The finance ministry has pulled up officers of the indirect tax department for their supposedly inadequate performance in collecting the goods and services tax (GST), which is shortly going
Category: GST
RBI relaxes NPA classification norms for MSMEs under GST | Business Standard News–08.06.2018
In a major relief to MSMEs, the Reserve Bank on Wednesday eased NPA classification norms for such units facing input credit linkages and associated issues
One year of GST: From launch to Rs 1 lakh crore collection; questions PM Modi must answer now – The Financial Express–06.06.2018
In less than four weeks from now, it will be full one year since India woke up to a new indirect tax regime — the
Location of supplier to be that of bank account: GST clarification – The Financial Express–05.06.2018
The location of a supplier will be the state in which the person holds a bank account even if bank branches of other locations are
Credit note must show tax rate and tax amount, says expert | Business Standard News–05.06.2018
As per Rule 53(i) of the CGST Rules, 2017, the rate of tax and the amount of tax must be shown in the credit note
Government clarifies GST applicability on financial services – The Economic Times–04.06.2018
On whether GST will be levied on the exit-load of mutual funds, the department said exit load in the form of a fee (whether or
GST–Clarification or confusion? – Business Line–04.06.2018
AAR has given conflicting rulings on GST The Goods and Services Tax is undoubtedly the biggest tax reform since Independence. The transition process from the
GST–: Government considering more concessions to exporters – The Economic Times–03.06.2018
In view of an adverse impact of the goods and services tax (GST) on exports — particularly in the handicrafts, apparel and carpet sectors —
‘Costly crude, weak rupee can pose an immediate threat to growth’ – Business Line–01.06.2018
At 7.7 per cent, the GDP growth number for January-March quarter of FY18 beats all expectations but the economy still faces headwinds. BusinessLine caught up with Sunil
Indirect Tax: Government refutes exporters’ claim on pending GST refunds – The Economic Times–31.05.2018
The government has refuted exporters’ claim that Rs. 20,000 crore of goods and services tax (GST) refund is pending, and said there has been no
GST–: Exporters GST refund: Second phase of fast track clearance drive from Thursday – The Economic Times–31.05.2018
With an estimated Rs 20,000 crore exporters’ refund still stuck, the government will launch the second phase of refund fortnight beginning May 31 to fast-track
E-way Bill: Intra -state E-way Bill: 7 things to keep in mind from June 3–Economic Times–31.05.2018
By Tejas Goenka On April 1, 2018, the e-way bill system for the inter-state movement of goods was rolled-out across the nation. In parallel, it was decided
Petrol under GST? – Business Line–31.05.2018
The time is not propitious Ever since the rollout of GST on July 1, 2017, there have been talks about bringing petroleum products under the
GST: Is the world simpler than it was before GST? This jury is in – The Economic Times–29.05.2018
The World Bank’s March 2018 version of ‘India Development Update’ (goo.gl/uig3HT) has some critical remarks on the goods and services tax (GST). But it isn’t
GST: Sale of ‘going concern’ exempt from GST: AAR – The Economic Times–29.05.2018
The Karnataka bench of the AAR gave its ruling based on an application filed by Rajashri Foods Pvt Ltd which wanted to sell one of its units along with
GST alert: No Goods and Services tax on agriculturists; check FinMin details – The Financial Express–29.05.2018
The finance ministry today clarified that renting or leasing of land by farmers for agriculture, forestry, fishing or animal husbandry is exempt from the GST.
Petrol price can be cut Rs 2.65 per litre if states want; but what about Centre? Read what this report says – The Financial Express–29.05.2018
States can cut petrol price by Rs 2.65 per litre and diesel by Rs 2 a litre if they decide to forego potential additional gains out of
GST taxing on inter-branch transactions – The Financial Express–29.05.2018
Santosh Dalvi With effect from July 1, 2017, India implemented a landmark tax reform in the form of GST, bringing about a paradigm shift in
DRI: DRI slaps IGST notice on erring exporters – The Economic Times–28.05.2018
By Sachin Dave & Muskaan Sofet The Directorate of Revenue Intelligence (DRI), primary anti-smuggling intelligence agency, is issuing show-cause notices to exporters for wrongfully availing exemptions in
Has GST hit states growth? Here’s the truth – The Financial Express–28.05.2018
A cursory look at their past performance will reveal that most states had previously registered growth rates much lower than 14% from the taxes that
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