Goods and Services tax

GST collection grows 9% to Rs 1.87 lakh crore in October

Sat, Nov 02, 2024

Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.

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GSTN to launch invoice management system from October 1

Tue, Sep 03, 2024

In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched.

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Government rolling out pan-India biometric authentication to prevent GST fraud

Sat, Jun 22, 2024

Two pilot projects for biometric authentication have already been carried out successfully and now the facility will be rolled out nationwide in a phased manner, the Finance Minister said at a press conference.

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Over 43 lakh businesses file initial GST returns for October

Wed, Nov 22, 2017

As many as 43.67 lakh businesses have filed the initial GSTR-3B returns for the month of October -- the highest monthly return filing within due date, GST Network said today. The last date of GSTR-3B filing, which is the initial sales return, for October was yesterday.

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FMCG firms slash prices post GST reduction

Wed, Nov 22, 2017

FMCG companies, including ITC, Dabur, HUL and Marico, today said they have cut prices of various products to pass on the benefits of GST rate reduction to end-consumers.

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From GST to bank reforms, here's what Arvind Subramanian said about Indian economy

Tue, Nov 21, 2017

Talking on list of factors in regards to Indian economy, the CEA Arvind Subramanian laid out various measures which the government can adapt for the country's long term prosperity.

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Prices of Fridge, AC & washing machines may soon become cheaper

Mon, Nov 20, 2017

Since its inception on July 01, 2017, GST has undergone various revision. There are five tax slabs under this regime namely - 0%, 5%, 12%, 18% and 28%.  

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High Court judges, experts brainstorm on likely GST litigations

Sun, Nov 19, 2017

Top domain experts and officials from the GST Intelligence and the Central Board of Excise and Customs (CBEC) briefed judges about the new tax system recently, according to documents available in the public domain.

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Ensure GST composition taxpayers don't tax customers: Haryana

Sat, Nov 18, 2017

These directions were issued to all joint excise and taxation commissioners (Range/Appeals) and deputy excise and taxation commissioners (sales tax) for monitoring and enforcement of provisions relating to composition taxpayers under the Goods and Services Tax (GST), a spokesman of the department said.

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Revenue collected under GST in October at Rs 95,000 crore

Sat, Nov 18, 2017

Modi, who heads the Group of Ministers (GoM) on GST Network, said the average revenue shortfall of all states for August was 28.4 per cent and it has come down to 17.6 per cent in October.

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GST, Direct Benefit Transfer, demonetisation to ‘foster sustainable growth’ in India, Moody’s says

Fri, Nov 17, 2017

Recent reforms undertaken by the government of India provided 'greater confidence' that the high level of public indebtedness which is India's principal credit weakness will remain stable, Moody's said.  

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Anti-profiteering authority to be set up under GST

Fri, Nov 17, 2017

The Union Cabinet on Thursday approved the setting up of the anti-profiteering authority under the Goods and Services Tax (GST) regime in a bid to ensure that the benefit of lower rates is passed on to consumers.

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Moody's raises India's bond rating, expects reforms to foster growth

Fri, Nov 17, 2017

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GST's new rate structure: Is it momentary or long-term?

Thu, Nov 16, 2017

Since its inception on July 01, 2017, GST has undergone various revision. The recent one would be 178 items brought down under tax slab of 18%, 12% and 5% from the higher slab of 28% effective from November 15, 2017.  

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High Court questions 12% GST on sanitary napkins

Thu, Nov 16, 2017

The Delhi High Court on Wednesday questioned the central government`s decision to impose 12 per cent tax on sanitary napkins under the GST regime, saying it has exempted "bindi, kajal, sindoor" which seem more essential than sanitary napkins.

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Lower GST rates on restaurants, 178 goods become effective

Wed, Nov 15, 2017

The GST has been cut on a host of consumer items. Only 50 products, including luxury and sin items, white goods, cement and paints, automobiles, washing machines, air conditioners, aeroplane and yacht parts have been retained in the top 28 per cent slab.

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GST rate cut: Here’s what may get cheaper from tomorrow

Tue, Nov 14, 2017

Taxes on a staggering 178 items have been cut which will come into effect from midnight. We give you a complete list of what goods may get cheaper. 

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GST Council: Import of specific sports good exempted from IGST

Sun, Nov 12, 2017

On November 10, the GST Council cut tax rates of over 175 products that were in the highest tax slab of 28% under the regime.

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GST Council: Annual turnover of composition scheme will be increased to Rs 2 crore

Sat, Nov 11, 2017

On November 10, the GST Council cut tax rates of over 175 products that were in the highest tax slab of 28% under the regime. Currently only 50 items have been left in the 28% category out of a total of 227 items that were present earlier.    

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Festive demand and waning impact of GST may push IIP higher in coming months

Sat, Nov 11, 2017

 IIP for the month of September surprised markets by coming at 3.8% lower than their expectations of 4.2%. 

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GST recommendations will benefit people, strengthen tax structure: Modi

Sat, Nov 11, 2017

"The recommendations made by the GST Council today will further benefit our citizens and add strength to the GST. These recommendations are in spirit of the continuous feedback we are getting from various stakeholders on GST," Modi said in a series of tweets.

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Here is the impact of Goods and Services Tax on home loan customers

Fri, Nov 10, 2017

If you are willing to get a home loan in the future, it is extremely important to understand the impact of the Goods and Services Tax (GST) that came into effect on 1 July 2017 in India.

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GST Council cuts rates on over 175 products, keeps only 50 items in 28% slab

Fri, Nov 10, 2017

The GST Council on Friday cut tax rates of over 175 products that were in the highest tax slab of 28% under the Goods and Services Tax (GST) regime.   Currently only 50 items have been left in the 28% category out of a total of 227 items that were present earlier.

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