GST Bills to be introduced in Parliament next week: Finance Minister

Finance Minister Arun Jaitley said supporting legislations for implementation of goods and services tax will be introduced in Parliament next week, reported PTI. The finance minister maintained that GST is likely to be rolled out from July 1. Jaitley said there is long procedure before the Bills are introduced in Parliament and the GST Council cleared those four bills only last week.

Exports to become more competitive with GST: Minister

The Commerce Minister has said that the implementation of GST, the new indirect tax regime, would help remove barriers between the states and make exports more competitive. Commenting on the issue, Commerce and Industry Minister Nirmala Sitharaman told the media, "GST (Goods and Services Tax) gives a feeling that market in India is one now and there are no barriers between regions or provi

GST will lift barriers, make exports more competitive: Nirmala Sitharaman

With a unified pan-India market slated to become a reality through implementation of the Goods and Services Tax (GST) from July 1, the removal of octroi barriers between states would help make exports more competitive, Commerce Minister Nirmala Sitharaman said on Thursday.

"GST gives a feeling that market in India is one now, and there are no barriers between regions or provinces

GST Bills to be placed in Parliament this week

The Goods and Services Tax (GST) enabling bills will be placed in Parliament for approval this week itself, Minister of State for Finance Arjun Ram Meghwal said on Thursday.

The four GST Bills -- Central Goods and Services Tax (CGST) Bill 2017, Integrated Goods and Services Tax (IGST) Bill 2017, Union Territory Goods and Services Tax Bill (UTGST) 2017, and Goods and Services Tax (Comp

Government to unveil 5 bills for implementation of GST: Finance Minister

The Finance Minister has said that five legislations will soon be introduced in Parliament with the objective of rolling out the comprehensive indirect tax reform GST from July 1. Commenting on the issue, Finance Minister Arun Jaitley told the media, "The Government will bring before Parliament four GST legislations and there will be a fifth legislation as Excise and Customs Acts will have

CESTAT expects pending tax disputes to reduce before GST roll out

The Customs, Excise and Service Tax Appellate Tribunal (CESTAT) expects number of pending tax disputes would go down before implementation of Goods and Services Tax as it is disposing of cases quickly, an official said on Wednesday.

"Currently there are about 88,000 pending cases with the tribunal. We are trying to dispose the cases as quickly as possible given the constraints of

Tax commercial, domestic gas equally under GST: Auto LPG body

With the Goods and Services Tax (GST) slated for implementation from July 1, the Indian Auto LPG Coalition (IAC) has urged rationalisation in duties of domestic and commercial liquefied petroleum gas (LPG) to encourage use of environment-friendly auto LPG and prevent diversion of domestic fuel for commercial use.

IAC in a statement here said the duties levied on commercial LPG are muc

Jaitley hopes GST roll out from July 1 to make goods cheaper

A new nationwide goods and services tax (GST) will be rolled out from July 1 to create one of the world's biggest single markets, make commodities cheaper and make tax evasion difficult, Finance Minister Arun Jaitley said today. Speaking at the 23rd Conference of the Commonwealth Auditor General, Jaitley said India has "hugely" a non-tax compliant society and the government banned

Hopeful of rolling out GST from July 1: Finance Minister

Finance Minister Arun Jaitley said he is hopeful of rolling out the biggest tax reform GST from July 1 which will make goods and services cheaper and tax evasion difficult, reported PTI. The Finance Minister also said achieving a growth rate of 7-8 per cent is plausible and if economies pick up globally then the country's growth rate can go up further. Demonetisation, Jaitley said, will act

Ads push M&E sector growth 9.1% in '16; may clip at 13% in '17

Inspite note ban shaving off upto 250 basis points growth across all sub-segments, the media and entertainment industry clipped at 9.1 per cent in 2016 driven by over 11 per cent growth in advertising, says a report as per the PTI. The industry is likely to grow at 13.1 per cent this year, with the economy recovering from the lingering effects of demonetisation and initial uncertainties arising

Hoping to implement GST from July 1: Arun Jaitley

Finance Minister Arun Jaitley said on Wednesday that the government was hoping to implement the Goods and Services Tax (GST) by July 1 after the enabling Bills get Parliament's nod in the current budget session.

"GST is the biggest reform in India. Hopefully, GST will be implemented by July 1. GST Bills will hopefully be cleared in Parliament," Jaitley said here at the 2

GST implementation to benefit Meghalaya: Minister

Meghalaya will be benefited through the Goods and Services Tax (GST) regime which is likely to be implemented on July 1, Taxation Minister Zenith M. Sangma said on Tuesday.

"Destination-based consuming states like Meghalaya will benefit from the GST implementation," he informed the state assembly during Question Hour.

The final decision on the implementation of the

Implementation of GST to be fiscal neutral: Nomura

A Nomura report has said that the implementation of Goods and Services Tax (GST) is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points. According to the Japanese financial services major, the GST council is making steady progress and is expected to be implemented in the July-September quarter this year.

As per reports, though the impa

GST impact on inflation to be less than 20 bps: Nomura

The implementation of Goods and Services Tax (GST) is likely to be fiscally neutral and its impact on inflation is expected to be less than 20 basis points, says a Nomura report. According to the Japanese financial services major, the GST council is making steady progress and is expected to be implemented in the July-September quarter this year. Though the impact of GST is likely to be minimal,

Cabinet approves four GST-related bills

The Union Cabinet on Monday approved four Goods and Services Tax (GST) related bills which have already been approved by the GST Council after detailed discussions.

The draft legislations include Central Goods and Services Tax (CGST) Bill 2017, Integrated Goods and Services Tax (IGST) Bill 2017, Union Territory Goods and Services Tax Bill (UTGST) 2017, and Goods and Services Tax (Comp

Protect tobacco farmers' interest in GST laws: FAIFA

Farmers' body FAIFA today asked Finance Minister Arun Jaitley to protect interests of Indian tobacco farmers while formulating GST laws. The Federation of All India Farmer Associations (FAIFA), a non-profit organisation representing farmers across states such as Andhra Pradesh, Telangana, Karnataka and Gujarat, also said there should not be any discrimination among cigarette, bidi and chewi

Cabinet clears GST supplementary legislations

The Cabinet today cleared four supporting GST legislations, paving the way for their introduction in Parliament as early as today, said the media reports. The four supporting legislations -- the Compensation Law, the Central-GST (C-GST), Integrated-GST (I-GST) and Union Territory-GST (UT-GST)-- would be introduced as Money Bill, sources said as per the PTI report. "The GST legislations hav

India cabinet approves draft GST bills - minister

NEW DELHI - India's cabinet has approved four bills to implement a planned Goods and Services Tax (GST) bills, a government official said on Monday, paving the way for Prime Minister Narendra Modi to implement the landmark tax reform from July.

The four bills are likely to be taken up by the parliament this week, and a separate state GST bill in state assemblies l

E-commerce firms to pay up to 1% TCS under GST

E-commerce companies like Snapdeal and Amazon will have to mandatorily deduct up to 1 per cent TCS (Tax Collected at Source) while making payments to their suppliers under the GST regime which is likely to start from 1st July, as per the media reports. The model Goods and Services Tax (GST) law, finalised by the GST Council, provides for 1 per cent TCS to be deducted by the e-commerce operators

Entire country should discuss, understand GST: Narendra Modi

As the Goods and Services Tax (GST) system heads for a July 1 rollout, Prime Minister Narendra Modi on Saturday said people should make efforts to discuss and understand the new indirect tax regime.

"I want the entire country to discuss and try to understand GST," Modi said here at the India Today Conclave through video conferencing.

"In GST, the ent

GST can push up GDP by 150-200 bps: HDFC Chairman

HDFC Chairman Deepak Parekh on Friday said the Goods and Services Tax (GST) regime can push up the country's growth by as much as 150-200 basis points (bps).

"If we have a good GST system, lot of experts say GDP could go up by 150-200 bps," Parekh said at the India Today Conclave here.

India's GDP for the third quarter ended in December 2016 recorded a grow

GST Council caps cess on luxury goods at 15%: Reports

The Indian Government has said that a maximum of 15 per cent cess on top of the peak GST rate of 28 per cent will be levied on luxury goods and aerated drinks after the GST Council approved a cap on cess along with supporting legislations.

Commenting on the issue, Finance Minister Arun Jaitley told the media, “The actual cess on demerit goods, which will help create a corpus for

EPCES hails GST council decision on SEZs

The Export Promotion Council for SEZ and EoUs has welcomed the GST Council's decision to treat supplies to special economic zones at par with exports, reported PTI. Export Promotion Council for SEZ and EoUs (EPCES) said that earlier the supply of goods or services, to an SEZ developer and SEZ units were defined as 'zero rated supply' under IGST, and it mandated the developers and un

Council approves all five draft bills for GST

With the Goods and Service Tax (GST) Council on Thursday approving the remaining two draft bills -- UTGST (Union Territory GST) and SGST (state GST), all the five enabling draft bills stand approved to enable a likely rollout of the new indirect tax regime by July 1.

Council likely to meet to approve UTGST

The Goods and Service Tax (GST) Council will meet on Thursday to discuss the remaining two draft laws -- UTGST (Union Territory GST) and sGST (state GST) -- to enable a likely rollout of the new indirect tax regime by July 1.

GST Council consists of Finance Minister Arun Jaitley and state finance ministers.

The meeting will be held in the evening. A meeting of concerned GST