GST News

August 17, 2016   admin  GST India
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Space crunch, GST make India International Trade Fair a dull affair

November 18th, 2017|0 Comments

After a lacklustre performance last year - thanks to demonetisation - the annual India International Trade Fairis back at Pragati Maidan this year, but the spark is till missing. Since all the state pavilions and the Hall of [...]

  • 24375

GST woes: 50,000 workers rendered jobless in 2 months

November 18th, 2017|0 Comments

The power loom weaving sector in the country's largest man-made fabric (MMF) centre in the city witnessed around 50,000 workers becoming jobless in the last two months, the power loom weaving leaders claimed. They said [...]

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Exporters can now file GST refund claim manually: CBEC

November 18th, 2017|0 Comments

Exporters can now manually file claims for GST refunds before tax officers owing to the specific modules not being available online, as per latest orders of the Central Board of Excise and Customs (CBEC).Services exporters [...]

  • 24373

Domestic formulation business for drug makers see recovery in Q2 as GST impact eases

November 18th, 2017|0 Comments

Domestic formulation sales of Indian drug makers have bounced back in the second quarter ended September with normalisation of supply chain impacted by transition into Goods and Services Tax (GST) regime.Domestic sales of top-10 drug [...]

  • 24369

Pass on rate cut benefits immediately, companies tell traders

November 18th, 2017|0 Comments

Top consumer products firms including ITC, Dabur, Nestle and GlaxoSmithKline Consumer have written to distributors, stockists and retailers to pass on the benefit of lower goods and services tax to consumers immediately, irrespective of maximum [...]

  • 24368

Eateries increase base prices to offset impact from GST rate cut

November 18th, 2017|0 Comments

Fast-food majors are raising the base price of items on the menu to offset losses they are likely to incur after the cut in Goods and Services Tax (GST) rates, reports the Times of India.The 23rd GST [...]

  • 24345

GST, low industrial growth pull down corporate profits by 1.5%: Report

November 17th, 2017|0 Comments

Lower industrial growth and adjustment to the GST regime have pulled down corporate profits by about 1.5 per cent to Rs. 1.03 trillion during the second quarter, against a healthy 13.2 per cent rise in the year [...]

  • 24343

Industry pitches for bringing natural gas under GST

November 17th, 2017|0 Comments

More than four months after the launch of GST, the industry has pitched for an inclusion of natural gas in the new indirect tax regime so as to help producers contain cost and aid in moving [...]

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GST lifted oil demand on higher vehicle sales, says report

November 17th, 2017|0 Comments

The introduction of Goods and Services Tax (GST) has lifted oil demand in India this year on higher sales of conventional passenger cars and utility vehicles, Wood Mackenzie said today.While demonetisation dampened petrol demand growth [...]

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Exporters can manually file GST refund claims: CBEC

November 17th, 2017|0 Comments

The government has allowed exporters to manually file before tax officers claims for GST refunds as it looks to fast-track clearance of dues to ease liquidity stress faced by them. Now exporters of services who [...]

  • 24331

GST rate cut: Centre doubles down on GST’s gains for consumers

November 17th, 2017|0 Comments

A day after the Centre notified the latest set of cuts in the rate of tax to be levied on a wide range of goods as part of the Goods and Services Tax (GST), the [...]

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Cement: little relief from GST rate cut on fly ash

November 16th, 2017|0 Comments

Given the government’s thrust on schemes Swachh Bharat, Housing for All and other infrastructure projects, cement companies were anticipating a reduction in the goods and services tax (GST) rate to 18%, a hope dashed when [...]

  • 24323

Match units feel let down over non-revision of GST

November 16th, 2017|0 Comments

Want the tax cut from 18% to 12% to save the industry Safety match manufacturers in the Kovilpatti region feel let down over the GST Council, which met recently to iron out rough edges in [...]

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Marginal revenue hit due to GST rates cut can be offset by compliance benefits: CEA Subramanian

November 16th, 2017|0 Comments

The cut in tax rates on 178 items by the GST Council recently has got the market worried over the pressure on the exchequer, and uncertainty whether the government will be able to make up enough [...]

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Delhi crosses GST target in October

November 16th, 2017|0 Comments

NEW DELHI: Delhi reached a milestone in Goods and Services Tax collections, registering a 23% increase in October over all taxes collected during the same month last year. More importantly, the capital crossed the 'break even' point for the [...]

  • 24317

Eating out gets cheaper as new GST rate for restaurants kicks in

November 16th, 2017|0 Comments

New Delhi: Eating out has become marginally cheaper from Wednesday as consumers will now have to pay less tax on food served in restaurants. Last week, the GST Council cut GST rates for all restaurants, except [...]

  • 24308

President hails GST at Trade Fair inauguration

November 15th, 2017|0 Comments

NEW DELHI: Inaugurating the 37th India International Trade Fair at Pragati Maidan on Tuesday, president Ram Nath Kovind said that the introduction of GST is a milestone and that the new regime has reduced barriers between states, creating a [...]

  • 24306

New GST rates may lower CPI inflation by 20 bps: Nomura

November 15th, 2017|0 Comments

The decision to lower GST (goods and services tax) rates on over 200 items could help pull down retail inflation by 20 basis points from the current levels driven by lower food and beverage prices, [...]

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  • gst pricing effects for exporters

Exports, hit by GST, fall 1.1% in Oct

November 15th, 2017|0 Comments

The decline is the first after 14 consecutive months of positive growth India’s goods exports growth declined by (-) 1.12% in October this year to $23 billion, the lowest pace of growth since (-) 6.86% in July [...]

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Anti-Profiteering guidelines under GST likely by next month

November 15th, 2017|0 Comments

Days after tax rates of about 178 products under goods & services Tax (GST) were changed, the government could be looking to come out with detailed anti-profiteering guidelines, according to three people close to the [...]

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Bring realty under GST with stamp duty, moderate rate:Assocham

November 15th, 2017|0 Comments

If the real estate sector is brought within the ambit of GST, it should be along with the stamp duty and moderate rate, and should not add to the cost of housing and construction, according [...]

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Countrymen can demand Jaitley quit over ‘deeply flawed’ GST : Yashwant

November 15th, 2017|0 Comments

Criticising Union Finance Minister Arun Jaitley over imposing a “deeply flawed” Goods and Service Tax (GST), BJP veteran Yashwant Sinha today said countrymen can rightly demand he quit for the hardships caused and also felt [...]

  • 24295

GST rates slashed: Eating out in hotels, restaurants to become cheaper from today

November 15th, 2017|0 Comments

Eating out in hotels and restaurants will become cheaper from today (15 November) with the Goods and Service Tax Council having slashed rates to five percent from 12 and 18 percent earlier. However, there is [...]

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Reach out to non-filers of GST returns: CBEC to fields offices

November 14th, 2017|0 Comments

The tax department has directed its field offices to reach out to businesses that have not filed returns under the GST but were paying taxes in the erstwhile service tax/VAT regime. The Central Board of [...]

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Linking GST cuts to elections ‘juvenile politics’: Arun Jaitley

November 14th, 2017|0 Comments

Finance Minister Arun Jaitley today debunked Congress' claim that it forced the government to lower tax on over 200 goods, saying rationalisation of rates was in works for 3-4 months and it is "juvenile politics" [...]

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