Articles tagged under: GST
January 22, 2019
Bhuj: A team of the preventive wing of central goods and services tax (CGST) commissionerate of Kutch district in Gandhidham have busted a racket involved in issuance of bogus/fake invoices with an objective to pass on and utilize ineligible Input Tax Credit fraudulently and evade payment of GST and its mastermind Gurukamal Singh was arrested and sent to jail today.
An officer of the comissionerate said that Gurukamal had issued such invoices worth around Rs 531 crores to pass on fraudul...Read More
January 10, 2019
New Delhi: Under the originally GST structure in July 2017,there was a provision that those with annual turnover of upto Rs. 20 lakh are considered within exemption. In North East and hill states the exemption limit was Rs. 10 lakh. J&K, Assam and some other states among hilly and North East category have amended laws and brought up the limit to Rs. 20 lakh. In today's meeting it was decided to continue this twin structure.And so, Rs. 20 lakh threshold has been doubled to Rs. 40 lakh. So if ...Read More
January 01, 2019
Gandhiniagar: In a new year gift to citizens, the Government of India has announced major reduction in the LPG Gas Cylinder. The rate of non - subsidised LPG cylinder has been cut by Rs 120.50 while the price of subsidised LPG cylinder has been cut by Rs 5.91.
In another good news, new GST rates are effective from today. This makes TV, monitor and 22 other items to get cheaper.The consumers will pay less for these items of common consumption as the incidence of Goods and Services Tax (GST) on...Read More
December 24, 2018
New Delhi: Finance Minister Arun Jaitley has published a facebook note on 18 months of GST. Jaitleyin his note said, the next priority will be to transfer cement into a lower slab. "All other building materials have already been transferred from 28% to 18% and 12%. The sun is setting on the 28% slab." Jaitley's note in full text is presented below:
Eighteen Months of the GST
The Goods and Services Tax was implemented w.e.f. 1st July, 2017. It hasn’t completed eighteen months of implemen...Read More
December 22, 2018
New Delhi:GST Council in the 31st meeting held on 22nd December, 2018 at New Delhi took following decisions relating to changes in GST rates, and clarification (on Goods). The decisions of the GST Council have been presented in this note for easy understanding. The same would be given effect to through Gazette notifications/ circulars which shall have force of law.
GST rate reduction on goods which were attracting GST rate of 28% :
28% to 18%
Pulleys, transmission sh...Read More
July 21, 2018
New Delhi: The GST Council in its 28th meeting held here today under the Chairmanship of Shri Piyush Goyal , Union Minister for Railways , Coal , Finance & Corporate Affairs took following decisions on GST Rate on Goods .
GST rates reduction on 28% items:
28% to 18%
Paints and varnishes (including enamels and lacquers)
Glaziers’ putty, grafting putty, resin cements
Refrigerators, freezers and other refrigerating or freezing equipment including water cooler, milk...Read More
July 01, 2018
New Delhi: On the first anniversary of the GST regime, Prime Minister Narendra Modi today hailed the tax as a tool that has brought growth, simplicity and transparency.
"It is boosting formalisation, enhancing productivity, furthering 'Ease of Doing Business', benefitting small and medium enterprises," the prime minister tweeted.
In his recent Mann Ki Baat radio address, Modi had described the Goods and Services Tax (GST) as a fine example of cooperative federalism and termed it as a "...Read More
June 11, 2018
Gandhinagar: Gujarat government has till now disbursed Rs 1200 crore refund as on today after implementation of Goods and Services Tax(GST) on 1st July last year.
The government statement said, there were 5,932 refund applications received after GST implementation of which 4,815 were cleared and refund was paid. So far 82% refund applications are cleared. Out of total applications received, 85% refund amount has been paid.
The government has organised refund fortnight to clear the pendi...Read More
May 07, 2018
Gandhinagar: Gujarat government today launched GST Saheli and Mukhyamantri Gramoday schemes here.
GST Saheli web portal www.gstsaheli.co.in has been created by Rural Development Commissionerate in English and Gujarati languages. The portal will help Sakhimandal, Milk producing groups, Seva cooperative groups, small, micro and medium scale industries for GST.
According to Chief Minister Vijay Rupani who launched this service, GST related services will be offered for micro and small indust...Read More
April 10, 2018
Gandhinagar: E-way bill for movement of goods within the state will be rolled out from April 15, starting with 5 states including Gujarat, UP and Kerala.
From April 1, the government had launched the electronic-way or e-way bill system for moving goods worth over Rs 50,000 from one state to another.
The same for intra, or within the state movement, will be rolled out from April 15, finance ministry said in a statement.
The five states which would form part of the first phase are Andhra...Read More
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