Demonetisation along with recently introduced Goods and Service Tax (GST) may impact the business of upcoming wedding season, which is starting from November, by 10-15 per cent, said industry chamber, ASSOCHAM on Monday. Wedding services like marriage hall booking, tent booking, confectionery services and photography are expected to get impacted.[Read More…]
Tag: GST
GST will be reviewed after Rahul becomes PM: Raj Babbar
With the assembly elections approaching soon, both Congress and BJP have intensified attacks on each other. Recently, Congress Vice-President criticised the multiple tax slabs in GST and called it a ‘flawed’ model. Now, Uttar Pradesh Congress chief Raj Babbar has echoed Rahul’s voice saying the Goods and Services Tax (GST)[Read More…]
GST reforms will benefit everyone: BJP
Uttar Pradesh deputy chief minister and BJP leader, Dinesh Sharma, on Sunday hailed PM Modi’s statement on ‘Diwali arriving early’ after the decisions taken by the Goods and Service Tax (GST) Council, citing that everybody will benefit from the tax reform. PM Modi has asserted that Diwali, the ‘festival of[Read More…]
PM Modi, Jaitley have put common people into trouble: Congress on GST council meet
While speaking about the GST on Saturday, the Congress asserted that the centre always rejected their plea to revise the tax reforms. The 22nd meeting of the GST Council was held in the national capital on Friday, which was chaired by Union finance minister, Arun Jaitley, to discuss the impact[Read More…]
Chartered Accountants get a massive GST push
Even as the economy continues to slump after each quarter, there is a particular set of professionals who are rolling in money. According to rough industry estimates, a major jump in revenue has been recorded by the top audit firms in the recent months. “In the last 3 months, the[Read More…]
Corruption does not exist in Centre anymore: Arun Jaitley
Union finance minister, Arun Jaitley, on Thursday said corruption does not exist in the Centre anymore, while applauding its proactiveness in implementing the GST, crackdown on excessive cash transactions, benami property, shell companies and so on. “Corruption in the central government has become a thing of the past. This is[Read More…]
GST impact: Hyundai announces price hike, others may follow suit
Hyundai India has declared a price hike owing to the recent change in the GST structure for cars and it would be effective from 11 September, 2017. A 2-5 per cent raise could be seen in the prices of Hyundai Elite i20, Verna, Elantra and Tucson. But, the Hyundai Grand[Read More…]
Electric cars in India: Present, Problems and Future
There were some hard to digest comments made by road transport and highways minister, Nitin Gadkari. We won’t get into the nitty-gritties of the matter but the simple idea put forth is that the Government is anti-fossil fuel powered cars – diesel or petrol. While the words used and the[Read More…]
GST is the biggest economic reform of India till now: PM Modi at BRICS
Prime Minister Narendra Modi on Monday told the BRICS nations that the Goods and Services Tax(GST) is India’s biggest economic reform till now. He was speaking at the BRICS Business Council during the ongoing BRICS summit in China. He emphasised on the importance of initiatives and programs initiated by his[Read More…]
Govt gets Rs 42,000 crore tax in first filing under GST regime so far
Nearly Rs 42,000 crore has already come in as taxes so far in the first monthly filing under the new Goods and Services Tax (GST) rule. The revenues are expected to increase further as the filing cycle closes this later this week. Reportedly, while about Rs 15,000 crore has come[Read More…]
GST and demonetisation will be part of NCERT textbooks from 2018
The National Council of Educational Research and Training (NCERT) on Thursday decided to incorporate content on GST and demonetisation in the reprint editions of economics, business studies, accountancy and political science books from 2018, as per the reports. “NCERT has decided to incorporate the contents related to GST and demonetisation[Read More…]
Tata Tiago prices slashed after GST
Though the Zest and the Bolt started Tata Motors’ revival, it tasted success in a long time with the Tiago hatchback. The Tiago, which sees a dip of as much as over Rs 50,000 post-GST, is Tata’s bread and butter model and currently retails between 4000-6000 units monthly. There’s a marginal drop in prices in the[Read More…]
Haryana: Plywood manufacturers to go on indefinite strike against GST
Soon after textile traders strike in Gujarat showcased agitation against GST, nearly 1,100 plywood units, including plyboard and peeling factories, across Haryana, have decided to go on an indefinite strike from Friday. Notably, Yamunanagar, one of Asia’s largest timber markets home to 1,000 units alone. Scores of plywood units in[Read More…]
GST is good for government, but bad for people, says Kapil Sibal
Taking an indirect jibe at GST being called as Good and Simple Tax by the Centre, the Congress on Saturday termed the Goods and Services Tax(GST) as good for government and bad for people. While addressing a press conference, former union minister and senior Congress leader, Kapil Sibal, pointed out[Read More…]
Govt dismisses reports that education will become expensive under GST
The government has dismissed the speculation that the education will become expensive under Goods and Services Tax (GST) on Friday. It has said that services provided by an educational institution to students, faculty and staff were exempted. “Such reports that education will become expensive under GST are completely unsubstantiated. In[Read More…]
Want to know GST? Pay money to government
Much hype has been created by innumerable of people as concepts of the newly-implemented Goods and Service Tax( GST) are unclear to them. In relation to the same, Ministry of Skill Development and Entrepreneurship has offered a GST Training programme to give an extensive training on the concept of the[Read More…]
Bengal’s traditional sweets feel the GST pinch; traders and buyers in confusion
GST roll-out has left the nation in confusion. There are mixed reactions about the implementation of GST, in fact, confusion prevails about how to tax various goods and services among retailers and customers. While traders in Gujarat called for an indefinite strike against the taxation, in Kolkata, many felt the[Read More…]
In PM Modi’s hometown, markets shut down as traders protest against GST
Against the implementation of good and service tax by the Centre, the textile traders’ agitation in Gujarat has lead to complete shutdown of trading centres as a mark of protest. The indefinite strike is against 5% GST levied on textiles. The traders continued with their protest even after police baton-charged[Read More…]
DU to include GST in the forthcoming academic sessions
The Delhi University to include the historic Goods and Service Tax (GST), as a part of their curriculum in selective academic courses. A groundbreaking initiative aiming towards economic reforms in the country, GST was implemented across the Nation on July 1. One of the biggest tax reform turned India, Asia’s[Read More…]
J&K clears resolution for implementation of GST amid protest
Jammu and Kashmir (J&K) assembly passed a resolution for implementing the Goods and Service Tax (GST) amidst protest by opposition parties on Wednesday. J&K Finance Minister Haseeb Drabu on Saturday had said that the state may clear the legislation on the indirect tax regime by 6 July. Traders in Srinagar[Read More…]
Finance Ministry slams fake reports stating churches, mosques are exempt from GST
As GST rolled out this month, rumours were doing rounds on social media stating that the churches and mosques have been exempted from GST. The Finance Ministry made it clear that they are encouraging no religious distinction under the Goods and Service Tax. The rumours which could strike a religious[Read More…]
GST impact: Ford India slashes vehicle prices by up to 4.5%
It has been a couple of days since Goods and Service Tax (GST) came into effect and we’ve seen automakers wasting no time to get their vehicle prices down to start luring customers to their showrooms. While we’ve seen Maruti, Audi, Jaguar, Land Rover and Toyota complete this activity on July 1, Ford India has now joined the list.[Read More…]
22 states abolish check posts after GST rollout
Just three days after the GST rollout, as many as 22 states have removed check posts. With the implementation of Goods and Services Tax GST, states such as Delhi, West Bengal and Maharashtra have abolished check-posts; while states, including Assam, Punjab, Himachal Pradesh, and some north-eastern states, are also in[Read More…]
GST Effect: Honda joins the party, drops prices by up to Rs 2.27 lakh
The Newly Launched Honda WR-V Gets A Cut Of Rs 96,000 Honda Cars India is the latest to pass on GST benefits to its customers after carmakers such as Maruti, Toyota, Audi and Jaguar Land Rover announced price cuts on July 1. The one nation one tax policy has proven to[Read More…]
Opposition must have an alternative agenda to the government: Nitish Kumar
Speaking at a press conference in Patna on Monday, Bihar Chief Minister, Nitish Kumar, said that the’ Mahagathbandhan government in Bihar is strong’. The JD(U) chief said that being the largest Opposition party, the Congress should set the Opposition’s agenda. “Opposition must have an alternative agenda to the government as[Read More…]