Page 68 - Gst

Deadline for biz to file transitional credit under GST extended to Oct 31

The government so far has received transitional credit claims worth a whopping Rs 65,000 crore from traders.

Road to digital governance carved by GST

This may seem tough, but it will set the stage for India's $10-trillion economy target

GST on petrol, diesel requires wider discussion: Nitish Kumar

He asserted taxes on petrol and diesel are a major source of development programmes everywhere in the country

Avoidable issues

GST has been claimed as a revolutionary step in the direction of improving and simplifying taxation and tax collection procedures

Modi govt eyes spending cuts as GST hits tax collection

Tax receipts were about $7.8 billion in July, a little over half the monthly target

GST to change Budget structure

Shorter section on taxes may make space for more feel-good sops ahead of elections

GST: In what form can a return be submitted by a non-resident person?

The writer is tax partner, PwC India

GST: Need tax uniformity on petroleum products, says Pradhan

Looking into the consumer interest, there must be tax rationalisation, the minister said

GST: Textile industry expects rise in cost amid input credit refund delay

The textile industry fears costs could escalate by anywhere between 3% and 5%

GST on fuel can help rein in prices

States resist move as it curbs their flexibility

GST woes: Exporters allege no duty drawback refund from states

State governments have effectively stopped paying tax refunds under the duty drawback scheme (DDS), compounding their liquidity issues, say exporters.Since the Goods and Services Tax (GST) regime was introduced on July 1, they allege, getting refunds for the state component of the levy have become very difficult under the DDS, with the requisite mechanism not in place."While it is still possible to get states to pay for their share of refunds under the Integrated GST, those refunds which are to be paid fully by them are not materialising," said Ajay Sahai, director-general of the Federation of Indian Export Organisations. The problem was across the country, he added.DDS seeks to rebate the duty or tax chargeable on any imported or excisable material or input services used in the manufacture of export goods. Customs and Union excise duties in respect of inputs and service tax in respect of input services are neutralised under the scheme.The Central Board of Excise and Customs, which ...

GST: Govt sets up panel to receive profiteering complaints

Panel has two officials of the Central Board of Excise and Customs and one each from Delhi and Haryana tax department

Delhi HC allows exporter to import without paying IGST

The high court here has granted interim relief for an exporter, to import goods without payment of the integrated goods and services tax (IGST) to the extent allowed by advance authorisations received by him prior to July 1, when GST was enforced. Advance authorisation is issued for exporters to allow duty-free import of inputs which are physically incorporated in export products. The relief given relates to export orders placed on the petitioner, an exporter of plastic products, before July 1. The next hearing in this case is on February 22. Prior to GST, import under the Advance Authorisation Scheme (ASS) was exempt from payment of basic customs duty, additional customs duty, education cess, etc. A major change since July 1 is additional levy of IGST. While upfront exemption is extended to basic customs duty, exporters are required to pay IGST on import and central, state or Union Territory GST (as the case applicable) on domestic procurement; thereafter, they may claim a ...

GST cess hike impact: Luxury cars, SUVs become more expensive

Prices for Innova MPV increased by Rs 78,000 while Fortuner SUV witnessed a price surge of Rs 1,60,000

GST impact: Blue Star reviews expansion plan

Air conditioner major Blue Star has said that it is re-evaluating its plan to set up a green field manufacturing facility in Jammu, in the wake of change of tax benefits after GST implementation. The company is expecting a report from KPMG on whether it will be a prudent investment in the post GST regime, and will take a decision in November, this year, said B Thiagarajan, joint managing director, Blue Star.The decision on this plant will also have an impact on its plan to set up a facility in Sri City, an integrated business city in Andhra Pradesh.Speaking to the reporters after announcing the company's plans on expanding residential water purifier business, he said, "We had to put the plan on hold because the plant make sense only in case the erstwhile CENVAT benefit is fully available in the GST regime."The company has been looking for clarity on the tax benefits once the GST was announced and Jammu and Kashmir announced to join the regime and now the clarity has come in. ...

E-way bill: Do we need it at all?

The industry, struggling with multiple filings under the GST regime, is concerned about the manner in which e-way bills would operate

GST glitches

Centre must work to ensure a smoother transition

Hasmukh Adhia at BS GST Round Table 2017

GST: Govt to assess input tax credit claims of Rs 60,000 crore

The input tax credit for the transitional period has been claimed through the TRAN 1 form

GST Council meet: Easing the tax rates

GST Council meeting held on Saturday