Goods and Service Tax

FMCG firms top chart of consumer complaints after GST roll-out

Tue, Dec 17, 2019

Fast-moving consumer goods (FMCG) firms have topped the list of over-charging customers ever since the Goods and Services Tax (GST) was rolled out on July 1, 2017. Restaurateurs came second in the chart followed by entertainment and media firms. 

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Taxpayers worried over GST red-flag reports

Sun, Nov 24, 2019

IANS has seen a red-flag report to the taxpayer. Sources said that the red-flag reports are very detailed and highlight discrepancies across various parameters.

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No GST on goods bought at duty free shops: Bombay HC

Thu, Oct 10, 2019

In major relief to duty free shops, the Bombay High Court has ruled that goods and services tax (GST) cannot be levied on products sold at the duty free shops in Mumbai airport.

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MHCV revival in demand to be delayed as govt leaves out truck transporters out of GST registration

Mon, Jun 26, 2017

The government has given truck transporters a relief from the GST registration which would lead to delay in consolidation in the industry and would also delay MHCV demand.

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GST rollout: Registration window reopens for 3 months, here's how you can do it

Mon, Jun 26, 2017

GST Network, the company which is providing information technology systems for GST, has once again opened registration for assessees on Sunday. 

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Job market eyes GST booster for over 1 lakh immediate openings

Sun, Jun 25, 2017

The job market is looking forward to a big boost from the new GST regime and expects over one lakh immediate new employment opportunities, including in specialised areas like taxation, accounting and data analysis.

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Market outlook: Caution over GST, derivatives expiry to affect equities

Sun, Jun 25, 2017

Derivatives expiry coupled with crude oil prices and direction of foreign funds` movement are expected to affect the equity charts during the upcoming week.

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GST switchover: Renaming CBEC as CBIC may take a while

Sun, Jun 25, 2017

Rechristening the Central Board of Excise and Customs (CBEC) may not come about immediately as the revenue department may introduce amendments to at least five Acts only in the upcoming monsoon session next month.

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GST rollout: Here's how much more premium you need to pay on insurance policies

Thu, Jun 22, 2017

Customers currently pay 15% service tax for financial services. Starting from July 1, 2017 the GST will replace all indirect taxes like service tax and Value Added Tax. Financial services and telecom have been put in the 18% GST slab. 

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GST could make your movie going experience cheaper

Thu, Jun 22, 2017

With GST coming in multiplexes will get a break primarily due to the input tax credit offered by the new tax regime and as a result could pass on the lower tax benefits to customers.

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GST rollout: Know about form GSTR-3B for filing tax returns

Wed, Jun 21, 2017

Goods and Service Tax (GST) regime is set to rollout in less than two weeks.  Finance Minister Arun Jaitley has said that the new tax structure will be launched on midnight of June 30 at Central Hall of Parliament. 

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Destocking led by GST may hurt AC sales for Voltas, Blue Star

Wed, Jun 21, 2017

Consumer electronics – air condition manufacturer companies may witness lower sales in the first quarter of FY18. The lower sales margins is anticipated by analysts on destocking by dealers and higher tax rates.

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Won't blink on GST launch, no excuse for biz not being ready, says Jaitley

Tue, Jun 20, 2017

GST, which was originally planned to be implemented from April 1 but was deferred by three months, will be launched at a grand function in the historic Central Hall of Parliament on the midnight of June 30.

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GST to be launched on June 30 midnight in Parliament

Tue, Jun 20, 2017

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Here's how GST will impact the advertising industry

Tue, Jun 20, 2017

In terms of the type of industries, the trading industry will see a large 15% rise in the advertising budgeds due to the implementation of the GST.

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Not only small retailers, even for large ones GST is a big difference: Kumar Rajagopalan, RAI

Mon, Jun 19, 2017

Key highlights:

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Govt ropes in Amitabh Bachchan to promote GST

Mon, Jun 19, 2017

The Central Board of Excise and Customs will be making the 74-year-old Bachchan brand ambassador for GST. A 40-second video featuring him has already been shot and is being circulated.

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Govt relaxes GST return filing procedure; here are the deadlines specified

Mon, Jun 19, 2017

The GST Council decided to relax the returns filing procedure under the GST regime. The government said that tax would be payable on a simple return form – GSTR-3B.  

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GST Council clears anti-profiteering laws, relaxes return filing deadline

Sun, Jun 18, 2017

GST Council that met on Sunday has cleared rules of anti-profiteering under GST and set tax rates for state-run and government authorised lotteries.

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Trade worried over stock, losses in run-up to GST

Sun, Jun 18, 2017

Consumer durables makers say the run up to GST implementation has caused 'discomfort' among their trade partners who are busy clearing old stock to avoid losses before the new indirect tax regime kicks in next month.

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Monsoon, GST preparedness to dictate stock markets: Experts

Sun, Jun 18, 2017

With no major events lined up for this week, stock market would take cues from progress of monsoons and the country's GST preparedness ahead of the July 1 rollout of the new indirect tax regime, say experts.

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GST to mask real growth trends in FMCG, says Credit Suisse

Sat, Jun 17, 2017

Goods and Service Tax (GST) regime sited to come into effect in another two weeks will be a game changer for India in many ways, however analysts say that growth trends comparison will become harder to read.

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Defer GST rollout as IT network not ready: Assocham to Arun Jaitley

Sat, Jun 17, 2017

Industry chamber Assocham today demanded postponing GST implementation, saying that taxpayers will find it difficult to comply with the provisions of the new indirect tax regime as the IT network is not yet ready.

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