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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GST Council reduces tax rates on 27 goods, approves quarterly return filing

Sat, Oct 07, 2017

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GST council meet: These categories saw reduction in rates

Fri, Oct 06, 2017

While providing relief to exporters and SMEs, the GST council also changed the tax rate for a number items involving medicines, stationary items, packaged foods and handicrafts, etc. 

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No PAN, Aadhaar details for jewellery above Rs 50,000: GST council

Fri, Oct 06, 2017

Under the 22nd GST Council Meeting chaired by FM Arun Jaitley, the government decided not to make Aadhaar and PAN mandatory for purchase of high value goods like jewellery. 

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Q2FY18 preview: India Inc to see another moderate quarter

Thu, Oct 05, 2017

India Inc has been performing on single-digit growth since the past few quarters, and looks like the second quarter of fiscal year 2017-18 (Q2FY18) will be no different.

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Challenges higher for MSMEs while India Inc transits to GST regime; Banks key saviour

Thu, Oct 05, 2017

GST has been launched since July 01, 2017 and revenue collection from this regime have reached to Rs 90,669 crore. However, many industry and exporters face great challenge while transiting towards this regime.   

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GST bites as Honda, Fiat increase price of cars post hike in cess

Fri, Sep 15, 2017

Post hike in the cess announced by the GST Council, automakers have revised prices on some of their vehicles.   

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Fewer people are buying flash drives post GST, internal memory expansion in smartphones

Thu, Sep 14, 2017

The flash memory market in India has started to decline with smartphones that have now increased internal memory spaces and rollout of GST.  

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Spike in petrol, diesel price fail to arrest car, two-wheeler sales

Thu, Sep 14, 2017

With the growing fuel prices, car and two-wheeler sales in India also garner a 15% increase in the July-August period.

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Direct tax collections: Did demonetisation, GST slow personal income tax growth?

Tue, Sep 12, 2017

Four months into this fiscal year and the direct tax collections may have increased but the percentage of personal income tax growth was less than half of the year ago period.

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Finance Ministry considering auto makers concern on hike in GST cess

Thu, Sep 07, 2017

Finance Minister Arun Jaitley is "seriously" considering the demand of automobile manufacturers which have raised concerns over rise in cess on luxury vehicles, Union Heavy Industries Minister Anant Geete said today.

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GST collection tops Rs 94,000 crore for July from 44 lakh biz

Thu, Sep 07, 2017

Finance Minister Arun Jaitley had last week stated that 38.38 lakh businesses had filed their returns and paid Rs 92,283 crore in taxes for the month of July - the first month of implementation of independent India's biggest tax reform, the GST.

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'Weak investment demand bigger challenge than GST, noteban'

Wed, Sep 06, 2017

India's economic activity lost momentum in the June quarter and critics blamed GST as well as demonetisation for the slip, but its weak investment demand that is a bigger challenge, experts say.

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India's Q1FY18 GDP: What will be the numbers this time?

Thu, Aug 31, 2017

 GDP numbers of first quarter of FY18 will be announced on August 31, analysts believe the growth will be better compared to previous quarter. However, the economy will see some impact of GST implementation. 

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India's GDP defied demonetisation impact earlier; will it escape uncertainties of GST in Q1FY18?

Wed, Aug 30, 2017

Last quarter of FY17 showcased that indicators of Gross Valua Added (GVA) have defied the impact of demonetisation. This time GST is in picture and analysts and economists feel Q1FY18 economy numbers may not escape its affect.

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Sales growth slows but profits of India Inc in first quarter fall

Mon, Aug 21, 2017

Large companies accounted for over 75% of the share in terms of total net sales but they recorded lower net profits of about 23.2% y-o-y in Q1 FY18. Those at the lower end of the size scales witnessed negative growth in both sales and profit.

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GST return filing date extended for taxpayers availing input credit

Fri, Aug 18, 2017

As per the laid down rules, the GST for the month of July 2017 has to be paid by August 20, 2017, only after which the payment of full GST return through "Form 3B" can be filed. The deadline for filing the "Form 3B" has been extended till August 28, 2017. 

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June IIP: Here's what analysts expect

Fri, Aug 11, 2017

IIP stood at 1.7% on year-on-year basis in May 2017, following a 2.8% rise in the April 2017 and was also below market expectations.

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Colgate Palmolive's Q1 net profit at Rs 136 crore; toothpaste volume market share at 54.3%

Thu, Aug 03, 2017

Colgate reported net profit of Rs 136.38 crore, rising by 8.93% compared to Rs 125.19 crore in the corresponding period of the previous year. 

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Services PMI declines at its quickest pace in four years, Nikkei says

Thu, Aug 03, 2017

Key Highlights:  Output and new orders fall for first time since January...   ...and at fastest rates for almost four years Charge inflation at 53-month peak 

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27 lakh biz yet to complete GST registration process: GSTN

Thu, Aug 03, 2017

Of the over 71 lakh excise, VAT, service taxpayers who have migrated to the GST portal, only 44 lakh have so far completed the enrolment process by filling up Part-B of the form. As many as 27 lakh taxpayers have incomplete enrolments.

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