GST: Country-wide intra-state e-way bill system mandatory from 3 June

FIRSTPOST. | 23 May, 2018

The e-way bill for moving goods within a state will become mandatory from 3 June, with the country-wide roll out of the mechanism.

The government had launched the electronic-way or e-way bill system from 1 April for moving goods worth over Rs 50,000 from one state to another.

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You don’t even have 0.77999999999883585 per cent chance to escape GST scrutiny

The Economic Times | 09 May, 2018

The promise of the Goods and Services Tax (GST) to bring clarity has finally started showing. As GST officers unleash the force of data analytics, no discrepancy or mismatch will escape their scrutiny.

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GST Council unveils new, simplified return filing process

The Economic Times | 04 May, 2018

The GST Council on Friday unveiled a new simplified return that would require a taxpayer to file only one return every month and set a period of six months for the transition to take place.

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GST Council Meet On May 4; Simplifying Returns On The Agenda

Bloomberg Quint | 25 April, 2018

Finance Minister Arun Jaitley-chaired Goods and Services Tax Council will meet on May 4 to discuss a simpler return form and the amendments required in the indirect tax regime rules.

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Four States and Puducherry to roll out intra-State e-way bill from April 25

The Hindu | 23 April, 2018

In keeping with its plan to roll out the e-way bill system for the intra-State transport of goods in a phased manner, the GST Council on Monday announced the third phase, from April 25, in which the system will become applicable for Arunachal Pradesh, Madhya Pradesh, Meghalaya, Sikkim, and Puducherry.

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Six more states to generate intra-state e-way bills from Friday

Business Today | 18 April, 2018

The GoM discussed two models for simplification of returns and also devised a third “fusion model” taking the best features of the two models.

Six states — Bihar, Haryana, Jharkhand, Tripura, Madhya Pradesh and Uttarakhand — will implement the e-way bill for intra-state movement of goods from Friday, Bihar Deputy Chief Minister Sushil Modi said on Tuesday.

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E-way bill rules: CBIC lays out procedure for interception, detention of goods

Business Today | 15 April, 2018

Tax authorities have asked field officers to follow standard procedure for interception of conveyances for inspection of goods and their confiscation under the e-way bill rules.

The Central Board of Indirect Taxes and Customs (CBIC) has laid out a detailed procedure with respect to time bound uploading of reports/ forms by revenue authorities, time bound closure of cases where goods have been detained, instructions to release goods where there are no prima-facie irregularities.

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Five more states to use e-Way Bill for Intra-State movement from April 15

The Economic Times | 10 April, 2018

The Government on Tuesday said five additional states would start implementing E-way bills for Intra-state movement of good from April 15. E-Way Bill system for all inter-State movement of goods has been rolled-out from April 1, 2018 with the State of Karnataka being the first to make it operational.

According to a government statement e-Way Bills are getting generated successfully and till April 9, 2018 more than sixty three lakh e-Way Bills have been successfully generated.

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E-way bill rollout very successful; no glitch so far: says Government

The Times of India | 02 April, 2018

The government today said the re-introduction of the e-way bill system under GST has been “very successful” with no technical glitches.
The GST provision, requiring transporters to carry an electronic waybill or e-way bill when moving goods between states, was implemented from yesterday to check rampant tax evasion and boost revenues.

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E-way Bill Rollout from April 1, GSTR-3B Extended Till June: Arun Jaitley

News 18 | 10 March, 2018

The all-powerful GST Council on Saturday decided to rollout the requirement of carrying an electronically generated bill for transporting goods between states from April 1 but failed to arrive at a consensus on simplification of tax returning filing procedure for businesses.

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Government eases norms for e-way bill generation

The Economic Times | 8 March, 2018

The government has made some changes to the e-way bill rules to further simplify the procedure for movement of goods under the Goods and Services Tax regime, giving more relief to smaller businesses, FMCG, courier and e-commerce companies.

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E-way bill must for intra-state goods movement from June 1

The Economic Times | 7 March, 2018

All states shall have to compulsorily implement the national e-way bill system for intra-state movement of goods by June 1, the government said on Tuesday.

“As per the decision of the GST Council, the states may choose any date before June 1 for implementing the national e-way bill system for intra-state movement of goods… but all states shall implement it latest by June 1,” Minister of State for Finance Shiv Pratap Shukla told the Rajya Sabha in a written reply.

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Tally simplifies e-way bill compliance

Business Standard | 28 February, 2018

Premier business software, Tally Solutions on Wednesday launched its latest software Tally. ERP 9 Release 6.4 which caters to effective e-way bill compliance.

With e-way bill being introduced in a month’s time, it will be critical for businesses to adopt a solution which assists in generating and managing e-way bills, and at the same time facilitates recording and maintenance of accurate invoices.

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Government making all efforts to make GST foolproof against evasion: Hasmukh Adhia

The Economic Times | 27 February, 2018

Finance secretary Hasmukh Adhia today said government is making all efforts to make the GST regime “fullproof” with the help of technology to check all possibilities of tax evasion.

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GST Network simplifies returns filing process

Live Mint | 22 February, 2018

In a move to make filing of returns taxpayer friendly and error-free, the Goods and Service Tax Network (GSTN), the firm that processes tax returns in the indirect tax regime, has simplified the monthly return of sales summary that businesses and traders have to file.

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GST rules set to be simplified further

Live Mint | 19 February, 2018

Federal indirect tax body Goods and Services Tax (GST) Council is set to revamp the return filing process and further liberalize rules to make compliance easier for taxpayers and boost government revenues.

A meeting of central and state government officials in the capital on 27 February will give final shape to the proposal before the council takes it up on 1 March for approval, a person familiar with the development said on condition of anonymity. The 26th meeting of the council will be held through a video conference.

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E-way Bill: Why the nation needs a successful rollout at the earliest

The Economic Times | 13 February, 2018

The GST Council in its 22nd meeting held in October last year, had decided that the e-way bill under GST will shall be rolled out nationwide from the April 1, 2018. This was surely good news for businesses across the nation, as they got more time to get acclimatized to the various changes brought in by the GST era.

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GST return simplification panel to meet industry this week

The Economic Times | 11 February, 2018

The government appointed panel on GST returns under GSTN chairman Ajay Bhushan Pandey will meet industry and traders this week to seek their views on simplification of return filing process.

The committee is likely to submit its report to the Group of Ministers, headed by Bihar Deputy Chief Minister Sushil Modi, which will finalise its recommendations by the month end and place it before the GST Council, Pandey said.

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Government changing definition of MSMEs to be in sync with GST

Business Standard | 08 February, 2018

The government is changing the criteria to define micro, small and medium enterprises (MSMEs), to make these in sync with the goods and services tax (GST) regime, by making the norms common for good and services.

The announcement came on a day when the Reserve Bank of India announced some relief to the sector. But the change would be effective when the proposed amendments to the Micro, Small and Medium Enterprises Development Act, 2006, come into effect.

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GST’s e-way bill set for a month-end rollout after tech glitches pushed it off-track on Feb 1

Money Control | 08 February, 2018

National Informatics Centre is working overtime to iron out rough edges as further delay in e-way bill’s implementation could hurt the Centre and states’ revenues

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GST exemption limit enhanced to Rs 7,500 for monthly charges paid to a housing society

The Times of India | 07 February, 2018

Monthly maintenance charges, which one pays to co-operative housing society (CHS) or to be specific to its resident welfare association (RWA), will not attract Goods and Service Tax (GST), provided such charges are Rs. 7,500 or less per month. ‎The GST Council in its meeting held in January has enhanced the threshold applicability limit. Earlier GST was applicable if the monthly bill was more than Rs. 5,000 per month. The new limits apply from January 25.

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Don’t charge GST from affordable housing buyers: Govt to builders

The Economic Times | 08 February, 2018

The government today asked builders not to charge any GST from home buyers as the effective GST rate on almost all affordable housing project is 8 per cent which can be adjusted against the input credit.

It said builders can levy GST on buyers of affordable housing projects only if they reduce the apartment prices after factoring in the credit claimed on inputs.

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GST e-way bill rollout deferred due to technical glitches

Live Mint | 01 February, 2018

The government on Thursday postponed implementation of the e-way bill requirement for movement of consignments in the goods and services tax (GST) regime after technological glitches led to disruption in trade.

The e-way bill, an electronic documentation tracking the movement of goods, was mandatory for all inter-state movement of goods from 1 February.

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Budget 2018: Arun Jaitley announces relief for MSMEs

Live Mint | 01 February, 2018

In an attempt to address the problems faced by micro small and medium enterprises (MSME), the Union Budget on Thursday reduced the income tax to 25% for small companies with annual turnover of up to Rs250 crore.

In last year’s budget, the government had provided tax sops to MSMEs to make them more viable, recognizing their importance in economic activity and generating employment. It had reduced the income tax to 25% for small companies with annual turnover up to Rs50 crore. This is estimated to have benefited more than 667,000 companies, with 96% of all the companies filing tax returns.

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Government to roll out E-way bill from today: 8 steps

The Economic Times | 01 February, 2018

The E-way bill for moving goods across states is being rolled out from today. In the 14-day trial period starting January 16, the day when nationwide e-way bill registrations for taxpayers began, 28.4 lakh e-way bills have been generated with 3.4 lakh happening only on Tuesday. ET explains the regime and what business needs to do.

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CII seeks easier GST compliance procedures in Budget

Money Control | 31 January, 2018

According to the chamber, simplification of Goods and Services Tax (GST) compliances would result in higher number of returns filed, increased collection of revenues, and easier working capital management by trade and industry. The GST Network (GSTN) functioning and return filing formats could be tweaked to ensure acceptance of invoices, it added.

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Need to stabilise GST implementation to facilitate easier compliance: Economic Survey

The Economic Times | 30 January, 2018

India needs to work towards stabilising the goods and services tax, removing uncertainties for sectors such as exports, the Economic Survey said while pitching for a review of tax embedding caused by the exclusion of some products from the ambit of the new levy.

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GST revenue reverses its falling trend; rises to Rs 86,703 crore in December

Business Today | 29 January, 2018

GST collections picked up momentum in December to touch the Rs 86,703 crore mark, reversing the decline over the preceding two months which was worrying the government as it struggles to keep the fiscal deficit in check.

“Total revenue collections under GST for the month of December 2017 which were received in December 2017 and January 2018, has been Rs 86,703 crores till January 24,” the Finance Ministry said in a tweet.

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How to make businesses GST-compliant? Make GST business-compliant

Live Mint | 23 January, 2018

Is there a better, more business friendly way of implementing the original idea of buyers “accepting” the invoice from the seller?
We know that every buyer, big or small, whether or not they run on an automated accounting system, do verify their supplier’s invoices before releasing payments. No one pays a supplier whatever they ask for! Filing taxes should not be orthogonal to business; it should be a seamless part of the regular business flow. So how do we do this?

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A simpler GST filing regime: Here are the proposed changes

The Economic Times | 23 January, 2018

In its last meeting, the GST Council deliberated changes in the filing regime for the new tax. The simplified system is expected to be approved by the Council in its next meeting.


1. Seller to upload invoice level details in GSTR 1 within prescribed due dates

2. Buyer to download invoice details uploaded by seller (in Form GSTR 2A)

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GSTR-3B filing for December, extended deadline to expire today

KNN Knowledge & News Network | 22 January, 2018

The last date for GSTR-3B return filing for December was recently extended by two days to January 22, the Central Board of Excise and Customs (CBEC) informed.

“The last date for filing return in FORM GSTR-3B for the month of December, 2017 has been extended by two days to 22nd January, 2018,” the Central Board of Excise and Customs (CBEC) said in a tweet from its official twitter handle.

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GST Council rejigs rates of 29 items, 53 services

The Economic Times | 19 January, 2018

India announced a significant revamp of the goods and services tax (GST) framework, including cuts in the rates on 20-litre packaged drinking water, biodiesel, diamonds and precious stones, sugar candies, tailoring services, amusement parks and low-cost housing construction services. The total revenue loss on account of these cuts, which take effect on January 25, is pegged at Rs 1,000-1,200 crore

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Budget 2018: Council may cut GST rates for 70 items; 40 on revision list

Business Standard | 17 January, 2018

A fortnight ahead of the Union Budget, the Goods and Services Tax (GST) Council is likely to take up rationalisation of rates of about 70 items, of which at least 40 are services. Amendment in rules may also be taken up to simplify filing and plug some of the loopholes. A fitment committee of officers has made these recommendations to the Council, which will meet on Thursday.

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GST @ 200 days: A timeline

Live Mint | 16 January, 2018

The goods and services tax (GST) saw manufacturers slow down production in the preceding months, pulling down economic growth in the first quarter of this fiscal to a three-year low of 5.7%. Growth picked up in the second quarter as firms restocked their supply chain. Businesses struggled to file returns on time in August, prompting deadline extensions. GST Council raised taxes on cars and tobacco, lowered rates on many mass use items and gave relief to small companies and exporters.

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Movement of goods set to be easy with e-way bill from February 1

The Economic Times | 15 January, 2018

Come February and transporters will not need separate transit passes for moving goods from one state to another as the e-way bill issued to them will be valid throughout India, GST Network said today.

Under the Goods and Services Tax rolled out from July last year, inter-state movement of goods beyond 10 kms, with a value of Rs 50,000 and above, will mandatorily require e-way bill from February 1.

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Officers panel to finalise changes in GST laws and rules today ahead of council meet on Jan 18

Budget 18 | 11 January, 2018

Deferment of some of the key features under GST, including reverse charge mechanism (RCM), tax deducted at source (TDS) and tax collected at source (TCS) among others are some of the key recommendations submitted by a panel of officers.

The law review committee, comprising senior officers from the Centre and states, finalised their recommendations on January 5.

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No extension of due date for filing GST final returns: Finance ministry

Live Mint | 10 January, 2018

The finance ministry on Wednesday said that there is no extension of the due date for filing GST final returns and the deadline ends tonight.

The clarification comes after social media went abuzz with a fake notification which stated that the deadline for filing GSTR-1 has been extended.

“The last date for filing of return in FORM GSTR-1, for different classes of taxpayers for the relevant periods… remains 10 January 2018. There has been no further extension of date for filing return in FORM GSTR-1,” a finance ministry statement said.

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Jaitley rules out single GST rate

The Tribune | 2 January, 2018

Finance Minister Arun Jaitley today said while the question of a single GST slab in India does not arise, the process of rate rationalisation will continue.

He said a single GST rate was not viable in a large and diverse country like India where substantial population lived below poverty line. He ruled out having a single rate for all commodities under the goods and services tax (GST) saying items like food products would always be at minimum rates, while luxury items would remain in higher categories.

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Government relaxes norms for rectification of returns under GST

The Economic Times | 1 January, 2018

The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns – GSTR-3B – and adjust tax liability, a move that will help them file correct returns without fear of penalty.

This relaxation will give an opportunity to businesses to claim tax credit correctly by rectifying the mistakes made initially while computing GST liability.

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Govt extends deadline for filing final GST returns till 10 January

Live Mint | 29 December, 2017

The Goods and Services Tax (GST) Council has extended by 10 days the due date for filing sales returns for the July-September quarter for small businesses and monthly returns up to October by larger entities.

As per a notification issued by CBEC on Friday, based on a decision of the Council, small businesses with turnover up to Rs 1.5 crore, which were to file the first quarterly GST return relating to supplies in the GSTR-1 form by 31 December, can now file it by 10 January.

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‘Fix GST credit claims or face scrutiny’

The Hindu | 13 December, 2017

The Centre urged taxpayers to correct their TRAN-1 forms to avail transitional credit under GST by December 27, failing which the government would be forced to initiate audit proceedings in cases of high credit claims.

The Finance Ministry said while it had received some claims for high transitional credit for which there were legitimate explanations, it had also noted that several claims were not bonafide. This behaviour, the ministry said, could erode the trust between tax authorities and the taxpayers.

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Another GST rate tweaking may be in the works as govt hints at reviewing levies in top 28% bracket

First Post | 11 December, 2017

After slashing the Goods and Sales Tax (GST) rates of over 200 items last month, the government on Saturday hinted at reviewing levies on the items in the top 28 percent tax bracket.

On 10 November, the GST Council, headed by Finance Minister Arun Jaitley, had lowered GST rates on over 200 items, ranging from chewing gum to chocolates, to beauty products, wigs and wrist watches.

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GST anti-profiteering rules: Govt issues form to lodge complaints against firms

Live Mint | 07 December, 2017

Consumers looking to file complaints against businesses for not passing on benefits of lower taxes in the goods and services tax (GST) regime will have to furnish details of the price of the product and the applicable tax rates both in the pre and post GST era.

As per the anti-profiteering form released by the government on Wednesday, the complainant will have to file the application form before the standing committee on anti-profiteering for pan-India complaints or before the state screening committees if the profiteering is of a local nature.

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Advisory group on GST submits report, suggests changes

The Economic Times | 07 December, 2017

An advisory group on GST has suggested several changes in the new indirect tax regime with a view to simplifying procedures and ensuring automatic refund of taxes, said CAIT General Secretary and member of the panel Praveen Khandelwal.

The six-member panel set up by the government last month, he said, has made over 100 recommendations regarding GST.

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CBEC calls for reality check to boost GST mop-up

The Economic Times | 05 December, 2017

Amid concerns over slowing goods and services tax (GST) collections, the Central Board of Excise and Customs (CBEC) has sought detailed field reports with a special focus on the top taxpayers.

Finance secretary Hasmukh Adhia will review the revenue position with senior officials in the department on December 9

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GST collections in October decline to Rs 83,346 crore

The Economic Times | 28 November, 2017

India’s goods and services tax collections fell to Rs 83,346 crore in October, from more than Rs 90,000 crore in each of the first three months after the new tax regime was rolled out on July 1.

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India may adopt item-based anti-profiteering rules to benefit users

The Economic Times | 26 November, 2017

India is likely to adopt a product-specific approach to impose anti-profiteering provisions to ensure that consumers get the full benefit of price cuts due to the goods and services tax (GST), including recent revisions.

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GST-compliant MSMEs likely to get more sops

Live Mint | 24 November, 2017

The finance ministry is considering introducing more incentives for micro, small and medium enterprises (MSMEs) that comply with the requirements of the new goods and services tax (GST) regime, including access to loans at discounted rates, in an attempt to reward early adopters and encourage others to comply.

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Over 4.3 million businesses file initial GST returns for October

The Economic Times | 22 November, 2017

Over 4.3 million businesses have filed first set of returns for October, notching up the highest monthly filing by the due date since the new tax rolled out on July 1.

The last date for filing GSTR-3B, the initial sales returns, was November 20 for the previous month.

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12% & 18% GST slabs may be merged, 28% for demerit goods: Arvind Subramanian

The Economic Times | 21 November, 2017

The government may combine the 12 per cent and 18 per cent slabs for goods and services tax (GST) into one in the near future and reserve the 28 per cent rate only for demerit goods, said chief economic adviser Arvind Subramanian.

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Anti-profiteering authority to be set up under GST

Zee Business | 15 November, 2017

he Union Cabinet on Thursday approved the setting up of the anti-profiteering authority under the Goods and Services Tax (GST) regime in a bid to ensure that the benefit of lower rates is passed on to consumers. The Authority will be be composed of a chairman and four technical members.

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GST rate cut: Here’s what gets cheaper from November 15

Money Control | 15 November, 2017

The GST Council has overhauled the new tax regime reducing the 28 percent tax levied on 178 items to 18 percent or lesser. Most important of them all, the Council decided to slash the GST rate on AC and non-AC restaurants to 5 percent from the current 18 percent slab. The new rates will be applicable effective November 15.

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Finance minister Arun Jaitley hints at further rejig of GST

The Economic Times | 14 November, 2017

Finance minister Arun Jaitley hinted at further “rationalisation” of the Goods and Services Tax, depending on revenue buoyancy, and hit out at critics who linked rate cuts on about 200 items on Friday to the Gujarat elections. He said it was “juvenile politics” to link the reduction in rates to the state assembly polls.

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Six Things You Must Know About the New GST Rates

NDTV | 13 November, 2017

Tax rates on over 200 items, including beauty products, chewing gums, chocolates, coffee, and custard powder, among others, were slashed from 28 per cent to 18 per cent, Finance Minister Arun Jaitley said after the 23rd GST Council meeting in Guwahati. The council also made changes to the composition scheme.

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Recommendations made On GST Rate changes by the GST Council in its 23rd Meeting at Guwahati

The Hindu | 10 November, 2017

a) In the meeting held today, that is 10th November, 2017, the Council has recommended major relief in GST rates
on certain goods and services. These recommendations spread across many sectors and across commodities.

b) As per these recommendations, the list of 28% GST rated goods is recommended to be pruned substantially,
from 224 tariff headings [about 18.5% of total tariff headings at 4-digit] to only 50 tariff headings including 4
headings which have been partially reduced to 18% [about 4% of total tariff headings at 4-digit].

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GST Council meet on Friday, may announce new measures to boost digital payments, cut tax rates

The Economic Times| 9 November, 2017

A year after demonetisation, India is getting ready to give digital payments yet another push. It could consider providing incentives in the goods and services tax (GST) regime for payments that are settled electronically.
The GST Council meeting on Friday is likely to consider a proposal in this regard, a senior government official told ET.

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GST Council to trim list of items in 28% tax slab

Live Mint| 1 November, 2017

The GST Council is set to trim the list of items in the highest tax slab of 28% by shifting some items of common use as well as products made predominantly by small and medium enterprises (SMEs) to a lower tax slab. The tax rate fitment committee, a panel of central and state officials assisting the GST Council, is rigorously combing through the list of items in the highest slab to identify such items, two people with knowledge of the development said on condition of anonymity.

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Government extends deadline for filing GSTR-2 and GSTR-3

The Times of India| 31 October, 2017

In an effort to facilitate more businesses and taxpayers, the government on Monday extended the last date for filing the purchase return under the new Goods and Services Tax (GSTR-2) and GSTR-3 (matching of GSTR-1 and GSTR-2) for the month of July.

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Panel suggests making GST inclusion in MRP mandatory

Live Mint| 31 October, 2017

The group of ministers (GoM), headed by Assam finance minister Himanta Biswa Sarma, has in its recommendation to the GST Council on easing compliance burden on small and medium enterprises (SMEs) suggested that the government make it amply clear in the present law that MRP is the maximum retail price of a product to be sold in retail and charging anything above this is an offence.

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Panel proposes lower GST rates for small businesses

Live Mint| 30 October, 2017

A ministerial panel has recommended lowering the goods and services tax (GST) rates for small businesses and extending the benefit to more such units in an attempt to reduce their tax burden and improve compliance. If accepted by the GST Council at its 9-10 November meeting, the changes in the so-called composition scheme could benefit millions of small enterprises, eateries and traders.

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Govt extends deadline to claim GST transition credit to 30 November

Live Mint| 27 October, 2017

The government on Thursday extended the deadline by a month till 30 November for businesses to claim credit of transitional stock in the goods and services tax (GST) regime.“Form GST TRAN-1 (with revision facility) extended to 30 November 2017,” said a tweet by GST@GOI, the official twitter handle of the government for GST.

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GST collections at Rs 92,150 crore in September

The Economic Times| 25 October, 2017

The government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh businesses, the finance ministry said today. Of this, Rs 14,042 crore is on account of Central GST, while State GST is to the tune of Rs 21,172 crore.

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GST returns: Govt waives fine for delayed filing for August, September

live Mint| 24 October, 2017

The government on Tuesday waived penalty on delayed filing of initial goods and services tax (GST) returns for the months of August and September.“To facilitate taxpayers, late fee on filing of GSTR-3B for August and September has been has been waived,”finance minister Arun Jaitley tweeted. He said that the late fee which has been already charged to businesses will be credited back to the taxpayers’ accounts.

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GST returns: Govt waives fine for delayed filing for August, September

live Mint| 24 October, 2017

The government on Tuesday waived penalty on delayed filing of initial goods and services tax (GST) returns for the months of August and September.“To facilitate taxpayers, late fee on filing of GSTR-3B for August and September has been has been waived,”finance minister Arun Jaitley tweeted. He said that the late fee which has been already charged to businesses will be credited back to the taxpayers’ accounts.

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Govt says GST rates may be rejigged to reduce burden on SMEs

Zee Business| 23 October, 2017

The government seemed to have made yet another indication that it may reduce the Goods and Service Tax (GST) burden for small and medium businesses. Revenue Secretary, Hasmukh Adhia said that some rejig in the GST rate structure is required to reduce the burden on SMEs.

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File GSTR-3B return before Diwali: CBEC

The Economic Times| 13 October, 2017

Having ruled out further extension of the date for filing Goods and Services Tax Returns (GSTR), the government on Friday said the October 20 deadline to file the GSTR-3B would not be extended.

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Talks on getting real estate under GST next month: Arun Jaitley

The Times of India| 13 October, 2017

Finance minister Arun Jaitley has decided to kick off a discussions on expanding goods and services tax (GST) to the real estate sector, a move aimed at checking tax evasion in the sector known for cash-based transactions and lowering prices for flat buyers in the long-run.

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GST Deadline Ends, 40 Lakh Businesses File Returns For July

NDTV| 11 October, 2017

Filings under the Goods and Services Tax or GST continue to be below expectations, data shows. Out of a total 65 lakh taxpayers registered under the GST, only 40 lakh have filed returns under GSTR-1 for July. October 10 was the deadline to complete GSTR-1 filings for July. The government had extended GSTR-1 filing deadlines by two months and waived off the per day delay penalty of Rs. 100 to help people file returns.

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Will consult States on bringing petroleum products within scope of GST, says Modi

The Hindu| 09 October, 2017

The Union government would consult the States on bringing petroleum products into the ambit of the Goods and Services Tax (GST), Prime Minister Narendra Modi said on Monday. Mr. Modi was reacting to suggestions from industry leaders to bring petroleum products that now face high Central and State levies, into the GST net, at an official meeting with head honchos of the oil and gas industry.

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GST Council sets up panel to rework GST rate for restaurants

Live mint| 08 October, 2017

Federal tax body the Goods and Services Tax (GST) Council has set up a five-member panel of state ministers to make the quarterly tax filing and payment scheme for small businesses more attractive and to rework the tax rate on restaurants.The panel comprises Assam finance minister Himanta Biswa Sarma, Bihar deputy chief minister Sushil Kumar Modi, Jammu & Kashmir finance minister Haseeb Drabu, Punjab finance minister Manpreet Singh Badal and Chhattisgarh commercial taxes minister Amar Agrawal, a person privy to the development said on the condition of anonymity.

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GST: Govt sets up panel to receive profiteering complaints

Live Mint| 14 September, 2017

A four-member standing committee, comprising tax officials of the Centre and states, has been set up to receive complaints of undue profiteering by any entity under the new goods and services tax (GST) regime. The Standing Committee on anti-profiteering will act as a complaint processing machinery and will refer any cases it finds fit for investigation to the Directorate General of Safeguards (DGS). The setting up of the panel, with two officials of the Central Board of Excise and Customs (CBEC) and one each from Delhi and Haryana tax department, sets in motion the anti- profiteering clause under the GST.

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Government eyes one 18% GST rate, or dual slab of 12% & 18%

The Times of India| 12 September, 2017

A little over two months after the launch of goods and services tax (GST), the Centre has reiterated its plan to shift to a single rate of 18 per cent, or a dual slab of 12 per cent and 18 per cent in the future, while advising states against seeking too many exemptions and periodic reduction in rates for products and services as it would impact the long-term objective.

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Here are the extended due dates for filing returns for GST

Z Business| 10 September, 2017

The GST Council on Saturday decided to extended the deadline for filing of the returns. The council said that in view of the difficulties being faced by taxpayers in filing their returns, they have approved for revising the schedule of filing of GST for the month of July.

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Govt extends deadline for filing GST returns

Times of India| 5 September, 2017

Amid reports of a sudden surge in filing of returns that put a huge load on the Goods & Services Tax Network (GSTN), the IT backbone for GST, the government on Monday extended the last date for filing of returns for three categories. “GIC (GST Implementation Committee) decides to extend date of GSTR 1, GSTR 2 and GSTR 3 for the month of July to 10th, 25th and 30th September 2017 respectively,” according to an announcement on micro blogging site Twitter. “GIC decides to extend date of GSTR 1, GSTR 2 and GSTR 3 for the month of August to 5th, 10th and 15th October 2017 respectively,” it said.

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GST: Centre waives off late-filing penalty

The Indian Express | 2 September, 2017

The central government, on recommendation of the Goods and Services Tax (GST) Council, has waived off the late-filing penalty for all registered taxpayers who failed to file GST-3B return by the due date. “In exercise of the powers conferred by section 128 of the Central Goods and Services Tax Act, 2017 (12 of 2017), the Central Government, on the recommendations of the Council, hereby waives the late fee payable under section 47 of the said Act, for all registered persons who failed to furnish the return in FORM GSTR-3B for the month of July, 2017 by the due date,” Central Board of Excise and Customs (CBEC) said in a notification.

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GST to have 1 less slab? FM Arun Jaitley hints so; see what may change

Financial Express| 1 September, 2017

The Goods and Services Tax (GST) Council might consider converging the current standard GST rates of 12% and 18% into a single rate after the new indirect tax regime settles down, finance minister Arun Jaitley said on Thursday. Speaking at the India summit organised by The Economist here, Jaitley said, “I do see a situation where, assuming tax compliance remaining high and the transition smooth, the GST Council, which is sensitive to the challenges of time, can take the appropriate decision (on tax slabs) taking into account its impact on inflation.”

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Convergence of GST tax rates likely in coming days: Arun Jaitley

Business Standard| 31 August, 2017

Finance Minister Arun Jaitley on Thursday said that he expected convergence of two Goods and Services Tax (GST) rates into one in the coming days, though ruling out a single rate of taxation under the new indirect tax regime.

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GST collections top govt target, 64% file returns in July: Arun Jaitley

Business Standard| 30 August, 2017

The collections under the goods and services tax (GST) in July, the first month of its roll-out, exceeded the Union and state governments’ target, even though 36 per cent of the assessees did not file returns.The governments have earned Rs 92,283 crore, against the target of Rs 91,000 crore.

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Over 36 lakh businesses file GST returns so far

BusinessLine| 29 August, 2017

Over 36 lakh businesses have so far filed their first tax returns under the Goods and Services Tax (GST) regime, a top tax official said today. Tax collected in the maiden filings under the GST regime, which kicked in from July 1, are still being compiled as the last date for filings under different rules is not yet over, he said.

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Tally helped 75% customers to migrate to GST regime

ETtech| 24 August, 2017

Software company Tally has helped over 75% of its 11 lakh customers migrate to the goods and services tax (GST) regime through its ERP software. Starting September, millions of businesses across India will need to file invoices on a monthly basis under the new tax regime.

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GST revenue: Rs 40,000 cr received from 13 lakh assessees; 22 lakh yet to file returns

Financial Express| 22 August, 2017

The government has collected a gross goods and service tax (GST) amount of Rs 40,000 crore so far with 13 lakh assessees having filed an interim tax return on the GST Network as of Monday evening. In addition, 22 lakh assessees have filled in the relevant details on the portal but are yet to file return, senior government officials said. Of the total amount of Rs 40,000 crore, Rs 15,000 crore has come in as integrated-GST, which is levied on interstate movement of goods.

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GST Return Filing: How to handle discounts and additional cost

The Economic Times| 18 August, 2017

One of the sea changes brought about by the GST era is the way we determine the value of goods and services.
As a business, one needs to be aware of the changes in the valuation method and also how to go about valuation in some special cases, for e.g. additional charges / discounts, branch transfers (which are taxable under GST) and when a supply is made with money not being the consideration.

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GST Council extends July payment and return filing deadline to 25 August

NDTV| 18 August, 2017

A key panel of the Goods and Services Tax (GST) Council on Saturday decided to extend the deadline for businesses and traders to remit their taxes and file returns for the month of July—the first month of rolling out the indirect tax reform—by five days to 25 August.
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GST Return Filing Deadline Extended For Businesses With Transitional Credit

NDTV| 18 August, 2017

The government on Thursday gave some relief to taxpayers availing of transitional input tax credit under the GST regime by giving them an extra week till August 28 to file tax returns. Businesses under the Goods and Services Tax (GST) set-up have to file their first return, GSTR 3B, for July on the portal of GST Network — the IT infrastructure provider for the new indirect tax regime — by August 20. The return filing had commenced on August 5.

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Government notifies timeline for filing of tax returns under GST

The Economic Times | 10 August, 2017

The government has notified the dates for furnishing final tax returns for July and August under GST regime.The GST Council, chaired by FM Arun Jaitley and comprising his state counterparts, had in June allowed more time to businesses for filing final GST returns in forms GSTR-1, GSTR-2 and GSTR-3 for July and August.

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Are benefits of GST actually being transmitted to end users?

India Infoline| 7 August, 2017

It’s been over a month since the rollout of the unified tax regime, Goods and Services Tax (GST) in the country still everyone is wondering what would be the overall effect of GST on the industry. The government also has been closely watching daily price changes in more than two dozen essential commodities to check any abnormal price movement.

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Centre, states to come out with post-GST product rates

The Times of India| 7 August, 2017

Amid pressure from some states, the GST Council will soon start publishing rates of various products to prod companies to pass on gains, including those from input tax credit.

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GST Council approves hike in luxury car cess

The Economic Times| 7 August, 2017

Thinking of buying an SUV or a luxury sedan? You might want to hurry up and decide quickly as the Goods and Services Tax Council is said to have decided to raise the cess on luxury automobiles to 25% from 15% now. To be sure, the rates may not go up immediately as any increase in the cess will require an amendment to the GST compensation law.

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GST council gives nod to e-way bill, anti-profiteering body

The Economic Times| 5 August, 2017

In a slew of decisions, the Goods and Services Tax Council approved implementation the electronic way bill system across the country, created necessary structural framework for anti-profiteering mechanism and provided relief to the agitating textiles sector by slashing rate of job work to 5% from a high of 18 %.

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Next GST Council meet to decide on anti-profiteering mechanism

The Economic Times| 2 August, 2017

The Goods and Services Tax Council will at its next meeting finalise a mechanism to operationalise the anti-profiteering clause which seeks to protect consumers interest, finance minister Arun Jaitley told the Lok Sabha on Tuesday. He said a proper decision would be taken on Air India’s future and it would be in the government’s interest to protect jobs at the airline.

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IGST collection from imports rises about 60% in just one month of GST

The Economic Times| 1 August, 2017

The collection of Integrated Goods and Services Tax from imports crossed Rs 20,000 crore in July — the first month of the roll out of the new indirect tax regime, pointing towards a major jump in revenues. Total customs revenues in July 2017 stood at Rs 26,500 crore as against Rs 16,625 crore collected in July 2016.

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CAIT demands relook of items under 28% GST slab

moneycontrol| 31 July, 2017

“Moreover, the slab of 28 per cent requires a re-look as many of the items falling under this slab ought to be placed under other lower tax slabs,” the Confederation of All India Traders (CAIT) said in a statement.

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GST has big positive on economy, benefits can be seen within a month: Narendra Modi in Mann Ki Baat

The Economic Times| 31 July, 2017

The benefits of goods and services tax (GST) can be seen within a month of its implementation as it has produced a “big positive effect” on the economy, and has bolstered the economic progress, Prime Minister Narendra Modi said in his ‘Mann ki Baat’ address on Sunday.

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Government draws up checklists for GST audits

The Economic Times| 21 July, 2017

The Centre has created a detailed road map for goods and services tax (GST) audits barely 20 days after the levy’s rollout, listing risks, target industries and even potential auditees for officials examining corporate India’s transition to the new regime.In the past week, the government has reached out to tax commissioners on the audit process, highlighting the risk areas.

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Tax departments keep a close watch on prices post GST rollout

The Economic Times| 19 July, 2017

Tax departments across the country are keeping a close watch on prices following the July 1 rollout of the goods and services tax (GST). Makers of consumer goods and handsets, as well as some restaurant chains, have all got calls from local tax authorities seeking details of invoices before and after GST as part of the exercise.

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FM Arun Jaitley rules out lowering GST rate for textiles sector

The Economic Times| 18 July, 2017

The government has ruled out relief to the textile industry, which has sought abolition of the 5% goods and services tax (GST) imposed on fabrics. “The main demand of the textile traders is not to put any tax on fabrics. However, the same cannot be accepted,” finance minister Arun Jaitley said in a written reply to a question in the Rajya Sabha.

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GST Council raises cess on cigarettes to fix anomaly under GST

The Economic Times| 18 July, 2017

The goods and services tax (GST) Council raised the cess on cigarettes Monday to address an anomaly under the new regime that had resulted in lower tax incidence than before. The move will raise the prices of cigarettes that had fallen under the GST regime, which rolled out July 1.

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Post GST, you will see prices falling: Piyush Goyal

The Economic Times| 16 July, 2017

Stressed power assets can be a source of low-cost electricity, replacing costly supplies, says power, coal, renewable energy and mines minister Piyush Goyal. In an interview with ET , he also said the goods and services tax (GST) had rolled out smoothly and that it will end corruption and create jobs.

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GST impact on companies: Gloom and doom vanishes, India Inc at ease

Financial Express| 14 July, 2017

Contrary to gloomy predictions, the roll-out of the goods and services tax (GST) has been a much smoother affair and the industry has adapted to it without major hassles.As FE spoke to a cross-section of the industry, several government officials and the administrative and field levels, tax experts and analysts, some things came out clearly:

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GSTIN display on sign boards must for businesses

The Economic Times| 11 July, 2017

Traders and businesses will have to display the GST registration number on their business sign boards and the registration certificate in premises. Also, composition dealers will have to mention that they are availing the composite scheme and are not entitled to collect taxes from people.

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GST: Gifts worth up to Rs 50,000 by employer exempt, experts say welcome relief for industry

FirstPost.| 11 July, 2017

The government on Monday clarified that gifts worth up to Rs 50,000 by an employer to its employees as also free membership of clubs, health and fitness centres will not attract the goods and services tax (GST), which the tax experts said will come as a relief for the industry.

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GST: Truck movement picks up pace as border check post starts disappearing

The Economic Times| 10 July, 2017

Many producers and transport operators are reporting logistics efficiency gains after states abolished border checkposts in the wake of GST, which promises one nation, one tax, one market. As many as 22 have removed barriers and others will do so soon.

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Tally Solutions launches GST compliance software

The Economic Times| 23 June, 2017

In order to help businesses understand and more importantly, comply with the obligations of GST, Tally Solutions on Thursday announced the launch of its new software called Tally.ERP 9 Release 6 – a GST ready accounting and compliance software. The product has been designed keeping in mind the need to break down the complexities of GST compliance and at the same time provide speed without faulting on accuracy. The objective, claims the company, is to help businesses become GST complaint from Day 1.

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Return timelines extended: India Inc gets GST filing breather for 2 months

Business Standard| 19 June, 2017

Amid doubts in some quarters over the tech preparedness for the goods and services tax (GST), the high-powered GST Council on Sunday decided to introduce the new indirect tax system from the midnight of June 30-July 1, but gave a relaxed timetable and exemption from penalties and late fees to industry while filing returns in the first two months.

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GST Council revises rates for 66 items

The Economic Times| 12 June, 2017

India’s most comprehensive indirect tax reform — the goods and services tax (GST) — is inching towards a July 1 rollout with the GST Council cutting the rate on household goods and other essential items, raising the threshold for the scheme that requires lesser compliance and approving another key set of rules relating to audit and accounts.

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BIZGURU, a One-Stop Solution for Small Businesses and Traders

BW Disrupt| 6 June, 2017

Confederation of All India Traders (CAIT), the country’s largest trade body, Acer, one of the largest PC companies in the world and Tally Solutions, India’s leading business software provider, today announced the launch of “BIZGURU”, a one-stop plug and play business solution for all accounting and GST compliance needs. BizGuru comes with Acer’s world-renowned PC products and pre-installed Tally.ERP 9, the country’s preferred business software. The initiative is supported by CAIT, who have been helping Indian traders embrace new technology for the last decade.

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How self-employed professionals, entrepreneurs, SMEs can get ready for GST

The Economic Times| 5 June, 2017

In the five years she has been running a small business of gift packaging, Samiksha Dhingra has not felt the need to apply for a sales tax number. “My business is very small and doesn’t require sales tax registration,” says the Gurgaon-based entrepreneur. But this will soon change because Dhingra plans to take her business online. The Goods and Services Tax (GST), which comes into effect from 1 July, requires all e-commerce businesses, including tiny outfits like Dhingra’s, to register under the new tax regime.

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GST Council fixes tax rates for gold, textiles, footwear

The Economic Times| 3 June, 2017

The GST Council today decided to tax gold at 3 per cent, footwear below Rs 500 at 5 per cent and biscuits at 18 per cent under the Goods and Services Tax, which will be rolled out from July 1.

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Countdown to GST: Council to finalise tax rates of remaining goods on Saturday

Moneycontrol| 2 June, 2017

The Goods and Services Tax (GST) Council will finalise the contours of the new indirect tax system on Saturday, in its 15th meeting as it is slated to be rolled out in the next four weeks.ates of few contentious items such as textiles, footwear, gold, beedis and cigarettes, biscuits, bio-diesel and agricultural implements are likely to reach consensus.

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Ecommerce biggies fight to untangle GST’s multiple registrations knot

The Economic Times| 2 June, 2017

India’s largest online retailers are lobbying hard against requirement to register in each state under the proposed goods and services tax (GST) regime, which may not allow them to accept products from small dealers with annual turnover of Rs 20 lakh as they have been kept outside GST.

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TV, AC to cost more, smartphones to be cheaper under GST

Moneycontrol| 29 May, 2017

Aerated drinks and consumer durables like TV, AC, washing machines and refrigerators will cost more, while smartphones, small cars and daily use items will turn cheaper when the GST is implemented from July.

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Tax rates before and after GST

Bloomberg Quint| 19 May, 2017

Rates for most items and services under the Goods and Services Tax have been finalised in the two-day meeting of the GST Council that ended on Friday. While the rates on key daily use items like sugar, tea and hair oil have come down, they have been increased for luxury and sin products. Eating out in a five-star restaurant will be taxed at the highest bracket.

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जी एस टी में इनपुट क्रेडिट का एस एम इ पर कैसा होगा प्रभाव

दैनिक जागरण | 15 मई, 2017
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जी एस टी में इनपुट क्रेडिट खड़ी कर सकता है परेशानी

अमर उजाला | 11 मई, 2017

नई व्यवस्था में छोटे कारोबारी हो सकते है परेशान, बाजार से बाहर होने का खतरा

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GST council’s sub-panel to fix tax rates of goods, services by weekend

Livemint| 2 May, 2017

The goods and services tax (GST) council’s rate fitment committee will deliberate in the capital for three days starting 4 May to align all goods and services to different slabs and decide on bringing more items currently out of indirect taxation at central and state levels into the unified tax net.

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Two rates for services under GST, says govt

The Times of India | 26 Apr, 2017

The government said on Tuesday that there will be two slabs for services under GST, with segments such as transport facing a lower levy compared to the 18% tax on several services.

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Cabinet clears abolition of cesses for GST rollout, government to incur Rs 65,000-crore loss

The Economic Times | 22 Mar, 2017

The Union cabinet on Monday gave its nod to the supporting legislations for the implementation of the goods and services tax (GST) paving the way for the bills to be tabled in the Lok Sabha this week.

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Cabinet approves supporting GST legislations ahead of 1 July roll-out

Livemint | 20 Mar, 2017

The Union cabinet on Monday gave its nod to the supporting legislations for the implementation of the goods and services tax (GST) paving the way for the bills to be tabled in the Lok Sabha this week.

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GST inches closer to July 1 rollout, Council clears all five draft bills

The Economic Times| 16 Mar, 2017

With the Goods and Service Tax (GST) Council on Thursday approving the remaining two draft bills – UTGST (Union Territory GST) and SGST (state GST), all the five enabling draft bills stand approved to enable a likely rollout of the new indirect tax regime by July 1.

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GST Council meet today may approve crucial legislations

The Economic Times| 16 Mar, 2017

The GST council is expected to approve two crucial legislations at its meeting on Thursday, giving a fresh push to the government’s efforts to roll out the ambitious indirect tax reform from July 1. The council is likely to approve the state GST (SGST) and the union territory GST (UTGST) bills, and the government expected to seek cabinet approval for the other bills approved by the council earlier.

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Taxes under GST ‘to increase a bit’, says CBEC Chairman

The Economic Times| 14 Mar, 2017

While the effective rate of indirect taxes under the new Goods and Services Tax (GST) regime still remains unclear, as fitment in tax slabs is under way, the Central Board of Excise and Customs (CBEC) has said that taxes were likely to “increase a bit” from the current level.

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Fearing loss of buyers, small companies demand leeway on GST payment deadline

The Financial Express| 4 Mar, 2017

A section of the small businesses fears loss of their long-time buyers and resultant erosion of turnover once the Goods and Services Tax (GST) is implemented. As per a provision endorsed by the GST Council, if a firm fails to pay GST within a stipulated window of 60 days – small businesses often need to delay tax payments to meet exigencies like payment of salaries – the entity that purchases goods/services from it and add value to them will be denied input tax credit (ITC), resulting in higher tax outgo.

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July reality for GST! Centre, states broadly agree on key provisions

The Economic Times| 4 Mar, 2017

The GST Council at a meeting today broadly agreed on the contours of two key legislations – CGST and IGST – but a final approval is likely only by mid-March.

Union Finance Minister Arun Jaitley met with his state counterparts today and discussed the GST legislation to be adopted by Union Territories, but there was no discussion with regard to the State GST Bill.
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Liability linkage provision in GST to hit small traders

The Economic Times| 4 Mar, 2017
A provision in the model goods and services tax (GST) law to ensure the smooth flow of credit and minimise tax evasion could hit small businesses and suppliers by favouring bigger and financially stronger ones.

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GST Council to meet today to clear crucial Bills

Business Standard| 4 Mar, 2017

People dealing with small companies have made a pitch for changes in the goods and services tax (GST) legislation to avoid cash-flow problems for this sector even as the GST Council takes up crucial Bills at a two-day meeting beginning Saturday.
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Critical weekend at hand, GST Council expected to hear clear 3 GST bills

The Financial Express| 3 Mar, 2017

This weekend is critical, with the GST Council expected to approve three GST Bills, namely, the CGST, SGST and IGST Bills. This would be an important milestone in the GST journey, and once approved, the CGST and IGST Bills are expected to be tabled in the second phase of the Budget Session starting March 9 for early passage. States will equally need to plan passage of SGST Bills in their Assemblies within a short period.

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GST levy may go up to 40%, 4-slab structure to remain

The Hindu| 3 Mar, 2017

The GST levy may go up to 40% after the GST Council proposed raising the peak rate in the Bill to 20%, from the current 14%, to obviate the need for approaching Parliament for any change in rates in future.
The model Goods and Services Tax Bill will replace the clause which states the tax rate “not exceeding 14%, with “not exceeding 20%” when it comes up for debate in Parliament during the second phase of Budget session beginning next week.

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GST to be a reality soon, to be implemented from July 1, 2017; all states on board, says Shaktikanta Das

Financial Express| 28 Feb, 2017

Goods and Services Tax (GST) will be implemented from July 1, 2017, Economic Affairs Secretary Shaktikanta Das said on Tuesday. Speaking to reporters Das said that GST will be a reality soon as all states were on board. The GST, which will replace a myriad of consumption taxes, could be a “game changer” over the medium term as it would reduce tax cascading and boost India’s competitiveness, investment and job creation.

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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:| 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 |   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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