Goods And Services Tax

A Dampened Deepavali In Tamil Nadu, Hit By GST And Demonetisation

Tamil Nadu News | Written by Sam Daniel Stalin | Thursday October 19, 2017

With a nearly 40 per cent dip in cracker sales, Tamil Nadu saw a rather silent Deepavali this year. Traders say the impact of the Goods and Services Tax or GST and demonetisation appeared to have played a part in the dampened festivities in the state.

Indian Economy On A "Very Solid Track" Says IMF Chief Lagarde

Press Trust of India | Sunday October 15, 2017

Christine Lagarde described demonetisation and Goods and Services Tax (GST) - as a monumental effort by India.

India Has High Growth Potential For Next 2 Decades, Says Arun Jaitley

India News | Press Trust of India | Saturday October 14, 2017

Finance Minister Arun Jaitley said on Friday that India has the potential to grow at a reasonably high level in the next decade or two, citing structural changes by the government and a turnaround in the global economy.

Slowdown Effect Of GST, Notes Ban Has Played Out: Arun Jaitley

India News | Indo-Asian News Service | Friday October 13, 2017

Finance Minister Arun Jaitley today said the slowdown effect of demonetisation and GST roll-out on the Indian economy has played out and the country's growth is now headed towards being more balanced and sustainable.

GST Is Damaging Assam's Ailing Handicrafts Industry, Say Artisans

India News | Written by Ratnadip Choudhury | Friday October 13, 2017

After machine-made alternatives and cheaper Chinese products hurt the cane and bamboo handicrafts industry in Assam, the artisans have a new worry -- the Goods and Services Tax (GST). They claim they are already suffering huge losses and now the GST seems to be "pushing the cottage industry towards near extinction".

Positive Mood About India Here, Says Arun Jaitley In US

India News | Press Trust of India | Friday October 13, 2017

There is a "positive mood" about India in the US and American investors have a clear understanding of the reforms that the government has set in motion to expand the economy, Finance Minister Arun Jaitley has said

GST Will Not Exceed 18% Once Rahul Gandhi Becomes PM: Raj Babbar

India News | Press Trust of India | Thursday October 12, 2017

Uttar Pradesh Congress chief Raj Babbar has said that the Goods and Services Tax or GST would be reviewed once party vice-president Rahul Gandhi becomes the prime minister and that it would not exceed 18 per cent.

GST Deadline Ends, 40 Lakh Businesses File Returns For July

India News | Written by Oineetom Ojah | Wednesday October 11, 2017

Filings under the Goods and Services Tax or GST continue to be below expectations, data shows. Out of a total 65 lakh taxpayers registered under the GST, only 40 lakh have filed returns under GSTR-1 for July. October 10 was the deadline to complete GSTR-1 filings for July

Job Cuts, Cash Crunch, All Because Of GST, Say Kashmir's Carpet Traders

India News | Written by Nazir Masoodi | Tuesday October 10, 2017

Carpet and other handicraft items had been tax free in Kashmir valley, but weavers will have to pay 12 per cent tax under the Goods and Services Tax. Carpet traders say GST on handicraft is actually taxing labourers because 80 per cent of what goes as cost into making handmade carpets are actually months and sometimes years of hard work that weaver...

Transition To GST Fairly Smooth Despite Attempts To Derail It: Arun Jaitley

India News | Press Trust of India | Tuesday October 10, 2017

India's transition to the Goods and Services Tax regime has been "fairly smooth" despite attempts by "ill-informed" Opposition leaders to derail its implementation, Finance Minister Arun Jaitley has said.

'Attempts To Derail' GST Have Failed, Says Finance Minister Arun Jaitley

India News | Press Trust of India | Tuesday October 10, 2017

Despite "attempts to derail" the recently introduced Goods and Services Tax or GST, the states are adopting the new regime at a fast pace, Finance Minister Arun Jaitley has said.

GST Rates Slashed To Appease Voters Ahead Of Gujarat Polls: Shiv Sena

India News | Press Trust of India | Monday October 9, 2017

The Shiv Sena today alleged that the Centre slashed the Goods and Services Tax (GST) rates on certain items of common consumption to appease voters ahead of the Gujarat Assembly elections.

Last Day To File Final July GST Returns Is Tomorrow

Business | Press Trust of India | Monday October 9, 2017

"There will be no further extension given to taxpayers for filing their GSTR-1 return for July," said government.

Prices May Be Hit As Truckers Start 2-Day Strike Demanding GST On Diesel

India News | Edited by Abhishek Chakraborty | Monday October 9, 2017

Truck operators have begun their two-day nationwide strike to protest against the Goods and Services Tax or GST, diesel price hike and corruption on roads. The truckers' 2 day strike has been organised by truckers' association All India Motor Transport Congress (AIMTC).

GST, Demonetisation Having The Desired Impact: Arun Jaitley

India News | Press Trust of India | Sunday October 8, 2017

The Narendra Modi government's initiatives like Swachh Bharat, Goods and Services Tax (GST) and demonetisation are having desired impact, with the latter two resulting in increasing tax compliance and squeezing quantum of cash in the economy, Finance Minister Arun Jaitley has said.

GST Revision 'Utterly Fails' To Solve Problems, Says Congress

India News | Edited By Aloke Tikku | Saturday October 7, 2017

Keeping up the pressure on the government for the disruption caused due to the Goods and Services Tax, the Congress on Saturday welcomed the "interim relief" cleared by the GST council yesterday but stressed the government had "utterly failed" to address the structural problems of the tax regime.

Government Rolled Out GST In A Hurry: Salman Khurshid

India News | Press Trust of India | Saturday October 7, 2017

Congress leader Salman Khurshid today said the government has rolled out the Goods and Services Tax or GST in a "hurry" and has been changing the rules "everyday"

Tweet From Handle Set Up To Answer GST-Related Questions Has Many Amused

Offbeat | NDTV Offbeat Desk | Saturday October 7, 2017

In May, the government set up an official Twitter handle to answer questions related to the new Goods and Services Tax (GST). But it's a cryptic tweet, now deleted, that got the Internet's attention on Saturday.

Bring Petrol, Diesel Under GST Regime: Rahul Gandhi To Government

India News | Press Trust of India | Saturday October 7, 2017

Congress Vice President Rahul Gandhi demanded that petrol and diesel be brought under the Goods and Services Tax regime to prevent "excessive profiteering".

Major Changes To GST To Help Small Companies, Exporters: 10 Points

India News | Edited By Aloke Tikku | Saturday October 7, 2017

Three months after rolling out the Goods and Services Tax, the GST council on Friday carried out major changes to the new national tax regime to ease compliance norms for small and medium companies and reduced tax rates on nearly two dozen items. Finance Minister Arun Jaitley, who heads the council, also announced businesses with a turnover of up t...

Key GST Changes Expected For Relief To Businesses Today: 10 Points

India News | Reported by Oineetom Ojah, Edited by Arun Nair | Friday October 6, 2017

A day-long meeting of the powerful GST council to revisit compliance rules for businesses and make what have been described as "structural changes" in the new national tax regime, has concluded. The review comes after feedback and complaints from businesses and amid criticism from the opposition over the way GST has been implemented. The focus toda...

This Friday, Producers Won't Release Tamil Films Over Tax Demand

Tamil Nadu News | Edited By Debanish Achom | Wednesday October 4, 2017

The Tamil Film Producers Council has said it will not release Tamil movies starting Friday in protest against the levy of 10 per cent local body tax. They said the local body tax puts a strain on their finances as they are already paying 28 per cent Goods and Services Tax on films

Durga Idols Get Smaller, Puja Menus Slimmer: GST, Demonetisation Effect?

India News | Written by Monideepa Banerjie | Friday September 29, 2017

Durga Puja in Kolkata this time was all about Laxmi or money or rather the lack of it. And the villain of the piece? Many say it was demonetization and Goods and Services Tax or GST. Budgets have been slashed as sponsors and advertisers didn't have money or were too busy meeting GST deadlines.

Arun Jaitley Holds Key Meet On GST Glitches: 10 Points

India News | Reported by Oineetom Ojah, Himanshu Shekhar Mishra, Edited by Shuchi Shukla | Thursday September 28, 2017

Industry bodies and exporters raised their concerns about the Goods and Services Tax, including filing tax returns and timely refund of duties, with Union Finance Minister Arun Jaitley today. The meeting, meant to discuss fixing glitches in the implementation of the mega tax reform, was also attended by the chief of the Goods and Services Tax Netwo...

Arun Jaitley To Meet Industry, Exporters On GST Issues Today

India News | Press Trust of India | Thursday September 28, 2017

Finance Minister Arun Jaitley will meet industry representatives, including exporters today, to deliberate upon the problems being faced by them with regard to the Goods and Services Tax (GST), industry sources said yesterday.

GST Cess: Ford Endeavour To Become More Expensive

CarAndBike Team | Tuesday September 26, 2017

Price of Endeavour has gone up in the range of Rs 1.2 lakh to Rs 1.8 lakh depending on the variant, while the impact on company's other models has not been much.

PM Modi Has Limited Options In Quest To Reverse Economic Slowdown

Business | Vrishti Beniwal, Anirban Nag, Bloomberg | Tuesday September 26, 2017

Growth in Asia's third-largest economy has been slowing for the past five quarters, blamed by experts on a chaotic roll out of the goods and services tax and a surprise ban on currency notes to pin down tax evaders.

GST Biggest Economic Reform Since Independence, Says BJP At Big Meet: 10 Points

India News | Reported by Sunetra Choudhury | Monday September 25, 2017

BJP chief Amit Shah this morning thanked Prime Minister Narendra Modi for resolving the Doklam standoff with China and praised Foreign Minister Sushma Swaraj for her speech attacking Pakistan over terrorism at the United Nations General Assembly on the weekend, as he highlighted the BJP government's achievements at a meeting of the party's national...

'No Major Impact Of GST,' Say Kolkata Hoteliers In Run-Up To Durga Puja

Kolkata News | Press Trust of India | Monday September 25, 2017

The Goods and Services Tax (GST) hasn't affected diners in Kolkata in the run-up to the Durga Puja, officials of fine dining restaurants and hotels said.

Deadline To File Transitional Credit Under GST Extended Till October 31

Business | Indo-Asian News Service | Friday September 22, 2017

For the time being, taxpayers can breathe a sigh of relief, said an expert.