Free Press Journal
  • GST Council meet: GST rate on 29 items, 54 services cut; return filing to be simpler

    New Delhi: In a bonanza for consumers, the Goods and Services Tax rates are being reduced on many more items (29) and services (53) with effect from January 25. Also, there is a distinct possibility of petrol, diesel and real estate being brought in the GST ambit before the Union budget on February 1. Households can now take a huge sigh of relief as the GST council has cut the tax rate on

  • ASSOCHAM seeks relief to higher education in GST

    New Delhi : The industry body, Assocham, is seeking enhanced outlay for education in the coming budget. The body has also requested some relief to higher education under Goods and Services Tax (GST). The body has sent a communication to the Finance Minister Arun Jaitley on these.

  • Budget 2018: Here is what television stars are expecting

    Finance Minister Arun Jaitley will present the Union Budget 2018-19 on February 1 around noon. Last year as well, the budget presentation date was the same. This will be Narendra Modi government’s fifth and also the last full-fledged budget presentation before the 2019 Lok Sabha polls. This year’s budget session is crucial as it comes after the Modi government made two very big financial decisions in the last couple of years – Demonetisation and

  • India Ratings projects economic growth at 7.1% next fiscal

    New Delhi: India Ratings and Research today projected the country’s economic growth to improve to 7.1 per cent next fiscal from 6.5 per cent this year, buoyed by robust consumption demand and low commodity prices.

  • FM Arun Jaitley to chair 25th GST Council meeting today

    New Delhi: Finance Minister Arun Jaitley will be chairing the 25th meeting of the Goods and Services Tax (GST) Council here on Thursday. The council is expected to hold talks on bringing real estate, stamp duty on a property before registration, petrol and diesel products under the ambit of the taxation scheme.

  • Budget 2018: Hardware dealers suggest simplification of filing GST returns

    Hyderabad (Telangana): Ahead of the Budget session on January 29, hardware dealers here are hopeful of a reduction in Goods and Services Tax (GST) rates, as well as a more streamlined process of filing tax returns. “The introduction of a unified tax system is undoubtedly beneficial to the common man. However, there is a lot of paperwork involved in filing returns. I believe this process should be made simplified for easy filing

  • Indore: Finally, E-Way Bill system begins in state

    Indore: Finally, E-way Bill (EWB) system, a vital component of Goods and Service Tax (GST) regime, kicked-off in the state on the trial basis from Wednesday. The registration and nomination for EWB at NIC portal also began. Since, it’s a trial run of new system, which will be officially implemented from February 1, no penalty will be charged from the errant ones.

  • Budget could realise housing expectations

    The “Housing for All by 2022” mission has set the stage for a robust recovery in the residential property market. In the past two years, we have seen an unprecedented focus on reforms channelised through the Benami Transactions (Prohibition) Amendment Act 2016, demonetisation, Real Estate Regulatory Act (RERA) and the GST regime. So, this time, the Budget for FY2018-19 will be much more critical than ever. The provisions, if moved in positive

  • GST Council meet tomorrow; to focus on digital payments

    New Delhi: The GST Council in its 24th meeting on January 18 will majorly hold discussions over Prime Minister Narendra Modi’s mission for having a digital-based economy, with a focus on incentivisation of digital payment of taxes under the Goods and Services Tax (GST) regime.

  • Union Budget 2018: This Budget is the biggest challenge for the Government

    Unlike most countries, the Budget is usually an eventful affair in India and is a heated topic of national conversation around the time of its release. The underlying national interest behind it is mostly because the budget holds something for everyone — ranging from a small farmer to a big industrialist. However, from this year onwards, much of its sheen will be off by a bit. The tinkering of indirect taxes, which

  • Indore: E-way Bill likely to begin trial run today

    Indore: E-way Bill (EWB) mechanism, a vital component of Goods and Service Tax (GST) regime which was to be launched in state on Tuesday for a trial run, will now be rolled out on Wednesday. Since, it was a trial run of the new system, which will be officially implemented from February 1, no penalty will be charged from the errant users.

  • GST council meeting on Jan 18, will discuss real-estate

    New Delhi: An important Goods and Services Tax (GST) Council meet ahead of the Union Budget is scheduled on January 18. According to sources, discussion of real estate inclusion in GST is the key agenda of this meeting.

  • Indore: GST Law review panel suggests centralised registration for big service providers

    Indore: GST Law review committee recommended about 16 changes in GST-related laws including centralised registration for large service providers operating across 10 or more states with an annual aggregate turnover exceeding Rs 500 crore. There are other changes in process returns which may also be considered by the GST council where law need not be changed and can come by notifications and rules.

  • Indore: Slow pace of 2 GSTN servers hits traders

    Indore: Slow pace of two out of 26 GSTN servers hit traders and tax consultants hard on Wednesday. They faced difficulty in filing returns as some of them were seen working till late hours to file the returns. Wednesday was crucial for traders and tax consultants as it was last date for filing of GSTR-1 for July to November for those whose annual turnover is more than Rs 1.5 crore and also

  • ‘New home launches plunge 78% in 2017’

    Mumbai : Reforms like the RERA, the GST and the note-ban resulted in a steep decline in home launches in 2017, which plunged a full 78 per cent. According to a study by property consultant Knight Frank, homes launches in 2017 plummeted 78 per cent to 1,03,570 units. By comparison, during the peak of the realty boom in 2010, the industry witnessed as much as 4,80,424 units being launched. New launches across

  • No extension of Jan 10 deadline for GSTR-1

    New Delhi: There has been no extension given to Wednesday’s deadline for filing the GSTR-1 return form, an official statement said here, warning assessees registered under the Goods and Services Tax (GST) of a “fake” notice on social media in this regard.

  • Council to discuss GST’s revenue fall

    New Delhi : The Goods and Services Tax (GST) Council is scheduled to meet on January 11 to deliberate on reasons for the fall in revenue collection,  flagged as a major matter of concern for the Finance Ministry, reports the ANI. In November, the GST collection was Rs 80,808 crore, down from a provisional Rs 83,346 crore in October and a peak of over Rs 94,000 crore in July, as per official