With 60 per cent of the country’s small traders yet to be computerised, wholesalers and traders are demanding amnesty from penal provisions of GST for atleast nine months. A large number of small traders are still not educated about GST and there are expected to be teething problem for them in th…
Tag: GST
How Indian traders can reap benefits from GST
Trading has been the primary business activity in India since time immemorial. Even the British set up a trading post through the East India Company. While India has advanced in technology and has seen rapid industrialisation along with growth in the manufacturing sector, it is the trading sector…
GST rates cut on 66 items; pickles, insulin, cashew nuts could become cheaper
The Goods and Services Tax (GST) Council on Sunday reduced tax rates on 66 items including ketchup, instant food mixes, pickles, tractor components, computer printers and insulin as the Centre and the states sought to iron out rough edges ahead of GST’s roll out from July 1. The Finance Minister …
Electronic documents for GST to be ready by month-end
GST Network, the company putting in place the technology backbone for goods and services tax (GST), will be ready with revised forms and electronic documents for businesses to upload invoices by the end of the month, senior government officials said. Readiness of GST is at the heart of the launch…
How to correct errors in GST registration?
You have registered for GST and now you have discovered there is an error in your GST registration. Will it mean that you have to scrap your entire GST registration and apply for a fresh one? Not at all! You can rectify any mistakes or change any of the details given in the application for [&hell…
GST: Impact on SMBs, technology services & start-ups
The Lok Sabha has passed the Goods and Services Tax (GST) bill and the rates for goods and services have been determined, clearing the path for the most significant tax reform in post-independence India. While GST has been hailed as a much-needed overhaul of the indirect tax system, many small an…
IIA finds anomalies & discrepancies in GST rate schedules, submits representation to GST Council
Indian Industries Association (IIA) – the apex representative body of Micro, Small and Medium Enterprises (MSME) in consultation with more than 7000 MSME members carried out a detailed study on the GST rates announced by GST Council for Goods and Services. The study revealed that there are …
GST Council forms 18 groups to sort out industry worries
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 …
Textile units fret over 18% GST, fear job cuts
The textile industry has said it is worried over government’s decision to impose 18 per cent GST on manmade fibre as the levy will dent the margins of firms manufacturing synthetic yarn and could lead to job losses. The industry is also uneasy about the effect on jobs like weaving, knitting…
भारत में कारोबार करना हुआ ज्यादा आसान, FDI बढ़कर 61,724 अरब डॉलर हुआ |PM मोदी
प्रधानमंत्री नरेंद्र मोदी ने कहा कि देश में प्रत्यक्ष विदेशी निवेश (FDI) में बड़ी बढोतरी देखने को मिली है और यह 2013 के 34,487 अरब डॉलर से बढ़कर 61,724 अरब डॉलर हो गया है। अपनी सरकार के तीन साल के कार्यकाल पर रोशनी डालते हुए प्रधानमंत्री ने कहा है कि भारत को आज विश्व अर्थव्यवस…