In a big relief to small businesses, the Goods and Services Tax (GST) Council has doubled the exemption limit for registration of units with an annual turnover of up to Rs 40 lakh. Earlier,...
Jan 11, 2019
The Goods and Services Tax (GST) Council till date has taken 918 decisions related to GST laws, rules, rates, compensation and taxation threshold since its establishment. The GST Council was...
Oct 30, 2018
The Goods and Services Tax (GST) Council might replace the 12 per cent and 18 per cent slabs with a 14-15 per cent rates, said Bihar Deputy Chief Minister Sushil Modi. He said while...
Aug 03, 2018
The roll-out of Goods and Services Tax (GST) is a unique experiment and is a trailblazer in various ways, while the GST Council is a path-breaking mechanism for seamless interaction between the...
Jul 30, 2018
The tax officials in states and Union territories will hold discussions with trade, industry bodies and small scale industries, with an aim to understand their issues and grievances relating to...
Jul 27, 2018
The format for annual returns and audit is likely to be approved by GST Council in its next meeting scheduled to be held on 21 July. The move is aimed at checking tax evasion. The GST Council...
Jul 10, 2018
Discount is a mode of incentivising customers to buy more goods from the dealer and is an inherent element in any business. It is a cost of doing business which is always accounted for by dealers/...
May 29, 2018
The new single-page return form tries to redress grievances of taxpayers with regard to filing of indirect tax. On the other hand, it has also tried to retain the basic objectives of GST –...
May 09, 2018
In its 27th meeting held via videoconference on Friday, GST Council discussed the move to incentivise digital transactions in order to realise the dream of a less cash economy. "Keeping in...
May 04, 2018
The GST Council has fixed a target of goods and services tax collections worth Rs 12 trillion for the current financial year. The Council is happy with indirect tax collection figures in the...
May 01, 2018
The GST Council will meet on May 4 via video conferencing to chalk out simpler GST return form and also other amendments required in the indirect tax regime rules, said a PTI report. Chaired...
Apr 26, 2018
The e-way Bill system for intra-state movement of goods will be implemented from April 15 in five states - Andhra Pradesh, Gujarat, Kerala, Telengana and Uttar Pradesh. "With the roll-out of...
Apr 11, 2018
Businesses and transporters moving goods worth over Rs 50,000 from one state to another will have to carry an e-way bill. "As per decision of the GST Council, e-way bill system became...
Apr 02, 2018
The 26th GST Council meeting, to be held on March 10 via video conference, will take final decision on simplifying the return process. In its previous Council meeting on January 18, its...
Feb 23, 2018
The businesses in India have been on tenterhooks ever since e-way bill was conceptualised. First, it was proposed to be rolled out from 1 April 2018 by the GST Council in its 22nd meeting...
Feb 15, 2018
The Group of Ministers (GoM) to look into implementation of information technology for the Goods and Services Tax Network (GSTN) has raised concerns over the rising shortfall in average revenue for...
Jan 18, 2018
The GST Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the...
Jan 16, 2018
The Society for Indian Automobile Manufacturers (SIAM) has urged the GST Council to review the highest rate of 28% GST being reviewed on commercial vehicles (CVs). The recommendation comes even as...
Jan 15, 2018
With the GST coming into force in July, the government may not be able to make significant changes in the indirect taxes in the upcoming Budget 2018. The Centre has to get the GST Council’s...
Dec 27, 2017
The GST Council has approved the roll-out of inter-state e-way bill from 1 February 2018. The Council said that the nationwide e-way bill system will be ready to be rolled out on a trial...
Dec 18, 2017
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
The GST Council slashed tax rates of 200 items in its Friday meeting. However, it may further rationalise the indirect tax, depending on revenue buoyancy, said Finance Minister Arun Jaitley...
Nov 14, 2017
The GST Council meeting scheduled on Friday is likely to provide a push to digital payments. A senior government official told ET that a proposal has been made in this regard. The...
Nov 09, 2017
Tax officials have slowly begun clearing pending refunds to exporters of the Integrated GST (IGST). There is no GST on exports; however, exporters have to pay IGST, which is refunded. Official data...
Oct 23, 2017
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
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
The Centre will soon make some important announcements to boost medium and small scale industries, exports and the textile sector. If government insiders are to be believed, a September 27 Cabinet...
Oct 03, 2017
The GST Council will hold its 22nd meeting on October 6. Chaired by Union Finance Minister Arun Jaitley, it will deliberate on frequent glitches in the GST Network and also on issues faced...
Sep 20, 2017
The GST Council would look into the issue of lowering tax structure on government projects, Union Finance Minister Arun Jaitley told K C Rao, the Telangana chief minister. Rao received...
Sep 04, 2017
The GST Council will meet on September 9 in Hyderabad, a senior official in Telangana government told PTI. This will be the 21st meeting of the Council since it was formed in September last year. “...
Aug 25, 2017
The GST Council will meet on August 5 to finalise a mechanism to operationalise anti-profiteering clause which seeks to pass on the benefits of reduction in taxes to consumers, Finance Minister Arun...
Aug 02, 2017
The Goods and Services Tax (GST) Council is likely to take up at its next meeting on August 5 the proposal related to raising e-way bill floor from Rs 50,000. The idea is to reduce the scope for...
Jul 31, 2017
Goods and Services Tax (GST) is for all political parties and for every citizen of India, Power, Coal, Renewable Energy and Mines Minister Piyush Goyal said in an exclusive interview with the...
Jul 17, 2017
The government has started creating awareness via advertisements to inform the common man that the upcoming Goods and Services Tax (GST) will reduce prices of most of the commodities. The...
Jun 05, 2017
With the proposed National Anti-Profiteering Authority, the Goods and Services Tax (GST) Council aims to ensure that corporate India passes on the benefit of reduced taxes under the new tax regime to...
Jun 05, 2017
The goods and services tax (GST) Council's next meeting is scheduled for June 3 to fix rates for goods which have been left out. However, Vanaja Sarna, Chairperson, Central Board of Excise and...
May 30, 2017
The Centre and the states are likely to fix 4 per cent tax rate on gold and silver. While southern states are in favour of a 6 per cent levy for gold and silver, some of the western states...
May 12, 2017
To roll-out Goods and Services Tax (GST) from July 1, the Centre and states will finalise rules and regulations of the new indirect tax regime today after it received the Lok Sabha’s approval...
Mar 31, 2017
The Union Cabinet has approved four legislations needed to implement the Goods and Services Tax (GST) so that it can be introduced in Parliament this week. The cabinet has approved the four...
Mar 21, 2017
In what marks “a significant headway” for finance minister Arun Jaitley, the Centre and the states were able to break a deadlock over the contentious issue of division of administrative control over...
Jan 17, 2017
The two-day GST Council meeting, held on January 3-4, failed to reach consensus on the issue of dual control of Goods and Services tax (GST). The other major contention between the Centre...
Jan 04, 2017
The 1 April 2017 deadline for the rollout of GST law seems infeasible. The GST Council members met for four hours on Sunday, but failed to make consensus on the issue of dual control of assessees...
Dec 12, 2016
The fifth session of the Goods and Services Tax (GST) Council remained inconclusive on the issue of administrative powers on the 10 million indirect assessee base. The Council will again meet on...
Dec 05, 2016
Three draft GST related Laws – Model Goods & Service Tax; Integrated Goods and Service Tax (IGST) and Goods & Service Tax (Compensation to the States for loss of Revenue) were discussed at...
Nov 24, 2016
The Government of India is working on a war-footing to ensure that there is no stone left unturned in making GST implemention possible by the stipulated deadline. In just four days after GST...
Sep 27, 2016
The second day of meet saw GST Council agreeing to a number of issues. It fixed the turnover based exemption limit from such levies at Rs 20 lakh. However, the decision on fixing the actual tax...
Sep 23, 2016
The day one of the first meeting of GST Council, on Thursday, witnessed tumultuous debate over three contentious issues. One of them being the threshold for annual turnover after GST implementation...
Sep 23, 2016
Prime Minister Narendra Modi has asked the officials and ministries of states and Centre to prepare the formalities for the implementation of GST, long before the deadline of April 1, 2017. ...
Sep 16, 2016
The Government of India seems committed to rollout GST law from April 1, 2017, and has begun the process to set up a dedicated secretariat to take care of GST Council. The GST council, which...
Sep 07, 2016