GST News

August 17, 2016   admin  GST India
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Nothing alarming about massive transitional GST credit claim, says finance ministry

September 20th, 2017|0 Comments

The massive Rs65,000 crore tax credit claimed by businesses in July while shifting to the goods and services tax (GST) regime is not a cause for worry as it will only be utilized by firms [...]

  • 17402

Over 1,400 flour mills face closure threat over GST levy on branded packs

September 20th, 2017|0 Comments

Earlier, the GST Council had announced "nil" duty on loose and "registered but without trademark" branded packs, which prompted many registered trademark brands to surrender their licenses to come out of the tax net. These mills have [...]

  • 17401

GST refund: ‘Mini-social crisis’ brewing

September 20th, 2017|0 Comments

Exporters are troubled by the ‘inordinate delay’ in getting Goods and Services Tax (GST) refunds. On Tuesday, representative assocations told the Centre that since the working capital crunch (owing to the delay) is occurring in [...]

  • 17400

Exporters urge government panel to speed up GST refunds

September 20th, 2017|0 Comments

Exporters told a high level government panel on Tuesday that that Rs 65,000 crore could get stuck in the July-October period if the current mechanism of refunds for the goods and services tax (GST) continues [...]

  • 17322

High input tax credit claims hit GST revenues

September 19th, 2017|0 Comments

In the first month under the GST regime, government’s revenue collection has remained muted due to high level of input tax credit claims filed by the taxpayers for the transitional period, ET Now reported today [...]

  • 17323

As GST era sets in, this is why coders and investors have their eyes on the highway

September 19th, 2017|0 Comments

They call it ‘Project Zoom’ inside Rivigo, a tech-enabled logistics company headquartered in Gurgaon. Essentially, if a family wants to move from Delhi to Mumbai, you notify Rivigo online, listing the items to be transported. [...]

  • 17325

Post note ban, GST, government considers financial stimulus to economy

September 19th, 2017|0 Comments

The Union government is said to be considering to provide some financial stimulus to the economy in wake of slowing growth post demonetisation, transition to the Goods and Services Tax (GST) and tepid private investment, [...]

  • 17321

72 hours to go: Only 6.9 lakh taxpayers file GST returns

September 19th, 2017|0 Comments

With the deadline for filing Goods and Services Tax (GST) returns for August coming to an end in less than 72 hours, only 6.9 lakh taxpayers have filed their GSTR-3B- a short summary return, at [...]

  • 17324

CBEC tells field officers to take GST disputes to Supreme Court

September 19th, 2017|0 Comments

Central Board of Excise and Customs (CBEC), the indirect tax administration of the union government, on Monday instructed its field officers to prepare to move the Supreme Court on all disputes where levy of goods [...]

  • 17326

GST rubs colour off the golu festivities

September 19th, 2017|0 Comments

The miniature dolls for golu are making a big hole in the pockets of people and cutting into profits of makers, as handicrafts are now included under goods and services tax (GST). GST on paint and material costs has [...]

  • 17050

GST may hit tribal welfare

September 18th, 2017|0 Comments

Tribals and forest-dependent communities across the country may lose a significant share of the revenue earmarked for their community welfare activities to the Goods and Service Tax regime (GST). The revenue from the not-for-profit souvenir [...]

  • 17048

Group Of Ministers Identifies 25 Glitches In GST Portal

September 18th, 2017|0 Comments

A high-powered group of ministers will meet every fortnight to resolve over two dozen technical glitches identified in the GST tax portal GSTN, the panel's head and Bihar Deputy Chief Minister Sushil Modi has said. [...]

  • 17049

GST has safeguards to check tax evasion

September 18th, 2017|0 Comments

If some traders and businessmen are trying to hoodwink the system by suppressing part of cash based transactions with the connivance of consumers, they will be doing so at their own peril, warns the Commercial [...]

  • 17051

Lottery mafia seeks to exploit flaws in GST

September 18th, 2017|0 Comments

The Goods and Service Taxes (GST) regime appeared to have thrown the door open for organised racketeers seeking to rake in huge profits by retailing banned other-State lotteries in Kerala. The so-called lottery mafia is [...]

  • 17047

No further extension in filing returns under GST: Government

September 18th, 2017|0 Comments

The government on Saturday ruled out further extension in filing of returns under the Goods and Services Tax (GST) regime after December and advised taxpayers to file them in advance and not wait for the [...]

  • 17046

GST Composition Scheme registration open till Sept. 30

September 18th, 2017|0 Comments

The Goods and Services Tax Network on Sunday announced the opening of the registration window for the Composition Scheme again till September 30. Under the Scheme, small taxpayers with a turnover of ₹75 lakh can [...]

  • 16897
  • Incentive Schemes For Exporters under GST

GST hits exporters’ order book hard; 15% drop till October: FIEO

September 16th, 2017|0 Comments

Two months after the roll out of the goods and services tax (GST) regime in July, the order books of exporters are said to have taken a hit with estimates pegging the impact to up to 15 per cent across [...]

  • 16876
  • Profit petroleum in GST

Bunker sales fall 90% post-GST

September 16th, 2017|0 Comments

MUMBAI, SEPTEMBER 15:   Ships are avoiding re-fuelling in India since July after an 18% Goods and Services Tax (GST) raised bunker (ship fuel) costs substantially, forcing vessel owners to tank up in Colombo. Bunker sales [...]

  • 16872

GST: Pharma sales growth sluggish at 2.4% in Aug

September 16th, 2017|0 Comments

Mumbai: The organised pharma retail market was impacted in August with the market registering a sluggish growth rate of 2.4% in the aftermath of the implementation of the GST in July. Though sales in August showed a slight recovery [...]

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  • gst baba ramdev ayurvedit products and medicines

High GST hits Ayurveda medicine industry hard

September 16th, 2017|0 Comments

Industry for 5% tax for classical Ayurveda medicines The Ayurveda medicine industry, which is already in crisis due to escalating prices of raw materials, has been badly hit by the increase in GST. Post-GST, all [...]

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  • ITC Claim in gst via trans-1 so far

GST: Tax department to probe Rs 65,000 crore credit claims of traders

September 16th, 2017|0 Comments

Transitional credit claims worth Rs 65,000 crore received from traders under GST have stumped the government and the tax authorities are now preparing to check the veracity of claims of over Rs 1 crore. The [...]

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  • gst rates and rules in gst council meeting

GoM meet in Bengaluru tomorrow to look into GST Network glitches

September 16th, 2017|0 Comments

A group of ministers headed by Bihar Deputy Chief Minister Sushil Kumar Modi appointed to look into the glitches of GST Network will hold its first meeting in Bengaluru tomorrow, a senior official of the [...]

  • 16607
  • Traders protest against gst

Traders threaten strike if return filing under GST not made simpler

September 15th, 2017|0 Comments

The Poona Merchants' Chamber said a nationwide traders' strike is inevitable if the Union government does not iron out difficulties in filing goods and services tax (GST) returns or clear confusions its tax slabs. Office-bearers of the [...]

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  • haryana gst bill

Haryana to set up scrutiny panel on GST benefits

September 15th, 2017|0 Comments

The Haryana government today said it has decided to constitute a two-member scrutiny committee to determine whether reductions in tax rates post rollout of GST have been passed on to consumers. A decision to this [...]

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  • Unregistered Restaurant GST Bill

GST `indigestion’ hurts diners and eateries

September 15th, 2017|0 Comments

It has been two-and-a-half months since the country logged on to the GST regime. While several other sectors, which migrated to the new regime, have adjusted to its dynamics, confusion reigns in the hospitality sector.There is no [...]

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