Page 42 - Gst

18% GST likely on back-end IT services as they don't qualify as export

The move will have consequences for service providers in back-end services and post-sales support, among others

GST collection of states rises to Rs 5.18 trillion in FY19: FM Sitharaman

In a written reply to a question in the Lok Sabha, Sitharaman said concerted efforts have been made to improve tax compliance

Sitharaman's first Budget gives breather for delay in payments towards GST

The current mechanism of filing returns is being replaced by simplified forms that would come into operation in phases

Sitharaman says tax targets achievable, GST collections could rise: Report

GST collections fell below Rs 1 trillion ($14.59 billion) for the first time in the current fiscal year in June, projecting weak consumer demand

Former CEA Arvind Subramanian defends stance on GDP overestimation

The former CEA said that India had sustained high growth rate after 2011

Two years of GST, in facts and figures: 280 mn returns filed till June 2019

GST was rolled out on July 1, 2017

Number of real estate developers in top 9 cities halved after note ban

Demonetisation, RERA and GST have helped consolidation in the sector

GST amendments via Finance Bill: A cheeky run by Modi government

The government seems well within its ambit to amend the law through the Finance Bill

An incomplete agenda: Many indirect tax changes but basic reforms left out

Changes made only to Customs as GST can get no tweaks in Budget, but some indications were given about improvements in procedure

Budget 2019: Taxpayer-friendly GST regime, says Sumit Dutt Majumder

Nirmala Sitharaman has done well in summing up certain critical decisions of the council on GST

Sitharaman reduces FY20 GST collection estimate by 13% to Rs 6.63 trillion

Sitharaman slashes FY20 forecasts by 13% from Goyal's February Budget Estimates

Budget 2019: Rs 350 cr allocated for interest subvention for MSMEs

FM also says country needs to make structural reforms to achieve $5 trillion economy in the next few years

Sanitaryware industry urges Centre to cut GST to 5%, help improve hygiene

The manufacturers hoped that the Union Budget, which is slated to be presented on Friday, would pave the way for the GST Council to take the measure

States' GST revenue takes bigger hit than Centre's in April-June

This happened largely because of slowing growth in the economy and the settlement of a higher proportion of IGST towards the Centre than the states in particular

Top events today: New train timings, GST anniversary, RTGS charges, & more

From new Indian Railways train timings to GST anniversary, here are some of the most important news events scheduled for today

GST rates distortionary, procedures complicated: Bengal FM Amit Mitra

Mitra said the peak rate of 28% should be completely abolished

GST collection falls below Rs 1-trillion mark, first time in four months

Govt might push data intelligence, crackdown on evasion to boost collections

GST benefits will start accuring to economy in the coming yrs, say experts

The goods and service tax (GST), which was launched two years ago, has stabilised quicker than expected and its benefits will accrue to the economy in the years to come, say experts on Monday. Experts further said the way the GST Council has functioned by taking every decision on the basis of consensus suggests that the Centre and the states are on the same page when it comes to GST, which augurs well for its further movement. The indirect tax reform was rolled out two years ago on the midnight of June 30 and since then, the government has decided to celebrate July 1 as the GST Day. "The GST has stabilised quicker than expected and its benefits will accrue to the economy in the years to come," V Lakshmikumaran, founder and managing partner of Lakshmikumaran & Sridharan, said. "Software and IT (information technology) glitches are getting remedied quickly", he said while commenting on the two years of the GST roll-out. He further said benefits of the GST such as higher economic ...

GST Council cracks the whip on profiteering, okays Aadhaar for registration

Date for filing annual returns extended by two months to August 30

Two years of GST: New tax return system, refund mechanism from today

Kicking off celebration to mark two years of the GST implementation, the finance ministry will on Monday come up with further reforms in the indirect tax system with introduction of new return system, rationalisation of cash ledger system and a single refund-disbursing mechanism, among others. Minister of State for Finance and Corporate Affairs Anurag Thakur will preside over the event alongside key secretaries and officials of various departments, the finance ministry said in a release on Sunday. The introduction of GST was a game changer for the Indian economy as it has replaced multi-layered, complex indirect tax structure with a simple, transparent and technology-driven tax regime, it said. The ministry said it will introduce the new return system on a trial basis from July 1 and on mandatory basis from October 1. "Sahaj & Sugam returns for small taxpayers are proposed," it said. With regards to single cash ledger, the government will rationalise the ledger in such a manner ..