We are now just days away from the rollout of the goods and services tax (GST) on July 1 — the most ambitious indirect tax reform ever attempted in modern India. Yes, the design is far from perfect (given the multiplicity of rates), yet it is a visionary idea on which, amazingly, there is politic…
Tag: Indirect Tax
President gives nod to GST Bill; 60 days’ countdown to GST Council begins
Turning years of wait into reality, the Constitutional Amendment Bill on Goods and Services Tax (GST) received Presidential assent on September 9 and turned into a law. The consent has moved the government a step closer to do away with indirect taxes. Next on agenda is formulation of the GST Coun…
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 Bill likely to pass in Monsoon session; SMEs bullish on the turn around
With the Monsoon Session kicking off, small and medium business players seem enthused by the likeness of Goods and Services Tax (GST) Bill being passed by the Parliament. The NDA government has sought an all-party support in the passage of this long-pending bill, which seeks to create a uniform i…