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ASSOCHAM demands postponement of GST rollout

The industry chamber ASSOCHAM on Saturday wrote a letter to Finance Minister Arun Jaitley and demanded that the government should postpone the implementation of Goods and Services Tax (GST) as the IT network is not ready. The GST is scheduled to be rolled out from July 1. ASSOCHAM’s demand has come at a time when Jaitley will be chairing 17th ... Read More »

Kannada film industry protests against 28% GST rate , threatens to stall production

The Kannada industry has joined the film industry’s protest against the proposed GST of 28%. It has decided to stall film making process and has sought a lower tax stab for the entertainment industry. The Kannada film industry has demanded that they be put in the lowest tax bracket of 5 percent. According to GST council movie tickets in cinema ... Read More »

GST Council forms 18 groups to sort out industry worries

The GST council has set up 18 sectoral groups to interact with various sectors like telecom, banking and export to sort out their issues. These sectoral working groups consists of senior officers from centre and state and they will interact and examine representations received from trade and industry. Also the group will highlight specific issues for the smooth transition of ... Read More »

Taxpayer interface not ready for GST

While the government remains committed to rolling out the GST regime from July 1, GST Suvidha Providers (GSPs), who are expected to help taxpayers cope with the transition to the new regime and its compliance paperwork, may only be operationally ready a few months down the line, say industry players. “Being very upfront, we are not too confident about the ... Read More »

Are the Banks prepared for the GST roll out?

All the states have agreed for the roll out of the new indirect tax regime from July 1. With less than a month left for the roll-out of GST, the Indian Banks’ Association (IBA) has informed a Parliamentary panel that lenders are not yet geared up for implementation of the new indirect tax regime. The IBA said that several services ... Read More »

Online sellers slash rates to clear stocks before new tax regime kicks in

Online sellers are offering discounts on their products to clear stocks before new tax regime kicks in otherwise huge loss for them  Watches ,sports equipments attract 28 percent GST .The MRP of these goods is based on pre-GST tax rates Only a brand or manufacturer can change the MRP but traders can do nothing with old stocks with higher GST ... Read More »

Mamata Banerjee shows disagreement in GST provision

Today GST Council cleared the undecided procedures. Kerala Finance Minister Thomas Isaac said that the discussion on rules was held and now the rules have been finished and the transition rules have been also now cleared. Now the GST will be rolled out on 1st July and everyone is agreed on the same. The GST will be as 5, 12, ... Read More »

GST unfair for regional cinema slams ulaganayagan Kamalhassan

Stating that the uniform 28% entertainment tax under the GST for cinema in Tamil Nadu was a ‘big punishment,’ actor Kamal Haasan on Friday argued that it was unfair to equate regional cinema and Bollywood and Hollywood movies on the same platform and charge a uniform tax. “The government shouldn’t forget that regional cinema has brought several laurels across international ... Read More »

‘GST solution’ for traders, MSMEs

HP India in collaboration with KPMG on Monday announced the launch of a comprehensive, secure and affordable invoicing platform ‘GST solution’ to help transition millions of traders and Micro, Small and Medium Enterprises (MSMEs) to Goods and Services Tax (GST) regime. The newly launched GST solution has the capability to support users to file all their transactions as per the ... Read More »

Twitter account for GST related queries

On 1st July the GST levy will be implemented in the country. GST being the new levy the revenue department has rolled out a new Twitter account to response on the queries belongs to GST. Today the revenue department has started the GST queries related twitter handle. The twitter handle is @askGST_GoI, industry, and traders may ask their quires related ... Read More »

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