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Goods and Services tax
Centre congratulates Bengal for becoming revenue surplus
Sun, Apr 22, 2018
The Central government has congratulated the West Bengal government as the state has become revenue surplus in March, officials said.
GST returns filing: Sushil Modi panel unveils new fusion model
Wed, Apr 18, 2018
The panel met the industry representatives, tax experts and the state tax officials on simplifying the return process. Nandan Nilekani, non-executive chairman of Infosys, was also present in the deliberations. GST Network (GSTN), the IT backbone of GST, has been implemented by software firm Infosys.
Raghuram Rajan: Implementation of GST not 'unfixable' problem
Thu, Apr 12, 2018
Rajan, who is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at The University of Chicago's Booth School of Business, gave the 2018 Albert H Gordon Lecture on the topic 'Leverage, Financial Crises, and Policies to Raise Economic Growth'. He was asked about the "shoddy implementation" of big ticket reforms like GST and demonetisation in India.
Most businesses struggling with GST, report sales fall
Wed, Apr 11, 2018
The industry seems to be struggling to make profits post GST, with about 26% saying they saw a decline in profits by more than 30%. More than 55% respondents are unsure or believe that GST is not good for their businesses in the long run.
Moving goods worth over Rs 50,000 across state borders? What you must do from Apr 1
Fri, Mar 30, 2018
The GST Council, earlier this month, decided on a staggered rollout of the e-way bill starting with inter-state from April 1 and intra-state from April 15. The platform has been made more robust and as many as 75 lakh inter-state e-way bills could be generated daily without any glitch. The system has been designed and developed by National Informatics Centre (NIC).
Rahul Gandhi slams GST citing World Bank report; Smriti Irani rebuts him saying he is quoting selectively
Sun, Mar 18, 2018
Congress president Rahul Gandhi also tagged with his tweet a media report that quoted the World Bank report as saying that the Goods and Services Tax (GST) implemented by the government from July 1 last year was one of the most complex, with the second highest tax rate in the world among 115 countries which have a similar indirect tax system.
GST collection to cross Rs 90k cr a month from April: CBEC
Fri, Mar 16, 2018
GST was implemented by the government from July 1 of the last year. She said the initial hiccups related to GST have been settling now. "A lot has been settled. All technologies that are required are there," Sarna said.
India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch
Wed, Mar 14, 2018
India GDP growth forecast: India's economic growth had slipped to a three year low of 5.7 per cent in April-June quarter of the current fiscal, though it recovered in the subsequent quarters. The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 per cent in 2016-17. The earlier estimate was 6.5 per cent.
GST council meet: GSTR-3B may be extended till June, simplified return forms on cards
Fri, Mar 09, 2018
The 26th GST Council meet is slated on March 10. Simplified sales return GSTR-3B was introduced in July, the month of GST roll out, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of final returns -- GSTR - 1, 2 and 3.
E-way bill for inter-state goods movement from April 1: GoM recommends
Sat, Feb 24, 2018
Prime Minister Narendra Modi said the recommendation of the panel would be considered by the GST Council at its meeting on March 10
Taxpayers can check return filing status of suppliers on GSTN portal
Fri, Feb 23, 2018
The GST Network (GSTN) portal has been developed to help buyers to check the tax payment status of their suppliers and make claiming input tax credit (ITC) easier. It would also show status of last 10 returns showing return type, financial year, tax period, date of filing and status whether GST filed or not filed.
Next GST Council meet may liberlise rules, revamp filing process
Mon, Feb 19, 2018
The 26th meeting of the council, held through a video conference, is expected to take measures that will make compliance easier for small businesses and traders, said the report.
Want to buy a property? know GST rates here
Fri, Feb 16, 2018
GST is expected to benefit both home buyers and developers.
India market is coming back post GST, says Indra Nooyi
Fri, Feb 16, 2018
Global beverage major PepsiCo is seeing demand coming back in the Indian market post GST and the company has registered "very solid mid-single-digit growth" in the October-December quarter, its Chairman and CEO Indra Nooyi said.
GST mop up could top Rs 1 trillion a month post anti-evasion steps
Tue, Feb 13, 2018
The government has budgeted about Rs 7.44 lakh crore from GST in the 2018-19 fiscal beginning April 1
India Inc on recovery path from Demo, GST shocks: CARE
Tue, Feb 13, 2018
A performance survey of somewhat 1,572 companies, excluding banks during Q3FY18, was carried out by CARE Ratings.
Coal India net profit up 4.21% in Q3
Sat, Feb 10, 2018
In a filing to the stock exchanges, it said the employee benefit expenses for the quarter includes an adhoc provision of Rs 67.79 crore towards pay revision of the executive employees.
GST returns under composition scheme have a surprise: Hasmukh Adhia
Tue, Feb 06, 2018
Out of 10 lakh businesses that opted for the composition scheme during the July-September period, about 7 lakh have filed GST returns for the quarter.
Budget FY19: Will there be any change in GST?
Thu, Feb 01, 2018
Economic Survey 2018 says, “GST promises to be a buoyant source of future revenues.”
Need for simplification of GST compliances: CII
Wed, Jan 31, 2018
Industry body Confederation of Indian Industry (CII) on Tuesday called for the need to simplify GST compliances and implementation.