The goods and service tax (GST) is finally slated to be rolled out on July 1, 2017. And the journey so far has been anything, but easy. The fact that the proposed date of implementation for the tax has been shifted several times (from April, 2010 to April,2013 to April 2016 to now finally to [&he…
Tag: SERVICES
GST: An idea whose time has come!
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…
GST implementation won’t trigger price rise, says Nirmala Sitharaman
Allaying apprehensions that GST (Goods and Services Tax), to be rolled out from July 1, will cause negative growth and confusion, Union Minister of State for Commerce and Industries Nirmala Sitharaman said the GST will not trigger a price rise. In fact, it will bring down the prices besides accru…
Leniency in GST laws for genuine mistakes initially: Hasmukh Adhia
With the countdown to GST rollout underway, government has promised leniency in enforcing penal laws for violations during the initial period of implementation of the new national sales tax regime. Revenue Secretary Hashmukh Adhia said a distinction would be made between genuine mistakes in …
New tax regime to create need for 1.3 m professionals; India Inc rush to get GST math right
GST has infused optimism in the job market. As the goods and services tax rollout date nears, companies across sectors are rushing to get their GST teams in place, leading to a jump in demand for tax and technology professionals. The demand is being led by the FMCG sector, followed by consumer go…
GST: 2,500 जरूरी वस्तुओं के दाम तय करेंगे वित्त मंत्री
गुड्स ऐंड सर्विसेज टैक्स (जीएसटी) लागू होने के बाद वस्तुओं की कीमतें नियंत्रित रखने के लिए वित्त मंत्रालय सामान्य जरूरत के 2,000-2,500 सामानों और सेवाओं की कीमतें तय करने पर काम कर रहा है। सरकार इस बात पर भी गौर कर रही है कि अभी उनकी कीमतें क्या हैं और जीएसटी लागू होने के बाद […]
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How GST will be a turning point for SMEs
Introduction of the Goods and Services Tax (GST) after a decade-long deadlock is a welcome measure for Indian small and medium enterprises (SMEs). India’s approximately 51 million SMEs are vital for its economy, contributing 45 per cent to the country’s GDP and employing 450 million people. GST h…
A quick guide to India GST rates in 2017
The Goods and Services Tax (GST) has been one of the key things that has caught the attention of the market given its implications on earnings of companies. The government has kept a large number of items under 18% tax slab. The government categorised 1211 items under various tax slabs. Here is a…
Afraid of GST, retailers are limiting their purchases
Afraid of possible losses after the July implementation of goods and services tax (GST), many small retailers and wholesalers have limited the quantity of products they buy from consumer goods companies. The fear is a result of the worry that once GST gets implemented, it would apply on the goods…
Nepal to establish SEZs to facilitate trade and investment
Buoyed by success of some of India’s Special Economic Zones, Nepal has drawn up ambitious plans for SEZs and Industrial estates along Indo-Nepal border offering Indian industries opportunity to set up units there. “Investing within SEZ has multiple benefits that include flexible and investment fr…