The tax payers who opt for the composition scheme during this period will get this facility from October 1 for the current financial year
…
Tag: GST Council
Don’t collect & don’t pay GST: Textile workers to launch ‘tax denial satyagraha’
Bengaluru: Come September 7, artisans from unorganized sectors will band together to fight the Goods and Services Tax (GST) regime under which handmade products, including textiles, have been taxed. Led by the Bengaluru-based Graama Seva Sangha, artisans and textile workers will launch …
GST input tax credit form to be available from August 21
The form for claiming transitional input tax credit will be available on the GSTN website from August 21, reported a leading business daily. The transitional credit is the carried forward input tax credit from the earlier central excise and service tax regime. Taxpayers who wish to claim the cred…
Next GST meet to finalise a mechanism to operationalise anti-profiteering clause
New Delhi: The Goods and Services Tax Council will at its next meeting finalise a mechanism to operationalise the anti-profiteering clause which seeks to protect consumers interest, Finance Minister Arun Jaitley told the Lok Sabha on August 1. He said a proper decision would be taken on Air India…
One month of GST: What traders, customers, manufacturers have to say
A month after Goods and Services Tax was rolled out traders, manufacturers and customers are settling into the new tax regime. While eating out has become a little more expensive for the urban middle class, manufacturers are elated over the benefits of Input Tax Credit. With old stocks in invento…
GST impact: The good & bad for fintech & start-ups under new regime
For startups and new businesses, there is some relief as currently, a business with turnover above Rs 5 lakh had to register for and pay Value Added Tax (VAT), which would differ across states.
…
Textile SMEs unaffected by GST rollout: Arun Jaitley
Union Finance Minister Arun Jaitley has said small retailers in textiles sector have not been affected by Goods and Services Tax (GST), while replying to a starred question in Rajya Sabha on July 18 in a written reply. The Finance Minister said that organised players and unorganised sellers are l…
Kalraj Mishra bats for acceleration to Khadi industry
Union MSME Minister Kalraj Mishra has expressed the willingness for Khadi products to be exempt from the new tax regime that has come into effect with the roll-out of Goods and Services Tax (GST) on July 1. The Union Minister was addressing a meeting with Khadi institution in the august presence …
#GSTMasterClasses: Turnover no exemption under GST registration for inter-state supply, clarifies Council
If a small businessman wants to do business from his state to another, then it is mandatory to register under GST, even if his annual turnover is less than Rs 20 lakh. The exemption for registration is only for small traders who stick to business within their particular state.
…
‘Govt won’t pull down prices, companies to pass on GST gains to consumers’
The government does not intend to use the “hammer” immediately to pull down prices, leaving it to market forces to guide companies to pass on the benefits of goods and services tax (GST) to consumers. “Competition will force them to fall in line. You don’t have to use the …