for mending the Centre's stand over GST regulations
FM allays fears, says enough opportunities for officials in indirect tax regime
The new unified taxation system will bring in millions of unorganised businesses on one platform
GST Council has already decided on the four-rate structure for indirect tax regime, besides a cess
Only the nature of activity will change because there will be one national sales tax, says Jaitley
Goods and services tax, arguably India's biggest indirect tax reform, is set for a rollout this year
Over 70% calls received by helpline had a single concern on GST rates, says KDK Softwares CEO