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GST implementation News

08 Feb 2018

Rs 12,000-cr relief for salaried class, senior citizens in Budget 2018: Jaitley

He said that in the budget he tried to take care of every section and has given relief to middle class as well as senior citizens.

Transitional credit

11 Jan 2018

Union Budget 2018: Govt may announce extension on transitional tax credit scheme

TRAN-1 is to be filed by those businesses that are keen to claim credit for taxes paid before the launch of GST on 1 July.

Transitional credit

02 Jan 2018

Big companies to appeal court on transitional credit losses

TRAN-1 is to be filed by those businesses that are keen to claim credit for taxes paid before the launch of GST on 1 July.

29 Dec 2017

Centre releases Rs 24,500 cr to compensate states post GST

Karnataka got maximum compensation from the Centre at Rs 3,271 crore.

19 Dec 2017

FMCG,white goods makers pin hopes on 2018 to erase past woes

Interestingly, these firms believe that the demand should be evenly distributed between urban and rural markets.

India's services sector

03 Nov 2017

India's services activity grows for 2nd straight month in October

To cater to greater output requirements, service providers hired more for the second month in succession, but the rate of job creation slowed from September.

truckers strike

09 Oct 2017

Prices of commodities to shoot up as trucks go off roads

The truckers' move is likely to disrupt the supplies of commodities and it could lead to a spike in prices of essential goods.

08 Oct 2017

GST rate cut on man-made yarns to give immediate relief: AEPC

These included lowering rates on man-made yarn to 12 per cent from 18 per cent as well as zari job work to 5 per cent from the 12 per cent earlier.

08 Oct 2017

GST 100 days: FMCG cos give thumbs up, say demand picking up

An official of another major FMCG firm said the problem of destocking has been almost over and the channel partners have gone back to normal.

GST diesel inclusion

07 Oct 2017

Truckers to go on strike from Monday, demand diesel inclusion in GST

According to them, confusions arose with the existence of Reverse Charge Mechanism (RCM) and Forward Charge (FCM) in GST system.

07 Oct 2017

Post-GST, tax collection in Goa drops 22%

The state government expects the GST to stabilise from January 2018 onwards.

01 Oct 2017

Govt should relax fiscal deficit targets, boost expenditure: Assocham

In a statement, the chamber said India Inc is looking up to the government to take the 'out of ordinary' measures, citing "concerns over slowdown in growth due to the transient disruptions in the economy following GST implementation and the remaining over-hang of demonetisation".

28 Sep 2017

GST mop-up worries misplaced, but still is negative on markets: UBS

The remaining exporters used the refund mechanism, but the waiting period may initially be longer under GST, hurting near-term exports due to working capital issues.

11 Sep 2017

GST disputes to be less, but complicated, says L&S law firm

Classification of goods is a key element, which is set to decide incidence of GST. There are four slabs for both goods and services -- 5 per cent, 12 per cent, 18 per cent and 28 per cent.

04 Sep 2017

Last date for filing of GST returns for July, August extended

GSTR-3, which is the match of GSTR-1 and GSTR-2, will have to be filed by September 30, in place of September 15.

04 Sep 2017

'GST Council may lower tax rates if high collections continue'

The first month collection under the new Goods and Services Tax (GST) regime has been encouraging and if the rising trend continues till December, it would make a case for reduction of tax rate, he said.

Sun Pharmaceutical Industries

03 Sep 2017

Sun Pharma sees single-digit decline in revenues for FY18

On US FDA inspection, Shanghvi said on completion of re- inspection, the USFDA issued nine observations for the Halol facility and the company is currently in the process of implementing the requisite remediation steps.

30 Aug 2017

It pays to be honest, I-T dept will go after evaders: Arun Jaitley

Under the Goods and Services Tax (GST), which was rolled out from July 1, in order to claim benefit of input credit, businesses have to disclose the volume of transaction in the form of invoice.

Petrol Diesel tax cut

30 Aug 2017

Govt rules out cutting taxes on petrol, diesel

While petrol prices have increased by Rs 6.08 to reach Rs 69.12 a litre in Delhi, the highest since August 2014, diesel rates have risen by Rs 3.65 to Rs 57.01.

cess on luxury cars

30 Aug 2017

Hike in cess on luxury cars to impact growth, say auto companies

The Cabinet on Wednesday approved promulgation of an ordinance to amend the GST compensation law to pave the way for increasing cess on mid and large cars to 25 per cent, from 15 per cent.

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