Tag Archives: GST

GST Council cuts tax rates on 29 items, discusses simpler return-filing process

The Goods and Services Tax Council (GST Council) on Thursday cut tax rates on 29 products and 54 services at its 25th meeting and agreed to make the process of filing tax returns simpler. At the meeting chaired by finance minister Arun Jaitley, the federal indirect tax body cut rates on products including pre-owned vehicles, household cooking gas cylinders from ... Read More »

Sales accounted under GST could distort September quarter picture

Investors are in for a surprise when the September quarter results are declared. This will be the first earnings season post-goods and services tax (GST) and differences in how sales will be recorded now are likely to distort reported growth figures. Companies have cautioned about this in their analyst meets and conference calls. Some may provide some comparison to help ... Read More »

Sensex Rises Over 200 Points On GST Boost, Global Rebound

Indian equity markets rebounded on Wednesday tracking positive global markets which rose as concerns about North Korea’s firing of a missile over Japan ebbed. The Sensex gained as much as 235 points to 31,624 while the NSE benchmark Nifty rose as much as 80 points to trade firm above the 9,850 level. Meanwhile, markets also got a boost from GST ... Read More »

GDP Growth Seen Picking Up To 6.6% In Q1 But GST A Hurdle: Poll

Bengaluru: The country’s economic growth likely accelerated to 6.6 per cent in the quarter just ended, but analysts polled by Reuters are sounding increasingly worried that confusion over the Goods and Services Tax (GST) will dampen activity in coming months. The forecast, from a survey of over 40 economists taken over the past week, compares with growth of 6.1 per ... Read More »

GST has transformed India’s economy: PM Modi in ‘Mann ki Baat’

NEW DELHI: In the 34th edition of his radio programme “Mann ki Baat”, Prime Minister Narendra Modi hailed the Goods and Services Tax (GST) and said the benefits of the landmark tax reform are already visible in the upswing in the country’s economy. “It has been one month since GST was implemented and its benefits can be seen already. GST has transformed ... Read More »

GST impact: Jayant Sinha urges trade, industry to trust the system

Jayant Sinha, Minister of State for Civil Aviation speaking at an awareness meeting on GST in Coimbatore on Tuesday S Siva Saravanan The wet grinder cluster in Coimbatore finally had something to cheer about when Jayant Sinha, Minister of State for Civil Aviation, took note of their plea on GST rate fitments and assured the members that he would do ... Read More »

Government Asks Traders To Issue Advertisements About Price Hike Post GST

New Delhi: The government on Friday asked traders and businesses to immediately issue advertisements informing the public about increase in maximum retail price (MRP) on mass consumption products post implementation of GST. To clear pre-GST stocks, the government had earlier this week allowed use of dual stickers reflecting the new rate along side the old printed price of a product for ... Read More »

GST Arrest Clause ‘Draconian’, May Lead To Harassment Of Business Leaders: Mamata Banerjee

Mamata Banerjee said Centre has deviated from the original intent of the GST. (File photo) NEW DELHI: Mamata Banerjee on Friday said the “draconian” arrest clause in the Goods and Services Tax (GST) can lead to “major harassment of business”. The West Bengal Chief Minister expressed fear that the “inspector Raj” was back. “At the stroke of midnight on 14th ... Read More »

Nervousness may grip markets ahead of GST roll out, derivatives expiry

Analysts also see the markets to be in corrective phase after the super rally. Photo: Mint Mumbai: This week, the markets are likely to focus on June series Futures and Options expiry, Prime Minister Narendra Modi’s US visit and the goods and service tax (GST) roll out. PM Modi is on a three-nation tour to Portugal, the US and the ... Read More »

GST Registrations For Ecommerce, New Companies To Begin On June 25

New Delhi: Ecommerce operators and TDS deductors will be able to register with GST Network beginning June 25, when the portal re-opens for fresh registration. Also, existing excise, service tax and VAT assessees will get another chance to migrate to the GSTN portal as registration for them too opens on Sunday next and will remain open for three months. The ... Read More »