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Goods and Services Tax (GST)

Maharashtra: High-Security Registration Plate price for vehicles varies from Rs 531 to Rs 879

Maharashtra: High-Security Registration Plate price for vehicles varies from Rs 531 to Rs 879

Wed, Dec 25, 2024

Vehicle owners will have to pay prices ranging from Rs 531 to Rs 879 to affix mandatory High-Security Registration Plates to vehicles registered before April 1, 2019, as per the Maharashtra transport department.

LIC gets GST demand notice of Rs 65 crore

LIC gets GST demand notice of Rs 65 crore

Wed, Oct 30, 2024

The insurer has received communication/ demand order for Goods & Service Tax, Interest and penalty for Jharkhand on October 30, LIC said in a regulatory filing.

GST on term life insurance premium, senior citizen's health coverage may be exempt

GST on term life insurance premium, senior citizen's health coverage may be exempt

Sat, Oct 19, 2024

The final decision in this regard will be taken by the GST Council Officials premiums paid for health insurance coverage of above Rs 5 lakh will continue to attract 18 per cent GST.

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Manufacturing growth: India set to see a slowdown?

Manufacturing growth: India set to see a slowdown?

Sat, Oct 20, 2018

Manufacturing growth as measured by the Index of Industrial Production, eased to 4.6% in August from 7% in July. This was along expected lines, given an unfavourable base effect related to the restocking that was underway in the year-ago period.

FinMin affirms Oct 20 deadline to avail GST ITC for Jul-Mar

FinMin affirms Oct 20 deadline to avail GST ITC for Jul-Mar

Thu, Oct 18, 2018

The ministry said since the ITC is being availed on the basis of summary sales return or GSTR-3B filed, hence the deadline has been kept at October 20. The GSTR-3B of a particular month has to be filed by the 20th day of the subsequent month.

PM Modi: India going through major transformation and economic changes

PM Modi: India going through major transformation and economic changes

Sun, Oct 07, 2018

Prime Minister Narendra Modi on Sunday said India is going through major social and economic changes and the resultant New India will prove to be a catalyst for global growth.

Crackdown! E-way bill issuance: To get it, this thing made mandatory

Crackdown! E-way bill issuance: To get it, this thing made mandatory

Thu, Oct 04, 2018

Tightening the norms for issuance of e-way bill, the GST Network has made it mandatory for businesses and transporters to mention PIN codes of places of loading and unloading of consignments.

Centre, states apportion Rs 29k cr IGST in September

Centre, states apportion Rs 29k cr IGST in September

Mon, Oct 01, 2018

Under GST, the tax levied on consumption of goods or rendering of service is split 50:50 between the Centre and the state. Such tax is known as Central-GST or CGST and State-GST or SGST.

Impact of GST on jobs: Hundreds of thousands laid off despite growth

Impact of GST on jobs: Hundreds of thousands laid off despite growth

Thu, Sep 06, 2018

India launched the Goods and Services Tax (GST) just over a year ago, its biggest ever tax reform, aiming to replace more than a dozen federal and state levies and unify the sprawling economy.

Slash import duty, GST rate on gold, says Niti Aayog

Slash import duty, GST rate on gold, says Niti Aayog

Fri, Aug 24, 2018

In its latest report, the committee headed by Niti Aayog Principal Adviser Ratan P Watal said: "A reduction in the customs duty in the past in India has been argued to support tax compliance coupled with a significant reduction in the quantum of gold smuggled into India.

Sun Pharma first-quarter profit beats estimates as U.S. sales climb

Sun Pharma first-quarter profit beats estimates as U.S. sales climb

Tue, Aug 14, 2018

In the year-ago quarter, Sun Pharma incurred costs of 9.51 billion rupees related to settlements in a U.S. antitrust case over sleep disorder drug Modafinil.

GST rate-cut pause to stay; here is reason why

GST rate-cut pause to stay; here is reason why

Fri, Aug 10, 2018

Remember, the GST Council recently lowered rates on close to 100 products including smaller TVs, refrigerators and washing machines, sanitary napkins and handicraft products. Since the GST regime was first implemented in July last year, rates on 384 products have been reduced but not a single product has seen any rate hike. Lowering rates obviously reduces overall GST collections, at least in the short term.

India on track to stay among fastest growing economies: IMF

India on track to stay among fastest growing economies: IMF

Thu, Aug 09, 2018

IMF mission chief for India Ranil Salgado said the Indian economy at present is like "an elephant starting to run".

New GST rate cut to ease WPI inflation ahead; here's how

New GST rate cut to ease WPI inflation ahead; here's how

Sun, Jul 29, 2018

These new rate cut in GST regime is not a good sign only for industries but also bodes well for WPI inflation which has risen to 15-month high.

GST new rates in effect: Here’s how it will bode well for sectors

GST new rates in effect: Here’s how it will bode well for sectors

Sat, Jul 28, 2018

New GST rates for 100 items are in effect from yesterday on ward. The GST council last week decided to give relaxation to items right from sanitary napkins to electronic products, and had stated that the new changes will take place from July 27.

TVs, fridges, shoes turn cheaper; this is who will benefit most

TVs, fridges, shoes turn cheaper; this is who will benefit most

Mon, Jul 23, 2018

The GST Council on Saturday cut tax rates on 88 items, including footwear, refrigerator, washing machine and small screen TV, while the widely demanded sanitary napkins have been exempted from the levy.

GST annual returns forms: Experts expect reconciliation with Income Tax Returns

GST annual returns forms: Experts expect reconciliation with Income Tax Returns

Sun, Jul 08, 2018

Goods and Services Tax (GST) was rolled out on July 1, 2017, and this is the first year when businesses will have to file annual returns (GSTR-9) for 2017-18 fiscal by December 31, 2018. Also those businesses with turnover of more than Rs 2 crore will have to file audit reports along with the annual returns.

Goyal urges traders to expose tax evaders

Goyal urges traders to expose tax evaders

Sat, Jul 07, 2018

During an interaction with traders here, Goyal said that the goods and services tax (GST) has brought all the sections at the same level, an official release said.

One year of GST: Impact on common man

One year of GST: Impact on common man

Sun, Jul 01, 2018

Single and transparent tax proportionate to the value of goods and services: Due to multiple indirect taxes being levied by the Centre and State, with incomplete or no input tax credits available at progressive stages of value addition, the cost of most goods and services in the country today are laden with many hidden taxes. Under GST, there would be only one tax from the manufacturer to the consumer, leading to a transparency of taxes paid to the final consumer.

How many GST rates are there? Find out

How many GST rates are there? Find out

Thu, Jun 28, 2018

Far from being one tax, one nation, GST today has multiple rates

Big demand! Scrap 28% GST, says Arvind Subramanian

Big demand! Scrap 28% GST, says Arvind Subramanian

Thu, Jun 28, 2018

Arvind Subramanian was appointed as CEA, finance ministry, on October 16, 2014 for a 3-year term and was given an extension last year.

Abolish IGST to make tax system effective: Sisodia

Abolish IGST to make tax system effective: Sisodia

Wed, Jun 27, 2018

Sisodia said the Goods and Services Tax (GST) was first conceptualised as one nation, one tax' but with five tax slabs, it has come out as one nation, several taxes'. He said he had opposed Integrated GST (IGST) from the beginning and had suggested sticking with only Central GST and State GST.

GST collection not-so-encouraging, says this panel

GST collection not-so-encouraging, says this panel

Sat, Mar 10, 2018

GST collection: Parliamentary panel observed that the frequent revisions in rates have affected the regime stability, with adverse impact on trade and business

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