Free Press Journal
  • Indore: GST refund worth Rs 96.45 cr made to 3129 taxpayers in 18 days

    Indore: Addressing the major demand of traders and exporters to release their GST refund, the state goods and service tax (SGST) department cleared refund claims worth Rs 96.46 crore. The department had launched special 15-day drive to redress grievance of businessmen. Though the special drive concluded on Monday, the refund drive will continue.

  • GST leads to formalisation of economy, widening of tax base: Finance Ministry

    New Delhi: The Finance Ministry today said it would be increasingly difficult for businesses to remain outside the tax net as GST is leading to formalisation of the economy. The Goods and Services Tax (GST) was introduced from July 1 last year to subsume plethora of indirect taxes like excise and sales tax.

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    Trade gap widens to 4-month high despite higher exports

    New Delhi : India’s exports grew 20.18 per cent to $28.86 billion in May — the highest in six months, even though the trade deficit widened to a four month high of $14.62 billion.

  • GST refund drive extended till June 16

    New Delhi: The special fortnight-long drive to process pending Goods and Services Tax (GST) refunds has been extended by two more days till June 16. The government launched the second “Special Drive Refund Fortnight” from May 31 to June 14. During the first Refund Fortnight from March 15 to 29, an amount of Rs 5350 crore was sanctioned.

  • Fuel prices will drop instantly if brought under GST, says Chidambaram

    New Delhi: In the wake of the recent petrol and diesel price hike across India, former Finance Minister P. Chidambaram on Monday claimed that fuel prices would immediately come down if brought under the ambit of the Goods and Services Tax (GST). Addressing a press conference here, Chidambaram said the onus for bringing petrol and diesel under the GST should not be on state finance ministers.

  • Pradhan hopeful of bringing oil prices under GST regime

    Bhubaneswar : Union oil minister Dharmendra Pradhan on Thursday voiced optimism that petroleum products will be brought under the GST purview that will help in checking volatility in fuel prices. “In the long run, petroleum products are bound to be included within the ambit of the GST regime … It is only a matter of time. It will immensely help in containing prices of petrol and diesel,” Pradhan said.

  • No question of rollback of fuel price deregulation: Oil Minister

     New Delhi : Sternly ruling out any rollback of deregulation of fuel prices, Oil Minister Dharmendra Pradhan on Wednesday said despite having the burden of repaying oil bonds, the government will take full responsibility of keeping fuel prices in check and ensuring they don’t go out of reach of the common man.

  • Mutual funds told to disclose total expenses charged on daily basis

    New Delhi : Sebi on Tuesday asked mutual fund houses to prominently disclose on a daily basis total expenses charged to customers for all schemes under a separate head on their websites as well as Amfi website. The fund houses need to disclose about name of the scheme, base as well as total TER, additional expense and GST for regular and direct mutual funds plan in a prescribed format. The new directive

  • GST collections in May drops to Rs 94,016 crore: Finance Ministry

    New Delhi: GST collections in May declined to Rs 94,016 crore from over Rs 1.03 lakh crore in April, the Finance Ministry said today. As many as 62.47 lakh businesses filed their summary sales return GSTR-3B in the month of May.

  • NCLAT asks Tata Steel if it will pay dues of Bhushan Steel

    New Delhi: The company law appellate tribunal today asked Tata Steel if it will clear the statutory dues like income tax and GST of Bhushan Steel, a company it had acquired in the insolvency proceedings earlier this month. The National Company Law Appellate Tribunal (NCLAT), hearing appeals against the acquisition filed by Bhushan Steel’s founding Singal family and the firm’s operational creditor Larsen and Toubro, asked Tata Steel to submit a statement

  • L&T Q4 profit rises 5% on higher order intake

    New Delhi : Infrastructure giant Larsen and Toubro (L&T) on Monday registered a 4.72 per cent jump in consolidated net profit helped by a higher order intake during the period.

  • No GST on leasing of land by farmers: Government

    New Delhi: The government on Monday dismissed rumours that farmers would now have to pay 18 per cent GST when they lease out their land from June 1, calling such reports “factually incorrect” and “misleading”. The clarification came a day after Prime Minister Narendra Modi accused the Congress of spreading lies among farmers that if they give their land on contract farming, the government will charge them 18 per cent GST.

  • Number of GST amendments likely in Monsoon Session: Official

    Kolkata: Several amendments to the Goods and Services Tax law is likely to be placed before Parliament in the Monsoon Session, a senior official said today. “There are several amendments to the GST which is proposed to come up during the Monsoon Session of Parliament,” GST Council Special Secretary Arun Goyal said here at a seminar organised by the Merchants’ Chamber of Commerce.

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    Nitin Gadkari advocates bringing fuel under GST to curb price hike

    New Delhi: With petrol and diesel rates skyrocketing on a daily basis,  Road Transport and Highways Minister Nitin Gadkari on Friday advocated bringing fuel under the GST to curb the price hike. “Petrol and diesel should have been brought under the Goods and Services Tax. I asked officials during a presentation if we bring fuel prices under GST will it benefit the states or not.

  • Maharashtra CM for bringing petrol, diesel under GST

    Mumbai: Amid a nationwide outrage over rising fuel prices, Maharashtra Chief Minister Devendra Fadnavis today pitched for bringing petrol and diesel under the purview of GST, saying it would ensure reduction of rates.

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    4 years of Modi Government: After 1,460 days of Modi rule, ‘achhe din’ yet to come, feel experts

    New Delhi: There’s only one year more to go for the BJP-led regime before another test at the hustings. But is the country any nearer to Prime Minister Narendra Modi’s promised ‘acche din‘ (good days)? Four years ago, the country had voted the present regime to power on hopes of better days in all socio-economic-political spheres. But despite some strong structural reforms like GST, and gut-wrenching