The Goods and Services Tax Network, the information technology backbone that will implement the new indirect tax regime, will become a data analytics powerhouse in the months after the roll-out. “Once sufficient amount of data is generated, we will be able to generate analytics based on the requi…
Tag: GST
GST to improve ease of doing business: Jaitley
Union Finance and Corporate Affairs Minister Arun Jaitley said that the Goods and Services Tax regime, once implemented, will improve the ease of doing business in the country. Jaitley, who was speaking after launching two new initiatives for entrepreneurs by the Ministry of Micro, Small and Medi…
Textile industry awaits GST rate
The textile industry is watching to see what the final rate of tax under the proposed goods and service tax (GST) regime would be. This is because of the tax implications the new law will have on major input goods going into the textile production process such as cotton and man-made fibres. Accor…
GST to streamline border-less business across states: Telangana/Andhra Chamber
The Goods and Services Tax (GST) is the biggest indirect tax reform in India, which is almost similar to the reforms of economic liberalisation in the country during 1991, as per Federation of Telangana and Andhra Pradesh Chambers of Commerce and Industry (FTAPCCI). GST is a culmination of 17-18 …
Startups welcome GST but wary of fine print
While there is a general buzz of approval over the passing of the GST Bill by the Upper House of the Indian Parliament, there are some murmurs of disquiet as well. The startup community has unanimously welcomed the decision of the legislators but there are certain provisions which have given caus…
A myth that GST will negatively impact SMEs
With the passage of the uniform Goods and Services Tax in the Rajya Sabha, the Small and Medium Enterprises (SME) in the country are caught in a state of flux. The general perception is that GST may negatively impact SMEs as aspects like excise exemption will disappear when GST rolls out. Rajeev …
Exempt exporters from indirect taxes in GST: EEPC
Exporters have urged the government to exempt them from all domestic indirect taxes while rolling out the Goods and Services Tax to make them more competitive in the global market. TS Bhasin, Chairman, Engineering Export Promotion Council of India, said while GST will be a major reform , exporter…
GST & MSMEs | Impact assessment
On August 3, 2016 Rajya Sabha has finally passed the much awaited 122nd Constitutional Amendment bill which allows GST to be implemented. It took around 16 years, since GST first got conceptualized by Vajpayee govt, but better late than never. Finally the Bill has been passed unanimously in the R…
All India MSME Forum lauds GST; calls it a remarkable Bill
All India MSME Association (AIMA MSME), one of the representation body recognized by the MSME Ministry for the small and medium enterprises has appreciated the passage of GST Bill by Rajya Sabha on August 03, 2016. “Not just the MSME, but across the industries, I am sure this will give a positive…
GST to cut red tape, help SME sector, says West Bengal Finance Minister
The uniform Goods and Services Tax (GST) is going to benefit Small and Medium Enterprises (SME) the most by way of cutting down bureaucracy and the existing layered tax structure, West Bengal Finance Minister Amit Mitra said. Mitra said SMEs feed large industries and that this is the most labour-…