Feb 01, 2019, at 04:46 pm
New Delhi, Feb 1 (IBNS): The Goods and Services Tax (GST) reforms has resulted in increased tax base, higher collections and ease of trade, Union Finance Minister Piyush Goyal said on Friday.
Arun Jaitley announces doubling of tax exemption limit for small businesses
Jan 10, 2019, at 04:44 pm
New Delhi, Jan 10 (IBNS): In a bid to woo a certain section of the people ahead of the 2019 General Elections, the central government on Thursday announced a doubling of tax exemption limit for all small businesses, media reports said.
GST collection touches Rs. 94,726 crore in December
Jan 01, 2019, at 05:01 pm
New Delhi, Jan 1 (IBNS): GST collection dropped to touch Rs. 94,726 crore in December than its previous month, official government data released on Tuesday said.
Sensex slumps 400 points, Hindustan Unilever share price falls by 2.32 pc
Dec 26, 2018, at 12:31 pm
Mumbai, Dec 27 (IBNS) : A day after the National Anti-Profiteering Auhority, (NAA) slapped a Rs. 383-crore fine on the grounds of not passing benefits of GST rate cuts to consumers, shares of Hindustan Unilever Ltd fell as much as 2.32 per cent to Rs 1,742 per share on Wednesday as Indian benchmark indices BSE Sensex and NSE’s Nifty 50 declined over 1 per cent for the fourth consecutive session with global stock market remaining under pressure over global political uncertainties, reports said.
Govt extends due date for filing form GSTR-9, form GSTR-9A and form GSTR-9C extended till Mar 31
Dec 10, 2018, at 03:53 pm
New Delhi, Dec 10 (IBNS): The Indian government on Monday said it has decided to extend the due date for filing form GSTR-9, form GSTR-9A and form GSTR-9C till Mar 31.
Centre collects Rs. 97,637 crore as GST revenue
Dec 01, 2018, at 06:07 pm
New Delhi, Dec 1 (IBNS): The total gross GST revenue collected in the month of November, 2018 is Rs. 97,637 crore of which CGST is Rs. 16,812 crore, SGST is Rs. 23,070 crore, IGST is Rs. 49,726 crore (including Rs. 24,133crore collected on imports) and Cess is Rs. 8,031 crore(including Rs. 842crore collected on imports).
Australia to invest USD 100 billion into India by 2035: Aussie diplomat
Sep 21, 2018, at 11:03 am
Kolkata, Sep 21 (IBNS): Australian Deputy High Commissioner to India, Rod Hilton, on Thursday said that the country is looking forward to invest over USD 100 billion in different high-growth sectors into India by 2035.
Indian government reduces GST rates in 88 items, sanitary napkins exempted
Jul 21, 2018, at 11:43 pm
New Delhi, July 21 (IBNS): In a bid to appeal the middle class and businessmen and with an eye kept on the Lok Sabha polls next year, the Indian government on Saturday slashed Goods and Services Tax (GST) rates on several products.
GST Council approves proposal to open migration window for tax payers till Aug 31
Jul 21, 2018, at 11:21 pm
New Delhi, July 21 (IBNS): The GST Council in its 28th meeting held here on Saturday approved the proposal to open the migration window for taxpayers, who received provisional IDs but could not complete the migration process.
GST revenue collection in June moves up to touch Rs 95,610 lakh crore: Govt
Jul 01, 2018, at 11:07 pm
New Delhi, July 1 (IBNS): Revenue collection from Goods and Services Tax (GST) moved up to touch Rs. 95,610 lakh crore in June, revealed a government data released on Sunday.
GST revenue collection in the month of April 2018 exceeds Rs. 1 lakh crore mark: Centre
May 01, 2018, at 09:02 pm
New Delhi, May 1 (IBNS): For the first time since its inception in July last year, the Centre on Tuesday said the revenue collected towards Goods and Services Tax (GST) for the month of April 2018 crossed the Rs 1 lakh crore mark.
Union Finance Ministry says Rs. 7.19 lakh crore collected under GST between Aug 2017 and Mar 2018
Apr 27, 2018, at 06:21 pm
New Delhi, Apr 27 (IBNS): The Union Ministry of Finance, on Friday, published details about the Goods and Services Tax (GST) revenue collections for the Financial Year 2017-18, which revealed that total revenue of Rs. 7.19 lakh crore has been collected under GST between August 2017 and March 2018.
A simple approach in learning about GST Payments :
Mar 22, 2018, at 02:56 am
Normally as soon as, you are done with GSTR-1 and GSTR-2, GSTR-3 asks you to proceed for GST payments. But upto 31-03-2018 GST needs to be paid along with GSTR-3B Return filing. (Amendments: Which has now been extended till June 2018). One can also claim refunds by filing online all the applicable refund forms.
India races ahead of China to become fastest growing economy with 7.2 percent
Mar 01, 2018, at 03:17 am
New Delhi, Feb 28 (IBNS): India has once again raced ahead of China to become the fastest growing economy in October-December quarter.
GST collection for January stood at Rs. 86,318 crore
Feb 28, 2018, at 02:16 am
New Delhi, Feb 27 (IBNS): The Indian government on Tuesday said it has collected a total revenue under GST for the month of January, till Feb 25 at Rs 86,318 crore.
Feb 22, 2018, at 06:21 pm
With the introduction of Goods & Service Tax, taxpayers are now required to fulfill a set of compliances which mandates them to file multiple returns for each Financial Year. Some of these are monthly requirements where details regarding invoices raised as well as received has to be filed with the GSTN. And as an repository of data for the taxpayers GSTN will make sure that all these information could be accessed whenever required in future. Helping you with a better understanding of the procedure of GST return filing, let us start with the basic comprehension of the concepts pertaining to the newly rolled out Indirect tax of Goods & Service Tax.
GST Council recommendations for Housing sector to promote affordable housing for masses
Feb 07, 2018, at 08:28 pm
New Delhi, Feb 7 (IBNS): The Union Finance Ministry announced on Wednesday that in its 25th Meeting held on January 18, 2018, the Goods and Services Tax (GST) Council had made several important recommendations for the Housing Sector.
GST Council has recommended relief for RWA members, amusement park, circus, etc
Feb 07, 2018, at 08:20 pm
New Delhi, Feb 7 (IBNS): The Union Ministry of Finance, on Wednesday, announced that the Goods and Service Tax (GST) Council has recommended several measures granting relief from GST on a number of goods and services during its meeting held on Jan 18, 2018.
GST data reveals 50% increase in number of Indirect Taxpayers
Jan 30, 2018, at 12:07 am
New Delhi, Jan 29 (IBNS): A preliminary analysis of the Goods and Services Tax (GST) data reveals that there has been a 50% increase in the number of indirect taxpayers, besides a large increase in voluntary registrations, especially by small enterprises that buy from large enterprises and want to avail themselves of Input Tax Credits (ITC).
ITC reports net profit up 16.8 per cent in December quarter
Jan 19, 2018, at 08:30 pm
Kolkata, Jan 19 (IBNS): ITC Limited, the Indian conglomerate with diversified business segments, reported its financial results for the quarter ended December 31, 2017 on Friday.
ASSOCHAM seeks higher outlay for education in Budget
Jan 17, 2018, at 10:16 pm
New Delhi, Jan 17 (IBNS): Seeking enhanced outlay for education in the coming Budget, the ASSOCHAM has sent a communication to the Finance Minister Arun Jaitley, also making out a case for relief to higher education under Goods and Services Tax (GST).
The Bengal Chamber organises 'Trade & Logistics Conclave post GST regime'
Jan 11, 2018, at 09:02 pm
Kolkata, Jan 11 (IBNS): To establish a thread between Logistics, International Trade and Metals via GST, Kolkata-based Bengal Chamber organised a 'Trade & Logistics Conclave Post GST Regime' recently at the Chamber premises.
GST collections fall to Rs 80,808 cr
Dec 27, 2017, at 12:48 am
New Delhi, Dec 26 (IBNS): The Indian government on Tuesday said the total revenue collection under Goods and Services Tax (GST) for the month of December stood at Rs 80,808 crore.
Cut corporate tax; raise exemption limits for salaried employees: ASSOCHAM to FM
Dec 08, 2017, at 10:28 pm
New Delhi, Dec 8 (IBNS): Making out a strong case for slashing of corporate tax to 25 per cent, the ASSOCHAM President Sandeep Jajodia said in his presentation before Finance Minister Arun Jaitley tax exemption limits for senior citizens and salaried employees should be also raised substantially for a demand push to the economy.
Fix GST rates for hydropower at par with wind and solar: ASSOCHAM plea
Dec 01, 2017, at 08:59 pm
New Delhi, Dec 1 (IBNS): Apex industry body ASSOCHAM has urged the Centre to fix Goods and Services Tax (GST) rates for hydropower at par with wind and solar so that value added cost and tax are commensurate for all renewable power projects.
Nov 29, 2017, at 10:57 pm
Kolkata, Nov 29 (IBNS): Union Minister of State for Finance Shiv Pratap Shukla said that around 9 crore 56 lakhs people have been provided self-employment under the various welfare schemes like Make In India, Start Up India, Stand Up India, Mudra and several other schemes launched by the Central government under the leadership of Prime Minister Narendra Modi.He was speaking at the 116th Annual Session of Merchants’ Chamber of Commerce and Industry (MCCI) here in the city on Wednesday.
GST reshaping FMCG logistics into modern business, says study
Nov 29, 2017, at 10:06 pm
New Delhi, Nov 29 (IBNS): Trade and industry may have faced teething troubles from the Goods and Services Tax (GST) but the entire business landscape of FMCG (fast moving consumer goods), retail and logistics is going to be transforming into modern and efficient model with introduction of uniform tax regime, says a joint study by ASSOCHAM-MRSS India.
Cabinet approves the establishment of the National Anti-profiteering Authority under GST
Nov 16, 2017, at 09:59 pm
New Delhi, Nov 16 (IBNS): Union Cabinet chaired by Prime Minister Narendra Modi has given its approval for the creation of the posts of Chairman and Technical Members of the National Anti-profiteering Authority (NAA) under GST, following up immediately on yesterday's sharp reduction in the GST rates of a large number of items of mass consumption.
GST implementation caused ‘temporary slowdown’: ASSOCHAM-EY study
Nov 13, 2017, at 09:34 pm
New Delhi, Nov 13 (IBNS): After its launch in July 2017, there has been a temporary slowdown post implementation of Goods and Services Tax (GST) even though Government of India has ideated and implemented a number of initiatives to improve business conduciveness, noted a recent ASSOCHAM-EY joint study.
GST Council reduces tax rate on 177 items from 28 per cent to 18 per cent
Nov 10, 2017, at 11:55 pm
Guwahati, Nov 10 (IBNS): The Goods and Services Tax (GST) Council on Friday decided to reduce the tax rate on 177 items from 28 per cent to 18 per cent offering major relief to the consumers and businessmen.