GST News

GST Council recommends increase in Compensation Cess on Motor Vehicles

08 August 2017 at 11:37

GST Council Recommends Increase in Maximum Ceiling of Cess Leviable on Motor Vehicles Falling Under Headings 8702 and 8703 to 25% Instead of Present 15% The GST Council considered the issue of cess leviable on motor vehicles in its 20th meeting held

Posted in GST | 4500 Views

Decisions taken on 20th GST council meeting

07 August 2017 at 11:49

Decisions taken on Services at 20th GST Council Meeting on 5 August, 2017 S. No. Description of service From To 1. Job work services in respect of the textiles and textile products (including MMF yarn, garments, made-ups, etc. fal

Posted in GST | 2 comments | 9624 Views

Eighteen sectoral group under GST

05 August 2017 at 11:08

The Goods and Services Tax (GST) Council in its 14th meeting held on 18-19 May, 2017 approved the constitution of eighteen sectoral groups to ensure smooth roll-out of GST. The Council has received reports from sixteen out of the eighteen sectoral gr

Posted in GST | 1 comments | 6546 Views

Post GST reduction of incidence of Tax on Coal Consumers

04 August 2017 at 11:01

In pre GST regime there was Excise Duty on Coal @ 6% , Stowing Excise Duty @ Rs. 10 per tonne of coal production, VAT@ 5% (on intra-state sale), Central Sales Tax @ 2% (on inter-state sale, on submission of Form C) . Post implementation of GST all th

Posted in GST | 1 comments | 4059 Views

Impact of GST on Airfares

02 August 2017 at 11:12

Under the GST regime the applicable tax rate on passenger tickets for economy class has been reduced from 6% to 5% (non-creditable for goods). The tax rate for business and first class has been increased from 9% to 12% (with input tax creditable for

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Govt call centres to cater to the queries relating to GST

02 August 2017 at 11:12

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

Posted in GST | 1 comments | 4359 Views

No Shortage of Essential Drugs post GST introduction

31 July 2017 at 10:57

Minister of State for Road Transport & Highways, Shipping and Chemicals & Fertilizers, Shri Mansukh L. Mandaviya, in a written reply to a question in Rajya Sabha today, informed that as per the information received from the All Indian Origin

Posted in GST | 3066 Views

Printing of Post GST Rates on Old Stock

29 July 2017 at 13:23

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-pac

Posted in GST | 8 comments | 23094 Views

BRICS countries Heads of Revenue meeting hails GST Reforms

29 July 2017 at 13:23

BRICS countries’ Heads of Revenue Meeting hails GST Reforms being introduced in India; Memorandum of Cooperation (MOC) in respect of tax matters identifying areas of cooperation signed by the BRICS Heads of Revenue at the Meeting held at Hangzh

Posted in GST | 3393 Views

Benefits of GST for the Transport Sector

27 July 2017 at 11:06

The transport sector stands to benefit from the recently rolled out GST in several ways. Pre- GST, the complex tax structure and paper work forced the transport industry to spend a lot of resources on tax compliance and deposit of interstate sales ta

Posted in GST | 8820 Views