Tag: GST Council

India’s auto parts industry warns of 1 million job cuts if sales slowdown continues

The Automotive Component Manufacturers Association of India (ACMA) has sought a uniform GST of 18 per cent for the entire sector in order to revive the vertical which has now witnessed 10 months of continuous decline in sales.

July 25, 2019

GST Council to decide on tax cut on EVs this week

The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST.

July 21, 2019

Two years on, Arun Jaitley says GST proved to be consumer, business-friendly

In pre GST era the States had multiple laws which entitled them to impose taxation at different points. The States were scared of the fear of the unknown but the Central Govt. persuaded States with a 14% annual increase from the tax base of 2015-16 for a period of five years, said Jaitley.

July 1, 2019

GST cut in realty sector: Mixed reactions from industry experts

It is a buyer-centric move. Developers will be burdened with GST payments to vendors, suppliers, agencies and contractors and it will increase the cost further amid the already shrinking margin due to the dynamic policies of the government.

February 25, 2019

Will GST boost revenue and benefit consumers?

After the initial hiccups GST is touted as now settling to provide the comfort blanket for producers of goods and services as also consumers, after having been blamed for the economy’s slowdown along with demonetization.

January 26, 2019

Real Estate GST rates: Decoding recent clarifications by GST Council

What is still missing in the real estate market is the intention of builders to pass on the benefit of the lower cost to the consumer. On December 8, the GST Council issued a notification seeking to address this very concern

December 28, 2018

FICCI lauds GST Council’s decision to reduce tax rates on several items, services

"The government has been pro-actively engaging with various sectors and I am confident that going forward the council would continue to address issues," he added.

December 23, 2018

GST collection crosses Rs 94,000 cr in September

"The revenue collected in September shows an upward trend as compared to the August collection," the Finance Ministry said.

October 1, 2018

Petrol, diesel prices not discussed: Arun Jaitley after GST Council meet

Earlier, when asked whether the GST council meeting discussed bringing petrol and diesel under the ambit of Goods and Services Tax (GST)

September 28, 2018

GST Council sets up GoM on imposing cess in case of disasters

He added another view was whether there should be an all-India levy and should it be confined only to some luxury and sin products or on all products.

September 28, 2018

Glitch-ridden GST was due to lack of time: GSTN CEO

The GSTN prepared all its systems based on the draft law but in March last year, the laws were modified.

August 12, 2018

Lok Sabha passes GST amendment bills

Goyal said that acknowledging the need to simplify return filing process, a committee was set up to study return forms which came up with a single-page return. 

August 9, 2018

A year after GST ~ II

The brilliant minds that had crafted the GST architecture and drafted the related statutes should have given a little thought to the fact that to roll out such a hugely complicated tax system driven entirely by technology was likely to create problems with dealers and traders who may not have touched a mouse or keyboard in their lives, and provided for an easier and more user-friendly alternative.

July 23, 2018

GST Council tweaks rates | Complete list of items that will get cheaper

Decisions applicable from 27 July; Piyush Goyal says the GST Council will now focus on job creation too.

July 22, 2018

‘Sanitary napkins to be exempt from GST’

Sanitary napkins are taxed 12 per cent tax under the one-year old GST regime, which attracted serious criticism from various quarters.

July 21, 2018

India’s growth story intact; GDP to grow around 7.5%: Ficci

Despite short-term challenges India's economic growth story remains intact and the country's GDP is expected to grow around 7.5 per cent in the current financial year.

July 19, 2018

GST Council to decide when GST can be levied on petroleum products: Govt

"Accordingly, five state governments and one Union Territory have reduced the VAT on petrol and diesel," he said.

July 18, 2018