April 4, 2017
Loksabha has made the following changes to the GST bill, most of which are welcome and beneficial to MSME’s 1. Non-Applicability of GST Law in the State of Jammu and Kashmir: Earlier the GST Law was proposed to be applicable to J&K as well.However, in the Bill, the applicability of GST […]
March 23, 2017
A rose by any other name, smells just as sweet. Unfortunately, this doesn’t apply in the sphere of indirect taxation, where the applicable excise tax rate depends on its classification. Litigation abounds on which category or class a product falls in. According to tax experts, given the multi-tier GST structure, cess […]
March 6, 2017
Nearly 70 per cent of small businesses in the country are yet to adopt digital technology in their business format : CAIT Secretary General Traders association Confederation of All India Traders (CAIT) today made a case for delaying the roll out of Goods and Services Tax (GST) regime to September […]
February 28, 2017
India’s decade-long wait for a national sales tax that will create one of the world’s biggest single markets could be almost over by July 1. As per economic affairs secretary Shaktikanta Das the Goods and Services Tax (GST) will be implemented by July 1 and not later as feared earlier […]
February 26, 2017
Indian Revenue Service Association wrote to PM listing out their concerns and apprehensions over the proposed GST roll-out The representative body of central indirect tax officers has written to Prime Minister Narendra Modi flagging concerns over the agreements reached with the states on the final design of the goods […]
February 23, 2017
Proposed Goods and Services Tax (GST) benefits seem to have been significantly diluted as the draft law introduced clauses which allowed checking at inter-state borders and imposed the need for an e-permit to be flashed at inter-state borders as the states insisted the old analogue practices continue. Although Centre was […]
February 22, 2017
Preparing for the eventual rollout of the Goods and Service Tax (GST) from July 1 onwards, the South Goa district office of the commissioner of customs, central excise and sales tax, on Tuesday, appealed to all dealers, manufacturers and exporters to migrate to GST and organized a seminar for those […]
February 14, 2017
On field, they might be arch rivals, but on Thursday e-commerce biggies Amazon, Flipkart and Snapdeal, came together on one single platform, voicing their concerns over Rs 400 crore of capital belonging to their sellers being locked every year under the GST regime. Tax collection at source (TCS) recommended in […]
February 14, 2017
GST Council had decided to fix a four-tier rate structure for GST key highlights of which are as follows The four bands of tax rates have been fixed at 5 percent, 12 percent, 18 percent and 28 percent. Also, another category of tax between 40 percent and 65 percent will […]
January 29, 2017
Former finance secretary Vijay Kelkar has backed a single rate for the Goods & Services Tax (GST) saying it would help the authorities administer it better before considering multiple rates. The GST council, which has representatives of states and the Centre, has finalised a four-tier GST rate structure of 5 […]