GST

Fiscal woes may worsen as GST collections fell to lowest in November

The decline in tax collection will amplify the Centre's fiscal concerns ahead of the Union Budget, scheduled for February next.

Dec 27, 2017

No further GST rate cuts as revenue concerns grow

According to the target set by the Union government, the Centre and the states combined should collect Rs 91,000 crore every month.

Dec 26, 2017

Centre willing to bring petrol under GST ambit, but after consensus with states

Earlier, during his tour to the US, the Union Finance Minister had hinted at the government's intentions to bring petrol under the GST regime, but never confirmed it.

Dec 20, 2017

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GST impact: Services PMI hit three-month low in November, Nomura 'surprised'

A composite PMI, which takes into account both manufacturing and services activity, fell to 50.3 from last month's 51.3.

Dec 5, 2017

GST on restaurants: Govt takes tough stand against association lobbying to restore input tax credit

The Centre thinks that there is no question of a review for restaurants under GST as the extent of the price increase is unjustified.

Dec 4, 2017

GST revenue collection slips, hits lowest in October at Rs 83,346 crore

The significant drop in GST revenue compared to previous months can pose serious financial implications in the future.

Nov 28, 2017

Prices of life-saving medicines for rare diseases skyrocket under GST

These drugs are now burdened with the 12 percent additional levy, which was nil before GST rolled out in July.

Nov 24, 2017

Pass on GST rate cut benefit to consumer or face action, Hasmukh Adhia tells companies

"I am not willing to accept their argument to postpone passing on the benefits to consumers till they have disposed of their old stocks," Adhia said.

Nov 20, 2017

Cabinet approves formation of National Anti-profiteering Authority under GST

Not just NAA, the GST framework now comprises of a standing committee, screening committees in every state and the Directorate General of Safeguards in the Central Board of Excise & Customs .

Nov 16, 2017

Restaurants agree to lower GST rate, but menu prices may rise

Earlier, the tax rate was 18 percent for air-conditioned restaurants and 12 percent for non-air-conditioned eateries.

Nov 16, 2017

No single GST rate but finance minister hints at further rate cuts

Jaitley said that, "In four months, we have rationalised the 28 percent slab. Such rationalisation in future depends on revenue buoyancy."

Nov 14, 2017

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FMCG companies set to reduce prices after GST rate cut; but benefits unlikely to reach consumers soon

Firms like Hindustan Unilever, Dabur, Amul, GlaxoSmithKline (GSK), Procter & Gamble, Nestle and Perfetti Van Melle said they have either decided to cut down prices or are planning to do so.

Nov 13, 2017

Should Infosys prepare for some court dates? CAIT threatens legal action over glitches in GST network

The Confederation of All India Traders has said that the GST network issues are serious and they will have to take "shelter of the court of law" if no action is taken against Infosys.

Nov 13, 2017

Bring petroleum products, real estate, electricity under GST : Congress

PM Modi's "Gabbar Singh Tax" is shrewdly designed to help his wealthy friends but hurts millions of small traders, Congress stated.

Nov 11, 2017

In Gujarat, Manmohan Singh calls demonetisation a disaster

"Does questioning the Goods and Services Tax (GST ) and demonetisation make one a tax evader? This attitude of suspecting everyone to be thief or anti-national is damaging to democratic discourse," the former PM said.

Nov 7, 2017

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PM Modi to Congress: India would have ranked 100 earlier if right disciplines were followed

If there had been certain disciplines under the previous government like the insolvency code, bankruptcy code or commercial code, the Congress would have enjoyed the celebration of India's 100 position, he said.

Nov 4, 2017

Confused between a job in Delhi and Mumbai? This is the city that has a higher salary scale

As per World Bank's Ease of Doing Business report, employees in Delhi are paid much better than those in Mumbai even though workers in the commercial capital are entitled to more annual paid leaves.

Nov 2, 2017

Infosys refutes claims of unsatisfactory work on GST network; promises to resolve issues at the earliest

Three government officials have said that they are not happy with the GST network created and run by IT giant Infosys as taxpayers have frequently been facing glitches.

Nov 1, 2017

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Govt likely to lower GST rate for small business, is this an election strategy?

The ministerial panel recommended a new tax rate under the composition scheme would be 1 percent for traders, manufacturers and restaurants, which previously stood at 1 percent, 2 percent and 5 percent, respectively.

Oct 30, 2017

GST network: 18 of 27 glitches fixed, Infosys to expand team to put GSTN on track

The IT company, in it its meeting with the GoM on October 25, told the group that it would step up its 100-member team to speed up the bug fixing exercise.

Oct 29, 2017

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GST