26 04, 2017

Distribution of GST Provisional Id and Access Token of Phase 4 dealers.

By | 2017-04-26T11:53:39+00:00 April 26th, 2017|GST News|

Office of the Special Commissioner of sales Tax, Maharashtra State, 3rd Flr., Vikrikar Bhavan, Mazgaon, Mumbai-400010 TRADE CIRCULAR No. JCST/Mahavikas/GST Enrollment/2017-18/B- 63Mumbai, Dt. 25/04/2017 Trade Circular No. 12 T of 2017 Subject: Distribution of GST Provisional Id and Access Token of Phase 4 dealers. Reference: 1) Trade Circular 35 T of 2016 dt. 12-11-2016 [...]

26 04, 2017

GST to boost domestic manufacturing, won’t up inflation: Revenue Sec.

By | 2017-04-26T11:16:30+00:00 April 26th, 2017|GST News|

The government on Tuesday said GST will not lead to inflation and rather make domestic goods competitive via-a-vis imported items. Revenue Secretary Hasmukh Adhia dismissed fears that GST implementation will lead to a spurt in prices, saying that unlike in other countries, the transition to the new tax regime would be smooth in India. [...]

26 04, 2017

Govt may not announce GST rates immediately for fear of market manipulation

By | 2017-04-26T11:03:32+00:00 April 26th, 2017|GST News|

The government is unlikely to announce the tax rates for various commodities under GST any time soon as it fears an early announcement could give rise to market distortions and hoarding. Sources privy to the development told the Financial Express the rates will be revealed just a few days prior to the July 1 roll-out [...]

26 04, 2017

GST to rate taxpayers, businesses on payment record, make ratings public

By | 2017-04-26T10:39:53+00:00 April 26th, 2017|GST News|

Trade and industry will be assigned a 'compliance rating' based on their credibility with regard to timely deposit of taxes to the exchequer and filing of returns under the goods and services tax structure. Revenue Secretary Hasmukh Adhia said a system of GST Compliance Rating will be put in place so that every trader [...]

25 04, 2017

Professionals may face GST as ‘casual taxable persons’

By | 2017-04-25T12:40:49+00:00 April 25th, 2017|GST News|

If you are an interior decorator based in Mumbai and are providing services on-site to a client in Bengaluru (where you don't have a fixed place of business), then irrespective of your turnover, you will have to register under Goods and Services Tax (GST) in the state of Karnataka. Small businessmen or professionals (such [...]

25 04, 2017

Odisha opposes use of clean cess funds for GST compensation

By | 2017-04-25T12:25:14+00:00 April 25th, 2017|GST News|

The Odisha government has opposed the decision of the GST Council to use proceeds of the clean environment cess for GST Compensation Fund meant for all states.Chief Minister Naveen Patnaik said this decision is disadvantageous to coal bearing states which have to bear pollution load and environment degradation and also the cost of rehabilitation. He [...]

25 04, 2017

Bihar adopts GST; Nitish terms it as ‘a historic moment’

By | 2017-04-25T10:56:44+00:00 April 25th, 2017|GST News|

Both the Houses of Bihar Legislature today unanimously adopted the Goods and Services Tax (GST) bill along with the Bihar taxation (Amendment) Bill, becoming the second state after Telangana to pave the way for roll out of the GST from July 1. Bihar Legislative Assembly as well as Legislative Council adopted the Bills related [...]

25 04, 2017

Under GST, small cars may see hike in prices

By | 2017-04-25T10:39:54+00:00 April 25th, 2017|GST News|

Small and mid-sized cars may see a small hike in prices after the Goods and Services Tax (GST) is rolled out from 1 July as different goods are fitted into the four-slab rate structure. The GST will unify at least 10 central and state taxes into one. Goods and services will have to fall [...]

24 04, 2017

Status of GST Migration

By | 2017-04-26T10:57:46+00:00 April 24th, 2017|GST News|

Vanaja N. Sarna Chairman GOVERNMENT OF INDIA MINISTRY OF FINANCE/ DEPARTMENT OF REVENUE CENTRAL BOARD OF EXCISE & CUSTOMS Dated- 21st April, 2017. DO.No.05/CH(EC)/2017 Dear Colleagues, In this week’s newsletter I would like to highlight the importance of GST Awareness Campaign (GAC) of CBEC. As you are aware, this work is presently being done [...]

24 04, 2017

GST transition may hit dealers, retailers hard

By | 2017-04-24T12:26:44+00:00 April 24th, 2017|GST News|

The Goods and Service Tax (GST) regime is just around the corner but the credit input-related transitional provision is likely to have a major impact on dealers' as well as retailers' pockets. In central GST if dealers or retailers do not have the excise bills issued by the manufacturer in their name they will [...]