In its third meeting since the implementation of Good and Services Tax, the GST council today delivered a much-awaited relief to taxpayers and India Inc welcomed the outcomes of the meeting. “The decisions will improve compliance,”
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Tag: GST Council
Three months on, GST now good for small traders
New Delhi: India announced a significant revamp of the goods and services tax (GST) regime three months after it was rolled out, addressing key complaints, especially those of small-scale industry and exporters. The GST Council raised the composition scheme threshold to Rs 1 crore from Rs 7…
GST Council meeting today, MSMEs, exporters may get relief package
New Delhi: The Goods and Services Tax Council (GST Council) chaired by Finance Minister Arun Jaitley is likely to announce on October 6 a special package for micro, small and medium enterprises (MSMEs) that will, among other things, address the concerns of exporters, as policymakers explore ways …
Govt, industry to brainstorm on measures to boost exports
New Delhi: The export sector’s woes finally seem to have nudged the Centre into action. On September 29, when the GST Council meets to iron out the sector’s problems, three key Union ministers will hold a brainstorming session with officials, exporters and industry bodies to identify measures to …
Govt & GST Council open to reconsidering decisions: Revenue Secy Hasmukh Adhia
“It appears to us that there is some amount of normalcy because destocking had happened on the manufacturer side but now restocking has started”
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50k small jewellery artisans render jobless in Diamond City
Surat: About 50,000 jewellery artisans in the Diamond City have been rendered without work as the Good and Service Tax (GST) Council is yet to provide exemption to small units on inter-state supply of finished jewellery manufactured on job work. Industry sources said there are around 20,000 small…
Commerce Min working with Fin Min & NITI Aayog to address exporters’ issue: Suresh Prabhu
The minister said that the government will speed up refunds of taxes paid by exporters and making incentives for exporters more attractive.
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22nd meeting of GST Council to be held on Oct 6, exporters wait for relief
New Delhi: The 22nd meeting of the GST Council, chaired by Union Finance Minister Arun Jaitley, will be held on October 6 to deliberate on GSTN glitches and ironing out issues faced by exporters, a ministry official has said. The meeting was scheduled to be held on October 24 …
Jaitley asks biz to avoid last-minute rush for tax filing
With 75 per cent of businesses waiting till the last day to file August GST returns, Finance Minister Arun Jaitley on September 20 asked them to avoid last-minute rush for tax filing. He said the GST Network (GSTN) has the capacity to handle 1 lakh returns per hour, which translates to 24 lakh re…
PM moots, CBEC conceptualises: Easier compliance on way to bring more SMEs under GST umbrella
New compliance mechanism being worked out by Central Board of Excise and Customs to ease GST norms for small businesses with annual turnover under Rs 20 lakh
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