Page 100 - Gst

Electrical accessory firms seek 12% GST levy, not 28%

Almost 95% of such units are of small scale and do not pay central excise duty

Govt to increase revenue without hiking tax rates, says Hasmukh Adhia

Scope for rationalisation of GST rates, says Hasmukh Adhia

GST: Restaurants, hotels keep shutters down in South

Some makeshift food joints remained open in TN, Kerala, Andhra Pradesh, Telangana and Karnataka

GST: State revenues to rise by Rs 40,000 cr, says Standard Chartered

The total revenue gain at the aggregate level translates to around 0.2 to 0.3% of GDP

GST: Amusement park industry urges lowering of tax rate

Amusement park industry is kept 28% tax slab under GST

Tamil Nadu hotels, eateries shut shop over GST rates, other states join

The one-day bandh declared by the Tamil Nadu Hotels and Restaurants Association and backed by the South Indian Hotels and Restaurants Association (SIHRA), has seen the food outlets closed down across Tamil Nadu, with restaurants and hotels from other States including Kerala, Andhra Pradesh, Telengana and Karnataka participating.The shut down is to protest the centre's move to levy tax in a range of 12 to 28 per cent for the sector. Most of the hotels and restaurants in Chennai were closed on Tuesday, in line with the bandh call from 6 am to 6 pm. Some of the make shift food joints, however, worked as usual, to the reloef of a section of customers.Hotels and restaurants in Kerala, Andhra Pradesh, Telengana, Puducherry and some parts of Karnataka has also been closed down to support the protest, said M Venkada Subbu, president, Tamil Nadu Hotels and Restaurants Association."Almost 5 lakh shops including hotels, restuarants, bakeries, large food joints across six states has been shut ...

GST unveiled: Warehousing industry to see reorganisation

Warehouses will move to consumption-and-transportation network areas

Textiles industry urges govt to continue rebate on state levies post GST

The textile industry has urged the government to continue with the Rebate of State Levies (ROSL) scheme under the Goods and Services Tax (GST) for the benefit of made up exports.The ROSL scheme was introduced in March 2017 initially for three years. But, the industry fears that the scheme will be withdrawn prematurely, being the GST subsuming all other taxes and benefits. Under the ROSL, exporters of made ups get incentives of 3.9 per cent of the value of exported goods.The ROSL benefit not only made Indian made ups competitive in the world markets but also encouraged Indian players to add more capacity to meet the overseas demand. "When the scheme was introduced, many small, medium and large size companies started working on capacity expansions. A number of companies are currently in various stages of capacity expansions despite being the scheme just three-month old," said Ujwal Lahoti, Chairman of The Cotton Textiles Export Promotion Council (Texprocil).The objective of this scheme .

GST rollout: StanChart sees state revenues increasing by Rs 45,000 crore

West Bengal. Punjab and four other states seen as the biggest beneficiaries of the new tax regime

India rides on consumer spending revival ahead of GST roll out

With a good monsoon and govt pay hikes in prospect, outlook for a sustained recovery looks good

12-hour bandh: Hotels, restaurants in South India are protesting GST rates

In Tamil Nadu alone, around 2 lakh food outlets were closed causing a loss of around Rs 150 cr

GST: Tata Steel can sell Kalinganagar products beyond Odisha

The roll out of the Goods & Service Tax (GST) scheduled from July 1 this year spells good news for Tata Steel. With the introduction of the new taxation system, the steel firm can sell finished steel products manufactured at its Kalinganagar steel mill in Odisha outside the state.Tata Steel was bound by a memorandum of understanding (MoU) signed with the Odisha government in November 2004 to sell finished products from its Kalinganagar products within the state. The restrictive clause, however, was not applicable to exports of finished products outside the country.The Kalinganagar steel plant started commercial operations in May 2016. Since then, its products like Tata Ferroshots and HR (hot rolled) coils made by the unit were exported, mainly to South East Asian nations. The finished steel products could not be sold within Odisha as the state lacked downstream industries to absorb such products. Though Odisha has a nameplate capacity of 21 million tonne (mnt) annually in steel ..

GST first federal product of India: Finance minister Arun jaitley

> Union Finance Minister Arun Jaitley said Goods and Services Tax (GST) would be India's first federal product (policy) and the GST Council the first federal institute where the Centre and States decide their policies in coordination. GST, the unified indirect taxation system, is slated to be rolled out from July 1. The GST Council, which headed by Jaitley and representatives from all the States, finalise the tax rates on different goods and services and it has recently announced four slabs - 5 per cent, 12 per cent, 18 per cent and 28 per cent. These rates are arrived at after merging levies such as central excise, service tax and value added tax into one taxation system. "The new indirect tax (GST) is also a product of federal India. The centre and the States jointly administer it and they jointly decide the taxation policies. In fact, when we decide in the GST Council it is India's first federal institution and therefore coordination between the taxation authorities of the ...

GST: Renegotiation of contracts for engineering firms on cards

Sources said the industry faced issues over input and final product tax computation

GST impact: PC majors HP, Dell look to cash in

Global information technology (IT) and hardware makers HP and Dell are offering customised products to small and medium enterprises for enabling the latter to comply with the requirement of the new goods and services tax (GST) regime.An estimated six million new taxpayers are expected to come on board for GST. HP, the country's largest maker of personal computers (PCs), is offering hardware, GST invoicing software, cloud service, internet connectivity and troubleshooting, in both English and Hindi. It has partnered with consultancy KPMG for software solutions and with Amazon for storage, for files and invoices, on the cloud. It will also offer call centre services for taxation-related queries and other software solutions, for two years."It is part of our endeavour to grow the business with IT automation. The initiative will help small businesses tide over the initial turbulence once GST comes in. We expect to sell 100,000 combo offers in the next six months," Sumeer Chandra, managing .

Real estate, liquor out of GST as influential people run them, says Sisodia

He also said Delhi's revenue will increase as it is servicing and producing state

Solar panel equipment to attract 5% GST, clarifies Hasmukh Adhia

India is targeting 175 gigawatts of renewable energy generation by 2022

Now, all your GST queries will be answered by @askGST_GoI on Twitter

Department of Revenue has opened a new Twitter Handle @askGST_GoI to invite queries from taxpayers

The business of GST decoded

Impact analysis exercise has to involve several departments, including finance, IT, supply chain

Not these GST rates: India Inc pleads govt, requests for a review

In past week, five sectors formally asked govt for a review but this seems unlikely to take place