In New GST Changes, 28% Tax Only For 50 Items Now: 10 Facts

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In New GST Changes, 28% Tax Only For 50 Items Now: 10 Facts

GUWAHATI:  The highest rate of 28% will apply to about 50 items now under the Goods and Services tax after Finance Minister Arun Jaitley met with his counterparts from states. Earlier, about 200 items were in the maximum of four tax slabs. The decision comes amid complaints by traders and small businesses which say the new ...continue reading

GST Collection Stands At Rs. 92,150 Crore In September

New Delhi: India's Goods and Services Tax (GST) collections in September totalled Rs 92,150 crore and were collected from 42.91 lakh businesses, the government announced on Tuesday. "The total revenue in GST regime under different heads (up to October 23) for September 2017 is Rs 92,150 crore," a Finance Ministry statement said here.   Of this, Rs 14,042 crore is on account ...continue reading

5% GST On Devices For Disabled Would Lead To Lower Prices: Finance Ministry

New Delhi:  The 5 per cent Goods and Services Tax (GST) on devices used by phyically challenged would actually lead to a reduction in their prices, the Union Finance Ministry said on Tuesday. "5 per cent GST rate on these devices/equipments would enable their domestic manufacturers to claim refund of any accumulated input tax credit. That ...continue reading

Revenue Secretary Hasmukh Adhia Dispels Seven ‘Myths’ About GST : Read Here

NEW DELHI: A day after the pan-India Goods and Services Tax (GST) came into effect, Revenue Secretary Hasmukh Adhia on Sunday cleared certain misconceptions about the new indirect tax regime. "There are seven myths going around about GST which are not true. I want to dispel them one by one in form of myth and ...continue reading

As GST Takes Off, PM Modi Presents Stats Of Crackdown On Black Money

NEW DELHI:  On a day after India's biggest tax reform came into force, Prime Minister Narendra Modi on Saturday vowed to continue the crackdown on black money and announced that the government cancelled registration of one lakh firms over the last 48 hours and was probing 37,000 shell companies on suspicions of funneling black money. ...continue reading