Council’s New Delhi meet on Thursday to take up big bang recommendations from states and various officers’ panel
Stating that about 15 per cent sales have gone down post GST implementation, Indian Biscuits Manufacturers Association (IBMA) said consumers of biscuit belong predominantly to the poorer segment and will hurt the 2.5 crore employment created by the industry.
Moneycontrol reported the crackdown of angadias earlier this month where the sources said that they received a tip-off from various agencies that angadias became active after the note-ban.
Tablet personal computers (PCs) carried a 5 per cent sales tax before the implementation of the goods and service tax (GST) and due to tax rebates in certain states, as part of make-in-India, the 5 per cent was waived-off, Datawind CEO & President Suneet Singh Tuli said.
The NITI Aayog committee formed for the purpose has made a presentation to the Department of Economic Affairs and is believed to have suggested bringing the import duty on gold to zero, from the current 10 percent.
Sector to stabilise in 2018 as both real estate developers and customers become attuned to the changed regulatory scenario
This will be the sixth meeting of the Group of Ministers (GoM) after being set up in September 2017.
Post-discounts, a room in the 18 percent tax slab often falls under 12 percent slab. But guests still end up paying 18 percent tax due to unfair rules.
"The current government has done a lot for the Indian real estate industry, even when it was in the form of hard decisions like demonetisation and the disruptive but very necessary RERA," ANAROCK Chairman Anuj Puri said in a report.
The anti-profiteering clause points that the input tax credit benefits must compulsorily be passed on to the consumers.
The ministry wants to make the form more consumer- friendly and simpler
"The expectation is revenues from GST will go up after six months. There is a considered expectation that when GST becomes normalised, the state will get more revenue," said Gopinath, the Harvard Professor and Financial Adviser to Kerala Chief Minister Pinarayi Vijayan.
The GST Council, in its meeting scheduled for January 18, is likely to focus on rationalisation of Goods and Services Tax (GST) rates on a handful of items.
AMFI has sought substantive changes from the FM in the GST implementation for MFs
Multiple food startups are suggesting the government to re- introduce the input tax credit even as they want an increase in GST.
The 10-member Law Review Committee, comprising representatives from both the Centre and states, also suggested that the limit of services provided by a composition dealer should be limited to 10 percent of the taxable turnover or Rs 5 lakh, whichever is higher.
According to a top bank executive, Kotak Mahindra Bank will witness 15-20 percent growth in the corporate banking and SME portfolio.
"In the GST regime, abolition of CST and entry tax and on top of that plastics goods flowing in from other states evading taxes have now stopped. This will encourage local manufacturers from Bengal to produce more to meet the demand," Indian Plastics Federation president Alok Tibrewala told PTI.
The Central Board of Excise and Customs (CBEC) has issued the clarification in view of queries regarding the tax liability and the rate of Goods and Services Tax (GST) leviable on services provided by a college hostel mess
Cable television operators have sought to revise the Goods and Services Tax (GST) to five per cent from 18 per cent.
The law review committee’s proposals aims to simplify procedures and make the new tax system simple
The clarification comes after social media went abuzz with a fake notification which stated that the deadline for filing GSTR-1 has been extended.
The largest trade union in India backed by the RSS, held a massive rally in Delhi on Friday against the “anti-labour policies of BJP-led government".
India, despite initial setbacks from demonetisation and Goods and Services Tax (GST), is estimated to have grown at 6.7 per cent in 2017, according to the 2018 Global Economics Prospect released by the World Bank here today.
The deadline for filing GSTR-1 for July-November, 2017, will end tomorrow. The Finance Ministry had last month extended the due date for filing GSTR-1 from December 31 to January 10.