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GST Latest Updates

 

GST on foodgrain: 5% tax only on branded cereals under trademark law

5% GST is applicable only on brand names which are in force under the Trade Marks Act, 1999 The five per cent Goods and Services Tax (GST) rate will apply only on those branded cereals which are registered with the Register of Trade Marks, while others will remain exempted, the Finance Ministry said on Wednesday.
July 5, 2017 Last Updated at 16:58 IST
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GST to raise industry's contribution to GDP to $280 bn in 9 years: Assocham

GST would make even MSMEs more efficient and confident, integrating them into the economy  An Assocham-APAS study has revealed that with the rollout of the Goods and Services Tax (GST), the industry alone is expected to contribute USD 280 billion to India's Gross Domestic Product (GDP) in the next eight to nine years.
 
July 5, 2017 Last Updated at 16:15 IST
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GST Impact: Renault passes on tax benefits, cuts vehicle prices by 7%

Renault has reduced prices of vehicles ranging between Rs 5,200 & Rs 1.04 lakh by 7% in India French car major Renault on Wednesday announced a reduction in the price of its vehicles by up to 7 per cent in India, ranging between Rs 5,200 and Rs 1.04 lakh, to pass the GST benefit to its customers.
01 July, 2017, Saturday
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GST rollout: Here is the guide to all your queries

The government set up a handle on Twitter to answer queries about GST With the launch of the much awaited GST or goods and services tax on July 1, various government departments are working towards a smooth transition to the new indirect tax regime. GST is touted as the biggest tax reform since Independence.
July 5, 2017 Last Updated at 12:29 IST
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MRP: Retailers can sell pre-GST goods with new price stickers till 30 Sep

After 30 September, the printed MRP on pre-packaged commodity will have to include GST rate The government has allowed with unsold pre-stocks to stick new prices on them for sales, taking into account the post-changes.
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Gold refineries face closure under GST, banks see margin pressure

Bullion importing banks will pay 10% import duty plus 3% IGST. Those in the business of gold will have to adjust their business models drastically as the goods and services tax comes into effect on 1 July.
01 July, 2017, Saturday
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GST to give momentum to 'Make in India', boost exports: Amitabh Kant

'GST is a 'game changer' for India,' said Amitabh Kant.  The Goods & Services tax (GST), India's biggest tax reform since Independence would give a huge impetus to ‘Make in India’ initiative and boost exports, a top government official said here on Saturday.
 
01 July, 2017, Saturday
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GST to burn hole in your pocket as home appliances get costlier from today

Durable makers would also go for another hike before the festive seasons People planning to purchase white goods will have to shell out more money from today as most appliances and durable makers have increased their prices in the new regime under
01 July, 2017, Saturday
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GST regime: You you have to pay more for banking services from today

Most of the financial services would attract a higher tax of 18% as against 15% as of now Consumers will have to shell out more for banking services, insurance premium payments and credit card bills with the GST rollout from tomorrow.
 
01 July, 2017, Saturday
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GST rollout: How the new tax impacts you and why you should care

After years of wait, GST has finally seen the light of day After years of wait, GST has finally seen the light of day on 1 July 2017.  GST has been introduced with great fanfare including the hour long mid-night event in the Indian Parliament.
01 July, 2017, Saturday
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India's tax reform is far from straightforward

A new goods and sales tax is an improvement on the current situation, but still too complex India, one of the world’s fastest-growing economies, is implementing one of the most sweeping tax overhauls in its history this weekend.
01 July, 2017, Saturday
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Will not come after small shops, retailers with anti-profiteering law: Hasmukh Adhia

Businesses, especially small and medium businesses, are apprehensive what can come under the purview of anti-profiteering.
27 Jun, 2017, 05:20PM IST
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GST: There will be no change in law; Amazon, Flipkart get 2 months to comply with TCS provision

The law says that there will be a need to collect and pay the tax at source, which is the TCS provision (Tax collected at Source).
27 Jun, 2017, 05:29PM IST
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GST pangs for 3 months only, people will adjust to new way of life soon: Revenue Secretary Hasmukh Adhia 

Hasmukh Adhia today said that the initial pangs of GST might be felt for the first three months but after that things will settle down
27 Jun, 2017, 12:47PM IST
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Eateries to shut early on 30th to avoid midnight tryst with GST

Restaurants, which otherwise close at 1.30am, especially on Friday will either shut around 11.30 pm or take orders only till midnight.
27 Jun, 2017, 02:01PM IST
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GST: Relief for Amazon and Flipkart as government defers implementation of a provision

Ecommerce players had feared losing business as a large number of small suppliers were yet to register their operations as required
27 Jun, 2017, 05:59AM IST
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E-commerce sellers can file their GST returns via ClearTax

We are offering two plans that will cater to online sellers. These are largely automated and once a seller opts for the service, his taxes will be taken care of,” says Archit Gupta, CEO, ClearTax.
26 Jun, 2017, 11:55PM IST
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View: Why GST is starting to look like an Indian wedding

GST, which intends to knit India together into a single tax area for the first time, goes live on July 1 -- at the stroke of midnight.
26 Jun, 2017, 03:20PM IST
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India's GST: Is it a modified Value Added Tax?

Increasing the indirect taxes makes consumption more and more costly and therefore has an inflationary effect, which makes the poor to suffer the most.
24 Jun, 2017, 11:21AM IST
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