Page 67 - Gst

Over 20 lakh biz due to file final GST returns in 6 days

The final GSTR-3, matching GSTR-1 and 2, is to be filed by November 10

No relief for telcos in September quarter

The revenues of top telecom operators are expected to decline four-eight per cent sequentially in the September quarter (Q2), belying hopes of a recovery. Following a six-seven per cent sequential fall in two quarters (December and March), revenues had stabilised in June quarter (Q1), growing 0.5-0.7 per cent. But, factors such as higher taxes (goods and services tax or GST), seasonal weakness and increased competitive intensity are expected to put more pressure on revenues and operating profits in Q2. The year-on-year fall in revenue is estimated at 16-19 per cent.Given competitive pressures, telcos are likely to have absorbed the hike in the GST at 18 per cent, compared with the earlier service tax of 15 per cent, said Rohit Chordia of Kotak Institutional Equities. This is a negative for the sector, which has been bleeding cash both on operations and capex (capital expenditure) fronts. There was an expectation that consumers at the lower end of the monthly pack spectrum would ...

Towards good and simple

Govt must remove operational hurdles plaguing GST

Slowdown blues: Growth eludes FMCGs on GST, note ban impact

GDP growth for the June 2017 quarter came in at 5.7%, lower than the 6.1% reported in the January-March 2017 period

Yet to file tax returns? EasemyGST app is working to ease compliance burden

SMEs are facing issues because of which there is a delay in compliance by a number of enterprises

GST's maiden quarter: Reviewing one nation, one tax

As the new indirect tax regime completes a quarter, Business Standard looks at the problems filers have faced and the challenges ahead

Deadline to sell pre-GST goods extended by 3 months to Dec 31

After implementing GST from July 1, the government had allowed use of stickers with revised rates

GST's maiden quarter: A three-month learning experience

The crucial issue is whether GDP growth will slow down further in the current quarter

GST returns: Marginal dip in compliance this September

Data from the GSTN reveal the actual number of filings as of September 25 was 3.82 million and not the 3.76 million reported earlier

Exports: How the indirect tax put Indian competitiveness to test

Order book entries receded, scale of business reduced, jobs curtailed

Disinvestment blues

Failure on this front will compound fiscal worries

GST use in national accounts could go well beyond tax numbers

The goods and services tax (GST) might find use in national accounts beyond the routine application of indirect taxes in converting gross value added (GVA) into gross domestic product (GDP). "We have started an exercise to look into this. A group comprising officials of the national accounts division is examining this issue," T C A Anant, the government's chief statistician, told Business Standard. GST, he noted, was more than a tax, since assessees file returns and describe activities on which the tax is levied, beside a whole bunch of other information. "In B2B (business to business) transactions, we can track the value chain. The national accounts committee is looking at it. It is at least worth probing," Anant said.The group will check if there are legal or technical hurdles in the way. In the old taxation system as well, such filings were done in the case of value added tax, central excise duty and service tax but those were in separate data bases. So, the system's ability .

The GST hurdle

Govt must act fast to remove problems faced by exporters

GST: What are consequences of procuring goods from an unregistered vendor?

The government through its tweets has clarified that expenses like freight/transport/packing should be included in the taxable value of the supply while raising the invoice

Employees may have to bear the GST burden on benefits

Many employee benefits are likely to fall under the ambit of GST. The final cost of these levies may have to be borne by the employees, as employers are likely to pass them on

How GST is changing the ad printing business during Durga Puja

Most of these printing companies that do not possess a GST registration have other lines of business such as photocopiers, photography and designing studios

The genius of GST structure lies in its simplicity, except in India

The real culprit is this govt's tendency to set unrealistic goals and then charge ahead pell-mell ignoring expert advice

Will GST ring the death knell for the 'Makers' of India?

Advocacy groups say the GST on all handloom and handicraft below a certain price must be removed

Govt denies exporters' claim of liquidity crunch

Exporters allege that getting refunds for the state component of the levy had become very difficult under DDS

FinMin dispels concerns over high GST transition credit of Rs 65,000 cr

Over 46 lakh businesses have paid taxes to the tune of Rs 95,000 crore in July