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too many clamps still in goods and services tax rules - Search

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too many clamps still in goods and services tax rules




in its 26th meeting, the goods and services tax (gst) council decided to defer implementation of e-wallets for exporters, introduce a new return filing system, the reverse charge mechanism for certain types of transactions and tax deduction/collection at source, and introduce e-way bills for inter-s...



deciphering the different gst classifications




when the gst system was introduced in 2000 it was made more complex than was originally intended. this was because, in order to get the legislation through, the howard government was forced to exclude some goods and services from the 10 per cent tax, rather than having  gst applied to all goods an...



gst rules changed on refund claims




the finance ministry has decided that applications/documents/forms pertaining to refund claims on account of certain zero-rated supplies shall be filed and processed manually till further orders. last wednesday, notification 55//2017–central tax was issued, amending the central goods and services ...



gst council meeting live: fm arun jaitley chairs 26th meeting today




gst council meeting: the agenda for discussion, ministry sources said, would also include the extension of 3b returns, the current position of revenue generated from the gst, and changes in the anti-profiteering rules. govt eases norms for e-way bill generation   the government has changed e-way bi...



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govt can exempt supplies of goods/services from gst levy in public interest




while the government and citizens countdown the implementation of the goods and services tax (gst) which begins across the country on friday, july 1, a provision of the gst law empowers the central and the state governments to exempt supplies from the levy of gst in public interest.the central or st...



goods import: will payment to an agent for customs duty attract gst?




i intend to import goods from outside india. will payment to a customs house agent (cha) for customs duty attract goods and services tax (gst)? no, since the cha is acting as a pure agent of the importer. however, the service charges, if any, levied by the cha towards his services shall be leviable ...



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tn moves state gst bill for uniform tax




the aiadmk government, which initially opposed centre's proposal to introduce new goods and services tax (gst), on wednesday moved a bill called tamil nadu goods and services tax 2017 to make a provision for levy and collection of uniform tax across the state.while tabling the bill, the minister for...



gst under revenue department | business standard news




work relating to the financial action task force (fatf) has been moved out of economic affairs to the revenue department, according to a recent official order. fatf is an inter-governmental global body that sets standards and promotes the implementation of measures for combating money laundering, te...



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gst to be 5% on footwear below rs 500, 18% on rest




footwear below rs 500 will be taxed at 5 per cent under the goods and services tax, while the rest would be in the 18 per cent bracket once the new regime is rolled out from july 1. gold, on the other hand, will be taxed at 3 per cent and biscuits at 18 per cent.the gst council, chaired by finance m...



gst council clears rules, states agree to july 1 rollout




the gst council today cleared the pending rules, including transition provisions and returns, with all the states agreeing to july 1 roll out of the goods and services tax."we were discussing the rules and (they) have been completed. transition rules have been cleared and everybody has agreed for ju...



gst rates will have no inflationary impact: jaitley




allaying apprehension of spike in prices of goods and commodities after the roll out of the gst, finance minister arun jaitley today said the tax rates will be kept at the current levels so as not to have any inflationary impact.introducing four bills to give effect to the goods and services tax (gs...



gst rules eased for goods movement for approval-based sale, jewellers cheer




the government has relaxed the good and services tax (gst) rules for movement of goods, including jewellery, within a state or outside along with an e-way bill, for sale on an approval basis. such movements take place even for business exhibitions and such events where actual sale may or may not hap...



news digest: gst council meet, reliance jio, electricity prices, and more




gst council meet: 83 items to get cheaper, filing of returns may be eased barely a fortnight to budget 2018, the goods and services tax (gst) council on thursday cut rates on 83 employment-oriented goods and services. this will hit the exchequer by rs 10-12 billion annually.



news digest: gst rates cut,tata sons,black money, hul, and more




budget 2018: council may cut gst rates for 70 items; 40 on revision list a fortnight ahead of the union budget, the goods and services tax (gst) council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. amendment in rules may also be taken up to simp...



jittery over govt's anti-profiteering drive under gst, firms may move court




anxious over the government's anti-profiteering drive under the goods and services tax regime, companies in the segments of fast-moving consumer goods (fmcg) and information technology (it) software are planning to petition the high courts in delhi and mumbai, seeking more clarity on the clause. whi...



shun chinese goods, enact 'buy indian act': rss body to govt




an rss-affiliate today suggested shunning of chinese goods and called for passing of "buy indian act" to give a boost to domestic production.citing the "buy american act of 1933" which requires the united states government to prefer us-made products in its purchases, the swadeshi jagran manch (sjm) ...



saving the gst | business standard news




revenue secretary hasmukh adhia has said in an interview that “there is need for some rejig in rates” of the goods and services tax (gst). in what seems to be a candid admission of how the execution of the gst in the past four months has been bedevilled with many flawed ideas, mr adhia has also ...