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Goods and Service Tax

Tax collections to continue rising trend in coming months on higher compliance, increased corporate profitability: Experts

Tax collections to continue rising trend in coming months on higher compliance, increased corporate profitability: Experts

Sun, Sep 25, 2022

The gross direct tax collection grew 30 per cent to Rs 8.36 lakh crore in the April to mid-September period of the current fiscal on increased corporate tax and personal income tax (PIT) mop up due to increased economic activity.

GST on Rent of residential property, commercial property: All scenarios where this indirect tax is applicable

GST on Rent of residential property, commercial property: All scenarios where this indirect tax is applicable

Wed, Aug 17, 2022

GST on Rent: The Goods and Services Tax (GST) on rent has been implemented with effect from 18 July. But the GST will apply only in certain conditions and not in all cases. The government recently withdrew exemption on renting of residential dwelling to business entities

Stock exchanges, persons dealing in securities market to pay 18 % GST on Sebi's fee

Stock exchanges, persons dealing in securities market to pay 18 % GST on Sebi's fee

Mon, Jul 18, 2022

GST Council last month recommended to withdraw the exemption granted to services by Sebi and the same was notified on July 13.

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Jaitley looks to break deadlock at GST meeting tomorrow

Jaitley looks to break deadlock at GST meeting tomorrow

Sun, Jan 15, 2017

Finance Minister Arun Jaitley will tomorrow look to break the deadlock over distribution of powers between centre and states to administer GST, an issue that is holding up launch of the new national sales tax from April.

Clarity on GST, manufacturing, digital push: Tech companies' Budget 2017 wishlist

Clarity on GST, manufacturing, digital push: Tech companies' Budget 2017 wishlist

Fri, Jan 13, 2017

More clarity on the goods and service tax (GST) and especially which slab their product(s) will be placed is something that all technology companies are looking forward to from Budget 2017.

Hope to resolve issues for GST rollout from April 1: Jaitley

Hope to resolve issues for GST rollout from April 1: Jaitley

Wed, Jan 11, 2017

With states and the Centre still locked in stalemate over control of tax payers, Finance Minister Arun Jaitley today said the issue will be resolved in next few weeks for rollout of the GST regime from April 1.

Government may lose Rs 25,000 crore if it moves income tax slabs

Government may lose Rs 25,000 crore if it moves income tax slabs

Wed, Jan 11, 2017

Finance Minister, Arun Jaitley’s stance on levying income tax stands to be ‘making taxation more reasonable;’ however, this could cost the government Rs 25,000 crore in FY18.

Nifty to hit 9,000-mark by Diwali; to dole out 12-14% returns

Nifty to hit 9,000-mark by Diwali; to dole out 12-14% returns

Tue, Jan 10, 2017

Leading retail brokerage firm HDFC Securities today said that benchmark Nifty index is expected to hit 9,000 level by Diwali and is also likely to generate double digit returns at 12-14 per cent, this year.

PM Modi to inaugurate Vibrant Gujarat Summit today

PM Modi to inaugurate Vibrant Gujarat Summit today

Tue, Jan 10, 2017

Jaitley will address a special session on January 11 on GST to detail rollout plans for the indirect tax regime.

Quoting of PAN card number now mandatory for bank accounts

Quoting of PAN card number now mandatory for bank accounts

Sun, Jan 08, 2017

The government on Sunday announced amendments to the Income-tax rules that banks need to obtain and link PAN card numbers to all existing accounts.

PAN a must for excise, service taxpayers for GST registration

PAN a must for excise, service taxpayers for GST registration

Sun, Jan 08, 2017

The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.

GST roll out possible in September; next meet on Jan 16, says Kerala FM

GST roll out possible in September; next meet on Jan 16, says Kerala FM

Wed, Jan 04, 2017

The meeting was chaired by Finance Minister Arun Jaitley.

GST rate on polluting items may be higher, Jaitley says

GST rate on polluting items may be higher, Jaitley says

Fri, Oct 14, 2016

"The USD 100-billion number has been talked about for the past 10 years and there is very little pressure from the domestic constituencies in the advanced economy countries, including the media. This is part of a grand bargain and if you keep on undermining this, I think people will walk away from the table at some point," Patel said.

India jumps 16 places on Global Competitive Index, up 32 places in two years

India jumps 16 places on Global Competitive Index, up 32 places in two years

Wed, Sep 28, 2016

India climbed 16 places to rank 39th among the 138 countries on the Global Competitive Index of the World Economic Forum (WEF).

GST Council finalizes exemption limit at Rs 20 lakh

GST Council finalizes exemption limit at Rs 20 lakh

Fri, Sep 23, 2016

In its second meeting, the GST Council finalized the threshold for exemption limit for the application of Goods and Service Tax (GST) for states at Rs 20 lakh.

Organised jewellery retailers to witness 10-12% revenue growth in FY17: India Ratings

Organised jewellery retailers to witness 10-12% revenue growth in FY17: India Ratings

Tue, Sep 06, 2016

Organised jewellery retailers are likely to witness a 10-12% topline growth in this financial year mainly on account of higher number of weddings coupled with less obstacles on the regulatory front which will drive volumes, India Ratings and Research (Ind-Ra) said.

GST: Tax rates that other countries charge

GST: Tax rates that other countries charge

Wed, Aug 03, 2016

The Goods and Service Tax (GST) Consitutional Amendment was finally passed after 16 years as the Rajya Sabha voted in favour of it on Wednesday. The bill was unanimously passed by the members of the house.

16 years in making: Rajya Sabha passes GST Bill, finally

16 years in making: Rajya Sabha passes GST Bill, finally

Wed, Aug 03, 2016

The much awaited GST bill has finally been passed by the Rajya Sabha on Wednesday with a unanimous vote in favour of the bill. The GST bill that seeks to amend the constitution was a matter of long standing debate in the Rajya Sabha.

GST implementation: Way forward for India’s biggest tax reform

GST implementation: Way forward for India’s biggest tax reform

Tue, Aug 02, 2016

The fate of India’s biggest tax reform since 1947 is still hanging in the balance, and is expected to be cleared by the Rajya Sabha on August 3. The GST bill was passed in the Lower House of the Parliament in 2015 and its approval process is nothing less than complicated.

GST rollout from April 1 if law passed in next session: Sinha

GST rollout from April 1 if law passed in next session: Sinha

Mon, Jun 13, 2016

Targeting April 2017 for the rollout of Goods and Services Tax (GST), the government is betting on support from smaller regional parties to pass the national sales tax legislation in the Parliament session from next month, and expects approval for supporting laws by year-end.

Increasing spending in infra, rural India to be focus areas in next few years: Arun Jaitley

Increasing spending in infra, rural India to be focus areas in next few years: Arun Jaitley

Tue, Apr 19, 2016

Finance Minister Arun Jaitley outlined the steps that government will take such as bankruptcy law, arbitration laws, amendment of Companies Act, implementation of GST bill

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