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Goods and Services tax

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

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.

GSTN to launch invoice management system from October 1

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.

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

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 impact: FMCG PAT, revenues to slow down over 2% in Q1FY18

GST impact: FMCG PAT, revenues to slow down over 2% in Q1FY18

Tue, Jul 11, 2017

Result preview of fast moving consumer goods (FMCG) in the first quarter of FY18 will be impacted by the after effects of GST rollout.

Govt says GST on sanitary pads actually lower than pre-GST era

Govt says GST on sanitary pads actually lower than pre-GST era

Mon, Jul 10, 2017

The government said, "Sanitary napkins are classifiable under heading 9619. In pre-GST, they attractedconcessional excise duty of 6% and 5% VAT and, the pre-GST estimated total tax incidence on sanitary napkins was 13.68%. Therefore, 12% GST rate had been provided for sanitary napkin."

No GST on gifts under Rs 50,000 per year by an employer: Govt

No GST on gifts under Rs 50,000 per year by an employer: Govt

Mon, Jul 10, 2017

Gifts of above Rs 50,000 value in a year, when given by the employer to the employee without consideration and outside the contractual agreement, will come under the ambit of Goods and Services Tax (GST), the Finance Ministry said on Monday.

Dell EMC, SAP launch ''GST-in-a-box'' for MSMEs in India

Dell EMC, SAP launch ''GST-in-a-box'' for MSMEs in India

Mon, Jul 10, 2017

SAP is providing a pre-packaged `GST in a Box` solution running on infrastructure solutions of Dell EMC which is aimed at helping MSMEs digitally transform their businesses in compliance with GST.

Car sales in June drop over 11%

Car sales in June drop over 11%

Mon, Jul 10, 2017

Key Highlights:

Coca-Cola to launch Indian flavours to compete with local brands

Coca-Cola to launch Indian flavours to compete with local brands

Mon, Jul 10, 2017

MNC, Coca-Cola will soon launch new variant of aerated drinks in local Indian flavours to compete with smaller brands.

No GST on import of aircraft, its parts on lease

No GST on import of aircraft, its parts on lease

Mon, Jul 10, 2017

The government has exempted the import of aircraft, aircraft engines and its parts procured on lease from the purview of the Goods and Services Tax (GST).

EY launches GST helpdesk for small businesses

EY launches GST helpdesk for small businesses

Sun, Jul 09, 2017

EY GST Helpdesk is driven by a pool of indirect tax professionals powered by over 800 GST practitioners across 14 cities.

This app will help you find your GST rates on various goods and supplies

This app will help you find your GST rates on various goods and supplies

Sat, Jul 08, 2017

To bring in proper understanding of GST rates for Indian, the Finance Ministry has launched a GST Rates Finder app.

Tata Motors slashes passenger vehicles prices by up to Rs 2.17 lakh!

Tata Motors slashes passenger vehicles prices by up to Rs 2.17 lakh!

Wed, Jul 05, 2017

Tata Motors on Wednesday announced that it has slashed the prices of its passenger vehicles up to 12 per cent, following the roll-out of the Goods and Services Tax (GST).

Reflect price revision post GST via stickers till September 30: Govt

Reflect price revision post GST via stickers till September 30: Govt

Wed, Jul 05, 2017

The difference between the retail sale price originally printed on the package and the revised price "shall not, in any case, be higher than the extent of increase in tax" or in the case of imposition of fresh tax on account of the implementation of the GST, it said

Black gold: Tax hike under GST could boost illegal bullion, jewellery sales

Black gold: Tax hike under GST could boost illegal bullion, jewellery sales

Tue, Jul 04, 2017

A hike in taxes on gold sales in India could stoke under-the-counter buying and drive up appetite for precious metal smuggled into the country, where millions of people store big chunks of their wealth in bullion and jewellery.

GST helps ITC enter the 'Rs 4-lakh crore market cap' club

GST helps ITC enter the 'Rs 4-lakh crore market cap' club

Tue, Jul 04, 2017

ITC Ltd is now has the fourth highest market capitalisation in India, at over Rs 4 lakh crore. Shares of the company rose after clarity on excise duty post Goods and Services Tax roll out.

GST structure for airlines: What's in store for economy, business class and lease rentals

GST structure for airlines: What's in store for economy, business class and lease rentals

Tue, Jul 04, 2017

GST tax slabs have turn out to lower in economic class tickets, while higher in business class tickets. However, analysts feels migration to GST would be largely neutral for airline sectors.

Big Bazaar sells Rs 10 crore worth products in two-hour GST Muhurat sale

Big Bazaar sells Rs 10 crore worth products in two-hour GST Muhurat sale

Tue, Jul 04, 2017

Big Bazaar managed to sell Rs 10 crore worth products in a final GST sale that lasted two hours in all of Future Group's outlets.

GST: Is Electronic-way bill a game changer?

GST: Is Electronic-way bill a game changer?

Fri, Jun 30, 2017

The government is all set to launch Goods and Services Tax (GST) at midnight on Friday June 30, 2017. GST is touted to be the biggest reform in India's taxation system which is expected to boost the country's tax collection and growth rate.

GST Rollout: This is what you will pay for movie tickets, airline & railway tickets, footwear, cab rides and mobile phones

GST Rollout: This is what you will pay for movie tickets, airline & railway tickets, footwear, cab rides and mobile phones

Fri, Jun 30, 2017

Lets see how GST impacts your daily expenses. Purely from a taxation perspective, GST is likely to be neutral.

India of 2017 different from India of 1962: Jaitley

India of 2017 different from India of 1962: Jaitley

Fri, Jun 30, 2017

The India of 2017 is different from the India of 1962, Defence Minister Arun Jaitley said on Friday, a day after China asked New Delhi to learn from its 1962 military debacle.

Here are 22 most asked questions about GST answered

Here are 22 most asked questions about GST answered

Fri, Jun 30, 2017

Despite the launch of the GST rates some time back there are several questions in people's minds about GST and the specifically about the rates.

GST: The transition issues and what it means for India

GST: The transition issues and what it means for India

Fri, Jun 30, 2017

However, GST, as accepted by the Government, is going to see some hiccups in the beginning as is the case with any disruption. Past few weeks has seen companies destocking their products at a rate faster than expected. Industry experts believe that normalisation may return to the Indian economy only by the third quarter (Q3FY18) of the current fiscal, i.e. September to December 2017 period.

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