Tag Archives: GST

Finance Ministry considers steps to prevent composition dealers from charging GST from buyers

In a consumer-friendly measure, the revenue department is planning to make it mandatory for composition dealers and service providers to declare their GST registration status in invoices to ensure that they do not charge any tax from buyers. The measure, once implemented, would check the widespread practice of composition dealers of charging GST from purchasers and not depositing it with ... Read More »

GST Council met 30 times, took 918 decisions in 2 years: Finance Ministry

The all-powerful GST Council, chaired by Finance Minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime within a span of just over two years, the Finance Ministry said Sunday. The Goods and Services Tax (GST) Council, which comprises state finance ministers and Union Minister of State in ... Read More »

GST Collections Rise To Rs. 86,703 Crore In December, Says Finance Ministry

As many as 56.30 lakh GSTR 3B returns have been filed for December, Finance Ministry said. New Delhi: Halting two months of decline, the GST collections gathered momentum in December, rising to Rs. 86,703 crore. “Total revenue Collections under GST for the month of December 2017 (received in December 2017/January up to January 24, 2018) has been Rs.86,703 crores till January 24 2018,” the ... Read More »

GST impacts state budget proposals

Hyderabad: The single tax regime- GST blues are haunting Telangana. The state government is grappling hard to prepare the budget proposals for the ensuing 2018-19 financial year, as the revenue collections under GST have gone down against the estimations ever since the new tax regime came into force on July 1, last year. On the other hand, the government is unsure ... Read More »

GST effect on bike prices: Motorcycles up to 350cc get cheaper, electric & bigger capacity bikes become expensive – All you need to know

GST or Goods and Service Tax has kicked in from today midnight in India. Under the new set of taxes, prices of various items see a revision. The two-wheelers are not untouched by this and hence, will now have to go through some significant changes in their prices. Many buyers are still confused at the moment as to which bikes will get ... Read More »

GST To Create 5 Lakh New Jobs For Candidates With Skills In IT, Finance

Post GST implementation, India would need at least 5 lakh IT professionals having knowledge of finance. HIGHLIGHTS Government wants youth to be job-provider, not job-seeker, says minister It is focused to provide entrepreneurship skills, says Rajiv Pratap Rudy Government expects to roll out GST from July 1 Indore: Union Minister of State for Skill Development and Entrepreneurship (Independent Charge) Rajiv ... Read More »

GST slabs announced, cars to be taxed at 28 per cent

The Government of India has announced four tax slabs under the proposed GST regime – 5 per cent, 12 per cent, 18 per cent and 28 per cent for all goods and services offered in the country. While the automotive industry hoped for a lower slab, the panel has decided to charge all cars under the 28 per cent tax ... Read More »