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Latest Articles in goods and service tax

Centre-State Stalemate Over GST Jurisdiction Continues

Stalemate between the Centre and states over administrative control under the proposed goods and services tax regime continued today with an informal meet called by Finance Minister Arun Jaitley failing to break the deadlock

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GST: States Adamant On Sole Control Over Small Businesses

With states and Centre set to meet this week to chalk out jurisdiction over assessees under GST, a majority of states, including Kerala, West Bengal and Delhi, are sticking to their stand of sole control over entities with turnover below Rs 1.5 crore

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Efforts On To Build Consensus On Sticky GST Issues: Arun Jaitley

Finance Minister Arun Jaitley on Thursday said the Centre is making all efforts to build consensus on sticky issues, especially on jurisdiction of assessees, to ensure GST rollout from April 1, 2017

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GST Portal Goes Live, GSTN Software Almost Ready: GSTN Chairman Navin Kumar

A new and simpler portal for the incoming Goods and Services Tax regime went live on Tuesday that will enable easy filing of returns and tax payments through credit/debit cards and other modes.

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India Rises To Second Spot On Global Business Optimism Index: Report

India improved its ranking by one spot in a global index of business optimism, with policy reforms and goods and services tax expected to become a reality soon

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GST Council Meet Inconclusive As State FMs Want More Tax Data

Meeting of the all powerful GST Council failed to reach any conclusion on the dual control issue as states objected to non-availability of updated data on assessees of service tax, excise and VAT

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Sensex Fall For Fifth Day, Drops 156 Points

Investors could not find any solace over finalization of four-rate tax structure by the Goods & Services Tax Council as market continued reel under negative zone

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GST Will Come On Time, But Multiple Rates Will Dilute Benefits

India moved a step closer to creating a national sales tax but a deal on rates reached on Thursday will hit some businesses harder than others, while its complexity will dilute any boost to growth and undermine its reliability as a revenue generator.

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GST To Be Less Regressive With Lower Tax Band At 5%, Say Experts

A zero tax on daily necessities as well as lower rate of 5 per cent for items of mass consumption will make the new Goods and Services Tax regime, to be rolled out from April next year, less regressive, tax experts said

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GST Tax Structure To Bring Down Inflation, Says Arvind Subramanian

The GST Council's decision to peg the tax rate on items of mass consumption at 5 per cent will bring down prices and soften inflation, Chief Economic Advisor Arvind Subramanian said

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GST Council Decides On 4-tier Tax Structure From 5 To 28 Per Cent

A 4-tier GST tax structure of 5, 12, 18 and 28 per cent, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council

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Top Rate Of GST Likely To Be 28%

India's federal and state governments are likely to approve four main tax slabs ranging from 5 to 28 per cent under a proposed Goods and Services Tax, the finance minister of the state of Jammu & Kashmir said

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GST Council Likely To Finalise Tax Rates Shortly

The GST Council, which began 2-day deliberations in New Delhi on Thursday, is likely to shortly finalise a 4-tier tax structure with some tinkering of the Centre's proposal

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GST Council To Discuss Tax Rates, Dual Control On Thursday

With barely a fortnight left for Parliament's Winter Session, the GST Council will begin its crucial 2-day meeting on Thursday to decide on tax rate including the levy of cess and sort out the vexed issue of jurisdiction over assessees

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FM Arun Jaitley Favours Cess Over Additional Tax For Compensating States

Finance Minister Arun Jaitley on Wednesday favoured levy of cess on tobacco and luxury products to compensate states for loss of revenue on GST saying the cost of funding that through an additional tax would be "exorbitantly high and almost unbearable"

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