Page 81 - Gst

GST might hit small fund distributors, investment advisors

Advent of the goods and services tax (GST) is likely to hit small distributors and investment advisors, says the mutual fund (MF) sector.Players say ambiguity over input tax credit and inter-state transactions has created confusion among distributors, particularly those earning less than Rs 20 lakh a year.Meanwhile, fund houses and the Association of Mutual Funds in India (Amfi) are helping distributors get GST-ready, by conducting workshops and educating through lists of 'Frequently asked questions (FAQs). Amfi has also appointed consultancy entity PwC India to assess the impact on the sector.According to industry players, registration and obtaining of GST number is mandatory for all MF distributors, irrespective of their income. Fund houses are expected to deduct GST from distributors' commission, even those whose income is below the threshold of Rs 20 lakh, if they haven't provided their GST number. Those providing it will be paid the entire brokerage and distributors will have to .

After GST rollout, dual MRP tags to help clear inventories, say FMCG firms

Tags indicating pre and post GST rates would help in bringing transparency to the market

GST rollout: Commexes to face short-term headwinds

Rollout of new tax regime may dissuade investors from putting their money in agri-commodity market

GST preparedness: Paytm Mall rolls out one-stop solution for small SMBs

Company has collaborated with HP and Lenovo for the purpose

GST to raise industry's contribution to GDP to $280 bn in 9 years: Assocham

GST would make even MSMEs more efficient and confident, integrating them into the economy

MRP: Retailers can sell pre-GST goods with new price stickers till 30 Sep

After 30 September, the printed MRP on pre-packaged commodity will have to include GST rate

GST rollout: 3,500 helpdesks, 8,000 tax consultants emerge in just 5 days

Industry bodies, trader and retailers associations have set up helpdesks across the country

Glimpses of GST roll-out across Union Territories

Figures from all UTs as well as the National Capital suggest a smooth migration to the new system

GST regime: Truckers caught in twists and turns

Three days into new regime, truck owners across India are struggling to smoothen the flow of cargo

Maharashtra, Tamil Nadu raise taxes outside GST, Centre says they can

Two state governments, Maharashtra and Tamil Nadu, have started imposing taxes outside the national goods and services tax (GST), something the Centre says they can do.The Centre says states may impose mandi (wholesale markets) tax and vehicle registration fee, beside raising entertainment tax beyond the GST rate.On Tuesday, the Maharashtra cabinet decided to raise the one-time registration fee on private two-wheel and four-wheel vehicles by two percentage points, for new ones registered in the state. This is to compensate for a combined revenue loss of Rs 600-700 crore annually that it will lose on local body taxes and octroi after GST implementation. The increase is across vehicle categories. It has, however, capped the tax for imported cars at Rs 20 lakh, as against the earlier charge of 20 per cent of the total car cost.A report by news agency PTI stated the tax on two-wheelers and three-wheelers had been raised from the existing 8-10 per cent to 10-12 per cent; for petrol-driven .

GST regime: Tax hike could increase illegal gold sales

Under new regime, tax on gold has jumped to 3% from 1.2% previously

Keeping close watch on price, supply of goods after GST roll-out: Adhia

Close to 202,000 new entities have registered under the GST Network

Why local body taxes on films are a bad idea

Battle between theatre owners and Tamil Nadu govt over additional taxes could set a bad precedent

I can lynch you here, J&K minister tells NC MLA in Assembly over GST

"I can lynch you here," Jammu and Kashmir minister Imran Ansari told National Conference leader Devender Rana in the Legislative Assembly during a discussion on implementation of the Goods and Services Tax (GST). The remark came during a heated argument between the minister and the opposition MLA. J&K is the only state which is yet to implement the GST, which came into force in rest of the country on July 1. Rana, while taking part in the discussion on the GST regime, said members of House should rise above "political considerations" and agree upon what is good for the state and its people. He opposed the GST in its current form, saying it would render the special status of the state as a "hollow husk". The minister for information technology, technical education and youth services and sports, interrupted and accused Rana of "double standards". He claimed that while Rana was opposing the GST in the Assembly, while he has already migrated his businesses to the new taxation .

What GST means for BJP

GST's significance for the BJP's politics is as important as its implications for the Indian economy

GST-compliance blues will melt away

GST Council has taken several decisions to ensure easy migration for SMEs to the new system

GST impact at a glance: Here is how key sectors of economy will be affected

Sectoral impact of GST, which aims to facilitate seamless input credit flow across supply chain

GST story: From birth of an idea to midnight launch, full journey of 11 yrs

GST is India's biggest tax reform in 70 years since Independence

GST: After 17 years of brainstorming, India wakes up to historic tax reform

'Tonight, we are rewriting the destiny of our country, PM Modi' said at the midnight launch event

Garment units in a fix over confusion in GST rates on job work

Textile industry has said that the confusion over tax rates on the job work still not addressed. They have knocked the doors of the Ministry asking for a clarification.At the June 11th meeting the GST Council has said that services by way of job work in relation to textile yarns (other than man-made, fibre/ filament) and textile fabrics brought down to five per cent from 18 per centBut the textile sector thinks that the job works including stitching, printing, embroidery would fall under 18 per cent bracket. Their real worry is what is some processes are donw after fabric is converted in garment? A senior industry representative town of Tirupur said that the confusion is that in case if the stitched garment is sent for job work for printing / embroidery whether it attracts 5% or 18%. The notn details for 5% stops at fabric stage.Tirupur Exporters Association has represented to clarify the position.Confederation of Indian Textile Industry (CITI's) Chairman, J Thulasidharan said that ...