Taxmen can't visit shopkeeper's premises without authorisation
The finance ministry came out with a clarification after reports suggested that some unscrupulous elements posing as GST officers have tried to fleece shopkeepers and customers in the name of GST.
Jul 08, 2017, 14:44 PM IST
Black gold: India tax hike could boost illegal bullion, jewellery sales
As part of a new nationwide sales tax regime that kicked in on July 1, the Goods and Services Tax (GST) on gold has jumped to 3 percent from 1.2 percent previously, with traders and buyers saying the move will likely force more transactions into the black market.
Jul 04, 2017, 12:32 PM IST
GST benefits: Companies need to provide info to airlines for business class tickets
The Goods and Services Tax (GST) framework, which came into effect from July 1, provides for certain input tax credit only on business class tickets and there is no such provision on economy class fares.
Jul 02, 2017, 16:56 PM IST
Tractor components GST rate cut to give relief to farmers: TMA
The GST Council on Friday cut tax rate on exclusive parts of tractors from 28 percent to 18 percent, while also announcing reduction on fertilisers to 5 percent from previously decided 12 percent.
Jul 01, 2017, 17:14 PM IST
Effective GST rate on under-construction real estate at 12%
On Thursday, the government hiked the GST rate for the construction sector to 18 percent from 12 percent but removed land value from computation of tax liability.
Jun 30, 2017, 20:07 PM IST
Will pass on GST benefits to consumers: Nestle
Under GST, which will be implemented from midnight tonight, there will be no tax on fresh milk.
Jun 30, 2017, 16:41 PM IST
Regional cinema will be adversely affected by GST rate: Kamal Haasan
Veteran actor Kamal Haasan has hit out at the Central Government for announcing 28% tax slab under the GST ( Goods and Services Tax) for cinema.
Jun 04, 2017, 09:40 AM IST
Important meeting of GST Council today; to finalise rates on gold, textiles
The GST Council had last month fitted over 1,200 goods and 500 services in the four tax brackets of 5, 12, 18 and 28 percent. Beside, it had imposed cess over and above the peak rate of 28 percent on demerit and luxury goods.
Jun 03, 2017, 09:31 AM IST
GST Council to finalise rates on gold, textiles today
The GST Council will on Saturday finalise taxes to be levied on six commodities, including gold, textiles and biscuits, as the Centre and states gear up to roll out the new indirect tax regime from July 1.
Jun 02, 2017, 16:29 PM IST
Look at existing levy before seeking GST rate cut: Jaitley
Finance Minister Arun Jaitley on Thursday asked industry to look into the existing incidence of indirect tax before seeking reduction in Goods and Services Tax rates as proposed by the GST Council.
Jun 01, 2017, 17:42 PM IST
High tax on amusement parks to hit industry: IAAPI
Amusement park operators on Thursday asked the government to revise GST rate on the sector saying it was unfair to put entertainment industry for children at par with casinos, betting and race courses.
Jun 01, 2017, 17:36 PM IST
Govt clarifies tax on solar power equipment, parts at 5%
India will levy a 5 percent tax on all equipment required for generating solar power compared with nil duty now, a government official clarified, putting an end to confusion about the new taxation policy for the industry after its landmark tax reform.
May 29, 2017, 13:59 PM IST
India gold demand drops off as buyers await new tax regime
Gold demand in Asia tapered off this week as buyers took to the sidelines in India to await a new national tax policy and as China entered a seasonal slowdown.
May 26, 2017, 17:46 PM IST
'Lower tax on coal under GST to help CIL clear stockpile'
The 5 percent GST on coal will help state-owned CIL to find consumers for its 62 million tonnes of stock piled up at its pithead, an official said.
May 25, 2017, 18:20 PM IST
Realtors differ over GST's impact on housing prices
Real estate bodies Naredco and Credai Wednesday gave contrasting assessments of the impact of GST on housing prices, highlighting the prevailing confusion in the sector regarding the new indirect tax regime.
May 24, 2017, 20:28 PM IST
'Decision to place 28% GST rate on cinema halls discouraging'
The government's decision to put cinema exhibition industry in the highest tax slab of 28 per cent under GST regime along with luxury items will affect quality of contents and growth of multiplex industry, said PVR Chairman and MD Ajay Bijli.
May 24, 2017, 18:54 PM IST
GST to add 0.40% to growth rate; won't stoke inflation: HSBC
The GST rollout will add 40 bps to GDP, lower than earlier estimates as multiple tax rates and exemptions announced under it are far from an 'ideal' structure and could blunt the growth impact of the reform process, says an HSBC report.
May 24, 2017, 15:27 PM IST
CREDAI seeks abolition of stamp duty on landed property
Real estate sectoral body CREDAI has urged the state governments to do away with the stamp duty on landed property to eliminate multi-point taxation after the introduction of GST.
May 24, 2017, 15:13 PM IST
GST rollout: FM Jaitley promises no surprises in rate fixation under new tax regime
Finance Minister Arun Jaitley on Friday promised not to spring any surprises in fixing tax rates under the new GST regime, saying they will not be "significantly different" from current levels.
Apr 28, 2017, 12:48 PM IST
FM Jaitley promises no surprises while fixing tax rates under GST
Finance Minister Arun Jaitley on Friday promised no surprises while fixing tax rates under GST.
Apr 28, 2017, 11:36 AM IST
