Page 72 - Gst

GST transition, low sales dent M&M's profit

Total cost of GST transition at profit before tax level stood at Rs 144 crore

Chocolate mithais to attract 5% GST, Centre clarifies

Rates for kulfi, dosa batter, portable toilets spelt out

Hybrid car sales hit bump after GST

Demand for hybrid cars are on a decline since July 1, when companies raised prices by as much as twenty per cent to pass on the impact of higher Goods and Services Tax (GST). In most other markets, the hike has been about ten per cent while the impact as almost 20 per cent in Delhi. Toyota, which was seeing a gradual acceptance of its Camry Hybrid, has seen demand dip by about 30 per cent. Maruti Suzuki, the biggest car maker, with its mild hybrid vehicles Ciaz and Ertiga, said a 'steep decline' is visible. Ciaz, a mid-size sedan had grown to become the largest vehicle in its segment. Of the 5,200 plus units of Ciaz sold by the company every month, seventy per cent happened to be the diesel variant with a mild hybrid. It is this model that is now significantly expensive. Take the case of the Sigma Smart Hybrid Ciaz. It was selling at an ex-showroom price of Rs 7.89 lakh in Delhi. This car now commands a price of Rs 9.42 lakh. The increase is Rs 1.53 lakh or about 19 per cent. In ...

Businesses can file July returns on GSTN from Aug 5

GSTN has tied up with 25 agency banks authorised by the RBI to collect taxes

GST impact: This festive season get discount but no gift voucher, freebie

In the new indirect tax regime, any freebie or gift also attracts the GST

IGST to be levied only once on high sea sales

There was ambiguity on whether IGST would be levied multiple times in such sales

2.7 mn assessees yet to fully migrate to GST portal

As many as 2.7 million of the 7.1 million who were assesses under the pre-goods and services tax (GST) system and have activated their accounts on the latter portal, are yet to complete the entire enrolment process.As a result, they are yet to file returns, said GST Network, the body handling the system's information technology backbone."If you have activated your provisional ID for migrating to GST but not completed all the enrolment formalities, you might be heading for a dead end at the time of filing GST returns," GSTN said.After the initial process of activation of the provisional ID, a taxpayer has to fill Part-B of the enrolment form at the GST portal, providing relevant information regarding the business, including the authorised signatory. Submission of the completed form with digital signature certificate or electronic verification code entitles the taxpayer to the final registration certificate. About 4.4 mn have completed the entire process, of the 7.1 mn.Failure to do so .

Post GST, multi-modal transport key to seamless cargo movement

The first multi-modal facility would be up and running before December 2018

Govt's tax collections likely to go up post GST: Neelkanth Mishra

The 40-plus days of advance notice should be a relief for corporates and enterprises, he says

GST rates: FMCG to gain, SUVs to get cheaper, small cars to get costlier

The government has broadly kept the tax rates as closest to their the existing tax rate structures

GST: Inching closer toward India's biggest tax reform

Since GST will bring change in existing regime, companies need to ensure proper compliance mechanism

Buying a car, gold or property? How GST will impact your expenses

Govt has surely kept the consumer's interest in mind while deciding the tax rates under GST

GST making you anxious? Here is a fact-check on how new tax will impact you

The shelf prices of most commodities is likely to see a change over the next few weeks

GST rollout: After rate fixing, let's now hope the transition is smooth

Consensus among GST Council members on rates is commendable and bodes for a good future

Fixing GST rates for 6 remaining items will be challenging; here's why

Five key messages from GST Council's 14th meet and three thoughts on what future looks like for GST

Next GST Council meeting to decide on anti-profiteering mechanism: Jaitley

GST Council will meet on August 5 to take stock of GST implementation

GST on gold: Buying and making jewellery to get expensive for customers

It can be said that those who are not computerised and internet savvy have to be out of business

Nitin Gadkari pitches for lower GST on alternative fuels

The government wants to cut its crude oil import by 10 per cent

GST impact: Auto LPG sellers want tax parity with CNG

Though lower Goods and Services Tax (GST) rates have led to a push in use of liquefied petroleum gas (LPG) in automobiles, there is lobbying to cut it further, at par with the rate on compressed natural gas (CNG). A rate of 18 per cent has been set for commercial LPG, used as a low emission automobile fuel. CNG is taxed at five per cent. Prior to the July 1 rollout of GST, the tax rate for auto LPG was 23 per cent. "We have requested both the GST Council and the ministry of petroleum to reduce the rates on auto LPG, at par with CNG, to push green energy. In that case, it will become at least 10 per cent cheaper than CNG," Suyash Gupta, director-general of the Indian Auto LPG Coalition, told Business Standard. Auto LPG is the third most commonly used automotive fuel (CNG is fourth) in the world, after petrol and diesel. An estimated 26 million vehicles in 70 countries use it. Seven of the 10 largest car manufacturers produce LPG-powered ones. "Compared to CNG, auto LPG has far lower ..

GST: Car makers drive feel-good factor by doling out deep discounts

Carmakers and dealers doled out steep discounts to clear the inventory ahead of GST rollout