GST Council

No GST on packaged foods if brand rights foregone

"These notifications, interalia, provide that 5 per cent GST will apply if on brand name (as defined in the notification) an actionable claim or enforceable right in court of law is available," it said.

Sep 23, 2017, 00:45 AM IST

Finance Ministry dispels concerns over high GST transition credit

Also, some of the credits, which are claimed in TRAN-1 form may be under litigation and?therefore, it may not be available to the assessee to carry forward or for utilisation.

Sep 22, 2017, 16:50 PM IST

Looking at ways to ensure timely refund of taxes: Finance Ministry

For July, where GSTR 1 form has been already filed by businesses, it said the authorities would be in a position to process the refund applications.

Sep 22, 2017, 16:45 PM IST

Govt frames parameters for division of taxpayers under GST

In a circular to all chief secretaries of states and principal commissioners of Central Tax, the GST Council secretariat laid down guidelines for division of taxpayers on the basis of their turnover to ensure single interface under the new indirect tax regime which was rolled out on July 1.

Sep 21, 2017, 19:55 PM IST

30 lakh biz file GST returns, system robust: GSTN Chairman

As per the Central GST and State GST Acts, an interest at the rate of 18 per cent will be levied for delayed payment of tax and filing of returns.

Sep 21, 2017, 16:41 PM IST

GST Council recommends 5% rate for branded cereal, pulses and flour

A brand registered as on 15.05.2017 under the Copyright Act, 1957 shall also be treated as a registered brand for the purposes of levy of 5% GST.

Sep 20, 2017, 21:04 PM IST

80,000 returns per hour being uploaded on GSTN portal, says Chairman

Over 47 lakh returns in GSTR-3B were filed for July and the tally is expected to be similar for August.

Sep 20, 2017, 15:20 PM IST

GST Council to meet on Oct 6, may dole out sops to exporters

The meeting was scheduled to be held on October 24 but was preponed in view of the engagements following Diwali festival.

Sep 19, 2017, 20:52 PM IST

Fast-track GST refund, else Rs 65K crore may be stuck: Exporters

In a presentation before the Committee, the Gems and Jewellery Industry demanded exemption from Integrated GST (IGST) on procurement of precious metals from the nominated agencies for the purpose of manufacture and export of jewellery.

Sep 19, 2017, 19:05 PM IST

GSTN reopens window for composition scheme

Taxpayers were earlier given time till August 16 to opt for composition scheme.

Sep 17, 2017, 18:24 PM IST

Bring petroleum products under GST, Oil Minister requests Finance Ministry

The minister for petroleum and natural gas said, "42 per cent of the central tax is coming to states. And states have their own tax mechanism. So a substantial portion of tax collection is utilised and coming to the states."

Sep 17, 2017, 13:07 PM IST

No further extension in filing returns under GST: Hasmukh Adhia

GOM was formed at the last meeting of GST Council in Hyderabad after lot of I-T issues concering returns filing were raised by the states.

Sep 16, 2017, 14:23 PM IST

Frequent changes in tax rates to impact investment: Hyundai

The GST Council last week decided to hike cess on mid- size cars by 2 per cent, on large cars by 5 per cent and on SUVs by 7 per cent to bring tax rates on these cars at pre-GST levels.

Sep 12, 2017, 17:57 PM IST

Govt notifies GST cess hike on mid & large cars, SUVs

The Finance Ministry late last night notified the hike in quantum of cess to be levied on cars, following which the new rates came into effect.

Sep 12, 2017, 14:16 PM IST

M&M likely to be most impacted due to GST cess hike: Jefferies

The GST Council decided to hike the cess on mid and high-end cars on September 9.

Sep 11, 2017, 19:01 PM IST

GJEPC hails GST council decision on rough diamond import

Pandya also welcomed the formation of the special committee to look after GST rules in relation with exports under the Chairmanship of Revenue Secretary.

Sep 11, 2017, 18:42 PM IST

Fading Demonetisation impact, monsoon pushes up August car sales

The three-wheelers segment`s off-take increased by 2.51 per cent to 51,451 units during the month under review.

Sep 11, 2017, 18:36 PM IST

GST council meet successfully ended ; here are the major decisions taken

After the second review meeting post the Goods and Services Tax roll out, Finance Minister Arun Jaitley briefed media about the GST council meeting.

Sep 09, 2017, 21:19 PM IST

Artisans with Rs 20 lakh turnover exempt from GST registration

West Bengal Finance Minister Amit Mitra said besides exempting artisans, the 21st meeting of the highest decision making body of the GST exempted clay idols from the tax.

Sep 09, 2017, 20:53 PM IST