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GST in India

November 14, 2017
New GST Tax Rates-2017

The 23rd GST Council Meeting was held on Friday, 10 November 2017, and the council has decided to hand the taxpayers of the country a big bonanza. The GST on about 200 items was slashed; 178 of these were moved from the top slab attracting 28 percent tax to the lower tax bracket that attracts 18 percent. This leaves only 50 (of the original list of 228 items) in the top tax bracket now. Consumers [...]Read More

November 7, 2017

After about 17 years in the planning stage and after months of deliberation and negotiation with state governments the NDA led central government finally implemented the Goods and Services Tax (GST) on 1 July, 2017. Many hailed it as the greatest tax reform of independent India. The GST is a consolidated tax that replaces the various taxes previously charged on various goods and services. The VAT (Value Added Tax), service tax, entertainment tax, central excise [...]Read More

November 6, 2017

On July 1, the Goods and Services Tax was introduced by the government of India. Referred to by its short form GST, the tax has replaced the various taxes that are levied by the state as well as the central government. With GST, the process has been simplified as the consumers just have to pay one tax instead of many. In October, the Goods and Services Tax Council extended the deadline for filling the GSTR-2 [...]Read More

September 12, 2017
Revised GST Rates

Goods and Services Tax (GST) Council has, following its 21st meeting, effected some changes to the present GST (goods and services tax) structure in India. The meeting was held on 9th September 2017 at Hyderabad. Incidentally this happened to be the second review meeting following the rollout of GST. It has upped the cess applicable for items such as motor vehicles. The cess on mid-sized cars has been increased by 2%, and for large cars [...]Read More

July 18, 2017
roadblocks to gst

It has been more than two weeks since the goods and services tax (GST) has been rolled out and yet people from all sectors of the economy are facing teething problems day in and day out. Right now, confusion over customs norms has meant that exports that are worth millions of dollars are lying in the factories. The government has attempted to come forward and tried to resolve the issues. It has already issued some [...]Read More

July 15, 2017
How to Register for GST?

The steps to get registered for GST (goods and services tax) are quite simple. First of all you need to log on to the online portal of GST – gstn.org – and create a log in ID over there. After that you need to fill the form GST-REG-01 or Part 1 of the registration form. Here you would need to fill out details such as PAN (permanent account number), e-mail address, and mobile number. Your [...]Read More

July 4, 2017
cheaper and costlier Items after gst

India’s $2 trillion economy and 1.3 billion people will now be unified into one of the world’s largest common market under the Good and Services Tax regime, which was rolled out across the country on 1 July, 2017, in place of all other indirect taxes. As consumers we need to be aware of GST, and how this tax is going to affect the cost of living of the common man of India. Here is a [...]Read More

July 1, 2017

India heralded the start of July 2017 with a new tryst with destiny. At midnight, the government of India rolled out the long awaited Goods and Services Tax (GST). The GST shall now replace a number of direct and indirect taxes and has been lauded as one of the greatest tax reforms of independent India. The GST comes after ironing out differences between the centre and the state governments. It is a uniform tax that [...]Read More

June 27, 2017
gst impact on automobile industry

  The much-awaited Goods and Service Tax (GST) will get rolling from July 1, 2017.  GST will impact various sectors and industries of the country, some in a positive way and some others in a negative way. One sector which has the possibility of a having a very positive impact is the automobile sector primarily because of the efficiency and the removal of cascading associated with GST. Let us discuss in details how GST will impact [...]Read More

June 7, 2017
Enrollment in GST In West Bengal

According to a report stated by Bijay Kumar, Principal Commissioner, Service Tax of Kolkata Commissionerate, the state of West Bengal has achieved an impressive enrollment of 91% (supposedly the highest) in Goods and Service Tax (GST) through the Central Board of Excise and Customs (CBEC). According to the reports, the state has shown an impressive 86.6% in VAT migration as per the data available with CII. The data was presented by Mr. Kumar during the [...]Read More

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