31 01, 2017

GST will benefit warehousing sector : Official

By | 2017-04-06T10:48:37+00:00 January 31st, 2017|GST News|

Implementation of GST will benefit warehousing sector with prevailing taxation issues in logistics and transportation expected to be streamlined, a senior official said today. Warehousing sector will see transformation to a next level as the GST regime would have preferential treatment towards this sector, Nikhlesh Jha, Additional Secretary & Financial Advisor, Ministry of Consumer Affairs, [...]

31 01, 2017

Tech players brace for GST impact, want manufacturing norms to ease

By | 2017-04-06T10:48:37+00:00 January 31st, 2017|GST News|

With the government set to present the Union Budget 2017-18 on February 1, some of the leading tech companies and IT manufacturers are bracing up for the implementation of the much anticipated Goods and Services Tax (GST), demanding that the excise duty structure should be rationalised. "The IT industry has been seeking an extension of [...]

31 01, 2017

GST: Tax base sharing is main cause of ‘disquiet’ amongst officers

By | 2017-04-06T10:48:37+00:00 January 31st, 2017|GST News|

The dual GST model adopted by India is like a joint venture between the Centre and states, where both would levy and collect GST on a common tax base in such a predetermined manner that a taxpayer would have interface broadly with only one of the aforesaid two tax administrations. Success of a joint venture [...]

28 01, 2017

Note Ban, GST to bring more revenues to government: Arun Jaitley

By | 2017-01-28T11:01:21+00:00 January 28th, 2017|GST News|

Finance Minister Arun Jaitley today put up a spirited defence of demonetisation, saying the drive "shook" the financial system for a short while, but will integrate the shadow economy with the formal in the long run and ensure better tax compliance. He said most contentious issues regarding the Goods and Services Tax (GST) have been [...]

28 01, 2017

GST won’t lead to job losses, enough work to be available: Arun Jaitley assures

By | 2017-04-06T10:48:37+00:00 January 28th, 2017|GST News|

After the Customs and Central Excise officials raised concerns of job loss after rollout of Goods and Services Tax (GST), finance minister Arun Jaitley on Friday assured that they should have no insecurity as enough work and opportunities will be available to them and only the nature of work will change in the new indirect [...]

27 01, 2017

Input tax credit on ATF: Aviation Min suggests ways to compensate airlines

By | 2017-01-27T10:42:37+00:00 January 27th, 2017|GST News|

Civil aviation ministry has written to the finance ministry suggesting ways to compensate airlines that will not be able to take input tax credit on aviation turbine fuel (ATF) under the Goods and Services Tax (GST). Since petroleum products including ATF are outside the GST regime for the time being, airlines will not be able [...]

26 01, 2017

State seeks GST exemption on drugs used for cancer, kidney treatment

By | 2017-01-26T12:47:36+00:00 January 26th, 2017|GST News|

The drugs used for cancer and kidney treatment, and medical equipment for dialysis in Maharashtra may continue to be exempted from all taxes even after the roll out of Goods and Services Tax (GST). State finance minister Sudhir Mungantiwar has written to Union finance minister Arun Jaitley and has sought GST exemption for specific cancer [...]

26 01, 2017

Healthcare sector should keep outside the purview of GST : Assocham

By | 2017-01-26T12:33:13+00:00 January 26th, 2017|GST News|

Healthcare sector should be kept outside the purview of Goods and Services Tax (GST) as it is likely to make medical care expensive and unaffordable for the common people, industry body Assocham said today. Healthcare is currently exempted from service tax and a similar dispensation should continue even after the implementation of the GST regime [...]

26 01, 2017

GST: 70,000 tax officials warns of non-cooperation movement

By | 2017-04-06T10:48:37+00:00 January 26th, 2017|GST News|

Opposing some recent decisions taken by GST Council, various indirect tax officials' associations today decided to start non-cooperation movement. To start with, the employees associations will not celebrate international customs day on Friday. Besides, they will observe 'black day' by wearing black badges on Martyrs' Day, i.e. January 30, as per minutes of meeting held [...]

25 01, 2017

Indian biscuit industry demand exemption from GST

By | 2017-04-06T10:48:37+00:00 January 25th, 2017|GST News|

The ₹36,000-crore Indian biscuit industry, on Tuesday, demanded complete waiver of Good and Services Tax (GST) on Low Price-High Nutrition (LPHN) biscuits priced under a maximum retail price of ₹100 a kg. “LPHN biscuits are the only hygienically produced and affordable snack sold in small packs retailing at ₹2-5. Consumed mainly by the low-income group, [...]