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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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Last day for pre-GST sale; here are the discounts on Myntra, Flipkart, Amazon, Snapdeal

Last day for pre-GST sale; here are the discounts on Myntra, Flipkart, Amazon, Snapdeal

Fri, Jun 30, 2017

From Myntra to Flipkart, Amazon and Snapdeal are offering their top deals and discounts on the last day of their pre-GST sale.

Here are 22 most asked questions about GST answered

Here are 22 most asked questions about GST answered

Fri, Jun 30, 2017

Despite the launch of the GST rates some time back there are several questions in people's minds about GST and the specifically about the rates.

A final check: How GST impacts your toothpaste to your car purchase

A final check: How GST impacts your toothpaste to your car purchase

Fri, Jun 30, 2017

With the GST rollout at the stroke of midnight tonight here is how it will impact your business, industry and even your household finances.

Despite giving tax relief for small hybrid cars auto companies raised prices: Arun Jaitley

Despite giving tax relief for small hybrid cars auto companies raised prices: Arun Jaitley

Thu, Jun 29, 2017

Arun Jaitley said many of the car companies had not passed on the earlier tax relief for hybrid cars on to customers and was a reason they had taken the step to increase the GST rates for hybrid cars.

GST: Retailers Association of India demand tax free packaged foodgrains, simpler invoice formats

GST: Retailers Association of India demand tax free packaged foodgrains, simpler invoice formats

Wed, Jun 28, 2017

Retailers Association of India wrote letters to the government asking them to revise the rates on packaged foodgrains downward to be completely tax free. The retailers body has also asked for simplified invoicing formats and revision of delivery charges under GST.

Consumer durables sales increase up to 100% during pre-GST discounts

Consumer durables sales increase up to 100% during pre-GST discounts

Wed, Jun 28, 2017

Retailers that cut their losses and offered consumer durable products on sale with up to 50% discounts have now seen an increase in pre-GST sales. The sales of the retailers have increased 100% YoY with GST rollout being two days away.

Ready or not, Indian businesses brace for biggest-ever tax reform

Ready or not, Indian businesses brace for biggest-ever tax reform

Wed, Jun 28, 2017

Businessman Pankaj Jain is so worried about the impending launch of a new sales tax in India that he is thinking of shutting down his tiny textile factory for a month to give himself time to adjust.

'War room' set up to deal with GST crises

'War room' set up to deal with GST crises

Tue, Jun 27, 2017

Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna told PTI today that the unit will act as a quick resource centre for central and state government officials to address their queries on the historic tax reform scheduled to be implemented from July 1.

Natural gas may be included in GST, to benefit ONGC

Natural gas may be included in GST, to benefit ONGC

Tue, Jun 27, 2017

Currently, crude oil, petrol, diesel, jet fuel or aviation turbine fuel (ATF) and natural gas are not included in the new indirect tax structure, which is set to kick in from July 1.

TCS under GST would have slowed down e-commerce, economic growth, job creation, says FICCI

TCS under GST would have slowed down e-commerce, economic growth, job creation, says FICCI

Tue, Jun 27, 2017

FICCI says that the TCS provision under GST would have led to a slowdown in e-commerce, economic growth and job creation as it would have a direct impact on sellers on these platforms.

GST: Banks & insurance companies want you to save money by prepaying premiums, should you?

GST: Banks & insurance companies want you to save money by prepaying premiums, should you?

Tue, Jun 27, 2017

Customers currently pay 15% service tax for financial services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and Value Added Tax. Financial services and telecom have been put in the 18% GST slab.

Are you ready to file 37 tax returns under GST regime? All your questions answered

Are you ready to file 37 tax returns under GST regime? All your questions answered

Tue, Jun 27, 2017

Touted as India's biggest tax reform -- the Goods and Services Tax (GST) -- is all set to be rolled out from 1st July 2017.

MHCV revival in demand to be delayed as govt leaves out truck transporters out of GST registration

MHCV revival in demand to be delayed as govt leaves out truck transporters out of GST registration

Mon, Jun 26, 2017

The government has given truck transporters a relief from the GST registration which would lead to delay in consolidation in the industry and would also delay MHCV demand.

GST rollout: Registration window reopens for 3 months, here's how you can do it

GST rollout: Registration window reopens for 3 months, here's how you can do it

Mon, Jun 26, 2017

GST Network, the company which is providing information technology systems for GST, has once again opened registration for assessees on Sunday.

Job market eyes GST booster for over 1 lakh immediate openings

Job market eyes GST booster for over 1 lakh immediate openings

Sun, Jun 25, 2017

The job market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.

Market outlook: Caution over GST, derivatives expiry to affect equities

Market outlook: Caution over GST, derivatives expiry to affect equities

Sun, Jun 25, 2017

Derivatives expiry coupled with crude oil prices and direction of foreign funds` movement are expected to affect the equity charts during the upcoming week.

GST switchover: Renaming CBEC as CBIC may take a while

GST switchover: Renaming CBEC as CBIC may take a while

Sun, Jun 25, 2017

Rechristening the Central Board of Excise and Customs (CBEC) may not come about immediately as the revenue department may introduce amendments to at least five Acts only in the upcoming monsoon session next month.

GST rollout: Here's how much more premium you need to pay on insurance policies

GST rollout: Here's how much more premium you need to pay on insurance policies

Thu, Jun 22, 2017

Customers currently pay 15% service tax for financial services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and Value Added Tax. Financial services and telecom have been put in the 18% GST slab.

GST could make your movie going experience cheaper

GST could make your movie going experience cheaper

Thu, Jun 22, 2017

With GST coming in multiplexes will get a break primarily due to the input tax credit offered by the new tax regime and as a result could pass on the lower tax benefits to customers.

GST rollout: Know about form GSTR-3B for filing tax returns

GST rollout: Know about form GSTR-3B for filing tax returns

Wed, Jun 21, 2017

Goods and Service Tax (GST) regime is set to rollout in less than two weeks. Finance Minister Arun Jaitley has said that the new tax structure will be launched on midnight of June 30 at Central Hall of Parliament.

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