Page 196 - Gst

Assocham suggests GST rate hike by 1-2% to compensate states for revenue losses

Luxury cars, tobacco and pan masala should be taxed at 26 per cent, Assocham added

2-day council meet tomorrow: Centre moves to overcome hurdle on dual control of GST

The two-day meeting between the Centre and state finance ministers to discuss GST norms begins on Thursday

Implementation of GST will help trade, industry: Official

There are 60,000 Central Excise and Customs and state government officers who will be trained for the switch to GST

GST row: Jaitley bats for cess over additional tax for compensating states

Jaitley said if the central government has to borrow money to fund states' compensation, it would add to its liability and increase cost of borrowing

Jaitley prefers cess for compensating states

The all-powerful GST Council would be meeting on November 3 and 4 to decide on the issues of four-slab rate structure

GST benefits Nagpur as companies like Flipkart look to turn it into logistics hub

Property prices have surged as companies from Amazon to tractor maker John Deere have set up central facilities in the city to cut down on transport costs

Centre's proposals on GST rates find favour with Niti Aayog

Arvind Panagariya on Monday defended the Centre's proposal of four-slab GST rates

Sisodia lauds Jaitley over GST, says 'grateful' to him

Sisodia says the Delhi government is a supporter of new tax reforms subject to "non-harassment" of traders

Test legality of cess by the Centre: Rajeev Dimri

The ideology behind GST is to reduce the multiplicity of existing indirect taxes and implement a uniform taxation structure across the nation. A perfect GST would have been wherein all the goods and services are taxed at a single tax rate, subject to minimal or no exceptions. However, for a country like India, tiered tax rate structure becomes inevitable to take into account the larger social agenda. That said, stretching the deviations to the extent of imposing cesses over and above GST for certain products would effectively turn GST into a common umbrella hosting several other taxes and cesses, which is against its primary intent. Such a proposition might take the GST structure back to the rigours of the existing system.If consensus is reached on additional cesses for luxury items and sin goods, it is critical to ensure that credit of these cesses is not restricted to flow through the value chain and should be kept fungible with other taxes such as CGST (central GST) and IGST (integr

Avoid cess, increase GST peak rate: Harishanker Subramaniam

India's goods and services tax (GST) journey is in its critical phase with the GST Council debating important issues such as rate structure, administrative ease and the GST law. Multiple rate structure is the pragmatic way forward, and aligned to the report by the committee headed by the chief economic advisor. While the debate around what will fall in which rate basket continues, it is important we have consistent classification across states to avoid issues.The emerging rate structure is four per cent, six per cent, 12 per cent, 18 per cent and 26 per cent, and the principle appears to be such that goods that currently have an effective indirect tax rate structure (value added tax, excise, central sales tax included) equal to or closer to these rate buckets will tend to fall in those rate buckets. The idea is to maintain the current effective indirect rate in the new GST rate structure with some upside in GST chain due to lower cascading. The 26 per cent peak rate basket means goods

GST can be paid online using debit, credit cards: Revenue Secretary

He said it will also ensure that the taxes deducted by sellers reach the government

GST law to boost domestic demand, drive job creation: PM Modi

He also said different taxes across different states have made goods and services more expensive

Huge challenges for CAs after GST implementation: Venkaiah Naidu

He said Chartered Accountants should play a vital role in addressing issues such as curbing black money

Bullion dealers, jewellers seek lowest GST slab

India imports almost all its gold requirement of 850 tonnes a year, which generates revenue of around Rs 25,000 crore at a basic customs duty of 10 per cent

Congress opposes multiple GST rates, exclusion of items

The GST rates would be discussed at the council's meet on November 3 and 4

A compromised GST

Multiple, progressive rates defy fiscal logic

GST: Centre, states put off decision on rate to next month

After Nov 3-4 meeting, the GST Council is scheduled to meet on Nov 9-10 when the Draft Model GST Law will be taken up

Clear refunds, drawback before GST roll-out: CBEC Chairman

Government intends to implement the Goods and Services Tax from April 1, 2017

Sept 2017 roll-out of GST would be ideal for TN: K Pandiarajan

Interview with School Education and Sports Minister, Tamil Nadu

Centre may propose 26% peak rate for GST

Four-tier structure may be proposed at GST Council meet starting today; almost 20-25% of all taxable goods may come under the maximum rate