Firms across sectors say they are ready for new regime, but SMEs find the deadline challenging
Passengers were seen arguing that the charge must be levied on tickets booked after July 1
'GST is a 'game changer' for India,' said Amitabh Kant
Much to the dismay of buyers most brands have got costlier on account of GST
Durable makers would also go for another hike before the festive seasons
GST is a reality now. Here are some important things you need to know about the new tax
After years of wait, GST has finally seen the light of day on 1 July 2017
The job work on texurising, twisting, weaving, yarn dyeing have been reduced to 5% from 18 %
GST bill roll out. Get live updates on GST news exclusively by Business Standard
BJP accused the Congress of not being supportive on the issue of GST
A new goods and sales tax is an improvement on the current situation, but still too complex
PM Modi government is putting India through a revolution in the way the country does business
The council's logic for multiple slabs may run counter to the philosophy of a good GST
Reform that holds great potential is being rushed through in a half-baked way, Rahul tweeted
PM Narendra Modi, President Pranab Mukherjee launch the goods and services tax
Ahead of peak kharif sowing and keeping in mind farmer unrest across the country, the Goods and Services Tax Council lowered the rate on fertiliser from 12 per cent to five and on tractor parts from 28 per cent to 18 per cent.The decision was taken on the eve of the mega launch of GST. The move could bring down the price of fertiliser, as the current tax rates are six to eight per cent. Some stockists had started holding on to their inventory in anticipation of a rise in prices, leading to an artificial shortage in some parts."The move on fertiliser is surely positive for the industry and also farmers but the input tax credit issue needs to addressed earnestly or it will add on to our long list of unpaid bills," Satish Chander, chairman of the Fertilizer Association of India, told Business Standard.With the earlier GST rate, retail prices could have gone up by Rs 30-120 a 50-kg bag on urea, di-ammonium phosphate (DAP) and potash in states with nil tax on soil nutrient such as Punjab, .
On Friday night, Big Bazaar will remain open for a midnight shopping bonanza
The govt sought to either maintain or reduce the existing tax burden on most goods
However, under GST regime, CPI inflation might decline
Says, industry's response to goods and services tax is underestimated