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  • GST Council extends July payment and return filing deadline to 25 August
    Posted Date : 19-Aug-2017 , 09:58:10 pm | Posted By CASANSAAR

    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. A statement from ...

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  • Govt extends GST return filing deadline for cos who want to claim credit for past taxes
    Posted Date : 17-Aug-2017 , 09:45:50 pm | Posted By CASANSAAR

    In what could bring relief to small taxpayers with cash flow issues, the Central Board of Excise & Customs (CBEC) has extended the deadline for taxpayers claiming input tax credit on transition (pre-GST) stocks to file the first interim returns for July by a week to August 28. However, these tax...

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  • On Clarification regarding availability of Transitional Credit for GST
    Posted Date : 18-Aug-2017 , 07:56:41 am | Posted By CASANSAAR

    As per the rules, the Goods and Services Tax (GST) for the month of July 2017 has to be paid by 20th August, 2017. Only after the payment of full GST, return in summary Form 3B can be filed.  Concerns have been raised about the form for claiming transitional input tax credit not being availa...

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  • Cabinet approves CGST refund scheme
    Posted Date : 17-Aug-2017 , 08:32:13 am | Posted By CASANSAAR

    The government has approved a new metro rail policy, a scheme to refund central goods and services tax ( CGST) to industrial units in Himachal Pradesh, Uttarakhand, Jammu & Kashmir and the North-East ctill 2027, and changes to strategic disinvestment policy to speed up d...

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  • GST rollout improves business efficiency by 30% - PM
    Posted Date : 15-Aug-2017 , 09:40:56 pm | Posted By CASANSAAR

    The abolition of inter-state check posts after the implementation of GST has reduced time for movement of goods by 30 per cent and saved thousands of crores of rupees, Prime Minister Narendra Modi said today. The Goods and Services Tax, which unified more than a dozen central and state levies, is...

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  • 18% GST on food takeaway from non-AC area at AC restaurant
    Posted Date : 13-Aug-2017 , 07:43:45 pm | Posted By CASANSAAR

    A uniform GST rate of 18 per cent will be charged on takeaways as well as food served from a non-AC area of a hotel or restaurant if any of its part has a facility of air conditioning, the government has said.  The new Goods and Services Tax (GST) regime, which was rolled out from July 1, pr...

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  • GST Law Committee extends deadline to claim input tax credit by one week
    Posted Date : 12-Aug-2017 , 08:30:46 am | Posted By CASANSAAR

    In a major relief for some taxpayers registered under GST, the GST Law Committee has extended the deadline to claim input tax credit by one week. So, now those taxpayers who are eligible for such refund will first have pay their tax dues - post adjustment of input tax credit by August 20, while c...

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  • GST - Online travel agents liable to deduct 1% tax at source
    Posted Date : 08-Aug-2017 , 09:30:09 pm | Posted By CASANSAAR

    Online travel agents providing online ticketing and other services will be liable to deduct 1% tax at source under the GST regime as they have been classified as e-commerce operators, the CBEC said on Tuesday. Under the Goods and Services Tax (GST) regime, an e- commerce operator is required to coll...

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  • GST - Rates on textile works, tractor parts cut; e-way bill provisions finalised
    Posted Date : 06-Aug-2017 , 02:46:24 pm | Posted By CASANSAAR

    The GST rates on textile job works like stitching and embroidery, and tractor parts were cut on Saturday, while e-way bill provisions relating to online pre-registration of goods before transportation were relaxed. The all-powerful GST Council, headed by finance minister Arun Jaitley and comprisi...

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  • GST Council meet to review implementation today
    Posted Date : 05-Aug-2017 , 07:30:54 am | Posted By CASANSAAR

    The Goods and Services Tax (GST) Council will meet today to review the implementation of GST which was rolled from 1st of July, this year.  The GST Council at its meeting will finalise a mechanism to operationalise anti-profiteering clause which seeks to protect consumers interest.  ...

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  • Businesses can start filing July returns from 5 Aug - GSTN
    Posted Date : 04-Aug-2017 , 08:35:37 am | Posted By CASANSAAR

    The first tax returns under the new Goods and Services Tax (GST) regime can be filed from Saturday and the facility will remain open till 20 August, GST Network Chairman Navin Kumar said on Thursday. Businesses can start filing their first GST returns and pay taxes for July on the portal of GST N...

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  • No GST on traditional Rakhi; 5% tax on gold, silver rakhis
    Posted Date : 04-Aug-2017 , 08:31:33 am | Posted By CASANSAAR

    Rakhi, the sacred thread that women tie on the wrist of their brothers on the day of Raksha Bandhan, will not attract the goods and services tax (GST) provided it's the traditional cotton thread. However, gold and silver rakhis will be taxed 5%.  The finance ministry has said puja samagr...

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  • Nearly 40% taxpayers yet to complete GST enrollment process - GSTN
    Posted Date : 03-Aug-2017 , 07:00:20 am | Posted By CASANSAAR

    Even as the date of filing the first returns under the goods and services tax (GST) looms, nearly 40% of the taxpayers that have migrated to the GST Network (GSTN) portal are yet to complete the entire enrollment process, a necessary condition for filing returns. Over 71 lakh taxpayers of VAT, servi...

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  • GST Council to decide on anti-profiteering mechanism at Saturday meet
    Posted Date : 02-Aug-2017 , 10:55:21 am | Posted By CASANSAAR

    The much-awaited mechanism for anti-profiteering will be decided upon by the GST Council on Saturday, Finance Minister Arun Jaitley told the Lok Sabha on Tuesday. He also expressed the hope that other sectors would follow suit of the auto sector to cut prices due to the effective lower rates under t...

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  • Reduction/exemption of tax rates under GST for small businesses
    Posted Date : 01-Aug-2017 , 09:55:27 pm | Posted By CASANSAAR

    The Government has received representations from small businesses relating to exemption from GST, reduction in applicable rates of GST, and product and area wise exemptions. The GST rates on supply of goods and services have been notified based on the recommendations of the GST Council. The tax rate...

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  • Government sets up two call centres to cater to the queries relating to GST
    Posted Date : 01-Aug-2017 , 09:51:40 pm | Posted By CASANSAAR

    Government has set up two call centres being run for the purpose of catering to queries of taxpayers and stakeholders in GST. i. Call centre on GST Application software prepared by GSTN, is being run by GSTN. Phone number is 0120-4888999 and email id is helpdesk@gst.gov.in ii. CBEC Mitra Helpd...

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  • Over 5 lakh businesses opt for GST Composition Scheme - RS
    Posted Date : 31-Jul-2017 , 10:16:46 pm | Posted By CASANSAAR

    Union Revenue Secretary Hasmukh Adhia on Monday said as many as 5.12 lakh businesses have so far opted for the Composition Scheme under the GST system. "Dealers opting for composition in the Goods and Services Tax (GST) system is 5.12 lakh up to Sunday (July 30)," the Revenue Secretary ...

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  • Embroidered sarees to attract 5% GST - CBEC
    Posted Date : 31-Jul-2017 , 10:07:12 pm | Posted By CASANSAAR

    Sarees, whether designer or embroidered, will attract a five per cent Goods and Services Tax (GST), the tax department said today. Clearing the air over whether sarees will be treated as garments or fabric, the Central Board of Excise and Customs (CBEC) said sarees are treated as fabric and it re...

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  • GST - Sale of bottled water on same rate Post GST
    Posted Date : 29-Jul-2017 , 07:28:38 am | Posted By CASANSAAR

    On account of implementation of GST there may be instances where the retail sale price of a pre-packaged commodity is required to be changed. Department of Consumer Affairs has therefore issued an advisory on the matter.  Further, vide this advisory it has been informed inter alia, that for ...

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  • GST - Printing of Post-GST Rates on Old Stock
    Posted Date : 29-Jul-2017 , 07:26:56 am | Posted By CASANSAAR

    On account of implementation of GST there may be instances where the retail sale price printed on a pre-packaged commodity is required to be changed. The Department has issued an order according to which, manufacturers/ packers/ importers of pre-packaged commodities are allowed to declare the revise...

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  • Benefits of the reduced rates/tax rebate to the consumers post GST
    Posted Date : 28-Jul-2017 , 10:15:04 pm | Posted By CASANSAAR

    The GST Council comprising the representatives of Central and State Government recommended the GST rates for goods and services, interalia taking into account the pre-GST indirect taxes incidence on goods and service. The GST rates on goods have since been notified. With the GST rates so notified th...

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  • GSTN portal begins invoice uploading for businesses
    Posted Date : 25-Jul-2017 , 08:26:13 am | Posted By CASANSAAR

    The GSTN portal has started accepting uploading of sale and purchase invoices of businesses generated post Goods and Services Tax rollout on July 1.  GST Network (GSTN) is the company handling the IT backbone for the new tax regime.  The uploaded invoice data can be saved at the port...

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  • GST - Mobile vans to educate traders about GST
    Posted Date : 24-Jul-2017 , 07:56:49 am | Posted By CASANSAAR

    Delhi government will be launching six mobile vans on Monday to tour the city's markets and attempt to help traders with issues related to GST. The decision to start the vans was announced by deputy chief minister Manish Sisodia about 10 days back after he received feedback that several small...

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  • Government draws up checklists for GST Audits
    Posted Date : 21-Jul-2017 , 06:18:26 am | Posted By CASANSAAR

    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 ...

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  • Cabinet approves Integrated Goods and Services Tax (Amendment) Bill, 2017
    Posted Date : 19-Jul-2017 , 10:53:41 pm | Posted By CASANSAAR

    The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Integrated Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Integrated Goods and Services Tax (Amendment) B...

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  • Cabinet approves Central Goods and Services Tax (Amendment) Bill, 2017
    Posted Date : 19-Jul-2017 , 10:51:45 pm | Posted By CASANSAAR

    The Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its ex-post facto approval for the promulgation of the Central Goods and Services Tax (Extension to Jammu & Kashmir) Ordinance, 2017 and replacement of the Ordinance by the Central Goods and Services Tax (Amendment) Bill, 2...

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  • GST win-win deal for all - Finance Minister
    Posted Date : 19-Jul-2017 , 05:15:25 pm | Posted By CASANSAAR

    Finance Minister Arun Jaitley today described the Goods and Services Tax (GST) as a "win- win" deal for all as it will expand the tax net, end "inspector raj" and bring down prices of goods. Pitching the GST as a measure beneficial for the country at a meeting of the BJP parli...

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  • GST - Increase in the Compensation Cess rate on cigarettes
    Posted Date : 18-Jul-2017 , 10:54:16 am | Posted By CASANSAAR

    In pursuance of the recommendations of the GST Council in its 14th Meeting held on 18.05.2017 and 19.05.2017, the Compensation Cess rates under Section 8 (2) of the Goods and Services Tax (Compensation to States) Act, 2017, was notified vide notification No.1/2017-Compensation Cess (Rate), date...

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  • GST - Growing Stronger Together
    Posted Date : 17-Jul-2017 , 04:50:22 pm | Posted By CASANSAAR

    Prime Minister Narendra Modi today hoped the "growing stronger together" spirit of GST will bring enthusiasm to Parliament proceedings and that political parties will engage in high standard of debate and provide value addition during the Monsoon session. Terming the start of the sessio...

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  • GST Council meet today to take stock of implementation
    Posted Date : 17-Jul-2017 , 08:12:49 am | Posted By CASANSAAR

    Two weeks into the new levy, the Goods and Services Tax Council will meet on Monday to review its implementation. “The 19th meeting of GST Council under the chairmanship of Finance Minister Arun Jaitley will be on Monday,” said the Finance Ministry. However, this meeting will be he...

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