GST Council constitutes 18 Sectoral Groups for smooth roll-out of GST
Posted Date : 09-Jun-2017 , 10:07:57 pm | Posted By CASANSAAR
As decided in the 14th Meeting of the GST Council held on 18th-19th May, 2017 in Srinagar, J&K, 18 Sectoral Groups have been constituted representing various sectors of the economy in order to ensure smooth roll-out of GST. These 18 Sectoral Groups representing various sectors of the e...
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J-K Gov summons legislature for special session on GST
Posted Date : 09-Jun-2017 , 09:28:57 am | Posted By CASANSAAR
Jammu and Kashmir Governor N N Vohra today summoned the state legislature for a special session on June 17 to discuss the draft GST legislation approved by the state government.
Yesterday, the state government had approved the draft legislation and expressed its desire to hold a special assembly ...
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GST Council clears 3-tier Project Management
Posted Date : 06-Jun-2017 , 10:17:21 pm | Posted By CASANSAAR
With the Goods and Services Tax (GST) set to be rolled out from July 1, the GST Council has approved constitution of a three-tier structure for ‘project management’ of GST, consisting of the office of revenue secretary Hasmukh Adhia at the top, followed by a Project Management Team calle...
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Cabinet Secretary asks Ministries to set up GST facilitation cells
Posted Date : 06-Jun-2017 , 10:13:11 pm | Posted By CASANSAAR
Cabinet Secretary P.K.Sinha has asked the Secretaries of different Ministries/departments to set up a Goods and Services Tax (GST) Facilitation Cell in their respective department/ministry.
The Cell will be in constant touch with the major industry and business associations relating to the respec...
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24 States pass the State GST (SGST) Act While 7 States have yet to pass the SGST Act
Posted Date : 06-Jun-2017 , 08:03:03 am | Posted By CASANSAAR
24 States pass the State GST (SGST) Act While 7 States viz. Meghalaya,Punjab,Tamil Nadu, Kerala, Karnataka, Jammu & Kashmir and West Bengal have yet to pass the SGST Act.
Twenty Four (24) States have passed the State GST (SGST) Act till today i.e. 5th June, 2017 while 7...
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Prime Minister reviews progress towards GST implementation
Posted Date : 05-Jun-2017 , 09:56:26 pm | Posted By CASANSAAR
Prime Minister Narendra Modi has directed that maximum attention be paid to cyber-security in IT systems concerned with Goods and Services Tax. Reviewing the progress towards beginning of GST from 1st of next month, Mr. Modi asserted that the implementation of new tax regime is the culmination of th...
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CAG will audit GSTN - Finance Minister
Posted Date : 05-Jun-2017 , 09:52:27 pm | Posted By CASANSAAR
Clearing the air on audit of the firm providing IT backbone for GST, Finance Minister Arun Jaitley today said the Comptroller and Auditor General of India will audit the Goods and Services Tax Network (GSTN).
In a rebuff of party colleague Subramanian Swamy, he defended the equity structure of GS...
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GST Council finalises tax rates on last six items, sets stage for July 1 roll out
Posted Date : 05-Jun-2017 , 08:33:37 am | Posted By CASANSAAR
Setting the stage for the roll out of the Goods and Services Tax, the GST Council today finalised the rates of taxation on the last six items. With this, the council completed the work of bringing all items under the four-slab GST structure.
Last month, during its meeting in Srinagar, the Arun Ja...
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Govt starts GST awareness drive for consumers
Posted Date : 05-Jun-2017 , 08:27:39 am | Posted By CASANSAAR
The government has started its media blitzkrieg to tell the common man that the upcoming GST will reduce prices of most goods.
The Central Board of Excise and Customs (CBEC) in advertisements in leading dailies gave pictorial representations of items which are exempt from Goods and Services Tax a...
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Delhi Assembly passes state GST bill in a special session
Posted Date : 01-Jun-2017 , 07:52:13 am | Posted By CASANSAAR
The Delhi Assembly passed the state Goods and Services Tax (GST) Bill even as Chief Minister Arvind Kejriwal pitched for capping the tax rate at a maximum of 10 per cent.
A special session of the Assembly cleared the bill with voice vote after an extensive discussion and also adopted a reso...
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GST would be implemented from July1, 2017 - Revenue Secretary
Posted Date : 31-May-2017 , 07:52:39 am | Posted By CASANSAAR
Dr. Hasmukh Adhia, Revenue Secretary, Ministry of Finance, Government of India categorically stated that the Goods and Services Tax (GST) will be implemented from July 1, 2017. Dr Adhia was speaking at a Town Hall Meeting with GST stakeholders including Tax Assesses, Traders and representatives of T...
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ICAI sets up desks to help traders with GST
Posted Date : 30-May-2017 , 10:50:21 am | Posted By CASANSAAR
Chartered accountants' apex body ICAI has set up desks to help small businessmen and traders on Goods and Services Tax (GST), which is set to be rolled out from July 1.
ICAI GST Sahayata Desks have been made operational, without any charge, at all major cities to facilitate small busine...
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GST will help in evolving India as tax-compliant society
Posted Date : 30-May-2017 , 10:20:20 am | Posted By CASANSAAR
The Goods and Services Tax, to be rolled out in just over a month, will not only check evasions but also help India evolve as a more tax-compliant society, Finance Minister Arun Jaitley said on Monday.
"It certainly will be a more efficient tax and one of the important changes it will bring ...
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Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee and Milk Powder
Posted Date : 26-May-2017 , 07:41:15 am | Posted By CASANSAAR
Proposed GST Tax rates would be lesser than the prevailing taxes in case of Sugar, Tea and Coffee (other than instant coffee) and Milk Powder; Present incidence of taxes on sugar is 8% while proposed GST rate on Sugar is only 5% i.e. 3% less;
Similarly, present incidence of taxes on Milk Po...
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No doubt in GST implementation from 1st July - FM
Posted Date : 24-May-2017 , 06:53:30 am | Posted By CASANSAAR
Finance minister Arun Jaitley, while attending the African Development Bank’s annual meet, on Tuesday said that consensus building in the 14 meetings of the GST Council has been such that apart from six items there had not been a single vote against any issue and there was no doubt in the impl...
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Lower Tax Incidence on Entertainment Services under Goods and Services (GST) Tax
Posted Date : 24-May-2017 , 06:37:37 am | Posted By CASANSAAR
Lower Tax Incidence on Entertainment Services under Goods and Services (GST) Tax
Service providers shall be eligible for full Input Tax Credits (ITC) of GST paid in respect of inputs and input services
Taxes on entertainments and amusements (covered by the erstwhile entry...
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Exporters to get tax refund under GST within 7 days
Posted Date : 20-May-2017 , 08:23:26 pm | Posted By CASANSAAR
Commerce Minister Nirmala Sitharaman today assured exporters that they would get their refund tax claims within seven days under the new goods and services tax (GST) regime.
She also said that the GST Council has been fairly seized of the tax refund issue under the new indirect tax regime, to be ...
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GST will be consumer-friendly, healthcare and education to be exempted - FM
Posted Date : 20-May-2017 , 07:37:36 am | Posted By CASANSAAR
The Finance Minister Arun Jaitley has said that healthcare and education will remain exempted from the GST. Addressing a press conference after the two-day 14th GST council meeting in Srinagar today, Mr. Jaitley said, services to be taxed at 5, 12, 18, 28 per cent.
He said, restaurants with...
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GST Council finalises rates for services
Posted Date : 20-May-2017 , 07:28:33 am | Posted By CASANSAAR
The Goods and Services Tax (GST) Council on Friday finalised tax rates for all services, except lottery, under the new indirect tax regime to be rolled out from July 1. Those services already exempted from tax, such as healthcare and education, will continue to enjoy the concession.
The tax rate ...
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GST Council to decide rate of Service tax today
Posted Date : 19-May-2017 , 09:46:07 am | Posted By CASANSAAR
Foodgrains and common-use products like hair oil, soaps, toothpaste and also the electricity will cost less from July first after the implementation of nation-wide Goods and Service Tax.
The GST rates for all 1,211 items but six were finalised, yesterday, at the first day of the two-day mee...
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GST Council clears all 9 rules for new tax regime at Srinagar meeting
Posted Date : 19-May-2017 , 09:16:12 am | Posted By CASANSAAR
On day one of its crucial meeting in Srinagar, Jammu & Kashmir, the Goods and Services Tax (GST) Council on Thursday approved all nine rules for the rollout of the new indirect tax regime. The nine rules finalised by the council pertain to composition, valuation, transition, input tax credit, in...
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81% items to be taxed below 18% rate under GST - Govt
Posted Date : 18-May-2017 , 10:16:57 pm | Posted By CASANSAAR
The Goods and Services Council today finalised tax rates for 1,211 items with a majority of items being kept at under 18 per cent rates.
"GST Council today approved 7 GST rules in a meeting held in Srinagar, while legal committee is looking at remaining 2 GST rules ( return, tran...
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GST Council meets today to deliberate on tax rates for commodities and services
Posted Date : 18-May-2017 , 08:50:07 am | Posted By CASANSAAR
The Goods and Service Tax, GST Council will meet today in Srinagar to deliberate on tax rates on commodities and services. The meeting will be chaired by Union Finance Minister Arun Jaitley and it will be attended by the Finance Ministers of all States and Union Territories.
AIR correspondent rep...
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Govt to strengthen agency under GST to check tax evasion
Posted Date : 17-May-2017 , 08:22:40 am | Posted By CASANSAAR
Ahead of the planned GST rollout from July 1, the government is strengthening the body responsible for detecting tax evasion and will set up two new agencies, including one for business intelligence and analytics.
With the goods and service tax (GST) subsuming central levies like excise dut...
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GST registration set to re-open on June 1
Posted Date : 12-May-2017 , 09:46:20 am | Posted By CASANSAAR
With one-fourth of taxpayers yet to enrol for the Goods and Services Tax (GST), the government has decided to reopen the I-T?window from June 1 for 15 days, so as to help firms switch over to the new regime from July, said Revenue Secretary Hasmukh Adhia.
GST is set to roll out from July 1, and 6...
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Revenue Secretary reviews IT preparedness for GST roll-out
Posted Date : 11-May-2017 , 08:07:25 pm | Posted By CASANSAAR
Revenue Secretary Hasmukh Adhia today held detailed review of IT-Preparedness for the roll-out of Goods and Services Tax (GST) from 1st of July this year.
Mr Adhia also reviewed GST System preparedness of Goods and Services Tax Network and Central Board of Excise and Customs. He expressed s...
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GST enrolment to restart in a few weeks: FinMin
Posted Date : 10-May-2017 , 08:08:22 am | Posted By CASANSAAR
The process to enrol taxpayers on the Goods and Services Tax Network (GSTN) portal, which was suspended on April 30, will start again in a few weeks, the revenue department said today.
More than 60 lakh taxpayers enrolled on the GST portal between November 8, 2016 and April 30, 2017.
The enrol...
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GST professionals getting huge salary hikes ahead of tax roll out
Posted Date : 09-May-2017 , 10:35:25 am | Posted By CASANSAAR
As salary increments across Indian industries fall to, on average, single-digit percentage figures, goods and services tax (GST) professionals are bucking the trend, taking home hefty mid-term bonuses and increments for moving within the organisation into the GST team.
GST, the nation's...
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Quarterly filing of returns not workable under GST - FM
Posted Date : 09-May-2017 , 10:30:59 am | Posted By CASANSAAR
Finance Minister Arun Jaitley on Monday said that the quarterly filing of returns under the Goods and Services Tax (GST) was not workable for taxpayers above Rs 50 lakh turnover.
"For all tax payers it is not workable to have quarterly return because input tax credit has to be given ev...
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Goods And Services Tax scheduled for July 1 Rollout - FM
Posted Date : 09-May-2017 , 10:25:41 am | Posted By CASANSAAR
The Goods and Services Tax (GST) is on schedule for implementation from July 1 and will not lead to any significant increase in prices of goods although cost of some services may see a marginal hike, Finance Minister Arun Jaitley said today.
Hailed as the biggest tax reform since India'...
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