GST Council recommends rate structure for Petroleum and Oil Sector
New Delhi, Oct 11 (IBNS): The Union Ministry of Finance announced on Wednesday that to reduce the cascading of taxes arising on account of non-inclusion of petrol, diesel, ATF, natural gas and crude oil in GST and to incentivise investments in the E&P (exploration and production) sector and downstream sector, the GST Council has made several recommendations.
GST Council approves relief package for exporters at its 22nd Meeting
New Delhi, Oct 7 (IBNS): A relief package for exporters was approved by the GST Council at its meeting in New Delhi on Friday.
GST Council spells out Composition Scheme and relief for SMEs
New Delhi, Oct 7 (IBNS): The Goods and Services (GST) Council has considered the implementation experience of the the past three months and gave relief to small traders in the GST, Union Finance Minister Arun Jaitley said following the 22nd meeting of the Council in New Delhi on Friday.
GST Council recommends changes to ease burden of small and medium businesses
New Delhi, Oct 7 (IBNS): The Goods and Services Tax (GST) Council, in its 22nd Meeting in New Delhi, under the chairmanship of the Union Minister of Finance and Corporate Affairs, Arun Jaitley, has recommended changes to ease the burden of compliance on small and medium businesses, according to media reports on Saturday.
Economy needs to grow at 7 per cent in the next three quarters: Dr C. Rangarajan
New Delhi, Sept 22 (IBNS): To get 6.5 per cent for the year as a whole, the economy needs to grow at 7 per cent in the next three quarters, probably rate of growth will be around 6.5 per cent, said Dr C. Rangarajan, Former Chairman-Economic Advisory Council to the Prime Minister of India & Former Governor, RBI at an ASSOCHAM event held in New Delhi today.
India is changing fast into one of the most open economies in the world: Modi
Xiamen, Sep 4 (IBNS): Prime Minister Narendra Modi on Monday said India is changing fast into one of the most open economies in the world.
July GST collections stands at Rs 92,000 crore: Arun Jaitley
New Delhi, Aug 29 (IBNS): Union Finance Minister Arun Jaitley on Tuesday announced that total revenue of GST paid under different heads upto Aug 29 was Rs.92,283 crore.
Jaitley asks states to reduce VAT on Petroleum Products used for manufacturing
New Delhi, Aug 18 (IBNS) : Union Fiance Minister Arun Jaitley has written to State Chief Ministers urging the States to reduce burden of Value Added Tax (VAT) on Petroleum Products used as inputs in making of goods after the introduction of Goods and Services Tax (GST).
New Delhi, Aug 16 (IBNS): The Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi today has given its approval to the Scheme of providing Budgetary Support under Goods and Service Tax Regime for the eligible industrial units located in State of Jammu & Kashmir, Uttarakhand, Himachal Pradesh and North Eastern States including Sikkim.
56000 new enrolments in GST from West Bengal, the highest among the states, says MoS Finance
Kolkata, Aug 12 (IBNS): 56000 dealers have registered for GST in West Bengal and so far this is the highest enrolment from a state, said Arjun Ram Meghwal, MoS for Finance & Corporate Affairs at a seminar in Kolkata on Saturday.
Transport Ministry publishes booklet to explain benefits of GST
New Delhi, Jul 26 (IBNS): The Ministry of Road Transport & Highways said on Wednesday that the transport sector stands to benefit from the recently rolled out Goods and Services Tax (GST) in several ways and the Ministry has also prepared a booklet explaining the benefits.
Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017
New Delhi, July 19 (IBNS): The Union Cabinet chaired by Prime Minister Narendra Modi on Wednesday given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) Bill, 2017.
GST registration ends on July 30: Govt
New Delhi, July 15 (IBNS) The government has set July 30 the date as the deadline for registration of GST.
Dismantling check posts, post- GST save 24-36 hrs trucking time on trunk routes: ASSOCHAM
New Delhi, July 11 (IBNS): Notwithstanding some teething troubles, the GST is saving trucking time on trunk routes, connecting top cities, between 24-36 hours besides saving the fleet owners Rs 5,000 -7,500 per trip by way of corruption at the octroi and sales tax/VAT check posts which have since been dismantled by most of the states, an ASSOCHAM quick check has noted.
CBEC issues clarification regarding GST for restaurants
New Delhi, Jul 11 (IBNS): The Central Board of Excise & Customs under the Union Finance Ministry and responsible for administering indirect taxes in India, issued a clarification on Tuesday regarding Goods and Services Tax (GST) for restaurants.