Restaurant chains say that without an input tax credit (ITC), the move to reduce GST rate from 18% to 12% will increase the final bill for customers....
The technical snag in the GST portal and the cumbersome process of giving detailed information about the traded goods have forced hundreds of commercial tax consultants from South Gujarat to boycott the filing of GSTR-2
"Issuing invoices as per the GST laws was causing a lot of hassle for retailers. The length of the bill and various codes were confusing customers who were feeling that they were being charged extra," an RAI statement said.
The government on Thursday extended the deadline by a month till November 30 for businesses to claim credit of transitional stock in the Goods and Services Tax (GST) regime.
GST Council meet on Nov 10 will discuss plans to cut multiple rates in related products such as dried fish and whole fish, sugar syrup and chocolate syrup
HUL posted a good recovery in volume and had a relatively smooth transition through GST. While its focus on the natural portfolio is worth noting, competitive intensity cannot be wished away.
It’s fair to say that without an effective and efficient road-freight logistics industry, our country will never be able to reach its fullest potential
Chouhan, in his interaction with the business community here, lauded decisions like the demonetisation and GST taken by the Indian government.
"When you do such a massive reform there are bound to be some issues and challenges, but the government has been responding to feedback from stakeholders and making appropriate changes as required," Secretary in the Department of Industrial Policy and Promotion (DIPP) Ramesh Abhishek said.
NRAI which represent more than one lakh restaurants said that the government’s proposal to reduce GST rate to 12 percent from 18 percent without input tax credits will make eating out in restaurants more costly.
Severe action will be initiated against levying of the Goods and Services Tax (GST) in addition to the maximum retail price (MRP) and cases will be registered against such an illegal practice, C V Anand, the state's civil supplies commissioner and legal metrology department's controller, said yesterday.
Asia's third-largest economy will grow at 6.7 percent in the fiscal year ending March 2018, the slowest since the new methodology of measuring gross domestic product (GDP) was introduced in the 2014-15 fiscal year, according to the latest poll of 30 economists.
Chouhan, in a series of meetings with US industry representatives and leaders of the corporate world here has invited them to invest in his state.
Union Minister Dharmendra Pradhan on Tuesday said efforts are on to build a consensus with the state governments over bringing in petroleum products under the ambit of the Goods and Services Tax (GST).
Three months into GST rollout, the new indirect tax regime has consistently given Rs 93,000- 94,000 crore in taxes every month, Arun Jaitley said.
Finance minister Arun Jaitley said that the government will launch an umbrella road building programme to de-bottleneck the sector.
Of this, Rs 14,042 crore is on account of Central GST, while State GST is to the tune of Rs 21,172 crore.
Gandhi, who had yesterday described the goods and services tax as "Gabbar Singh Tax" during a rally in Gujarat, today recalled a much quoted dialogue from "Sholay" to sharpen his attack on Prime Minister Narendra Modi.
"To facilitate taxpayers, late fee on filing of GSTR-3B for August and September has been has been waived," Finance Minister Arun Jaitley tweeted.
Council to take up matter in its next meeting in Guwahati on November 10 to ease procedural irritants for small firms
With the offline tool, internet connection is not required at the time of filling up details. After the details are fed into the excel tool, it can be uploaded on the GST portal.
We agree with CEOs of tourism industry that GST rate of high end rooms at 28 percent is very high and we will take up this issue with the Finance Ministry – that's the word coming in from Tourism Minister, KJ Alphons.
GST Network (GSTN), the company handling IT infrastructure for the indirect tax regime, has from October 10 started issuing refunds to exporters for Integrated GST (IGST) they paid for the month of July, after matching GSTR-3B and GSTR-1.
In an interview to PTI, Pandey said a group of ministers (GoM) headed by Bihar Deputy Chief Minister Sushil Kumar Modi reviews the functioning of the GST Network (GSTN) every fortnight to ensure that it is working smoothly.
"If we have a look at the figures which have come recently, the production of coal, electricity, natural gas and other items has increased tremendously. Foreign investors are making record investments in the country. The foreign exchange reserves of the country have reached 40,000 crore dollars from 30,000 crore dollars," Modi said.