Goods and Services tax

India 360: Government's coffers are filling during the festive season, GST collection increased

Fri, Nov 03, 2023

Cover Story: There is bumper demand all around during the festive season, and the government's coffers are getting filled as GST collection is increasing significantly.

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Around 92% of large taxpayers filed annual returns for 2017-18, says GST Network

Sun, Feb 16, 2020

With Goods and Services Tax launch on July 1, 2017, this is the first time when businesses registered under GST have to file annual return GSTR-9 and reconciliation statement GSTR-9C. 

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GST Claims: Warning! This is what Modi government is doing to identify fraud input tax credit cases

Tue, Feb 11, 2020

It's a warning message for those who indulge or imagine making fraudulent claims under Goods & Services Tax (GST)! 

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Biz get time till Aug 16 to opt for GST composition scheme

Sun, Jul 23, 2017

"With a view to ease the compliance burden of provisionally migrated small taxpayers opting to pay tax under the composition scheme, it has been decided to extend the time limit for filing intimation for composition levy up to August 16, 2017," the finance ministry said in a statement.

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Job creation India's biggest challenge: Singapore deputy PM

Sat, Jul 22, 2017

"India's biggest challenge is jobs. It is a real challenge going forward because India has lost a lot of time, it has lost a lot of time because you have legislation, employment legislation which is anti-employment," he said at the Delhi Economics Conclave here.

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Avenue Supermarts Q1 net profit rises by 48% yoy; to issue Rs 1,000 crore worth bonds

Sat, Jul 22, 2017

ASL posted net profit of Rs 174.77 crore in Q1, a rise of 47.55% compared to Rs 118.44 crore in the corresponding period of the previous year.  On QoQ basis also the company performed good. ​

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Demonetisation, GST to widen tax base, make cash dealing difficult: Jaitley

Sat, Jul 22, 2017

Jaitley said the government has come out with laws to contain overseas black money as well as those dealing with domestic black money and cracking down on shell companies.

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Actively working towards clean political funding: Jaitley

Sat, Jul 22, 2017

"When we deal with the subject of how the political system will be funded, we hope through cleaner money in future. We are actively working on this," he said here at the Delhi Economics Conclave 2017 organised by the Finance Ministry.

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RAI writes to FM Jaitley on retailer woes, consumer confusion over GST

Thu, Jul 20, 2017

With the confusions around the newly implemented GST retailers have raised concern over billing and other problems.   

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Service charge column on a bill may be left blank by restaurants, Govt says

Wed, Jul 19, 2017

CR Chaudhary, Minister of State Ministry of Consumer Affairs, Food and Public Distribution, in a written reply to Lok Sabha said, "As per these guidelines, the bill presented to the customer may clearly display that service charge is voluntary, and the service charge column of the bill may be left blank for the customer to fill up before making payment."

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SBI's various charges on cash withdrawals; here's the list

Tue, Jul 18, 2017

As per SBI the charges are levied for the cost involved in handling the transaction and the attendant work. Govt has received various complain from public in regards to imposition of charges on frequent banking. 

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Cigarette makers drop as GST Council hikes cess; ITC biggest loser

Tue, Jul 18, 2017

The Goods and Services Tax (GST) Council on Monday raised cess rates on cigarettes which will help the government earn Rs 5,000 crore more. Companies that make cigarettes dropped as investors rushed to sell shares.

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GST Council hikes cess on cigarettes

Tue, Jul 18, 2017

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GSTN portal to be ready for invoice uploading from July 24

Sun, Jul 16, 2017

The Goods and Services Tax has kicked in from July 1 and so far, the GST Network, the company handling the IT backbone for new tax regime, has been facilitating registration of businesses.

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2 weeks into GST: Council to take stock tomorrow

Sun, Jul 16, 2017

This will be the first meeting of the Council since the launch of the Goods and Services Tax (GST) on July 1 and the 19th since it was set up in September last year.

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Govt asks businesses to register under GST by July 30

Sat, Jul 15, 2017

"As per the GST laws, one is required to take registration on or before July 30, 2017. All traders are requested to register now without waiting for the last date," a finance ministry statement said.

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Q1FY18: After demonetisation, GST transition will impact FMCG sectors volume, margins and earnings

Wed, Jul 12, 2017

De-stocking on wholesale and CSD level in last days of June quarter, will impact overall earnings of FMCG companies. Margins will also face some pressure. 

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GST impact: FMCG PAT, revenues to slow down over 2% in Q1FY18

Tue, Jul 11, 2017

Result preview of fast moving consumer goods (FMCG) in the first quarter of FY18 will be impacted by the after effects of GST rollout.

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Govt says GST on sanitary pads actually lower than pre-GST era

Mon, Jul 10, 2017

The government said, "Sanitary napkins are classifiable under heading 9619. In pre-GST, they attractedconcessional excise duty of 6% and 5% VAT and, the pre-GST estimated total tax incidence on sanitary napkins was 13.68%.  Therefore, 12% GST rate had been provided for sanitary napkin."

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No GST on gifts under Rs 50,000 per year by an employer: Govt

Mon, Jul 10, 2017

Gifts of above Rs 50,000 value in a year, when given by the employer to the employee without consideration and outside the contractual agreement, will come under the ambit of Goods and Services Tax (GST), the Finance Ministry said on Monday.

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Dell EMC, SAP launch ''GST-in-a-box'' for MSMEs in India

Mon, Jul 10, 2017

SAP is providing a pre-packaged `GST in a Box` solution running on infrastructure solutions of Dell EMC which is aimed at helping MSMEs digitally transform their businesses in compliance with GST.

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Car sales in June drop over 11%

Mon, Jul 10, 2017

Key Highlights: 

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Coca-Cola to launch Indian flavours to compete with local brands

Mon, Jul 10, 2017

MNC, Coca-Cola will soon launch new variant of aerated drinks in local Indian flavours to compete with smaller brands.

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