Free Press Journal
  • 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.

  • Manmohan Singh seeks cooperation on GST

    Dr. Manmohan Singh on Thursday said there must be a cooperation between the federal government and the state government to resolve those outstanding issues. “It (GST) can be a game changer but we should not assume that there will be no difficulties on the way. There must be a constructive spirit, cooperation between the federal government and the state government to resolve those outstanding issues,” he said.

  • Let biscuits be in lowest slab under GST: Manufacturers

    New Delhi: Biscuits should be put in the lowest slab under the upcoming GST regime in a bid to encourage ease of doing business and liberal FDI policy, according to manufacturers. The federation, which is an affiliate of the PHD Chamber of Commerce and Industry, further contended that a higher GST rate, even for a segment of biscuits, would impact demand in the entire value chain.

  • Rajya Sabha clears decks for GST rollout from July 1

    New Delhi: Decks have been cleared for a pan-India implementation of the Goods and Services Tax (GST) from July 1 with the Rajya Sabha passing the much-awaited four enabling bills on Thursday.

  • GST Bills in Rajya Sabha today

    New Delhi : All four legislations for implementation of the new Goods and Services Tax (GST) are listed in the Rajya Sabha on Wednesday for consideration and return. These have been already passed by the Lok Sabha and they being the “money bills” only require consideration by the Rajya Sabha and not the passage.

  • GST rate, monsoon key factors for auto sales growth: Toyota

    New Delhi : Tax rates on automobiles in the upcoming GST and monsoon will be crucial factors which will influence the rate of growth of the industry in the new fiscal, according to Toyota Kirloskar Motor.

  • Education, healthcare to be out of GST ambit

    New Delhi : Education, healthcare and pilgrimages will continue to be out of service tax net even under the GST regime as the Centre is against giving any shock in the first year of the rollout by bringing in new services.

  • BMC budget reduced due to demonetisation & GST

    Mumbai: The budget presented by the Brihanmumbai Municipal Corporation (BMC) this year was cut down by around Rs 12, 000 crore for the fiscal year 2017-18. According to a senior officer of the accounts department of BMC, “The steep fall in the budget this year was due to notebandi and also due to the introduction of Goods and Service Tax (GST) Bill which will be implemented from July 1.”

  • GST Council approves 5 rules; rates to be discussed in May

    New Delhi : The all-powerful GST Council on Friday approved five amended rules for the Goods and Services Tax regime and gave “tentative” nod to the remaining four as the central government sprints to meet the July 1 rollout target.

  • GST rates will have no inflationary impact: FM

    “The aim of the GST Council is to decide everything relating to the tax structure with consensus and this is for the first time that such an arrangement has been made, based on the principle of shared sovereignty of both the Centre and the state governments,”          -Arun Jaitley/ Finance Minister (more…)

  • Lok Sabha passes 4 key GST Bills, India inches closer to July rollout

    New Delhi: The proposed Goods and Services Tax (GST) legislation moved a step closer to reality on Wednesday with the Lok Sabha approving four Bills that will subsume a profusion of central and state indirect taxes and help create a single, unified market.

  • GST rates will have no inflationary impact: FM Arun Jaitley

    New Delhi: Allaying apprehension of spike in prices of goods and commodities after the roll out of the GST, Finance Minister Arun Jaitley today said the tax rates will be kept at the current levels so as not to have any inflationary impact.