Goods And-service-tax

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Goods And-service-tax - Total results - 73
Auto sector crisis: Industry's failure to detect looming slowdown exacerbated situation; other businesses must take cue and be vigilant
Business

Auto sector crisis: Industry's failure to detect looming slowdown exacerbated situation; other businesses must take cue and be vigilant

In the first five months of the financial year, the sales of passenger vehicles fell 24 percent over the year-ago period to 1.1 million units.

No deadline for vehicle manufacturers to switch to electric mobility: Nitin Gadkari
auto

No deadline for vehicle manufacturers to switch to electric mobility: Nitin Gadkari

Earlier this year, the government had announced a Rs 10,000 crore budget for EV adoption.

IIP contracts after 21-months gap: What does disappointing factory output means for economy
Business

IIP contracts after 21-months gap: What does disappointing factory output means for economy

The IIP growth numbers for March 2019 and FY19 are more than disappointing. This information comes at a time when there are not too many encouraging signals at the ground level

From GST on under-construction flats to income tax rebate, key changes kick in today; all you need to know
Business

From GST on under-construction flats to income tax rebate, key changes kick in today; all you need to know

The income tax department will give a "straight rebate" of Rs 12,500 to people having an annual income of Rs 5 lakh from the beginning of the financial year 2019-20

GST Network develops system to fetch e-way bill data into monthly sales returns to curb tax evasion
Business

GST Network develops system to fetch e-way bill data into monthly sales returns to curb tax evasion

Matching of invoices of e-way bills with the sales shown in GSTR-1 will help taxmen in assessing whether the supplies have been accurately shown in sales return

GST Council fixing agenda items without consulting states, says Andhra Pradesh FM; demands early release of unsettled IGST
Business

GST Council fixing agenda items without consulting states, says Andhra Pradesh FM; demands early release of unsettled IGST

The minister, who attended the 32nd GST Council meeting in New Delhi, also demanded early release of the unsettled Integrated Goods and Service Tax (IGST) amount of Rs 7,000 crore to the state governments.

GST Council meet: MSME exemption limit doubled to Rs 40 lakh; annual turnover for composition scheme now Rs 1.5 cr
Business

GST Council meet: MSME exemption limit doubled to Rs 40 lakh; annual turnover for composition scheme now Rs 1.5 cr

Finance minister Arun Jaitley said the council has also decides to increase GST registration threshold limit to Rs 40 lakh from Rs 20 lakh

GST ministerial panels decide to hike exemption threshold for MSMEs; favour Kerala levying 1% cess for 2 years
Business

GST ministerial panels decide to hike exemption threshold for MSMEs; favour Kerala levying 1% cess for 2 years

Currently, businesses with an annual turnover of up to Rs 20 lakh are exempt from the Goods and Services Tax (GST).

Finance Minister Arun Jaitley says demonetisation was a 'highly ethical' move, not a political one
India

Finance Minister Arun Jaitley says demonetisation was a 'highly ethical' move, not a political one

Jaitley was speaking after releasing the BJP's manifesto here ahead of the November 28 Madhya Pradesh Assembly election

Warehousing stock eight major cities to reach 297 mn sq ft by 2021 on strong demand after GST implementation: Report
Business

Warehousing stock eight major cities to reach 297 mn sq ft by 2021 on strong demand after GST implementation: Report

The total warehousing space in top eight cities including Mumbai, NCR, Ahmedabad, Bengaluru, Pune, Chennai, Hyderabad and Kolkata is expected to reach 204 million sq ft by 2019

TDS regime under GST takes off from 1st October 2018: Government procurements alone targeted for the time being
Business

TDS regime under GST takes off from 1st October 2018: Government procurements alone targeted for the time being

The TDS rate is 2 percent on the value of goods or services supplied ignoring GST. And there is an exemption from TDS requirement for the value of contract not exceeding Rs 2,50,000

Yes Bank slapped with Rs 38 crore in GST fines for alleged violations in domestic remittances
Business

Yes Bank slapped with Rs 38 crore in GST fines for alleged violations in domestic remittances

A bank official, however, said the money has been paid "in protest" and the lender believes that it has not violated any norms.

Q1 GDP print at 8.2%: Economic expansion to stay steady, but capital formation crux for future growth
Business

Q1 GDP print at 8.2%: Economic expansion to stay steady, but capital formation crux for future growth

The government sector continues to drive the economy which is encouraging as the private sector activity is still to pick up adequately

Demonetisation: Arun Jaitley says note ban boosted formalisation of economy, added more money to system
Business

Demonetisation: Arun Jaitley says note ban boosted formalisation of economy, added more money to system

Arun Jaitley clarified that the 'larger purpose of demonetisation was to move India from a tax non-compliant society to a compliant one'

IMF says India can simplify GST structure without hurting the poor; changes won't compromise principle of progressivity
Business

IMF says India can simplify GST structure without hurting the poor; changes won't compromise principle of progressivity

A simpler GST structure will reduce compliance and administrative costs, which tend to burden smaller firms.

GST revenues will go up in coming months on improved compliance and market demand: Piyush Goyal
Business

GST revenues will go up in coming months on improved compliance and market demand: Piyush Goyal

Goyal said GST revenue collections are "within our target so far" and the festive season would help increase demand in the market going forward.

Emami posts Q1 net profit of Rs 26.95 cr on growth in revenue and volume; total income stands at Rs 616.34 cr
Business

Emami posts Q1 net profit of Rs 26.95 cr on growth in revenue and volume; total income stands at Rs 616.34 cr

Emami said its domestic business grew by 21 percent with major brands like Navratna, Pain Management Range, Male Grooming range posting strong volume-led growth

ITC's Q1 proft up 10% at Rs 2,818.68 crore; revenue from cigarettes vertical down 41.5% at Rs 5,127.59 crore
Business

ITC's Q1 proft up 10% at Rs 2,818.68 crore; revenue from cigarettes vertical down 41.5% at Rs 5,127.59 crore

ITC said its agri-business had a revenue of Rs 3,151.27 crore as compared to Rs 2,760.52 crore in the corresponding quarter last fiscal.

States, union territories to reach out to traders, industry bodies to list out GST grievances
Business

States, union territories to reach out to traders, industry bodies to list out GST grievances

GST Council secretariat has been tasked to compile the suggestions and responses and send to the CBIC, which is the apex body for Indirect taxes in the country, by Friday