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.
Jammu and Kashmir joins GST today
New Delhi, July 8 (IBNS): President of India Pranab Mukherjee promulgated on Saturday two ordinances, namely, the Central Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 and the Integrated Goods and Services Tax (Extension to Jammu and Kashmir) Ordinance, 2017 extending the domain of Central GST Act and the Integrated GST Act to the State of Jammu and Kashmir, with effect from 8th July, 2017.
GST to boost MSMEs’ competitiveness, says study
New Delhi, July 8 (IBNS):The Goods and Services Tax (GST) would boost the competitiveness of micro, small and medium enterprises (MSMEs), noted a recent joint study by ASSOCHAM- Ashvin Parekh Advisory Services (APAS).
Isuzu Motors reduces prices of its SUV models in range of 6 to 12%
Chennai, July 6 (IBNS): Isuzu Motors India Pvt. Ltd., has announced the revised prices of its vehicle models with the GST rates applicable from July 1, 2017.
Ministry of Food Processing Industry: GST facilitation cell to guide industry about tax regime
New Delhi, Jul 6 (IBNS): The Ministry of Food Processing Industries announced on Thursday that it has established a four member GST Facilitation Cell at its office to guide the industry about the new tax regime.
Bank of Maharashtra implements GST module for customers,non-customers
Pune, July 5 (IBNS): Bank of Maharashtra on Wednesday announced that it has successfully implemented the GST module for both, non-customers and customers alike.
Tata Motors revises pricing for PV post GST
New Delhi, July 5 (IBNS) Car manufacturer Tata Motors on Wednesday announced the revision of pricing for PV post GST launch by the Centre last week.
GST to bring cheer for domestic electronic components’ manufacturers: Study
New Delhi, July 5 (IBNS): Implementation of goods and services tax (GST) will bring innumerable benefits for domestic manufacturers of electronic components as cost of manufacturing will be significantly brought down, noted a recent ASSOCHAM-NEC joint study.
Finance Ministry issues clarification on GST rate for specified items for the differently-abled
New Delhi, Jul 4 (IBNS): The Union Ministry of Finance on Tuesday, issued a clarification about questions being raised about GST rates fixed for specific devices for physically challenged persons.
GST reduces multiplicity of taxes which is a boon for startups says legal adviser Roma Priya
New Delhi, Jul 4 (IBNS): By reducing multiplicity of taxes, GST is likely to benefit startups as they work with limited capital and therefore cannot often afford to have dedicated resources to look after various tax compliance, believes startup legal adviser, Roma Priya.
Record inflation augurs perfectly well for GST launch: ASSOCHAM
New Delhi, July 3 (IBNS): With retail prices growing by the slowest pace in the last four years by mere 2.18 per cent, it is the perfect time for the launch of the Goods and Services Tax (GST), from inflation point of view, as this particular macro fundamental is placed at an ideal position for the roll out of the country’s most ambitious tax reform, the ASSOCHAM has said.
GST rollout: Assam to close all check gates within 45 days
Guwahati, July 2 (IBNS) : After Goods and Services Tax (GST) rollout, Assam government has decided to close all check gates in the state within next 45 days.
We are ready for Goods and Services Tax: SBI chairman
New Delhi, July 1 (IBNS): Within a day after the launch of one taxation system, State Bank of India chairman Arundhati Bhattacharya said the bank is ready for the Goods and Services Tax (GST) on Saturday.
Tata Motors passenger vehicles sales impacted by consumer sentiments pre-GST
New Delhi, July 1 (IBNS): Mixed consumer sentiments in June 2017 towards the implications of GST have impacted the passenger vehicles business sales, while the commercial vehicles business grew on month-on month basis, due to BS4 production ramp-up, Tata Motors said on Saturday.