Under GST, telcos have to pay an 18% levy but can claim input tax credit
Dealers have been told that loss due to transition to GST would be protected by manufacturers
New registration window opens from June 1
All goods and services have been classified into groups attracting rates of 5, 12, 18 and 28%
It's advisable to ascertain a vendor's compliance rating before commencing transactions, writes Mani
Begin by examining if your contract price is tax extra or inclusive of taxes, writes Bhattacharjee
The audit by the tax authorities is envisaged under Section 65 of the Central GST Act
GST Council has not fixed tax rate for transfer/sale of duty credit scrips or authorisations/licence
The rates have allayed fears that the GST would be inflationary in the short term
Govt has been urged to revisit tax structure
GST Council had put over 1,200 goods and 500 services in four tax slabs of 5, 12, 18, 28%
The shift from "one country, one tax" to four tax rates could dilute possible gains on GDP
The effective coal prices for the consumers are likely to decrease by Rs. 100-150, as the country heads towards a uniform tax regime under the Goods and Services Tax (GST).Preliminary estimates done by Coal India suggest that the coal consumers were effectively charged 11-11.5 per cent for the coal procurement which is going to decrease to five per cent under the new tax rules. Moreover, the stowing cess of Rs. 10 per tonne, paid by coal consumers, in addition to the effective value added tax (VAT) and excise duty rates will be done away with. Nevertheless, the additional cess of Rs. 400 per tonne will continue to remain in place.A Coal India official said that although the company will be appointing a consultant to "deeply understand and analyse the financial implications on the company", internal estimates suggest that prices are going to reduce."Although the net effect on the company is yet to be understood, Coal India's revenue will not take any hit as the tax was passed on the ...
Both sets of tax rates for goods and services are confusing
PVR Chairman Ajay Bijli said that there is a huge diversity in entertainment taxes levied in India
As on April 30, Coal India's pithead stock was at 61.9 million tonnes
Termed as the most ambitious tax reform, GST will subsume most of the indirect taxes
GST will bring lot of transparency in gold industry including check on illgeal imports: WGC official
Measures to help improve productivity dynamics and lay the foundation for sustainable growth
Expense ratio is measure of cost incurred by an investment company to operate its mutual fund