Govt gets Rs 42,000 crore tax so far in first filing under GST
Under the GST regime, which was implemented from July 1, businesses are expected to file the monthly tax return.
Aug 21, 2017, 19:14 PM IST
Banks to pay 3% IGST on gold imports: CBEC
Import of gold attracts a 10 per cent basic customs duty. On top of that a 12.5 per cent countervailing duty (CVD) was levied prior to GST.
Aug 21, 2017, 16:02 PM IST
GST impact: India Inc profits dip 11% in Q1'FY18 on destocking
According to the global brokerage firm, GST, which was executed on July 1, adversely affected net profits growth for the first quarter of the current fiscal, with companies in the materials, consumer discretionary sharing bulk of the burden.
Aug 18, 2017, 19:21 PM IST
Form to claim past credit under GST expected from Saturday onwards
These taxpayers will, however, have to pay taxes by August 20 on the portal of the GST Network (GSTN)- the IT infrastructure provider for the new indirect tax regime.
Aug 18, 2017, 15:44 PM IST
Petroleum products will not be brought under GST: MP Finance Minister
However, the minister, who admitted that the rate of tax (VAT and entry tax) on petroleum products in the state is on the higher side also gave a justification for it.
Aug 12, 2017, 19:16 PM IST
GST won't put any pressure on GDP growth, says Rangarajan
Referring to a recent study, he said the total cost of projects initiated by the corporate sector has come down to Rs 0.95 lakh crore (Rs 95,000 crore) in 2015-16 from Rs 5.6 lakh crore in 2009-10.
Aug 11, 2017, 17:28 PM IST
Early signs of tax base expansion post-GST: Economic Survey
The Economic Survey Volume 2, authored by Chief economic Advisor Arvind Subramanian, however, decried excluding health and education from the purview of GST and lamented a "low" 3 percent tax on gold and jewellery saying these items are consumed by the "very rich".
Aug 11, 2017, 15:55 PM IST
GST rollout lowers overall tax burden: Niti VC designate
Niti Aayog Vice-Chairman designate Rajiv Kumar on Tuesday said the implementation of GST has brought down overall tax burden on the economy.
Aug 08, 2017, 20:12 PM IST
Social damages might have more lasting impact on economy than wrong policies: Kaushik Basu
"Social damages to an economy can take much longer to correct than demonetisation or a wrong economic move that can be corrected," he said.
Aug 05, 2017, 14:30 PM IST
Reforms have no finishing line: Arun Jaitley
India needs to pump in huge amount of funds in sectors like health, education, rural infrastructure and irrigation, he said at the launch of a book, 'India Transformed - 25 Years of Economic Reform' here.
Aug 04, 2017, 20:21 PM IST
GST Council may take up certain tax issues at August meet
Central Board of Excise and Customs (CBEC) Chairperson Vanaja Sarna also said the department is keeping track of revenue trends post the GST rollout from July 1, but actual positions will be known after returns are filed in September.
Jul 21, 2017, 15:21 PM IST
Taxmen to go slow on GST enforcement for 6 months
Revenue authorities will go slow in undertaking enforcement actions under GST for the first six months as they want industry to settle down into the new indirect tax regime.
Jul 19, 2017, 13:38 PM IST
GST win-win deal for all: Finance Minister Arun Jaitley
Finance Minister Arun Jaitley on Wednesday described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods.
Jul 19, 2017, 12:23 PM IST
GST: Surat textile traders call off 2-week long strike
The traders in Surat have called off their two-week long strike against the imposition of five per cent GST on textiles following the Centre's assurance to look into their demand for its rollback.
Jul 19, 2017, 10:44 AM IST
Godrej to pass GST benefit, reduce price of locks
Godrej has decided to reduce the price of its locks as tax burden gets eased by five to seven percent post Goods and Services Tax (GST).
Jul 12, 2017, 11:28 AM IST
GST to reduce inflation by 1-2% by year end: Revenue Secretary
The Goods and Services Tax (GST) will help bring down the inflation by one to two percent by the end of this year, Revenue Secretary Hasmukh Adhia has been quoted, as saying.
Jul 11, 2017, 14:37 PM IST
India's reform agenda moving at a quick pace; GST to create unified market of 1.3 billion people: PM Modi at G20 Summit
Talking about the Indian economy at the G20 Summit, PM Modi said the decision on demonetisation has "dealt a blow to corruption, boosted digitisation and enlarged the formal economy".
Jul 07, 2017, 20:19 PM IST
Service consumed in June, billed in July to attract GST
Goods and Services Tax (GST) has been rolled out from July 1, and most of the services attract a higher tax slab of 18 percent compared to around 15 percent service tax charged earlier.
Jul 07, 2017, 19:34 PM IST
Traders urge GST Council to remove anomalies in tax slabs
The traders' body suggested the government to re-examine the category of products and services under the 28 percent tax slab, arguing that many of the products like auto spare parts and housing industry items deserve to be moved to the lower tax bracket.
Jul 07, 2017, 16:54 PM IST
GST impact: Manufacturers to face jail term for not reprinting revised MRP on inventory
Consumer Affairs Minister Ram Vilas Paswan on Friday warned of a fine of up to Rs 1 lakh, including a jail term, if new post GST rates are not printed on the inventory in the interest of consumers.
Jul 07, 2017, 14:45 PM IST
