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India 360: Government's coffers are filling during the festive season, GST collection increased

India 360: Government's coffers are filling during the festive season, GST collection increased

Thu, Nov 02, 2023

Cover Story: There is bumper demand all around during the festive season, and the government's coffers are getting filled as GST collection is increasing significantly.

GST collections rise 13% to Rs 1.72 lakh crore in October

GST collections rise 13% to Rs 1.72 lakh crore in October

Wed, Nov 01, 2023

GST October collections: The government's GST collections increased 13 per cent on a year-on-year basis last month, according to official data released on Wednesday.

GST Amnesty scheme: What is it? How can you benefit from it?

GST Amnesty scheme: What is it? How can you benefit from it?

Sat, Aug 26, 2023

Late filing of annual returns under GSTR-10 has been reduced to Rs 1,000 if filed on or before the last date.

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RBI may cut repo rate by 25 basis points in February: HSBC report

RBI may cut repo rate by 25 basis points in February: HSBC report

Fri, Jan 13, 2017

With uncertanity over implementation of GST, rising crude oil prices and the challenging 4% CPI in medium term, Reserve Bank of India (RBI) may cut repo rate for the final time by a 25 basis points (bps) in the February policy, says a report.

GJEPC expects FM Arun Jaitley to reduce import duty on gold to 5% in Budget 2017

GJEPC expects FM Arun Jaitley to reduce import duty on gold to 5% in Budget 2017

Thu, Jan 12, 2017

To curb grey market and boost the organised players, the Gem and Jewellery Export Promotion Council (GJEPC) is expecting Finance Minister Arun Jaitley to reduce the import duty on gold to around 5%in the upcoming Union Budget.

India to see lower GDP growth for two quarters on cash crunch: HSBC

India to see lower GDP growth for two quarters on cash crunch: HSBC

Thu, Jan 12, 2017

India's GDP growth numbers are expected to see a decline of 2% in the third and fourth quarters of the current fiscal, as effective currency in circulation has contracted significantly, says an HSBC report.

Demonetisation impact: World Bank drops India's growth rate to 7%

Demonetisation impact: World Bank drops India's growth rate to 7%

Wed, Jan 11, 2017

Infrastructure spending should improve the business climate and attract investment in the near-term.

Reforms in India to boost medium term growth: Moody's

Reforms in India to boost medium term growth: Moody's

Tue, Jan 10, 2017

In a statement, Moody`s Investors Service said the capacity of governments to implement measures and the effectiveness of policies in achieving the respective governments` objectives would shape the sovereigns` credit profiles over the coming year.

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman

Tue, Jan 03, 2017

Commerce and Industry Ministry on Tuesday asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax (GST) and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab.

India Inc seals $52 billion M&As in 2016; eyes bigger deals in 2017

India Inc seals $52 billion M&As in 2016; eyes bigger deals in 2017

Thu, Dec 22, 2016

"The M&A activity in 2017 is expected to stay positive owing to continued interest of financial and strategic investors in the Indian economy. Sectors like technology, life sciences and financial services are expected to attract significant investor attention in 2017," said Ajay Arora, Partner, Transaction Advisory Services, EY.

GST can be rolled out anytime between April 1 to September 16: Arun Jaitley

GST can be rolled out anytime between April 1 to September 16: Arun Jaitley

Sat, Dec 17, 2016

Amid signs of slippage of the April 1 GST rollout target, Finance Minister Arun Jaitley said on Saturday ending resolution of "turf" issues, GST is a transactional levy that unlike income tax can be implemented anytime during the year.

Constitutional compulsion to roll out GST before Sept 16, 2017: Arun Jaitley

Constitutional compulsion to roll out GST before Sept 16, 2017: Arun Jaitley

Sat, Dec 03, 2016

Citing constitutional compulsion, Finance Minister Arun Jaitley on Friday sought to drive home the point that the Goods and Services Tax (GST) has to roll out before September 16 next year as the existing indirect taxes will come to an end by then and it would not be possible to run the country w

Centre releases revised drafts of 3 GST laws, to be placed before Council on Dec 2-3

Centre releases revised drafts of 3 GST laws, to be placed before Council on Dec 2-3

Sat, Nov 26, 2016

The revised drafts of three Goods and Services Tax (GST) laws have been released after incorporating suggestions from stakeholders, the government said on Saturday. These will now be placed before the Goods and Services Tax (GST) Council in its next meeting on December 2 and 3.

There should be minimum tax on ayurvedic products: Acharya Balkrishna

There should be minimum tax on ayurvedic products: Acharya Balkrishna

Fri, Nov 04, 2016

After the GST Council fixed the tax rates on various products on Thursday, Patanjali Ayurved's chief executive officer Acharya Balkrishna told Zee Business that there should be minimum tax on ayurvedic products.

GST to be less regressive with lower tax band at 5%: Experts

GST to be less regressive with lower tax band at 5%: Experts

Fri, Nov 04, 2016

A zero tax on daily necessities as well as lower rate of 5% for items of mass consumption will make the new Goods and Services Tax (GST) regime, to be rolled out from April next year, less regressive, tax experts said.

Hike GST rate by 1 to 2%, do not levy cess, says Assocham to FM Jaitley

Hike GST rate by 1 to 2%, do not levy cess, says Assocham to FM Jaitley

Wed, Nov 02, 2016

Industry chamber Assocham has made a pitch to Finance Minister Arun Jaitley not to levy cess, but hike GST rate by 1 to 2% to garner additional resources to compensate states for any revenue loss on rollout of the new regime from April next year.

GST Council to take final decision on tax rate on October 19

GST Council to take final decision on tax rate on October 19

Wed, Oct 19, 2016

The decision on the Goods and Services Tax (GST) rates, which will have four slabs, will be taken on Wednesday by the GST Council that kicked off its three-day meeting on Tuesday. On Tuesday, the GST Council reached a consensus on state compensation and the base year will be 2015-16.

ClearTax to foray into IT return filing in GST regime, to launch app

ClearTax to foray into IT return filing in GST regime, to launch app

Sun, Oct 02, 2016

To help clear confusion over return filing and tax planning under the impending GST regime, online tax filing portal ClearTax will act as an advisor to traders and businesses, assisting them in filing returns.

GST Council agrees on 5 areas; differ over decisions taken in first meeting

GST Council agrees on 5 areas; differ over decisions taken in first meeting

Fri, Sep 30, 2016

In signs of fracture, the Centre and states on Friday disagreed on decisions reached at the first meeting of the GST Council on service tax assessment although they reached a consensus on area based exemption in the new tax regime.

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tue, Sep 27, 2016

Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

GST Council to finalise registration, other rules on September 30

GST Council to finalise registration, other rules on September 30

Mon, Sep 26, 2016

Moving on fast track to meet the April 2017 GST rollout deadline, the tax department on Monday came out with draft rules relating to registration, invoice and payment which will be finalised by the GST Council on Friday.

Tax dept unveils 3 draft rules for registration under GST

Tax dept unveils 3 draft rules for registration under GST

Mon, Sep 26, 2016

In less than a week after the first meeting of the GST Council, the tax department on Monday came out with three draft rules and their formats relating to registration, invoice and payments which would be finalised by week-end.

States happy with outcome of GST Council's first meeting

States happy with outcome of GST Council's first meeting

Fri, Sep 23, 2016

Left-ruled Kerala on Friday sought a decision on the formula for compensating states for any loss of revenue post goods and services tax (GST) before a rate is decided even as most others hailed the decisions taken at the first Centre-State council meeting on the new tax regime.

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