Tag: Goods and Service Tax (GST)

GST rollout: Are MSMEs ready?

The much-awaited Goods and Service Tax (GST) Bill will soon be a reality. The central government is taking every possible effort to rollout the new tax regime by July 1, 2017. The tax officials of  the central and state governments will this week hold their maiden meeting on devising a formula fo…

GST: A mix bag of opportunities & challenges for SMEs

The Goods and Service Tax (GST) is a destination-based tax applicable at multiple stages of production and rendering of goods & services and their distribution. Subsuming various indirect taxes such as entertainment tax, state and local tax, surcharge, excise duty, octroi, and others, the GST…

GST adoption could raise India’s GDP growth rate to over 8%: IMF

The adoption of the Goods and Service Tax (GST) could help raise India’s medium-term Gross Domestics Product (GDP) growth to over 8% and create a single national market for enhancing the efficiency of the movement of goods and services, the International Monetary Fund (IMF) said on February 22. A…

Budget 2017: mobile makers seek incentives for making in India

Mobile handset makers operating in India expect the government to continue duty differential regime for mobile phones in the upcoming budget, amid business slowdown due to demonetisation and the imminent implementation of goods and service tax (GST) regime. Some feel that while the government sho…

Govt to launch programme to address traders concerns on GST

Keen to roll out Goods and Service Tax (GST) by the target date of April 1, 2017, the government will launch an outreach programme to address concerns of small traders. “We are trying to complete GST formalities to roll out GST regime within the target date,” Minister of State for Fin…