Realtors' body Naredco has urged the government to halve the GST rate for the sector to 6 percent to boost demand for under-construction housing projects.
GST Council to discuss law advisory group’s recommendations in Jan; a decision on whether to continue with reverse charge mechanism (RCM), tax deducted at source (TDS) and tax collected at source (TCS) also expected
Around 56 percent of the registered taxpayers filed their GSTR-3B returns for October within due date.
The Goods and Services Tax (GST) Council had announced forming the committee on November 10 to suggest ways for simplification of the returns filing process.
The opposition party alleged the Modi government is working under its model of "bypass, bulldoze and betray", which is an "attack on democracy".
GSTN Chairman Ajay Bhushan Pandey-headed panel comprises VAT commissioners of Karnataka, Gujarat, Telangana, and senior officials from the Department of Revenue and the CBEC.
DHL chief executive officer (CEO) Ken Allen said that he sees a strong growth in cargo movements between India and China as the two countries continue to expand bilateral trade.
The Moody's upgrade, the first since January 2004, lifted India up a notch to the second-lowest level of investment grade. Standard & Poor's and Fitch have had the country, the third-largest economy in Asia, at the lowest investment grade level for about a decade.
The government had collected Rs 93,141 crore revenue under the GST in September.
The initial sales return in the Goods and Services Tax (GST) regime is filed by businesses in form GSTR-3B.
The former Union minister, who was speaking at an event here last evening, also criticised the BJP-led government over the way GST was rolled out, although, he said, the concept of one nation one tax was "a great idea."
To compensate for the jump in operating costs post the announcement, Starbucks, McDonald's and Domino's are among the fast-food majors who have decided to increase their base rates.
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McDonald's blamed withdrawal of input tax credit which has resulted in increased operating costs
Moody's has also raised India's long-term foreign-currency bond ceiling to Baa1 from Baa2, and the long-term foreign-currency bank deposit ceiling to Baa2 from Baa3.
The Indian economy grew at its slowest pace in three years between April and June at 5.7 percent. A Reuters poll conducted in October showed economists predict South Asia's largest economy will grow by 6.7 percent in the fiscal year ending March 2018.
There has been a huge debate on whether or not restaurants have been passing on GST rate cut benefits to consumers or not. To discuss this, CNBC-TV18 caught up with Rohan Shah, Tax Expert, Pratik Jain, Partner at PwC India, Adarsh Shetty, President of Indian Hotel and Restaurant Association and Rahul Singh, Vice President and Gurgaon Chapter Head of National Restaurant Association OF India.
Producers should get a tax refund for the expenses incurred during exploration and production of natural gas till the time the fuel comes under the GST net, Baru said in his letter.
The National Anti-profiteering Authority will make sure that the benefits of the recent GST tax rate revisions are passed on to consumers
The Central Board of Excise and Customs (CBEC) last month said that businesses with turnover up to Rs 1.5 crore are exempt from deducting Goods and Services Tax (GST) on advance payment for supply of goods.
Jaitley made this comment before a gathering of investors while highlighting various achievements like ease of doing business ranking by the World Bank.
While demonetisation dampened petrol demand growth to 3 per cent in the January-March quarter, slowest in the past decade, the growth will recover in the first quarter of 2018 to around 9 per cent, said the research and consultancy firm.
According to Flexing It, a platform for independent consultants and flexible management talent in India and South East Asia, 'mature leaders' with 16-20 years of professional experience command highest payouts, with 50 per cent charging over Rs 23,000 per day and 25 per cent charging as high as Rs 74,000.
Now exporters of services who paid IGST and those making zero rated supplies to SEZ units as well as those merchant exporters who want to claim refunds for input credit can approach their jurisdictional commissioner with their refund form.
While the Centre said that the price of sanitary napkins would increase if they are exempted from GST, the court gave the Centre one month's time to respond.