Page 65 - Gst

A big relief

GST Council should act fast and do more

Small traders, restaurant owners set to get fresh GST relief

Panel wants increase in composition scheme threshold to Rs 1.5 crore; reduction in rate and allowing interstate supply

GST: NPCI, NSDL in fray to develop e-wallet for exporters

The government is yet to decide on the agency that will develop the notional credit system to help exporters with working capital flow

Is GST paid on vehicles for office purpose eligible for input tax credit?

If the motor vehicle is used by you for any of the aforesaid purposes, you should be eligible to claim the input tax credit, otherwise not

GST helps Marg ERP see jump in revenues in Q2

The firm attributed hike in revenues to its GST-enabled and inventory, billing and accounting software

Apparel Export Promotion Council flags post-GST issues before Par panel

AEPC suggested that the competitive exchange rate and rupee appreciation be stabilised to protect the interest of exporters

GST has not helped garment exports: Traders to Parliamentary committee

--Drop the pointer table---Garment exporters have told Parliament's standing committee on commerce that they are yet to see any benefit from the Goods and Services Tax (GST), with no decrease in input costs.A delegation of the Apparel Export Promotion Council (AEPC) also said shipments might dip in the globally competitive market. Bangladesh and Vietnam, for instance, have cost advantages on account of preferential trade agreements with major export markets and buyers are moving to these destinations for sourcing. As a result, they have warned, they might be forced to shed jobs. GST's compliance requirements, they've complained, has strained their time and cost resources. "The overall effect on apparel exporters, especially small and medium ones (MSMEs), is burdensome and stressful due to substantial increase of working capital and higher transaction cost. MSMEs have to recruit the services of chartered accountants to manage GST payments and refunds," said Ashok Rajani, chairman of ...

GST a gamechanger for economy, teething troubles expected: DIPP official

The official observed that while everyone was in favour of low indirect taxes, the revenue generation also needs to be factored in by the policymakers

Businesses can now cancel registration on GSTN portal

Businesses which have migrated to the GST regime but wish to cancel their registration can do so now on the GSTN portal. The utility named 'Cancellation of Registration of Migrated Taxpayer' has been launched today on the GST Network (GSTN) portal, its CEO Prakash Kumar said today. There are over one crore registered taxpayers in Goods and Services Tax (GST) regime. These include over 72 lakh businesses which have migrated from the earlier excise, service tax or VAT regime, and 28 lakh fresh registrations. "Migrated businesses with turnover up to Rs 20 lakh who have not issued invoice can cancel their registration on the portal now," Kumar said. The utility REG 29 is available on the portal just below the profile section once a taxpayer logs into GSTN. Since only over 50 lakh businesses on an average file returns every month, it is felt that there would be many businesses which do not need to file return and pay taxes under GST regime, which kicked in from July ...

GST collections rise to Rs 92,150 crore in September

These were marginally lower by Rs 133 crore than Rs 92,283 crore in July

Taxing times

GST seems to have translated into "good sensible torture" for taxpayers

Inter-state supply may come under GST composition

A ministerial panel is expected to finalise the contours of the revised structure in its next meeting on Sunday

GST harassment

The revenue secretary has admitted that it would take a year's time to stabilise the system

Saving the GST

Overhaul of procedures and rate rationalisation will help

GST will remain a 'Good and Simple Tax', says Union Minister Naqvi

GST is a major reform to make country's economy better and to make small, medium and big businesses easy: Naqvi

When exemption rules crimp operating leeway

Before introduction of GST, import of capital goods could be made under EPCG authorisation without payment of basic customs duty and additional duty

GST machinery still unrolling

For August and subsequent months, the facility of filing GSTR-1 has not been made available as yet by the GSTN

GST: What is the procedure to be followed in case of a sale return?

At the time of undertaking a sale transaction, the supplier must issue a tax invoice charging applicable GST

GST dents Diwali biz of Surat textile units, sales 15-20% of typical season

The impact of GST has led to orders drying up this year, especially from north and central India wholesalers this season

Exporters yet to receive GST refunds despite govt's reassurances

Were promised payments from October 10, but the wait continues