Page 99 - Gst

GST: IT sector, SMEs to spend more than $25 billion by 2020, says Nasscom

Besides looking at GST as opportunity, IT sector has its own concerns over new indirect tax regime

India Inc revenue grows 7% in June quarter; GST may cap growth, says CRISIL

India Inc revenue growth at 7% in Q1; GST may cap growth by 1.2%, says Crisil

GST regime: Govt tells traders to issue advertisements about price hikes

Law provides for indicating the MRP of a product clearly on every product: Revenue Secretary

GST regime: Indian Motorcycle cuts prices of 3 models by up to Rs 2.21 lakh

American cult bike brand Indian Motorcycle today reduced prices of three of its models in India by up to Rs 2.21 lakh after GST implementation. Polaris India, which sells the brand in the country, said the price reduction in the three models -- Indian Scout, Indian Dark Horse and Indian Chief Classic -- ranges between 9 per cent and 12 per cent. The post GST price of Indian Scout model will be Rs 12.99 lakh as against Rs 14.75 lakh earlier, a reduction of 12 per cent, the company said in a statement. Similarly, the Indian Dark Horse model will now be tagged at Rs 21.25 lakh, down 9 per cent from Rs 23.4 lakh before. The Indian Chief Classic model will cost Rs 21.99 lakh in the GST era, down 9 per cent from Rs 24.2 lakh earlier, it added. Indian Motorcycle sells a total of nine models in India. Other two-wheeler manufacturers TVS Motor Company, Honda Motorcycle & Scooter India, Hero MotoCorp, Bajaj Auto, Royal Enfield, Yamaha and Suzuki Motorcycle have ..

GST impact: Cos face jail term for not reprinting revised MRP on inventory

Manufacturers have been allowed to clear the unsold stocks by September with new MRP

GST: M&M to phase out hybrid cars, halts production of Scorpio hybrid

GST on hybrid cars is fixed at 43% that puts them in the same league as luxury cars and SUVs

GST extended to Jammu and Kashmir amidst opposition boycott

GST regime will roll out in the state at midnight tonight

GST refund: Govt to make provisions for reimbursement in excise-free zones

The Union government has moved a proposal to make a budgetary provision for refunding its share of area-based exemptions on indirect taxes given to certain states in the past. In last week's meeting of thee Goods and Services Tax (GST) Council, it was decided that 'all entities exempted under payment of indirect tax under any existing incentives scheme of central or state governments shall not continue under the GST regime and existing units shall pay tax under the GST regime'.Under the discretionary powers left to it by the Council regarding these incentives, the finance ministry has proposed to provide budgetary support for refunding its share in GST to such units to which exemptions in indirect taxes were granted, for promoting industrialisation. The units are situated in Jammu & Kashmir, Himachal Pradesh, Uttrakhand and the northeastern states, In these states, some areas have been catagorised as excise-free zones and units in those areas were eligible for expemptions. ...

Modi govt integrated the nation economically via GST, says Arun Jaitley

The Narendra Modi government has been able to integrate the nation economically for the first time through the Goods and Services Tax (GST), Finance Minister Arun Jaitley said on Thursday.Addressing a gathering of Bharatiya Janata Party functionaries and workers of the Delhi organisation on the birth anniversary of Syama Prasad Mookerjee, the minister noted that even Jammu & Kashmir had been brought into the common taxation fold of GST. It may be noted that Mookerjee had died in a Kashmir jail, after being arrested in an agitation against the state's separate Constitutional status. Jaitley's address was interrupted by frequent chants of Bharat Mata Ki Jai and Har Har Modi. However, the organisers ensured that Jaitley, the chief guest, received no less adulation from Delhi-based leaders, who reminded everyone of the minister's long association with the city -- he was president of the Delhi University Students Union when the emergency of the mid-70s was imposed, and he was jailed. ..

Modi govt's 7-rate tax structure a 'mockery of GST', says P Chidambaram

New Delhi, July 6Senior Congress leader P Chidambaram today said the Goods and Services Tax (GST) regime the Narendra Modi government rolled out on July 1, with its seven or more rates, has made a "mockery" of the GST that was originally planned.The former finance minister said the Congress is "convinced that the administration and businesses - especially small and medium business - are unprepared or underprepared for the rollout of GST." Chidambaram, said businesses wanted some more time and the rollout should have been deferred by two months, and the GSTN (GST Network) should have been put through a trial run and the glitches, if any, should have been addressed. He said the GST rate should have been capped at 18 per cent.Traders and small and medium enterprises (SMEs) have held protests and strikes across the country in the last few days. In Tamil Nadu, textile industries today commenced a six-day strike demanding abolition of GST on textile goods. The Confederation of All India ...

Traders with turnover below Rs 20 lakh will have to register for GST: Adhia

Rs 20 lakh registration limit is only for intra-state traders

Who set the ball rolling on GST? Vajpayee, not Congress, says Arun Jaitley

Vajpayee govt setup a task force in 2003, submitted a report saying merger of central, state levies

Nation was politically integrated, GST integrating it economically: Jaitley

With the new tax regime, things will be simplified: Jaitley

GST makes cars cheaper by up to Rs 3 lakh: Full list of discounts offered

Under the GST regime, tax on automobiles has been capped at 43 per cent

GST has not made sellers move away from e-commerce: Amazon

E-commerce giant Amazon says it has not witnessed any dropoff in sellers registered on its platform in India due to the July 1 rollout of GST, putting to rest concerns that the country's new tax regime would hurt online retail in the country. Further, the company says signups of new vendors on its platform have remained strong in the months leading up to GST, indicating that sellers continued to view the online channel as a lucrative mode of business, rather than adopting wait and watch tactics. "We have started tracking how the sellers' inventory in the warehouses looks. Has there been a drop? How are sales doing? All those indicators are currently looking very strong, so the transition has not really moved any sellers away from e-commerce," said Vivek Somareddy, Director, FBA & Seller Flex at Amazon. Amazon, which claims to have over 200,000 sellers registered on its marketplace in India, says it has managed to keep almost its entire seller base intact through the rollout of ...

GST to dampen demand for yellow metal in short term: World Gold Council

Small-scale artisans and retailers with varying tax compliance may struggle to adapt: WGC

GST impact on real estate: Home buyers' tax burden won't rise, says report

Lot of efficiencies have been brought in through GST: Knight Frank India's Chief Economist

SEZs exempted from integrated GST for authorised operations

Exports from SEZs grew by about 12 per cent to Rs 5.24 lakh crore in 2016-1

Struggling to adapt: GST could dampen gold demand in short-term, says WGC

Two-thirds of India's gold demand comes from rural areas, where jewellery is a traditional store of

Will act against traders inflating prices post GST: Kerala govt

Many traders are making profits by imposing GST on pre-GST price, the state Finance Minister said