Jayant Sinha for bringing ATF under GST
Times of India The final call, however, would be taken by the GST Council, he added. ATF constitutes approximately 35-40 per cent of operational cost of an airline in India. The meeting was also attended by Finance Secretary Hasmukh Adhia and Civil Aviation Secretary ... |
Times of India |
Vehicle owners to pay 18% under GST for pollution check
Times of India "The activity of issuance of Pollution Under Control certificate for vehicles issued by the applicant is not covered under SAC (Services Accounting Code) 9991 and is covered under residual entry and hence, should be taxed @ 18 per cent GST," the AAR said. Vehicle Owners in India to Pay 18 Percent Under GST on Pollution Certificate Vehicle Owners to Pay 18 Per Cent Under GST on Pollution Check |
GST Council met 30 times, took 918 decisions in 2 years: Finance Ministry
The all-powerful GST Council, chaired by Finance Minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime within a span of just over two years, the Finance Ministry said Sunday.
The Goods and Services Tax (GST) Council, which comprises state finance ministers and Union Minister of State in charge of Revenue as members, was set up on September 15, 2016, as the country’s first ‘federal institution’. Click to read more
GST Council Took More Than 900 Decisions Since Its Constitution
Till date, the Goods and Services Tax (GST) Council has taken 918 decisions related to GST laws, rules, rates, compensation and taxation threshold etc. More than 96% of the decisions have already been implemented through 294 Notifications issued by the Central Government and the remaining are under various stages of implementation. Almost equal number of corresponding SGST Notifications have been issued by each State.
The GST Council Members under the Chairpersonship of the Union Finance Minister have spent long hours discussing the broad contours as well as the nitty-gritty of the new GST regime in a harmonious and collaborative spirit. Click to read more
GST council took 918 decisions in 30 meetings in 2 years, 96% already implemented
The all-powerful GST Council, chaired by Finance Minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime within a span of just over two years, the Finance Ministry said Sunday.
The Goods and Services Tax (GST) Council, which comprises state finance ministers and Union Minister of State in charge of Revenue as members, was set up on September 15, 2016, as the country’s first ‘federal institution’.
“Till date, GST Council has taken 918 decisions related to GST laws, rules, rates, compensation, taxation threshold etc. More than 96 per cent of the decisions have already been implemented through 294 notifications issued by the Central Government,” the ministry said in a statement. Click to read more
CBIC to focus on behavioural patterns of taxpayers to improve GST compliance
Soon, GST officers will study the behavioural pattern of certain taxpayers to nudge them to comply with tax laws, in a departure from the current practice of focussing only on deterrent action to check evasion.
The Central Board of Indirect Taxes and Customs (CBIC) has set up a ‘Nudge Team’ to formulate a strategy on studying behavioural patterns of taxpayers and use segmented approach to encourage them to pay taxes, an official said. Click to read more
GST Intel Wing Unearths Rs 80 Crore ‘Fraud’ in Pune, Says Could be ‘Tip of the Iceberg’
The Directorate General of GST Intelligence’s (DGGI’s) Pune zonal unit has unearthed a Rs 80 crore “fraud” which is suspected to have been perpetuated through procurement of “bogus invoices” from markets and arrested one person from Mumbai.
Modsingh Padamsingh Sodha was arrested on Friday and found to be operating over 10 dummy companies that had issued fraudulent invoices worth Rs 415 crores, the DGGI Pune zonal unit said in a release here Sunday. Click to read more
India likely to have 3 GST rates in future: PMEAC Chairman
Government of India is likely to reduce the current four-slab GST rate structure to three as the process of rationalizing India’s new indirect tax regime proceeds further, said Prime Minister’s Economic Advisory Council (PMEAC) Chairman Bibek Debroy.
Addressing the gathering at the launch of “GST: Explained for Common Man” written by former Central Board of and Excise and Customs Chairman Sumit Dutt Majumder, the PMEAC Chairman noted that only very few countries that have implemented GST follow the principle of “dual GST” (Goods and Services Tax) whose “terminal role from an economists point of view is to have a single tax structure.” Click to read more
GST Rate 5% or 18%? Solar Sector Continues to Live with Uncertainty
Passed on 1st July 2017, India’s Goods and Services Tax (GST) is an indirect tax imposed on goods and services, and replaces existing state and central taxes of a similar nature. The goal of the GST is to simplify the indirect tax for the country as a whole.
“It has now been well over a year since the GST came into effect and there is still no clarity which has been a drag on solar installations in the country. States are also issuing their own interpretations, adding to the confusion. Solar companies are still struggling to figure out the GST rates applicable on various goods and services that go into the development of a solar project,” said Raj Prabhu, CEO of Mercom Capital Group. Click to read more
GST relief for oil companies on outsourced work
In what could come as urgent relief for oil companies, revenue authorities have allowed refineriesNSE 0.00 % to pay GST only on value addition done by job workers against on the total valuation.
Many oil refineries outsource some of the processes to job workers. These refineries provide the raw material to the job worker and a final product is then delivered. There were concerns that the tax authorities would impose GST on the total valuation of the final product against value addition by the job worker. Click to read more
The post GST council took 918 decisions in 30 meetings in 2 years, 96% already implemented appeared first on GST Ready India.
Knn India |
India likely to have 3 GST rates in future: PMEAC Chairman
Knn India New Delhi, Oct 29 (KNN) Government of India is likely to reduce the current four-slab GST rate structure to three as the process of rationalizing India's new indirect tax regime proceeds further, said Prime Minister's Economic Advisory Council (PMEAC) ... |
MENAFN.COM |
India likely to have 3 GST rates in future: PMEAC Chairman
MENAFN.COM (MENAFN - KNN India) India likely to have 3 GST rates in future: PMEAC Chairman. New Delhi, Oct 29 (KNN) Government of India is likely to reduce the current four-slab GST rate structure to three as the process of rationalizing India's new indirect tax ... |
GST 'work in progress', hope rates will be rationalised further: Pranab
Times of India The GST, which replaced 17 central and state levies including factory-gate, excise duty, service tax and local sales tax or VAT, is India's biggest tax reform in 70 years of independence and will help modernise Asia's third largest economy. The 115th ... |
News18 |
Vehicle Owners in India to Pay 18 Percent Under GST on Pollution Certificate
News18 Vehicle owners will have to pay a GST of 18 percent to get a pollution certificate for their vehicles, the Authority for Advance Ruling (AAR) has said. The Goa bench of the AAR passed the ruling on an application filed by Venkatesh Automobiles on ... Vehicle Owners to Pay 18 Per Cent Under GST on Pollution Check |
