The GST Council has set up 18 sectoral groups to interact with the sectors like telecom, banking and export and sort out their issues in a time-bound manner for a smooth transition to the new indirect tax regime. These sectoral working groups consist of senior officers from the Centre and states …
GST News Feed
GST a mixed weave for textile units
There are four possible consequences of GST on various raw materials, fabric and garments. First, the 18 per cent service tax on job working activities such as knitting, cutting, weaving and packaging could hurt small textile units badly. Integrated textile units, which do the job working interna…
GST Impact: Gold importers, exporters to face many operational issues
The financial cost of importing gold and diamond is set to increase on account of Integrated Goods and Service Tax (IGST), as importers’ capital is likely to be blocked until refund comes. Even as exporters propose to raise bank guarantees to avoid refund complexities, domestic bullion trad…
Textile Ministry examining service tax issue; Industry ‘positive’ about GST rate: Official
The Ministry of Textiles has received representations from the textile industry requesting the Centre to exempt textile jobs from service tax, and is examining it, according to a senior official. “These are the recent representations we have received from the industry. We are examining it,&…
GST Impact: Short term pain likely for pharma sector
The pharmaceutical sector expects some impact, at least in the short term, once the goods and services tax (GST) is implemented. Drug makers–big and small, are busy evaluating the impact of GST and are taking steps to get ready for the new tax regime. As per the GST slabs, the tax on most p…
Industry now gets 90 days to claim credit for GST transition stock
Traders and retailers can file declarations within 90 days claiming tax credit for transition stock after the GST rolls out from July 1. The draft transition rules for the Goods and Services Tax (GST) regime had pegged the time at 60 days. The transition rules approved by the GST Council provides…
GST/Textiles: टेक्सटाइल मंत्रालय सर्विस टैक्स को लेकर करेगा विचार
टेक्सटाइल इंडस्ट्री ने टेक्सटाइल मंत्रालय से अनुरोध किया है कि टेक्सटाइल जॅाब को सर्विस टैक्स के दायरे में ना रखा जाए। मंत्रालय का कहना है कि वह इसपे विचार करेगा। टेक्सटाइल मिनिस्ट्री के संयुक्त सचिव ए मधुकुमार रेड्डी ने बताया है कि हम उद्योग की इस बात पर विचार कर रहे हैं। मानव निर्मित फाइबर [&he…
GST levy of 28% on paints will not differ much from existing rate: Industry
The decision of the Goods and Services Tax (GST) Council to tax paints at the highest slab of 28 per cent would not differ from the existing rate which was just above that, the paints industry has said. “It is no loss, no gain situation for the paints industry. At the existing rate structur…
GST: सीएआईटी ने राजधानी दिल्ली से ‘मिशन जीएसटी’ की शुरूआत की
कन्फेडरेशन ऑफ ऑल इंडिया ट्रेडर्स (सीएआईटी) ने नई दिल्ली में उत्तर भारत के राज्यों के लिए “मिशन जीएसटी” की शुरूआत की। इस कॉन्फ्रेंस में दिल्ली, यूपी, राजस्थान, मध्य प्रदेश, उत्तराखंड, हिमाचल प्रदेश, पंजाब, हरियाणा और चं…
Walmart India launches GST toll-free helpline
Walmart India has launched a toll free helpline number for all the ‘kiraana’ and other reseller members to help them transit smoothly into new tax laws and also to ensure minimum disruptions in their business, with the roll out of GST from 1st July, the company said this in a statement today…