GST

The US administration's Economic Report of the President (ERP) has stated that India's growth has slowed due to the effects of its structural economic reforms.   "Growth in India has slowed due...
Feb 23, 2018
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The revenues from the Goods and Services Tax (GST) is likely to cross Rs 1 trillion a month after anti-evasion measures like matching of tax data and e-way bill are in place, finance ministry...
Feb 14, 2018
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The Budget has given Rs 120 billion benefits to salaried class and senior citizens, said Finance Minister Arun Jaitley in Lok Sabha on Thursday.   He was responding to a debate on the Budget...
Feb 09, 2018
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The Reserve Bank of India has announced measures to bring relief to micro, small and medium enterprises (MSMEs), which are impacted by GST rollout and the note ban.    The central bank gave...
Feb 08, 2018
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Tax

Background   With automation and Artificial Intelligence (AI) becoming buzzwords today, taxpayers need to be alive to the real-time requirements of data tax administrations in their drive to...
Feb 06, 2018
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1.We have moved from GSTR1, 2, 3 regime to GSTR-3B regime. Now the e-way bills are also being rolled out in a staggered manner. What are the implementation challenges for finance? How do you see...
Feb 05, 2018
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The government has projected fiscal deficit target at 3.3 per cent of GDP for the fiscal year 2018-19.    The target is higher than 3 per cent as projected in the fiscal consolidation roadmap...
Feb 01, 2018
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Budget Highlights: Economy will grow at 7.2-7.5% in second half of 2018-19 PSU banks are ready to support growth and achieved 7.5% average growth in 3  years of NDA govt We have decided...
Feb 01, 2018
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The Goods and Services Tax (GST) has increased indirect taxpayer base by more than 50 per cent with 34 lakh businesses coming into the tax net, said the Economic Survey.   The new indirect tax...
Jan 30, 2018
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Addressing bad loan crisis of the public sector banks (PSBs) and GST roll-out last year have the potential to raise the GDP numbers of the Indian economy, said Finance Minister Arun Jaitley, who...
Jan 29, 2018
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The Economic Survey, presented today by the Union Finance Minister Arun Jaitley in Parliament, highlighted 10 new economic facts on the Indian economy.   1. Goods and Services Tax (GST) has...
Jan 29, 2018
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The government officials are worried that India's ranking in the World Bank's ease of doing business index may not see a good jump if the errors under GST regime are corrected early.   The...
Jan 25, 2018
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The government is likely to postpone for six months GST imposed on suppliers selling products on e-commerce websites like Flipkart and Amazon, etc.   This has come as a big relief to e-commerce...
Jan 24, 2018
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The government is likely to bring the composition scheme under the reverse charge mechanism right away due to apparent GST evasion. The government will move an amendment to the GST law in the...
Jan 22, 2018
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A quick look at 2017 India’s robust growth trend, coupled with economic and political changes over the previ­ous years, has facilitated Asian growth, making it one of the fastest growing regions in...
Jan 19, 2018
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The GST Council will meet on Thursday to ease the compliance burden on companies.    Among many measures include a simpler return form and potentially lower rates on some goods.   The...
Jan 17, 2018
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Exporters are hopeful that the government would redress their concerns after the Budget.   In a letter to the Union Commerce Ministry, many export bodies have sought refunds of their dues...
Jan 16, 2018
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Fast-moving consumer goods (FMCG) and information technology (IT) companies are planning to petition the high courts in Delhi and Mumbai, seeking more clarity on the anti-profiteering clause in GST...
Jan 15, 2018
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The taxpayers' base for goods and services tax (GST) is set to cross one crore mark, said an ET report.   "We will have one crore taxpayers in a day or two," a government official was quoted as...
Jan 11, 2018
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The credit rating agency Crisil has maintained India's growth rate at 7.6 per cent for FY19.   The agency cited the impacts of the demonetisation, GST implementation and weakness in agriculture...
Jan 09, 2018
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The disruptions caused by GST and demonetisation are set to fade out in 2017 and the country's economy will record higher growth over they year, said a report by HSBC.   The report said India's...
Jan 03, 2018
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The last leg of 2017 did not pan out exactly the way the Narendra Modi government would have wanted it to. It also showed the kind of policy challenges that the government will have to deal with in...
Jan 02, 2018
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With Centre and states relying heavily on petroleum sector for revenue, Assocham says consensus to bring petroleum products in the ambit of GST would never emerge.   The the Centre is in favour...
Dec 26, 2017
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With major states going to polls in 2018 , India Inc will have to factor in political realities weighing on economic decisions of the government, including in the forthcoming Budget, Assocham said...
Dec 18, 2017
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The government may allow use of stickers to display revised MRP on unsold pre-GST stocks till March 2018, as per an ET report.  "The department of consumer affairs will most likely extend it, and...
Dec 13, 2017
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Chief Economic Advisor Arvind Subramanian is of the view that policy experiments like demonetisation and GST rollout could have "reinforced" the growth deceleration that had already set in, a PTI...
Dec 01, 2017
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The country’s economic growth rose to 6.3 per cent in the July-September quarter, as against dismal growth rate of 5.7 per cent in the first quarter.    The growth in second quarter marked a...
Dec 01, 2017
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Prime Minister Narendra Modi wants the consumer affairs ministry to have a "special focus" on complaints from consumers regarding the goods and services tax (GST) and overcharging by retail outlets...
Nov 28, 2017
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The divestments and increased goods and services tax (GST) collections will help government meet fiscal deficit target, says a report.   "Disinvestment drive and GST rollout will reduce...
Nov 28, 2017
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In order to ensure consumers reap the full benefit of price cuts due to the GST, India may adopt a product-specific approach which means that a company will not be able to reduce prices of slow-...
Nov 27, 2017
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GSTN chairman-led panel plans to take up a discussion with tax experts on making GST returns filing easier for businesses.   The committee comprises tax commissioners of Karnataka, Gujarat,...
Nov 22, 2017
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The Government of India may combine 12 per cent and 18 per cent tax rates for goods and services tax (GST) into one, while 28 per cent rate will be fixed for demerit goods, chief economic adviser...
Nov 21, 2017
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The Union Cabinet has given nod for the creation of the posts of chairman and technical members of the National Anti-profiteering Authority (NAA) under GST. The apex body is aimed at ensuring that...
Nov 17, 2017
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Chief Economic Adviser Arvind Subramanian, on Wednesday, hinted that there might be further rationalisation of the GST structure. He said that the GST Council’s decision to prune the list of items...
Nov 16, 2017
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Grant Thornton’s M&A Dealtracker report for October 2017 shows that YTD 2017, overall deal activity (M&A and PE) saw a marginal increase of 3 per cent in deal values, with deals worth USD...
Nov 13, 2017
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V S Krishnan   India signed tax super treaty along with 67 other countries in June. BEPS is a multilateral instrument that will swiftly modify more than 2,000 active tax treaties and is aimed...
Nov 08, 2017
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The world order has lost all semblance of normality. The US has forsaken the idea of the world being its fiefdom, China’s bellicosity is on the rise and Europe is in thrall to the uncertainties of...
Nov 08, 2017
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World Bank has rewarded India for its steps towards enabling ease of doing business in the country.    In the recently released Ease of Doing Business Index, carried out in 190 countries, India...
Nov 06, 2017
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The maximum retail price (MRP) of a product should include the GST component for the convenience of the consumers, suggested Bihar deputy chief minister Sushil Kumar Modi. The deputy CM, who also...
Nov 03, 2017
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It may soon be simpler for you to file your goods and services tax (GST) returns. The government is reportedly reviewing a proposal to tweak the filing process which has been criticised for being...
Nov 01, 2017
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The index of eight core industries has expanded at its fastest pace so far this fiscal, suggesting that the impact of GST rollout may be wearing off. As per official data, the eight core industries...
Nov 01, 2017
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In furtherance to earlier reports in the media that the government is planning to move the financial year to January-December from April-March, the change is now likely to happen only after 2019. “...
Nov 01, 2017
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The billing and compliance burden of retailers has been eased further, as they won’t have to issue long invoices detailing prices and taxes for each item under the GST regime. They won’t have to...
Oct 25, 2017
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The credit rating agency SMERA has welcomed the relief measures announced by the GST Council on October 6. The announcements will go a long way in providing relief to a large number of micro small...
Oct 11, 2017
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Revenue Secretary Hasmukh Adhia has said the Government of India will clear pending GST refunds of exporters by end of next month.   As per him, the GST Council has decided to revert to the pre...
Oct 09, 2017
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Finance Minister Arun Jaitley has said that India must grow at a faster pace, adding that the public supported the reform initiatives, such as GST, despite the difficulties related to the reforms....
Oct 09, 2017
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The recent dip in India's economic growth is an "aberration", which will get corrected in the months to come, said World Bank President Jim Yong Kim.   The biggest factor to slowdown was the...
Oct 06, 2017
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The Government of India says decline in growth is a short term phenomena, which will not last for long.   It expects the economy to pick pace in the second quarter of 2017-18, as the issues...
Oct 04, 2017
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The Government of India will work to mitigate the pains arising out of GST implementation, said Revenue Secretary Hasmukh Adhia in an interview with ET.    As per him, there is scope for...
Oct 03, 2017
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Union Finance Minister Arun Jaitley has defended the government's economic management, demonetisation and tax reforms.   He dismissed the "so called" slowdown and told that there were robust...
Sep 29, 2017
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