GST Ready India

GST Ready India’s Latest News and Updates

GST E-Way Bill Explained In 10 Points

Apr 02, 2018

Awaiting clarity: GST areas that the government needs to talk about

Fiscal year 2017-18 ended after the tumultuous implementation of the Goods and Services Tax (GST), many provisions of which are still being implemented. But several systems, critical to how consumer packaged goods firms operate in India, are yet to be firmed up. Here’s a look at three major areas still await clarity from the government. Click to read more

CBEC sanctions GST refund claims worth Rs 12,700 crore

The government has sanctioned GST refunds worth about Rs 12,700 crore or 80 per cent of the eligible claims of exporters, an official said today.

The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in filling up refund claim forms and correct errors. Click to read more

GST refunds: CBEC sanctions claims of Rs 12,700 cr through facilitation camps

GST refund claims: The government has sanctioned GST refunds worth about Rs 12,700 crore or 80 per cent of the eligible claims of exporters, an official said today. The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in filling up refund claim forms and correct errors. “IGST refund claims worth Rs 8,600 crore till January 31 were lying with the CBEC. Of this, Rs 7,700 crore worth claims have been sanctioned so far,” a senior official told PTI. Click to read more

CBIC Sanctions Rs. 12,700 Crore GST Refund Claims

The government has sanctioned GST refunds worth about Rs. 12,700 crore or 80 per cent of the eligible claims of exporters, an official said on Sunday. The Central Board of Indirect Taxes and Customs (Erstwhile CBEC, Central Board of Excise and Customs) had organised refund facilitation camps in field offices between March 15 and 31 to assist exporters in filling up refund claim forms and correct errors. Click to read more

GST E-Way Bill Explained In 10 Points

E-Way (Electronic Way) bill is a document required to be carried by a person in charge of the conveyance carrying any consignment of goods of value exceeding Rs. 50,000. This has been mandated by the government in terms of Section 68 of the Goods and Services Tax (GST) Act. An E-Way bill is generated through the GST Common Portal for e-Way bill system – ewaybill.nic.in – by registered users or transporters who cause movement of goods of consignment. The e-way bill came into effect on April 1, 2018. Click to read more

Maharashtra sees 26 per cent revenue jump after GST kicks in

MAHARASHTRA HAS recorded a 26 per cent jump in revenue collection from Goods and Services Tax this year. The state received Rs1.14 lakh crore in revenue from taxes, according to data from the GST department. Of the total revenue, 31 per cent was collected as Value Added Tax (VAT) between April and July, before the GST came into existence. It was the time when dealers were confused and gearing up for the new tax regime. Click to read more

Govt keeping close eye on oil prices: Dharmendra Pradhan

With petrol and diesel prices touching multi-year highs, oil minister Dharmendra Pradhan on Monday said the government is keeping a close eye on international prices but said there is no going back on free market pricing.

He said consumers will benefit if petrol and diesel are brought under Goods and Services Tax (GST) regime at the earliest.

Petrol price on Monday hit a four-year high of Rs73.83 a litre, while diesel rates touched an all-time high of Rs64.69 in the national capital on rising international oil rates. Click to read more

Government sanctions Rs 127 billion of GST refund claims

The government has sanctioned GST refunds worth about Rs 127 billion or 80 per cent of the eligible claims of exporters, an official said on Sunday.

The Central Board of Excise and Customs (CBEC) had organised refund facilitation camps in field offices between March 15-31 to assist exporters in filling up refund claim forms and correct errors. Click to read more

IRDAI asks reinsurers to pass on GST benefit

The Insurance Regulatory and Development Authority of India (IRDAI) has asked insurers to duly pass on the benefit of Goods and Services Tax (GST) to stakeholders.

The GST Council, in January, had exempted reinsurance schemes from the purview of GST on the condition that the benefit reduction in premium on such insurance schemes must be passed on to the beneficiaries and the State and Central exchequers. Click to read more

E-way bill rollout successful; no glitch so far, says government

The government on Monday said the re-introduction of the e-way bill system for GST has been smooth with no technical glitches.

The GST provision requiring transporters to carry an electronic waybill or e-way bill when moving goods between states was implemented from yesterday to check rampant tax evasion and boost revenues. Click to read more

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