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GST promises to be a buoyant source of future revenues: Economic Survey

GST promises to be a buoyant source of future revenues: Economic Survey

Mon, Jan 29, 2018

For understanding the current revenue performance, the survey explained that it requires all the taxes that the GST replaced from an all-India perspective.

India Inc may get relief in GST transition credit in Budget 2018

India Inc may get relief in GST transition credit in Budget 2018

Tue, Jan 09, 2018

Goods and Service Tax (GST) has been effective in India since July 2017, and many taxpayers, exporters, industries and markets have claimed that they faced difficulties in adapting the regime.

Tax payers can see status of returns filed on GSTN portal

Tax payers can see status of returns filed on GSTN portal

Wed, Dec 27, 2017

"All users logging on the GST portal can now see the status of their returns filed for all the returns like GSTR-1 or GSTR-3B at one place," GSTN CEO Prakash Kumar said.

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Demonetisation drive was meant to cleanse the system: Adhia

Demonetisation drive was meant to cleanse the system: Adhia

Sun, Nov 26, 2017

The Indian government on November 8, 2016 started the demonetisation drive by banning high denomination Rs 500 and Rs 1,000 currency notes.

Import of Chinese tyres has started to decline: ATMA

Import of Chinese tyres has started to decline: ATMA

Sun, Nov 26, 2017

"Now you can say the Chinese imports have become less than half. During the demonetisation month (November 2016), it dropped by 20 per cent. GST coupled with anti-dumping duty, it has started to sink further," ATMA chairman Satish Sharma told reporters here.

Equities rise on DII inflows, lingering effects of Moody's upgrade

Equities rise on DII inflows, lingering effects of Moody's upgrade

Sat, Nov 25, 2017

Market observers were of the view that investors awaited the comments from another ratings agency Standard & Poor`s (S&P) that came later on Friday evening.

Metal, OMCs and NBFCs lifted India Inc's earning in Q2FY18

Metal, OMCs and NBFCs lifted India Inc's earning in Q2FY18

Wed, Nov 22, 2017

Many sectors dragged down the earnings of India Inc in Q2FY18, but there is also a list segments which eased down the pain in overall growth.

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

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.

Moody's upgrade for India positive, but short-term reality, risks remain

Moody's upgrade for India positive, but short-term reality, risks remain

Tue, Nov 21, 2017

After more than a decade, India witnessed first upgrade by Moody's Investor service on its economic outlook. This is expected to be followed by another two major rating agencies.

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

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%.

Budget deficit may rise in FY18, but will improve in years

Budget deficit may rise in FY18, but will improve in years

Sun, Nov 19, 2017

In an interview to PTI, Moody's Investors Service V-P (Sovereign Risk Group) William Foster said the agency believes that the government's commitment to fiscal consolidation remains and sustained growth would help it reduce debt burden.

Govt seeks Rs 13,000 crore surplus from RBI

Govt seeks Rs 13,000 crore surplus from RBI

Sun, Nov 19, 2017

In August, the RBI had paid a dividend of Rs 30,659 crore for the fiscal ended June 2017. It was less than half the Rs 65,876 crore it had paid in 2015-16.

Ensure GST composition taxpayers don't tax customers: Haryana

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.

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

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.

Lower GST rates on restaurants, 178 goods become effective

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.

GST Council: Import of specific sports good exempted from IGST

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.

Larsen & Toubro reports consolidated net profit of Rs 2,131 crore in Q2

Larsen & Toubro reports consolidated net profit of Rs 2,131 crore in Q2

Sat, Nov 11, 2017

Consolidated net profit before loss of joint ventures or associates stood at Rs 2,131.04 crore - higher by 26.18% compared to Rs 1,688.84 crore in the corresponding quarter of the previous year.

Deadline for GSTR filing extended; Here's what you need to know

Deadline for GSTR filing extended; Here's what you need to know

Sat, Nov 11, 2017

GST, which came into play on July 1, 2017, has four tax slabs - 5%, 12%, 18% and 28%. Almost 227 items were there in 28% GST slab, now only 50 remain, which are mostly luxury items, rest have been put in 18%.

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

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.

GST recommendations will benefit people, strengthen tax structure: Modi

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.

Exclusive Interview with Finance Minister Arun Jaitley on Demonetization

Exclusive Interview with Finance Minister Arun Jaitley on Demonetization

Wed, Nov 08, 2017

About 6,857.82 million notes of Rs 1000 and 17,165.06 million notes of Rs 500 valuing separately Rs 685,782 crore and Rs 858,253 crore respectively were scrapped

India's bond market may face upward pressure ahead, says ICRA

India's bond market may face upward pressure ahead, says ICRA

Wed, Nov 08, 2017

By end of October 2017, 10-year G-Sec yields increased sharply to 6.88% from the low of 6.41% on July 24, 2017.

PM hints at more measures for businesses on GST

PM hints at more measures for businesses on GST

Sat, Nov 04, 2017

The GST Council had announced several measures to ease problems faced by businesses last month.

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