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
Category: GST
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
GST to be levied on goods stored in customs warehouse only on final clearance: CBIC – The Financial Express–28.05.2018
The circular said that integrated tax shall be levied and collected at the time of final clearance of the warehoused goods for home consumption, which
After 11 months of inception, SEZ Rules yet not aligned with GST laws | Business Standard News–28.05.2018
It is almost 11 months since the Goods and Services Tax (GST) came into being. Yet, the necessary consequential changes have not been made in the Special Economic
How Modi govt can stabilise GST regime and improve the direct tax system | Business Standard Column–28.05.2018
Pratik P Jain radical tax reform post-independence, is still stabilising, which is not unexpected given the magnitude of changes that it brought about. The primary
Fuel price hike: Bringing petroleum products under GST won’t impact prices much, says Sushil Modi – The Financial Express–27.05.2018
Bihar Deputy Chief Minister Sushil Kumar Modi today asserted that bringing petroleum products under the ambit of Goods and Services Tax (GST) will not have
How to moderate retail fuel prices–Economic Times–26.05.2018
The government is reportedly still deliberating options to bring down soaring retail oil prices, which have been raised daily for over ten days now following
Malaysian move means little for India’s GST – The Financial Express–24.05.2018
Malaysia implemented the goods and services tax (GST) regime from April 1, 2015, which replaced its existing sales and service tax (SST) regime. This GST
Rs 450-crore Input Tax Credit: Intelligence unit unearths fake GST bills business – The Financial Express–23.05.2018
The intelligence unit for the goods and services tax (GST) has unearthed a nexus among businesses that use fake bills to claim input tax credit
Tax department sends notices to GST non-filers – The Financial Express–23.05.2018
After months of large scale non-compliance in filing of the summary return (GSTR-3B) by taxpayers under Goods and Services Tax (GST), the tax department has
Input tax credit must be reversed when finished goods are destroyed: Expert | Business Standard News–23.05.2018
Q. We are manufacturers of chemicals. The goods produced in a particular batch are not of correct quality. We cannot sell it or use it.
GST: Lack of item-wise tax collection data proves a hurdle – Business Line–23.05.2018
Even after 10 months of the Goods and Services Tax (GST) rollout, tax authorities are not in a position to tell which sector or item
Export obligation under EPCG scheme made more flexible – Business Line–23.05.2018
In a move that will come as a relief to exporters, the government has decided to make the rules for meeting of export obligation under
Don’t go back on GST – Business Line–23.05.2018
Tweak software issues and iron out ambiguities The announcement last week by the Malaysian government that it would be scrapping GST got some people in
Canteen services provided by outside vendors to attract 18% GST, says Authority for Advance Rulings – The Financial Express–22.05.2018
Canteen services provided by outside vendors in offices and factories will attract 18 per cent GST, said the Authority for Advance Rulings (AAR). The Gujarat
GST–: Revenue authorities step up efforts to make businesses file GST returns within deadline – The Economic Times–20.05.2018
As per official data, while 57.69 per cent of the GST returns for July were filed within the due date, the figure has now gone
GST update: Council asks Centre, states to quickly set up appellate authorities – The Financial Express–20.05.2018
The GST Council has asked the Centre and states to expedite setting up of appellate authorities for aggrieved entities to appeal against orders of the
GST adaptation under lens: Rajasthan depts deduct TDS from contractors, unlawfully – The Financial Express–20.05.2018
In what could bring the state governments’ adaptation to the goods and services tax (GST) into question, a few departments of the Rajasthan government have
aniltikotekar4sme.com 