Free Press Journal
  • Indore: GST officer will have power to award jail term up to 5 years

    Indore: In the new indirect tax regime, GST officers will have special powers to punish businesmen. On conviction of tax evasion, an officer can award five year jail term to the convicted trader/manufacturer and impose fine as well.

  • GST to boost domestic manufacturing, won’t up inflation, says Adhia

    New Delhi : The Government on Tuesday said GST will not lead to inflation and rather make domestic goods competitive via-a-vis imported items. Revenue Secretary Hasmukh Adhia dismissed fears that GST implementation will lead to a spurt in prices, saying that unlike in other countries, the transition to the new tax regime would be smooth in India.

  • ‘Historic moment’ for Bihar as it adopts GST: Nitish Kumar

    Patna : Both the Houses of Bihar Legislature unanimously adopted the Goods and Services Tax (GST) bill along with the Bihar taxation (Amendment) Bill, becoming the second state after Telangana to pave the way for roll out of the GST from July 1. Bihar Legislative Assembly as well as Legislative Council adopted the Bills related to GST with one voice.

  • Expect hike in small cars under GST

    New Delhi : Small and mid-sized cars may see a small hike in prices after the Goods and Services Tax (GST) is rolled out from July 1 as different goods are fitted into the four-slab rate structure. The GST will unify at least 10 central and state taxes into one. Goods and services will have to fall into one of the approved four rate categories of 5, 12, 18 and 28 per cent,

  • India’s growth to accelerate further due to GST: Jaitley

    Washington : India continues to be the fastest growing major economy in the world and its growth will accelerate further due to factors like implementation of GST, Finance Minister Arun Jaitley said.  The minister also said the scrapping of old Rs 500 and Rs 1,000 notes will increase tax compliance and reduce threat of counterfeit currency. “India continues to be the fastest growing major economy in the world…The currency reform initiative will move

  • Narendra Modi-031216

    Prime Minister Modi seeks states’ support for growth

    New Delhi: Prime Minister Narendra Modi said on Sunday that states need to work together for what he calls a vision to create a “New India” while addressing a meeting of the Niti Aayog’s governing council that was skipped by chief ministers Mamata Banerjee and Arvind Kejriwal — two of his staunchest critics.

  • Biz can seek advance ruling on tax liability under GST

    New Delhi : The government has allowed businesses to seek advance ruling on tax liability of any deal or valuation of goods once the Goods and Services Tax (GST) is rolled out from July 1.

  • India records impressive growth in recent years: IMF

    Washington : India’s growth has been “impressive” in the recent years which makes room for tax broadening efforts by the government, according to a top IMF official.

  • GST

    Now Gems and Jewellery sector looks at GST Council with hope

    Mumbai : All India Gems and Jewellery Trade Federation (GJF), the national body of the gems and jewellery industry, presented a set of recommendations to the Goods and Services Tax (GST) Council recently. The body believes that the industry will suffer in the long run, if the Government does not ensure that the cumulative incidence of GST is below 1.25 per cent and if one standard HSN code (up to 4 digit)

  • Bhopal: Workshop on GST on April 20

    BHOPAL: The PHD Chamber of Commerce and Industry will organise a day-long awareness workshop on Goods and Services Tax (GST) on April 20 at Hotel Sayaji, Van Vihar Road.  The workshop will discuss various issues pertaining to GST. Chief commissioner, customs, central excise and service tax Bhopal, Hemant A Bhat, deputy commissioner, department of commercial tax Madhya Pradesh, Sudip Gupta and tax consultant RS Goyal will be key speakers.

  • Sudip Gupta, deputy commissioner commercial tax department, addressing participants in workshop
organised on GST awareness here on Wednesday. (Left to right) Neelu Sadana, regional secretary, Indo-
American Chamber of Commerce NIC, Sameer Gupta lawyer and associate Phoenix Legal, Aseem Chawla,
regional vice president Indo-American Chamber of Commerce NIC, Preeti Johri, asstt commissioner,
commercial tax, Dr Jayant Sonwalkar, dean & head, Devi Ahilya University, Indore Rajesh Bhatia, director FIEO
MP Chapter Indore

    Indore: ‘GST will have less tax load’

    Indore: Sudip Gupta, an exponent of Goods and Service Tax (GST) and deputy commissioner of Commercial Tax Department (CTD) has said that while drafting the new indirect tax structure, it has been maintained that there should be less tax element. However, after rolling out GST, tax may be increased on some items while others may have less tax load.

  • ‘E-commerce term too wide in GST, may cover commodity exchanges’

    New Delhi : Industry chamber Assocham on Sunday asked the government to clearly define the scope of e-commerce under the Goods and Services Tax (GST) regime, as the current  definition is wide enough to even cover commodity derivatives exchanges.

  • GST-seminar-ujjain

    Ujjain: Tax practitioners organise seminar on GST

    Ujjain: Tax Practitioners Association of Ujjain organised a seminar on GST to discuss the nuances of the new tax to be levied on sale, manufacture and consumption of goods and services at the national level tentatively from July 1.

  • CBEC proposes e-way bill for goods worth `50k in transit

    New Delhi : Moving goods worth more than Rs 50,000 under GST will require prior online registration of the consignment and securing an ‘e-way bill’ that tax officials can inspect anytime during the transit to check tax evasion.

  • Service tax to move up from 15% to 18% under GST: Hasmukh Adhia

    New Delhi : Services sector is likely to attract a higher tax rate of 18 per cent from the current 15 per cent under the Goods and Services Tax (GST) regime, thus making services  “slightly” more expensive, Revenue Secretary Hasmukh Adhia has said.

  • Chidambaram asks Centre to push GST to October 1

    New Delhi : Former union finance minister P. Chidambaram on Tuesday opined that the Centre’s effort to roll out the Goods and Service Tax (GST) law by July 1 was “impractical and undesirable” and asked the government to push the date to October 1.

  • 65k companies in Mumbai migrated to GST

    Mumbai : Approximately 65,000 firms, out of around one lakh in Mumbai zone have already migrated to the GST so far, a senior Service Tax department official said.