GST News & Updates

GST Council OKs law for compensation to states

Business Standard| 19 Feb, 2017

The Goods and Services Tax (GST) Council, at its 10th meeting on Saturday, ratified the draft law for compensation to states. However, it could not ratify the three enabling laws — Integrated GST (IGST), State GST (SGST) and Central GST (CGST) draft laws because of some contentious issues that cropped up.

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4-tier GST rate may lead to classification disputes: Study

The Economic Times| 13 Feb, 2017

The four-tier GST rate structure will open up floodgates of classification disputes with tendency among businesses to demand lower rate for their goods or services, says a research paper.

“Present discussion on two standard GST rates (12 per cent and 18 per cent), a lower rate (5 per cent) and a higher rate (28 per cent) in addition to exemptions will make the design of GST complicated and increase the cost of compliance as well as cost of tax administration,” said NIPFP associate professor Sacchidananda Mukherjee.

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Flipkart, Amazon, Snapdeal flag concerns over tax laws in GST

Business Standard| 10 Feb, 2017

On field, they might be arch rivals, but on Thursday e-commerce biggies Amazon, Flipkart and Snapdeal, came together on one single platform, voicing their concerns over Rs 400 crore of capital belonging to their sellers being locked every year under the GST regime.

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GST laws, rules to be finalised by March-end, says Revenue Secy

Times Now | 3 Feb, 2017

Revenue Secretary Hasmukh Adhia, on Friday said that the Goods and Services Tax (GST) laws and rules will be finalised by the end of March but the GST rates may be decided by month of May or June.

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Key Features of Budget 2017-2018

Source: Indiabudget.nic.in| 1 Feb, 2017

This was the fourth budget of the National Democratic Alliance (NDA) government. Coming at a time when the world around is full of uncertainties, more was expected from the budget than what has been delivered. Here are the key highlights of the budget 2017-18.

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Customs and excise officials upset with GST administration deal with states

The Economic Times| 23 Jan, 2017

Upset at the centre ceding most of taxpayers under the goods and services (GST) to states, the association of Indian Revenue Service Officers from customs and central excise on Monday passed a resolution at its general body that in its present form the proposed tax would not be good for the country.

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GST: Centre, States reach consensus over dual control, roll out likely from July 1

The Economic Times| 17 Jan, 2017

India will likely be able to roll out the goods and services tax (GST) from July 1 following a breakthrough on Monday over the seemingly intractable issue of tax administration after the Centre accommodated states’ concerns.India will likely be able to roll out the goods and services tax (GST) from July 1 following a breakthrough on Monday over the seemingly intractable issue of tax administration after the Centre accommodated states’ concerns.

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GST council to meet today

Hindustan Times| 16 Jan, 2017

The all-powerful goods and services tax (GST) council headed by finance minister Arun Jaitley will hold its ninth meeting on Monday to iron out differences as the government looks set to miss its target rollout date of April 1.
Sources say existing issues – such as dual control of whether the Centre or states would have authority on GST assesses – haven’t been resolved, a new disagreement over taxing high sea-trade cropped up at the last meeting on January 4. This was worrisome especially as time was running out, they added.

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Tally Solutions and CAIT conduct GST Awareness program in Pune

Technuter| 11 Jan, 2017

Tally Solutions last month rolled out its nationwide ‘Campaign on GST’ in a mission to train and educate the ( non corporate sector) trading community for easy GST compliance and transition. An extension to the educative session, was witnessed in Pune, held on 9th January, 2017 at Hotel President. The meet witnessed a footfall of more than 140 traders from across the community, orienting them in the areas of focus in the realm of GST and its seamless adoption.

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April 1 still the target for GST: FM

The Hindu| 11 Jan, 2017

Union Finance minister Arun Jaitley said the government was committed to implementing the Goods and Service Tax (GST) from April 1 this year and stressed that all contentious issues over which the Centre and the states are on disagreement will be resolved in the next few weeks.

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PAN a must for excise, service taxpayers for GST registration

The Economic Times | 8 Jan, 2017

The tax department has made it mandatory for central excise duty and service taxpayers to obtain a valid PAN number before they can be migrated to the new goods and services tax (GST) set-up.

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GST Council meet concludes, roll out deadline of April 1, 2017 seems improbable

The Financial Express | 3 Jan, 2017

The Goods and Service Tax (GST) Council Meeting ended on Tuesday evening following which Finance Minister Arun Jaitley told the media that it was not possible to meet April 1, 2017, roll out deadline.

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GST delayed, rollout now likely on 1 June

Livemint | 2 Jan, 2017

The rollout of the Goods and services Tax (GST) is likely to be delayed by two or three months, according to two people familiar with the situation. The government is yet to lock down a date, but is likely to settle for either 1 June or 1 July, the people said on condition of anonymity.

Expectations are that the GST legislation will be introduced in the first half of the budget session and the government will seek to get it passed after the recess.

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GST Council: Draft law cleared, but dual-control still not done

The Financial Express | 23 Dec, 2016

With the sharing of administrative powers a tough nut to crack, the Goods and Services Tax (GST) Council comprising the Centre and states on Thursday sidestepped it and devoted productive time to make the principal Bill of 195 sections, defining the comprehensive indirect tax, foolproof and ready for tabling in Parliament and state assemblies.

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GST can be rolled out anytime between April 1-September 16: FM Arun Jaitley

The Economic Times | 17 Dec, 2016

Amid signs of slippage of the April 1 GST rollout target, Finance Minister Arun Jaitley today said pending resolution of “turf” issues, GST is a transactional levy that unlike income tax can be implemented anytime during the year.

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Tally announces launch of GST mobile application

14 Dec, 2016

Software product company Tally Solutions Private Limited today announced launch of its GST mobile application to ensure easy adoption of the technology led law.

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GST deadline goes for a toss but FM still hopeful

Business Standard | 12 Dec, 2016

The proposed Bills to enact a national goods and services tax (GST) are set to miss the entire winter session of Parliament, due to conclude on Friday. The Centre and states are yet to finalise the legislation, rendering the April 1, 2017, roll-out target seemingly impossible. However, Union Finance Minister Arun Jaitley, who chaired the GST Council meeting on Sunday, did not rule out introducing the new indirect tax system from the targeted date.

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Tally Solutions is now a qualified GSP

09 Dec, 2016

Tally Solutions Private Limited, the premier Indian software product company, today qualified as one of the few GST Suvidha Provider (GSP), post a rigorous qualification process and Demo to the Goods and Services Tax Network (GSTN).

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No consensus at GST Council, next meet on December 11-12

The Economic Times | 03 Dec, 2016

Industry body Assocham has tied up with software product firm Tally Solutions to educate and prepare the retail community for the rollout of Goods and Services Tax (GST). As part of the collaboration, Assocham and Tally Solutions plan to conduct a series of conferences for the retail community across the nation, over the next few months.

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Assocham, Tally Solutions tie up to prepare traders for GST

MoneyControl | 26 Nov, 2016

Industry body Assocham has tied up with software product firm Tally Solutions to educate and prepare the retail community for the rollout of Goods and Services Tax (GST). As part of the collaboration, Assocham and Tally Solutions plan to conduct a series of conferences for the retail community across the nation, over the next few months.

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GST: Govt releases draft bills for three supporting legislations

Livemint | 26 Nov, 2016

The Union government on Saturday released the drafts of the three supporting legislations for the goods and services tax (GST). The three draft laws—the central GST law, the integrated GST law and the compensation law—will be discussed in the next meeting of the GST Council on 2-3 December.

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Tally Solutions shortlisted as service providers for GST Network

The Economic Times | 25 Nov, 2016

Goods and Services Network (GSTN) has shortlisted 48 firms including Tally Solutions in the first round, seeking to become service providers termed as GST Suvidha Providers. According to a government official, the shortlisted firms had met the financial criteria set by the agency and they will be called for “demos” of their applications in order to technologically evaluate them.

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About 80 items likely on GST exemption list

Business Standard | 23 Nov, 2016

About 80 items are likely to make it to the exemption list under the proposed goods and services tax (GST), including grains, green coconut, poha, unprocessed green tea leaves, and non-mineral water. Items such as coffee and processed foods like biscuits, rusk, butter and cheese currently exempted from excise duty, may draw GST.

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GST: Centre, states fail to resolve dual control issue

The Economic Times | 21 Nov, 2016

The Centre and states on Sunday failed to resolve the contentious dual control issue as to which set of taxpayer is assessed by whom, making the November 25 meeting crucial if the government is to meet the April 1 deadline for the roll out of the goods and services tax (GST).

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Gold likely to attract 3 per cent GST

Deccan Chronicle | 18 Nov, 2016

The Centre is considering a lower three per cent GST rate on gold even as industry sticks to its demand to keep it at a lower rate of 1.25 per cent. The proposal would be taken up in the GST Council which is scheduled to meet on November 24-25.

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Centre circulates draft GST law with states

The Economic Times | 16 Nov, 2016

The GST Council in its meeting next week will discuss the draft GST law and compensation law with the Centre circulating these legislations with the states to seek their comments.

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GST: States adamant on sole control over small businesses

Business Standard | 14 Nov, 2016

With states and Centre set to meet this week to chalk out jurisdiction over assessees under goods and services tax (GST), a majority of states, including Kerala, West Bengal and Delhi, are sticking to their stand of sole control over entities with turnover below Rs 1.5 crore.

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Govt to push 3 GST-related bills in Winter Session

Deccan Herald | 13 Nov, 2016

The government is all set to push through three enabling legislations on GST in the winter session of Parliament to meet the 2017 April deadline for rolling out a uniform tax structure in the country.

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Efforts on to build larger consensus on GST issues

New Indian Express | 11 Nov, 2016

Ensuring GST rollout from April 1, 2017, Finance Minister Arun Jaitley said that the government is working to build consensus on tight issues like jurisdiction of assessees.

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KSTPA and Tally come together to simplify GST for STPs in Karnataka

DataQuest | 8 Nov, 2016

Karnataka Sales Tax Practitioners Association (KSTPA) announced the signing of a Memorandum of Understanding (MoU) with Tally Solutions to educate STPs across Karnataka on GST compliance.

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GST portal goes live

The Economic Times | 8 Nov, 2016

India has initiated an enrolment drive for taxpayers under the goods and services tax (GST), in keeping with the April 1, 2017 rollout deadline for the new indirect tax system. A new portal for GST went live on Tuesday to enable easy countrywide enrolment of taxpayers. A state-wise schedule has also been put out for enrolment of existing payers of excise duty, service tax and state taxes.

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Final GST rates out, slabs fixed at 5%, 12%, 18% & 28%

The Times of India | 3 Nov, 2016

A four-tier GST tax structure of 5%, 12%, 18% and 28%, with lower rates for essential items and the highest for luxury and de-merits goods that would also attract an additional cess, was decided by the all- powerful GST Council on Thursday.

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GST Council: Centre, states toughen stands ahead of meet

The Financial Express | 3 Nov, 2016

As the GST Council meets here on November 3-4, both the Centre and states seem to have hardened their positions with respect to the issues they disagree on. And they are reaching out to independent experts and the media to buttress their arguments.

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Cess plan could mean 10 different GST rates

The Hindu | 2 Nov, 2016

To ensure that the tax incidence on products like cigarettes, tobacco products and luxury commodities doesn’t decline under the GST regime, the Finance Ministry has proposed differential cess rates to be levied over and above the highest tax rate of 26 per cent for such products. Industry consultants are surprised that it will not be uniform, and fear this will make GST highly complicated

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The rationale for multiple rates in GST

The Hindu Business Line | 26 Oct, 2016

It has been proposed to the Council that there should be a four slab multi-rate tax structure. Items constituting nearly 50 per cent of the weightage in the Consumer Price Index basket (mainly food items), are proposed to be exempted from the levy of the GST. There will be a zero tax on such items.

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India is moving towards a flawed GST

Livemint | 24 Oct, 2016

There were two underlying assumptions for a truly successful GST. The new indirect tax would be levied at a single rate (with a few exceptions) so as to reduce distortions based on rent-seeking behaviour.

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What is cheaper and what is dearer after GST

The Economic Times | 21 Oct, 2016

Salt, bread, fresh fruit and vegetables, eggs, milk, curd, blood (yes blood, the human kind), prasad (the sacred kind), the national flag, kumkum, bindi-sindoor, glass bangles, even contraceptives — all these will continue to enjoy a taxfree run under the proposed goods and services tax (GST) regime.

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Four-tier GST structure proposed: low of 6 per cent to high of 26 per cent

The Indian Express | 19 Oct, 2016

A four-tier structure for Goods and Services Tax (GST) comprising a lower rate of 6 per cent, two standard rates of 12 per cent and 18 per cent, and a higher rate of 26 per cent with an additional cess for luxury and demerit goods were proposed in the third meeting of the GST Council Tuesday.

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Assam gets off the block with GST registration

Moneycontrol |   18 Oct, 2016

The state tax department has started collecting mobile numbers and e-mail IDs of registered dealers or taxpayers under VAT, CST, entry tax, luxury tax and entertainment tax to provide Goods and Services Taxpayers Identification Number (GSTIN) on a provisional basis.

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Centre proposes 26% peak rate for GST

Business Standard |   18 Oct, 2016

The Centre is likely to propose a four-tier tax structure under the goods and services tax (GST), with a peak slab of 26 per cent. Almost 20-25 per cent of all taxable goods, including those consumed by the middle class, could come under the peak rate.

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CAIT signs MoU with Tally Solutions for training non-corporate sector on GST

The Financial Express |   14 Oct, 2016

Confederation of All India Traders (CAIT) and Bangalore based accounting software firm, Tally Solutions have signed a memorandum of understanding (MoU) to train and educate the non-corporate sector on GST compliance and its seamless adoption.

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GST hopes boosted as govt calls early winter session of Parliament

Livemint |   14 Oct, 2016

Hopes for the roll-out of the goods and services tax (GST) from 1 April brightened on Thursday after the National Democratic Alliance, or NDA, advanced the month-long winter session of Parliament to 16 November.

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GSTN invites private companies to build third-party interfaces

The Economic Times | 07 Oct, 2016

In a bid to give tax payers more choice to file their returns once the much-awaited tax reform is rolled out, the Goods and Services Tax Network (GSTN) is inviting private companies to build third-party interfaces.

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GST regime: Tax payers allowed to take option of third-party interfaces

Firstpost |   05 Oct, 2016

Moving a step forward towards the actual implementation of the Goods and Services Tax (GST) regime, GST Network, the company which is entrusted to create the logistical and IT backbone for the new tax regime, on Tuesday allowed taxpayers the option of third-party interfaces.

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The focus is back on GST rates

Livemint |   04 Oct, 2016

After giving up the demand for incorporating a cap on the GST rate in the Constitution, some of the parties went to the extent of demanding an assurance from the government in Rajya Sabha that the central GST legislation will not be introduced as a Money Bill (and consequently deprive them of the leverage on its contents).

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Centre, states spar over control of big service tax assessees under GST

Livemint |   03 Oct, 2016

Around 33,000 big service tax assessees are emerging as the new bone of contention between the centre and a few states under the goods and services tax (GST). There are an estimated 1.1 million service tax assessees, which are entities that collect service tax and are registered with the Central Board of Excise and Customs.

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Area-based exemptions to industry will continue as refunds under GST

The Hindu Business Line |   30 Sep, 2016

In a major incentive to India Inc, the Centre has decided to continue with area-based excise duty exemptions provided to the North-East and hill States when the goods and services tax (GST) regime kicks in from April 1, 2017. However, these will be provided as refunds, not as exemptions.

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Monthly returns to be mandatory under GST

The Economic Times |   28 Sep, 2016

Moving at a fast pace, the tax department has came up with two more draft rules and their formats on GST returns and refunds requiring assesses to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

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8-layered wall secures data: GST tech backbone chief

The Times of India |   27 Sep, 2016
The structure of the board of the Goods and Services Tax Network (GSTN) has enough safeguards to ensure the government has strategic control of the entity, its chairman has said, while asserting that security of sensitive data will have the highest level of protection.

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Tax department unveils draft rules for registration under GST

The Economic Times |   27 Sep, 2016

The government has put out the draft rules for the Goods & Services Tax for discussion ahead of the September 30 meeting of the Centre and states to discuss the regulations. In view of the tight deadline, the finance ministry has asked for feedback by September 28. Rules relate to registration, invoice and payments, laying down procedures, guidelines and documentation.

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Fools rush in

Indian Express |   26 Sep, 2016

Deadlines help. Hard ones help even more. After all, years of false starts have turned the goods and services tax (GST) into the boy who cried wolf. Let alone some corporates and auditors, even part of the general government machinery does not seem fully convinced that April 1, 2017 is a realistic start date.

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GST exemption limit fixed by Council, decision on rates later

Business Standard |   23 Sep, 2016

In its first set of decisions, the Goods and Services Tax (GST) Council on Friday fixed the turnover-based exemption limit from such levies at Rs 20 lakh, but left the decision on fixing the actual tax rates and the finalisation of draft rules for later.

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Differences on GST remain, states to resolve issues by November 22

News18.com |   23 Sep, 2016

The first meeting of the Goods and Services Tax Council on Thursday gave an indication that a host of issues remained to be resolved, even as its Chairman and Union Finance Minister Arun Jaitley hoped all pending issues will be thrashed out in due course for a uniform pan-India indirect tax regime to take effect from the targeted date of April 1 next year.

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GST can deprive small businesses of liquidity

DNA | 22 Sep, 2016

Certain provisions in the existing draft of Goods and Service Tax (GST) can deprive small traders of liquidity in day-to-day management of business, potentially affecting the profitability and viability of the business, said a senior official of Tally Solutions, which develops business and accounting software and has small enterprises as bulk of its clients. It is bringing business associations together to jointly represent the case to the central government.

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GST may have multiple rates initially, no RNR too

The Economic Times |   21 Sep, 2016

The goods and services tax (GST) may have multiple rates on the lines of some European countries and a revenue neutral rate will not be possible initially Revenue Secretary Hasmukh Adhia said

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Consensus unlikely on tax rates at GST council meet

Livemint |   21 Sep, 2016

The first meeting of the goods and services tax (GST) council scheduled for later this week is unlikely to reach a consensus on tax rates under the indirect tax regime or on the issue of sharing administrative powers between the centre and the states, government officials aware of the matter said.

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GSTN under examination; Centre to hold majority stake

The Economic Times |   19 Sep, 2016

The composition of Goods and Services Tax Network (GSTN), a private company tasked to create Information Technology infrastructure for GST, is under examination to give to the Centre majority stake in it. The government of India presently has 24.5 per cent stake in GSTN while state governments together hold another 24.5 per cent.

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Price-monitoring structure under GST in the pipeline

The Economic Times |   19 Sep, 2016

The government is considering a price-monitoring mechanism under the proposed goods and services tax (GST) to ensure that the multiple benefits of the landmark reform are passed on and head off any unwarranted price shocks. States are also keen to ensure that the effects of GST provide a demand push to the economy.

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After GST law, can government still levy excise on goods?

The Economic Times |   19 Sep, 2016

Has the government lost the power to impose central excise duty on all goods barring petroleum products and tobacco? And has it been levying the tax illegally for the last three days? Massive confusion has arisen after the Centre notified certain provisions in the constitution amendment law for goods and services tax (GST) with effect from September 16.

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Government plans Rs 4,000-crore overhaul of 80 check posts for GST

The Economic Times |   18 Sep, 2016

Road Transport and Highways Ministry is considering a Rs 4,000 crore overhaul of around 80 border check posts across the country to ensure seamless flow of goods ahead of the implementation of GST.

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Govt notifies GST Council

Business Standard |   16 Sep, 2016

The Centre has formally notified the Goods and Services Tax (GST) Council, which will decide on the tax rate, exempted goods and the threshold under the new taxation regime. The council will be chaired by the Union Finance Minister and have Minister in charge of Finance or Taxation or any other Minister nominated by each State Government as its member.

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Taxpayers to get a feel of GST next month

The Hindu Business Line |   16 Sep, 2016

Beginning next month, the Goods and Services Tax Network (GSTN) will start migrating over 80 lakh taxpayers onto its system. This will facilitate the smooth implementation of the GST regime. “The first part of our software will be ready by end October. Existing taxpayers of value added tax, service tax and central excise will be migrated to GSTN,” said Navin Kumar, Chairman, GSTN.

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GST rollout must be ready ‘before’ April 1, PM emphasizes to top officials

The Times of India |   15 Sep, 2016

Prime Minister Narendra Modi yesterday directed top central and state finance officials to complete all the steps needed to roll out the new Goods and Services Tax (GST), long before April 1, 2017.
The PM’s directive came a day after the Cabinet approved the formation of the GST Council. Last week President Pranab Mukherjee gave his consent to the GST bill. And separately, 16 states- the minimum number required – have already ratified it.

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Petroleum products to enter under GST regime to fuel big gains

The Economic Times |   14 Sep, 2016

Petroleum products, including crude and some intermediate products, could be taxed under the proposed goods and services tax (GST), a move that will reduce the imperfections in the new levy and also narrow the inflationary impact of the tax.

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GST Council to start journey this month

Business Standard |   13 Sep, 2016

Signalling the urgency to roll out the goods and services tax (GST) by the April 1, 2017 deadline, the Union Cabinet on Monday gave its nod to the constitution of the GST Council. The council would be responsible for deciding on rates and preparing a model Bill for implementation of the new tax regime.

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Cabinet notifies constitution of GST Council

The Times of India   |   12 Sep, 2016

The Cabinet on Monday cleared the process, formation and functioning of the GST Council, which will decide on the rate of tax under the new indirect taxation regime.
The Council, to be headed by Finance Minister Arun Jaitley and comprising of representative of all 29 states and two union territories, will have to be set up by November 11.

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The fire test on final GST rate begins now

Firstpost    |   12 Sep, 2016

The Cabinet’s approval on Monday to set up the GST (Goods and Services Tax) Council, after the President’s approval for the constitutional amendment last week, marks the beginning of the toughest phase in the road to final implementation. The government has set a deadline of 1 April 2017 for the rollout of the indirect tax reform.
This is the council which will have to do the complex job of arriving at a consensus GST standard rate, for which there is no real consensus between states, central government and Congress-led opposition parties till this point.

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GST Bill Gets Approval Of President Pranab Mukherjee

NDTV    |   08 Sep, 2016

President Pranab Mukherjee today signed the government’s flagship Goods and Services Tax Bill, which will do away with a host of Central and state taxes and usher in one tax regime for the entire country.

With the President’s assent, the focus now shifts to the enabling acts, which have to be passed in the Centre and the states. Eighteen of the country’s 31 states have already ratified the GST – a constitutional amendment bill that needs ratification from 50 per of the states.

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States can’t escape adoption of GST

Business Standard    |   06 Sep, 2016

States opposing the goods and services tax (GST), such as Tamil Nadu, would not be able to avoid the indirect tax regime after the Constitution amendment Bill becomes law. The states would, however, be able to adopt a GST structure than is different from the one recommended by the proposed GST Council. The recommendations of the council would not be binding on the states.
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Rajya Sabha passes GST Bill

The Hindu    |   04 Aug, 2016

After being subject to months of haggling and histrionics, the Goods & Services Tax (GST) finally had its historic day in the Rajya Sabha with the passage of the Bill to amend the Constitution, paving the way for what is popularly referred to as the concept of “one nation, one tax.”

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GST’s IT backbone gets ready for timely launch

The Economic Times    |   03 Aug, 2016

The entity tasked with providing the information technology infrastructure for the goods and services tax expects to be ready for the rollout of GST from April 1, 2017, should the Centre and states pass legislation to bring about the biggest indirect tax reform in the country.

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