Tag Archives: GST

Simpler GST turns out to be bad business for India’s tax consultants

MUMBAI: For a newly minted partner in one of the Big Four professional services firms, becoming a stay-at-home dad had never crossed his mind. That, until last month. He had joined the company as a partner in 2016, with a 30% pay hike, from a rival firm. With an eight-figure salary, a chauffeur-driven, high-end German car and a penthouse in ... Read More »

GST Council Meet: Relief for common man as rates slashed for several goods

Finance Minister Arun Jaitley addresses media after 31st Goods and Services Tax Council meeting. (Photo: PTI) The Goods and Services Tax Council on Wednesday slashed tax rates for 23 commonly used items that have been reduced from 18 per cent to 12 and 5 per cent respectively, said Puducherry Chief Minister V Narayanasamy. The fresh rate rationalisation is the government’s ... Read More »

GST tweaked, relief for small businesses

October 6, 2017: The GST Council, chaired by Union Finance Minister Arun Jaitley, met in New Delhi today. Prime Minister Narendra Modi had asked the GST Council to review all the problems arising from the new indirect tax regime. The council deliberated on GSTN glitches and issues faced by exporters. Jaitley addressed the media after the meeting. Change in rates ... Read More »

GST Council Meets Today, Breather Likely for Small Businesses

New Delhi: The all-powerful Goods and Services Tax (GST) Council will hold its 22nd meeting on Friday and is likely to consider relaxing the return filing cycle for small and medium enterprises. Implemented on July 1, the GST replaced 17 central and state taxes to unite the country as one market but has been facing starting trouble. Among the challenges are ... Read More »

Govt sets terms for business deregistering brands for lower GST

The government today said businesses that want to deregister their brands for availing the benefit of lower GST will have to file an affidavit before the tax commissioner about forgoing the rights. Also, the businesses will have to print in indelible ink on containers in which they are selling cereals, pulses, flours that they have voluntarily foregone actionable claim or ... Read More »

Unclear GST rules blindside Indian businesses

NEW DELHI, JULY 27:   The Goods and Services Tax was meant to unify the $2 trillion economy and make it easier for companies to transact across state borders. Nearly a month on, many are finding that doing business is more complicated than ever. Ambiguous rules under the new multi-rate GST tax that went into effect on July 1 have left ... Read More »

TN theatres shut for 2nd day over 30% entertainment tax even after GST

Theatres across Tamil Nadu will continue to remain shut on Tuesday for the second consecutive day protesting against the state government’s decision to levy 30 per cent entertainment tax over and above the 28 per cent Goods and Services Tax (GST). The double taxation has left the Tamil filmdom in disarray, forcing the Tamil Nadu Film Chamber of Commerce to announce shutdown of theatres ... Read More »

GST in travel and tourism

CA. H.M. Talha Rahman, Partner, Selvarajan & Co., Chartered Accountants, Chennai, speaks at length about what GST would mean for the country’s economy while giving a very accurate and deep understanding about the computation involved for the travel industry. “There is a big hue and cry about GST and people are speculating a lot about this. What we fail to ... Read More »

Car makers woo customers ahead of GST with huge discounts

Companies have been forced to come up with the discounts as potential customers have been expecting car prices to come down As customers wait for prices to come down after GST implementation, automobile companies are wooing them with attractive limited period discounts of up to ₹2.5 lakh across a range of vehicles . Maruti Suzuki, Hyundai, Honda, Nissan, Mahindra and ... Read More »

Slohia.com – How GST Regime is Going to Change Lifestyle

The biggest tax reform in India GST is all set to favor the need of the taxpayers in the country from 1st of July 2017. The major reform is undoubtedly going to affect the taxpayers for all the services they will be buying after 1st of July 2017. The goods and services tax which is popularly known as GST has ... Read More »