GST News

Notification on extension of facility of LUT to all exporters issued

06 October 2017 at 11:02

[To be published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i)]Government of India Ministry of Finance (Department of Revenue ) [Central Board of Excise and Customs]Notification No. 37 /2017 – Central TaxNew Delhi,

Posted in GST | 4998 Views

FM hints at reduction in GST tax slabs in future

02 October 2017 at 14:39

FM: To reduce tax slabs in case of GST, we have to become revenue neutral plus; Inspects the Passing-out Parade of 67th Batch of IRS(C&CE) and delivers Valedictory Address; Calls for fair implementation of tax laws; Releases NACIN Coffee Table Bo

Posted in GST | 5736 Views

Facility for exporters to furnish Letter of Undertaking instead of bonds

02 October 2017 at 14:39

Small exporters have brought to the notice of the Government the difficulties in furnishing bond with requisite bank guarantee. To facilitate exports under GST, it has been decided that the facility of furnishing Letter of Undertaking, in place of a

Posted in GST | 3513 Views

GST revenue dips to 90669 crore for August

27 September 2017 at 11:31

The Goods and Services Tax (GST) was introduced on 1st of July, 2017. In the press release dated 29th August, 2017, it was reported that the total revenue of GST paid under different heads for the month of July, 2017 (upto 29th August) was Rs. 92,283

Posted in GST | 2 comments | 6021 Views

GST Actionable Claim On Branded Food Products

23 September 2017 at 13:16

Notification Issued For GST Actionable Claim On Branded Food Products The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, inter alia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit co

Posted in GST | 1 comments | 6297 Views

Blockage of Working Capital of Exporters

23 September 2017 at 13:16

There are lot of apprehensions expressed in the media about the problem of blockage of working capital for exporters post-GST. There are various figures also being discussed on the blockage of such funds, which are wild estimates. Such media reports

Posted in GST | 4032 Views

Clarification about 65000 crore transitional credit

23 September 2017 at 13:16

There are lot of speculations in the media about the credit of Rs. 65,000 crore claimed by taxpayers in respect of Central Excise and Service Tax in the pre-GST period. Some people are under the impression that because of Rs. 65,000 crore claimed as

Posted in GST | 2 comments | 4278 Views

Submission of GST Tran-1 period extended till 31st October

22 September 2017 at 10:56

F. No. 349/58/2017-GST Government of India Ministry of Finance Department of Revenue Central Board ofFrise and Customs New Delhi, the 21st September. 2017 Order No. 03/2017-GST Subject: Extension of time limit for submitting the declaration in FORM G

Posted in GST | 9 comments | 27126 Views

GST rate for branded cereal, pulses and flour

21 September 2017 at 10:47

The GST Council, in its 21st meeting held on 9th September, 2017 at Hyderabad has, interalia, recommended that for 5% GST rate on cereals, pulses and flours etc. put up in unit container and bearing a registered brand name: a) A brand registered as o

Posted in GST | 5625 Views

Seventh amendment to the CGST Rules, 2017

18 September 2017 at 10:51

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]Government of IndiaMinistry of FinanceDepartment of RevenueCentral Board of Excise and CustomsNotification No. 34/2017 - Central TaxNew Delhi, the 15th Septe

Posted in GST | 8928 Views