GST (Amendment) Act, 2018 from 1st February 2019
Central GST amendment Act 2018 & Integrated GST amendment Act 2018 will apply from 1st February 2019. Learn all the changes to the GST laws with comparison
32nd GST Council Meet – News Updates & Highlights
Decisions taken to expand scope of composition scheme, Increase GST registration limit and no rate cuts; GoM formed to study tax on housing sector & lottery
31st GST Council Meeting – News,Updates & Highlights
31st GST Council Meeting was held on 22nd December 2018 at New Delhi: Consumer-oriented items underwent rate cuts; changes to GSTR-9 & due date extended;
Extension of IGST & Cess Exemption till March 2019 to EOUs & IT Parks
Read CBIC notification on exemption granted to EOUs and STPs from payment of IGST, & compensation cess on the supplies that is now extended till Mar 2019.
30th GST Council Meeting – Highlights & Decisions
Just In: 31st meet held on 22nd December; catch the latest updates here along with the highlights of 30th GST council meeting held on 28th September 2018.
GST Monthly returns proposed
The newly proposed GST Monthly Returns is on public forum for comments. These can be filed by all the taxpayers except small taxpayers. Know who and how can file new monthly GST returns & much more..
GST Incentives for Digital Payments – Updates
GST Council announced cashback for Digital Payments . Consumers using modes of Digital Payment such as BHIM, UPI, RuPay and USSD to benefit by this scheme.
GST Quarterly Returns proposed for Small Taxpayers
The newly proposed GST Quarterly Returns is on public forum for comments. These can be filed by Small taxpayers. know who are small taxpayers & much more..
29th GST Council Meeting – Key Highlights & Decisions
31st GST Meeting being held on 22nd December; catch the latest updates here along with the highlights of 29th GST council meeting held on 4th August 2018
Announcement of GST Revised Rates
GST rates have been revised again!, Note the principle changes that was announced in 28th GST Council Meeting on 21st July 2018 and how it's benefited us.
GST Council Approves Simplified GST Returns
The GST Council approved two new simplified GST returns - Sahaj and Sugam, with the objective of increasing the ease of doing business for small GST dealers in India. Read this article to know more
28th GST Council Meeting – Key Decisions announced!
28th GST council meet was held on the 21st July 2018. Important decisions made on simple GSTR, ITC & many consumer related products enjoyed rate cuts!
GST Orders and Circulars Summary
Stay updated and read on here about the most recent circulars and orders of 2017, 2018, and 2019 under GST. Here is a handy summary for all Central Tax/union territory tax/ integrated tax orders and circulars.
27th GST Council Meeting
The 27th GST council meet is scheduled for the 4th of May 2018. Simplification of return preparation is expected. Check out the expectations for 28th GST council meeting here.
GST Notifications Summary
All Updated GST Notifications summarized in this article.
26th GST Council Meeting Highlights : List of all Rules & Rate Changes
Next GST Council meeting to be held in New Delhi on 10th March 2018. Major rejig in Return filing process, Clarity on E-Way Bill & much more on the agenda! Know about 26th GST Council Meeting decision & press release.
Government Self Service Portal for GST Queries
https://selfservice.gstsystem.in is the new helpdesk window launched by GSTN. Know how to raise and track all your GST queries at one place.
25th GST Council Meet Highlights : List of all Rules & Rate Changes
The 25th GST Council Meet was held on 18th January 2018 in Vigyan Bhawan, New Delhi. Visit this page for the updates.
22nd GST Council Meet Highlights : List of all Rules & Rate Changes
GST Council held its 22nd GST Council meet on 6th October 2017. Here are the important updates of the meet based on the press release.
23rd GST Council Meet Highlights : List of all Rules & Rate Changes
GST Council held its 23rd GST council meet on 10th November 2017. Here are the important updates of the meet.
The Number of Registered Tax Assessees Have Swelled Post GST
The number of registered tax assessees have marginally surged by about 25%, post the implementation of GST.
Efficiency of the Transportation Sector up by 30% Post GST
Prime Minister Modi hailed GST implementation and cited that it has increased the efficiency of the transport sector by at least 30%.
Taxpayers Worried About Missing ITC Column in GSTR-3B
Taxpayers transitioning to GST are in for a shock. The GSTR-3B form is missing a crucial column which might affect ITC claims for the months of July-August.
Govt. Working Towards Tech for E-way Bills; Hopes for Non-Intrusive Solutions
The E-way Bill proposed under GST could be the shot in the arm that India's logistics industry has been looking for. The govt. thinks the same.
Dealers Can Now Track GST Number on Govt. Portal
There's good news for dealers migrating to GST as the government portal now has the feature for tracking one's GST number or GSTN.
Students’ Hostels Exempt From GST, Says Govt.
Worried about GST increasing your education fees? The government has clarified that hostels will not fall under the purview of GST.
Govt. Sets Rules to Check On-Ground GST Implementation Issues
The Cabinet Minister has sent a directive to all Central Ministries asking them to check and report on GST implementation issues.
Important GST Dates – Your Calendar for GST 2018
A handy GST 2018 calendar mentioning all the important GST dates and details when to file your returns. Know all the due date extensions at one place!
Govt. Looking to Fast Track Reimbursement Scheme For Industries
The tax exemptions enjoyed by companies under the previous VAT regime will not be applicable under GST. The govt. has a scheme in place to solve this.
GST Extended to Jammu and Kashmir
The hilly state of J&K has finally passed the laws needed to make GST a reality. With the President's nod, the new tax policy will now be live in the state.
Automobile Companies Slash Prices Post-GST
Post-GST is the best time to buy your new set of wheels, as companies have started to slash prices after recalculation of the new stock.
Govt. Says Inflation Not an Issue: Prices will Come Down Due to Competition
Worried about high prices due to GST? The government says market competition will force companies to adjust prices without any draconian tactics.
GST Council Passes Anti-Profiteering Laws Ahead of Launch
Anti-profiteering laws are an important part of the GST law. The Council has approved the clause in its recent meeting and warned against non-compliance.
All States Except Jammu and Kashmir Pass State GST Laws
All states have now passed the respective SGST laws except for Jammu and Kashmir where the entire bill is still in contention.
GST To Be Implemented on Midnight of June 30th; FM Denies Further Delays
The Finance Minister has quashed all rumours surrounding any delays in GST implementation and said that the transition event will occur on June 30th.
Companies Slow Down Production Ahead of GST In Order To Clear Stock
Companies have decided to slow down production and dispatch in the last few days of June, ending this quarter early so as to be GST-ready in time.
GSPs Have Lesser Time for Compliance and Testing as Council Releases New Rules for Compliance
GSPs are having a tough time preparing for GST launch as they feel they do not have enough time to test and ready their software.
GST Faces Tough Opposition in Jammu and Kashmir
GST in the Valley faces a hard road ahead with a fresh barrage of opposition from the separatist leaders in the region. Read more.
Airlines May Increase Ticket Prices To Cover GST Costs
Despite the claims that air fares will come down after the implementation of GST, the latest news says that the opposite may be true. Learn more.
E-way Bill May Be Delayed by a Few Months
As the government authorities prepare for the launch of GST, the much-talked about e-way bills might be pushed down the line. Read more.
GST Will Level the Playing Field for Organised Retail: Report
An industry report says GST will level the playing field for organized retail in the coming days, and decrease competition from unorganized businesses.
It Is Raining Discounts as Electronic Retailers Prepare for GST
As GST draws near, electronic retailers are trying their best to sell off old stock by offering heavy discounts on white goods.
GST Rate for Textile Industry Will Have Positive Impact, Says Central Government
The textile industry was worried about GST being levied. However, senior tax officials say that the 5% GST will have positive benefits in the long run.
GST Council Extends Limit to 90 days for Claiming Credit on Transition Stock
The time limit for claiming input tax credit on GST transition stock has been increased to three months. Some rule changes have also been made.
Medicines Will Get Costlier After GST Rollout
Life-saving drugs may see a marginal increase in price while other OTC formulations might get more expensive post GST implementation.
GST Will Help SMEs Secure Credit Easily
Good news for SMEs! GST seems likely to open up more avenues for securing credit in a reliable and easy manner for the sector, say experts.
Mobile Companies Worried About GST Compliances
Telcos are having a tough time deciding the impact of GST on their revenues. The GST software overhaul required could set the industry back a fair bit.
No GST on Alcohol, but Beer Will Still Be Costlier
Alcohol is currently outside the purview of GST. However, experts believe this might cause more trouble for the liquor industry in the coming days.
GST Council Meeting in Srinagar – Day 1 Briefing
The GST Council's fitment committee is currently discussing the rates for various products. Here are the updates from Day 1 of the meet in Srinagar today.
Will GST Bring Down Prices? New Tax Rates Will Tell
Businesses have made their GST calculations, and are not entirely sure if the new tax will lower prices. Much depends on the Council's decision this week.
Majority of Businesses May Still Not Be GST-Ready: Survey
The countdown to GST is on and the news that majority of Indian businesses are still not ready is a bit unsettling. A survey from Ginesys gives the numbers.
Excise Collections May Drop Before GST Goes Live
With dealers preferring to play the wait-and-watch game and no buy inventories before GST goes live, excise collections in the second quarter may drop.
GST Fitment Committee to Meet in Srinagar This Weekend
The rates on goods and services have long been awaited. With the fitment committee meeting this weekend to decide rates, we can finally have the answer.
One-Third of State Revenue to Be Outside GST Purview
GST started with the promise of 'one nation, one tax'. But keeping multiple state taxes outside its purview defeats the exact purpose of the new tax regime.
GST to have Smaller Assessee Base as compared to Current IDT Universe
GST will subsume all the indirect taxes in India, but the tax base of the new regime might become smaller than what it is now.
GST Enrollment will Reopen Soon: Revenue Department
The GSTN portal stopped enrollments on April 30. The Revenue Department has now stated that the enrollment process will start again soon.
Quarterly Return Filings for All Taxpayers Not Workable: Finance Minister
Speaking at an event in the capital, the Finance Minister clarified why quarterly returns cannot be made possible for all taxpayers under GST. Read more.
GST Will Improve Competitiveness Among Domestic Companies
A level playing field and a seamless flow of input tax credit should allow domestic companies to blossom in the GST era, says the Revenue Secretary.
Large Companies Worried about Supplier Readiness for GST
Even as companies in the country prepare for GST launch, doubts about supplier readiness and flow of input tax credit continue to haunt them. Read more.
GSTN begins pilot testing of return filing process
Return filing under GST will be done online, and to ensure that the system is ready for taxpayers, the GSTN will conduct a live test soon.
GST subpanel to fix rates of individual goods by this weekend
The fitment committee will soon meet for a three-day discussion to finalise the tax rates of all goods and services and align them to present tax rates.
GST expected to boost growth by 4.2% says Federal Reserve
A new paper from a U.S. Federal Reserve says that the estimated impact of GST on India's GDP growth could be as high as up to 4.2%.
PM asks states to amp up clearance of GST Bills
With GST's go-live date knocking on the door, the PM has asked all states to clear GST Bills on priority. Changing the FY to Dec-Jan was also on the cards.
Two tax slabs for services likely; Council is examining proposal
Under GST, services might be taxed at two separate rates - 12% and 18%, instead of one uniform rate to avoid unnecessary burden on the end consumer.
Real estate sector worried about raised costs due to GST
Real estate developers across the nation are worried that the overall cost of properties could rise by a discernible margin under the new GST rates.
Kerala leads the way in businesses migrating to GST
GST will go live on 1st July and businesses across the country are migrating to the new tax regime. Kerala is leading the way in this regard.
AITAF wants E-way Bills under GST to be scrapped
The All India Tax Associates Federation wants the Finance Minister Mr. Arun Jaitley to completely do away with the the E-way Bills under GST.
GST rates to be decided this week
The GST council’s fitment committee which includes tax officials from the Centre and the states will meet this week to find a formula for slotting services into the four-tiered tax structure of GST.
GST Council might keep single tax rate for each product group for simplicity
Experts hope that the GST Council will not keep variable tax rates within a single product group as it will further complicate the tax system.
Soaps, shampoos, and toothpastes get costlier as sellers get ready for July 1
FMCG brands have already started to lay out plans for GST with de-stocking and raising prices before implementation to protect operating costs.
Congress wants GST pushed to October; calls the Bill ‘imperfect’
Senior Congress leaders want GST implementation to be pushed to October citing an inverse impact on small and medium enterprises and imperfect tax rates.
GST Bill to be tabled in Rajya Sabha today
The government is pushing ahead with its agenda of rolling out the country’s biggest tax reform since independence by tabling the GST Bills in Rajya Sabha today
SBI raises concerns about GST rollout
State bank of India has become the first Indian bank to raise concerns about the compliance required for services under the GST regime
Finance Ministry asks for public opinion on GST Rules
The government has put eight set of rules relating to GST in the public and asked for opinions from industries and end consumers.
Exchange offers to become less attractive under GST
GST will apply on the actual value of goods purchased and not on reduced amount under exchange offers paid in cash, says government.
GST will not apply on education, healthcare, and pilgrimages
The government has decided not to levy GST on sectors which are currently exempt from tax such as healthcare and education.
Govt. very serious about July 1 deadline: Hasmukh Adhia
Revenue Minister Hasmukh Adhia says that the government is very serious about implementing GST come July 1. Delay can happen only in special circumstances.
Seven hour debate in Parliament on GST Bill starts
The GST Bill is under debate in Lok Sabha today in a marathon seven-hour session where it faces opposition from the Congress.
GST Bills to be discussed in Lok Sabha tomorrow
GST Bill enters its last phase with four important bills up for discussion in the Lok Sabha on Tuesday. The deadline for GST is July 1st.
GST will not apply to Kashmir in its present form : Hasib Drabu
Under Article 370 of the Constitution, J&K enjoys financial autonomy and special taxation powers which contradict the provisions of the GST Bill.
Petroleum should also be a part of the GST structure, says Ministry
Petroleum Minister Dharmendra Pradhan is of the opinion that bringing petrol under the purview of GST will help states in the long run.
Centre to get bigger share of the residual GST Compensation Fund
The new GST Compensation Bill gives the Centre a bigger share of the residual fund after the five year transition period, as compared to before
Still no clarity on amount for state compensation packages
The GST council had approved the bill to state compensate packages for possible revenue loss in the five years following GST implementation.
GST council meet for decision on GST launch date
The GST council is meeting is to resolve differences between centre and states over administration powers over GST registrants.
GST council to debate major laws in next meeting: Revenue Secretary
A major law like the GST cannot be implemented without a few hiccups, and figuring out nitty gritties is part of the job of the GST council.
Model GST Law – Final version from the month end
The country is gearing up for the implementation of GST from July but the nuances of the model GST law are yet to be set in stone.
GST on E-com sector unites all to ask for help from FICCI
Due to GST on e-com sector online rivals Amazon, Flipkart, and Snapdeal approach FICCI as a united front in a bid to gain exemption from GST.
Seller associations not sharing e-com companies concerns over TCS
While the e-com companies concerns over TCS, the sellers association seems to be quite pleased with the idea of a level playing field.
Kerala jewellers association pushes for uniform gold tax under GST
The Kerala jewellers association pushes for uniform gold tax at 1.25% under the new GST regime since gold tax is not part of the four-tier GST structure.
Textile mills ask PM for fixed 5% levy under GST law
Tamil Nadu textile mills have approached Prime Minister Narendra Modi to ask for a fixed levy of 5% under the new GST law.
GST Council approves bill to compensate states for revenue losses
The GST Council approved the bill guaranteeing compensate states for revenue losses that may occur due to the transition to the new tax regime.
GSTN under the scrutiny for tax evasion, says CBEC
The GSTN is a privately held firm that is tasked with building the IT infrastructure for transition to GST & is now under scrutiny for tax evasion.
Cabinet abolishes cesses; govt. to lose INR 65,000 crores in revenue
In order to facilitate GST implementation, the government is looking to do away with 16 cesses and surcharges on the union excise and service tax.
AAP’s Manish Sisodia wants to address traders’ concerns under GST
Manish Sisodia wants the government to rethink and address traders’ concerns under GST more closely and focus on the most affected people and businessman.
States demand e-permit for goods transported across borders
The negotiations between the Centre and the states on the finer points of GST bill have argued for the e-permit for goods transported across borders.
GST Announces Cess Rates on Tobacco Products and Pan Masala
GST Council has decided to limit the cess rates on tobacco products at 290 % ad valorem and on pan masala at 135% ad valorem.
GST Council clears way to rollout GST bill
The GST Council has given the green signal to rollout GST bill from July, after clearing all requisite regulations and legislations.
Cabinet clears four bills for GST; will move Parliament next
The Cabinet approved four critical bills on Monday, clearing the way for GST implementation by July 1. These bills will now be presented to Lok Sabha.
Impact of GST on inflation to be less than 20 bps, says Nomura
The Japanese fiscal research company Nomura has said that the impact of GST on price rates in India would be less than 20 basis points.
Beverage giant Coca Cola wants lower GST rates and increase in deadline
US beverage company Coca-Cola wants the Indian government to reduce the tax on aerated drinks from 43% to 34% and to increase the July 1st deadline for implementation to September.
GST Council Deadlock – A Blessing in Disguise for SMEs?
Impact of the Deadlock in GST Council over the contentious issue of Revenue Sharing and Dual Control