Free Press Journal
  • Indore: 1.25L VAT Act cases yet to be filed for tax assessment, courtesy GST

    Indore: As many as 1.25 lakh cases of financial year 2015-16 were still pending for tax assessment, even as last date of tax assessment was just eight days away. With the December 30 deadline approaching closer, traders and tax consultants were thrown into serious tizyy, and on Friday, demanded extension of the last date of tax assessment to April 30, 2018.

  • GST regime to stabilise in next 18 months: Niti Aayog Vice Chairman

    Bengaluru: The Goods and Services Tax (GST) regime would get stabilised in the next 18 months, Niti Aayog Vice Chairman Rajiv Kumar said today. “Give us time and you will see that in the next 18 months, GST will get stabilised, and this is where I think your (CAs) role is critical,” he said while addressing the Southern Regional Conference of the Institute of Chartered Accountants of India here.

  • Indore: Top brass brainstorms on suggestions, mulling changes in GST law to cut complexity

    Indore: Commissioners of State Goods and Service Tax department of five states, including MP, are examining suggestions to make necessary changes in GST laws to make it further easier and traders’ friendly. Among several other crucial suggestions, the committee is also considering
    to expand the limit of Rs 1.5 crore allowing traders to deposit GST monthly but file returns quarterly. Against the backdrop of certain problems being faced by stakeholders of GST since

  • Bombay High Court

    Bombay High Court issues notices to Centre, CAG on PIL over GST compensation act

    Mumbai: The Bombay High Court today issued notices to the Centre, Maharashtra government and the Comptroller and Auditor General (CAG) of India on a petition challenging the constitutional validity of laws facilitating various kinds of cess under the Goods and Services Tax regime.

  • Parle planning to hike prices of Glucose, Marie biscuits

    Mumbai : Biscuits and confectionery maker Parle Products is planning to increase the prices of its glucose, Marie and milk biscuits by 4-5 per cent in the first quarter of 2018, a company official said.

  • Consumers bat for inclusion of petrol, diesel under GST

    New Delhi: Amid wavering fuel prices, consumers urged that petrol and diesel be brought under the ambit of the Goods and Services Tax (GST), according to a survey.

  • Govt will replace GST ordinance with a bill

    New Delhi/Kolkata :The Cabinet on Friday approved replacing the Goods and Service Tax (Compensation to States) Ordinance by a bill, sources told PTI. The GST (Compensation to States) Act 2017 aims to provide for compensation to the states for the loss of revenue arising on account of implementation of Goods and Service Tax (GST) Act, they said.

  • Petrol, realty could be under GST in future

    New Delhi : The GST Council will consider bringing electricity, petroleum products and some other items under the ambit of the GST in the future, Bihar Finance Minister Sushil Modi said on Thrusday. “Electricity, real estate, stamp duty and petroleum products should become part of the GST. This would be our (GST Council) endeavour,” he said at the annual meet of the industry chamber FICCI. He, however, said it would be difficult

  • End tax flippancy, we’ll double volume in two years: Merc CEO

    Mumbai : Disappointed over the frequent tinkering with taxes and regulations, luxury car-maker Mercedes-Benz India says it can “easily double the volume and add to the number of jobs” if the taxation approach to the segment turns more conducive and stable. Despite a tough environment, Pune-based Mercedes-Benz was on a roll till September, selling 20 per cent more units in the first nine months of 2017 at 11,869 compared to the year-ago

  • Indore: Anti-profiteering application form of GST regime launched

    Indore: The Central Board of Excise and Customs (CBEC) released anti-profiteering application on Friday. Any customer can approach anti-profiteering committee with complaint of high price. The Anti-Profiteering Application Form (APAF – 1) is a component of the GST regime.