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Latest Articles in goods and service tax

GST To Have Minimal Impact On Inflation, GDP Growth: Nomura

The goods and services tax is expected to be fiscally neutral and the resulting inflation impact is likely to be minimal at less than 20 bps, says a Nomura report

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GST To Be Simple, Less Burdensome For Industry, Says Hasmukh Adhia

Goods and Services Tax will usher in a very simple and less burdensome taxation regime as it will be a single rate indirect tax which can be paid by debit/credit cards, cheque and NEFT, Revenue Secretary Hasmukh Adhia said on Wednesday

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West Bengal FM Amit Mitra Walks Out Of Pre-Budget Meet, Cites 'Financial Emergency'

A day after his party's leader in Lok Sabha, Sudip Bandyopadhyay, was arrested by CBI, West Bengal Finance Minister Amit Mitra on Wednesday staged an angry walkout from a pre-Budget meeting saying there was 'financial emergency and 'political environment of fear' in the country

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GST Deadlock Continues Over Dual Control, High Sea Taxes

The deadlock over the Goods and Services Tax continued on Wednesday with the Centre and states refusing to budge from their respective positions on issues like control of tax payers and taxing high sea trade, a stalemate that threatens to delay the rollout till September.

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GST: States Demand Tax On High Sea Sales, Higher Compensation

In fresh roadblocks to GST rollout, states on Tuesday demanded taxation rights for sales in high seas and also increasing the number of items on which cess is to be levied to compensate the states to deal with revenue loss estimated at Rs 90,000 crore post demonetisation

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GST Council Makes Headway On Bills, Stuck On Taxpayer Control

The all-powerful GST Council on Friday made a 'reasonable headway' on supporting legislations for the new indirect tax regime but its rollout from April 1 looked virtually impossible as it postponed discussion on the critical issue of administration and control of tax payers

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PM Modi's Crackdown On Cash Jeopardises GST

Prime Minister Narendra Modi's crackdown on the cash economy has shattered the consensus needed for a new national sales tax, plunging his boldest reform into limbo and threatening to entrench an economic slowdown

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Bring Land, Realty, Power Under GST Fold, Says Arvind Subramanian

As the Narendra Modi government wages its biggest war on black money yet, Chief Economic Advisor Arvind Subramanian on Thursday pitched for including land and real estate under the GST regime to check money laundering and corruption

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GST: Captivating Enough For Investors?

GST also brings additional business opportunities to a number of IT companies since every company now need to overhaul its existing IT/ERP system

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No Consensus At GST Council, Next Meet On December 11-12

For the third time in one month, the GST Council on Saturday failed to break deadlock over control of assessees under the new indirect tax regime, an issue that has been holding up supporting bills essential for the GST rollout from April 1 next year

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Cash Crunch To Ease By Year End; No GST Delay, Says FM Arun Jaitley

Union Finance Minister Arun Jaitley said on Friday that a cash crunch following the scrapping of high-value banknotes would ease by December 30 with the release of new Rs 500 and Rs 2,000 currency notes

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GST Council To Discuss Model Laws, Tax Jurisdiction Friday

The all-powerful GST Council at its two-day meeting beginning Friday will dwell on the issue of jurisdiction over assessees and draft model laws for implementation of the new GST regime from April next year

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GST, Currency Change To Be Game Changers For Economy, Says Arun Jaitley

Rejecting apprehensions that the Indian economy would suffer due to demonetisation, Finance Minister Arun Jaitley on Thursday termed as "game changers" the pulling out of high-value old notes as well as Goods and Services Tax, which is proposed to be rolled out from April 1

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Centre To Compensate States Every Quarter For GST Revenue Loss

States will receive provisional compensation from Centre for loss of revenue from implementation of GST every quarter but the final annual number would be decided after an audit carried out by CAG

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GST Council Meet Postponed To December 2-3

With several states suggesting changes in the model GST law and compensation formula, the GST Council meeting scheduled for November 25 has been postponed to December 2-3

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