Free Press Journal
  • GST proves itself

    The Goods and Services Tax collections, according to official data, crossed the Rs one- lakh mark in April. Actually, the total receipts were Rs 1,03,458 crores. The Government has reason to smile. After the initial hiccups, major and minor snafus over a flawed design of the GST platform and an overburdened website, the GST was, after all, adapted by the taxpayers. The criticism that it was badly designed and hurriedly implemented without

  • GST revenue collected for April exceeds Rs 1 lakh crore

    New Delhi: The Centre on Tuesday stated that the revenue collected towards Goods and Services Tax (GST) for the month of April 2018, surpassed the Rs.1lakh crore mark. As per the Ministry of Finance, the total gross GST revenue collected in the month of April stood at Rs.1,03,458 crore, consisting of Central GST (CGST) worth Rs.18,652 crore, State GST (SGST) of Rs.25,704 crore, Integrated GST (IGST) of Rs. 50,548 crore (including 21,246

  • GST collections hit Rs 7.41L cr

    New Delhi : India collected Rs 7.41 lakh crore in taxes in the first year of the Goods and Services Tax (GST) with revenues for a good part of four months not being accounted for because of the mid-year rollout and an accounting lag.

  • Govt collectes Rs 7.41 lakh crore from GST in FY18

    New Delhi: The government mobilised Rs 7.41 lakh crore from the Goods and Services Tax (GST) during 2017-18, according to the finance ministry. The government rolled out the GST regime from July 1 last year.

  • mumbai, mumbai central station, woman attempts suicide, suicide, suicide attempt, GST, Demonetisation

    Woman attempts suicide at Mumbai Central station, blames Demonetisation and GST

    Mumbai: Even as the union government claims that the problems caused by demonetisation and Goods and Services Tax (GST) have been fully resolved, the impact of these two financial decisions still continues to horrify citizens. One such instance was witnessed at Mumbai Central railway station on Monday when a woman attempted to commit suicide there while blaming demonetisation and GST. The lady was, however, saved by a Government Railway Police (GRP) officer.

  • India’s reforms bearing fruits, make case for more steps says IMF official David Lipton

    Washington: The reforms carried out by India has been bearing fruits and benefiting people, making a strong case for more steps, a top IMF official has said. The implementation of the goods and services tax (GST), despite a bumpy road, is going to help secure the solidity of foundation of public finances, David Lipton, the International Monetary Fund (IMF)’s First Deputy Managing Director David Lipton, told PTI.

  • Indore: GST return form to become simpler

    Indore: The GST return form will be made simpler as it will be of single-page. This will be a major relief to tax payers in the new tax regime. According to tax consultants, GST Council has proposed a single-page return form after consulting tax experts and industry leaders with the objective of simplifying the process for filing returns.

  • Government considering bringing reimbursement earnings in private sector under GST

    New Delhi: Trust this government to eye even the reimbursement earnings in the private sector. This large lucrative pie may come within the taxation net with the government considering bringing “indirect earning” under the Goods and Services Tax (GST). The relevant amendment in the GST rules may be discussed and approved in the next meeting of the GST Council, reports IndiaToday.com. The logic until now was simple: the reimbursements are not taxed

  • Embassy to invest $1 bn in warehousing space

    Mumbai : Betting big on the growing demand for warehousing, Embassy Industrial Parks plans to invest around $1 billion in 3-4 years to take its total space 30 million sq ft, a senior company official said.

  • Do you know the full name and nickname of GST or have you even wondered whether GST have a nickname too

    The Goods and Services Tax (GST), certainly being a favorite to become India’s biggest tax reform since Independence, was rolled out on 1st of July 2017, conceived on the principle of ‘one nation, one tax, one market’, promising to be an effective tax system that subsumes 17 central and state levies. The movement of goods had now become much simpler across the country and cheaper as the new regime had replaced the old system,

  • Are you aware about the GST Rate Finder App Launched : If Not Then You Are At The Right Place

    For any business to conduct its operations in a GST compliant fashion, it is important to be aware of the HSN / SAC codes of the goods and services that it deals in, and also the corresponding GST rates. Given the extensive list of goods and services which have been classified as taxable supplies under GST, it may not be feasible for a business, at least in the transition phase, to operate by committing

  • Implementation of GST not ‘unfixable’ problem, says Raghuram Rajan

    New York: Proper implementation of the Goods and Services Tax (GST) in India can be worked upon and is not an “unfixable problem”, former RBI governor Raghuram Rajan has said, reiterating that demonetisation was “not a well-planned, well thought-out” move.

  • Congress MP Gurjeet Singh Aujla seeks GST roll back on langar

    New Delhi: Sporting a kurta imprinted with a demand for roll back of GST on the ‘langar’, a free communal kitchen, at the famed Golden Temple, Congress MP from Amritsar Gurjeet Singh Aujla stood out in the Lok Sabha today. Amid the din in the House with AIADMK members demanding immediate constitution of the Cauvery Water Management Board, Aujla made many heads turn with the colourful message printed on his white Kurta.

  • Indore: Six anti-evasion bureaus of SGST Deptartment carryout verification of EWB

    Indore: Following rolling out of GST from July 1 last year, one of its major components, E-Way Bill (EWB), for inter-state movement of goods is going to be implemented from Saturday midnight. The verification of EWB is given to MP State Goods and Service Department (SGST), which has constituted six anti-evasion bureaus, including two in the city.

  • Indore: GST; Last chance to opt for composition scheme is March 31

    Indore: The traders who wish to opt for composition scheme under Goods and Service Tax (GST) regime from April 1 will be required to apply for it before March 31. It is necessary for traders that their total turnover in last financial year is below Rs 1 crore. The scheme holders have to pay 1% GST.

  • Finance Minister asks businesses to register on e-way bill platform ahead of April 1 rollout 

    New Delhi: With just three days left for the e-way bill rollout, the government has asked businesses and transporters to enrol on the dedicated platform as only around 11 lakh entities have registered so far, officials said today. Businesses would be required to present the electronic way (e-way) bill to a GST inspector (if asked) for inter-state transportation of goods worth over Rs 50,000 through road, railways, airways and vessels.