Free Press Journal
  • GST Council may take call on annual return forms on July 21

    New Delhi : The format for annual returns and audit is likely to be approved by the GST Council in its meeting on July 21 and industry expects that there could be some reconciliation with annual IT returns as the government aims to check tax evasion.

  • maharashtra, maharashtra traders, apmc, professional tax, GST, APMC market, Vashi

    Success of GST in one year

    Long years ago when the Value Added Tax was first introduced, the traders were up in arms, protesting that it would have a disruptive impact all around. Yet, after the initial glitches, VAT was successfully implemented, everyone got used to it. Ahead of the implementation of the Goods and Services Tax on July 1 last year, there were similar voices, warning that its introduction would prove a disaster, that the country was

  • Tax-free no more: Saudi Arabia, UAE to roll out VAT in 2018

    Dubai: Saudi Arabia and the United Arab Emirates, which have long lured foreign workers with the promise of a tax-free lifestyle, plan to impose a 5 per cent tax next year on most goods and services to boost revenue after oil prices collapsed three years ago. The value-added tax, or VAT, will apply to a range of items like food, clothes, electronics and gasoline, as well as phone, water and electricity bills, and hotel

  • GST Impact: Ola, Uber drivers to pay double lease

    Drivers of Ola and Uber might have to pay twice the amount of tax on leasing under the new GST regime, making the whole business model unsustainable, claim companies. According to industry experts, lease rentals could rise from 14.5 per cent at present to anywhere between 29 per cent and 43 per cent.

  • GST rates finalised: Here’s what you must know

    Food grains will cost less from July 1 when the nation-wide Goods and Service Tax (GST) is rolled out as the GST Council on Thursday decided to exempt the daily-use commodities from the levy. Common use products like hair oil, soaps and toothpaste will be charged with a single national sales tax or GST of 18 per cent instead of present 22-24 per cent tax incidence through a combination of central and

  • Foodgrains to be cheaper under the new GST regime from July 1

    “Cereals will be in exempt list. But what is to be done with packaged and branded food that has to be separately decided. We are yet to make a decision on that,” Arun Jaitley/ Finance Minister.

  • Bhopal: PoS machines to be exempted from VAT, entry tax in state

    BHOPAL: The government is going to bring a proposal in the cabinet meeting to exempt the Value Added Tax and entry tax on the purchase made through point of sale machine to promote cashless transactions in the state.

  • GST Council to hold first meeting tomorrow

    New Delhi: The all powerful GST Council, which will decide on tax rates, exempted goods and threshold, will meet for the first time tomorrow as it races against time to iron out issues between Centre and states for rolling out the new indirect tax regime from April 1, 2017.

  • One Year of GST

    Cabinet notifies constitution of GST Council

    New Delhi: The Cabinet today cleared the process, formation and functioning of the GST Council, which will decide on the rate of tax under the new indirect taxation regime.

  • petrol-prices

    Goa govt to reduce VAT on petrol as price goes up

    Panaji: Goa government today said it will reduce VAT on petrol following the increase in its prices. “We had promised in our budget that we will not allow the petrol prices in Goa to exceed Rs 60 per litre,” Chief Minister Laxmikant Parsekar told PTI.

  • Tax evasion worth Rs 4.25 crore unearthed

    Ujjain : Commercial Tax Department unearthed alleged tax evasion worth Rs 4.25 crore by a group of coal dealers operating in Nanakheda area here on Thursday. The firms are registered as Shubham, Sarthak and Anupam trading, dealing in coal business.

  • LBT

    LBT abolished for most traders in Maharashtra

    Mumbai: Starting today, the Local Body Tax (LBT) has been abolished for most traders in 25 of the municipal corporations in Maharashtra, including those of Thane, Pune and Kalyan-Dombivali. With this the ruling BJP has fulfilled one of its poll promises, that was instrumental in bringing it to power in the state.

  • Satish Upadhyay

    Increase in VAT exposes ‘dual face’ of AAP: BJP

    New Delhi : Delhi BJP chief Satish Upadhyay on Thursday asserted that the increase of Value Added Tax (VAT) by the Aam Aadmi Party Government in Delhi has exposed the dual face of the party. “This once again exposes the dual face of AAP Government. Delhi government did not bring any provision of VAT in the budget. They have presented the people of Delhi the gift of inflation. This government has totally failed