GST Ready India

GST Ready India’s Latest News and Updates

After GST, fashion foreign brands targeting India expansion

Mar 21, 2018

Punjab waives its share in GST on Golden Temple ‘langar’; asks Centre to follow suit

Punjab government has decided to waive its share of the GST imposed on purchases made for ‘langar’ (community kitchen) at the Golden Temple in Amritsar, chief minister Amarinder Singh told the state Assembly on Wednesday.

Following the announcement, the state government moved a resolution urging the Centre and the GST Council to completely waive GST on langar items at Golden Temple which was adopted unanimously. Click to read more

Tea exporters worried over delayed refund of GST claims

It is not just non-refund of GST amount but the paper work and documentation that is putting the tea traders under pressure. We are in a spot. At this juncture, the situation looks grave,” a leading tea exporter told BusinessLine, voicing concern over the mounting claims week after week.

The GST refunds, due to the members of the South India Tea Exporters Association (SITEA) is estimated at over ₹50 crore, as on date. Click to read more

Govt bats for e-wallet to address GST refund delays as MSME exporters raise alarm

Owing to delays in refund of taxes under GST regime, exporters including the Micro, Small and Medium Enterprises (MSMEs) have been facing challenges, in order to deal with this issue, Commerce and Industry Minister Suresh Prabhu said introduction of e-wallet mechanism will effectively address the concern.

Prabhu said that secretaries in the commerce and finance ministries are taking all possible measures on this matter. Click to read more

FUND-STARVED ARMY SADDLED WITH RS 5K-CR GST

Even as the Army is battling with critical shortage of ammunition, arms, assault rifles, battle tanks and bulletproof jackets and inadequate Budget to tide over these issues, the Government has saddled them with an additional burden of Rs 5,000 crore in the form of Goods and Services Tax (GST). There is no provision in the 2018-19 allocations to fill this gap. Click to read more

Post GST: Year-end precautions and compliances

This march ending is going to be very crucial because of changeover from old taxation system to GST regime. Apart from the normal year end practice few additional things will have to be kept in mind while filing the last returns and closing books of accounts.

Refund of deposit: As all VAT registered assessees have migrated to GST, ensure that you claim the refund of security deposit of Rs 25,000 paid at the time of taking voluntary registration under Maharashtra Value Added Tax. Click to read more

After GST, fashion foreign brands targeting India expansion

Exclusive European and US brands have extended their business in many Indian metros. The young and aspirational crowd, the classic middle-aged bunch thronging the freshly smelling new stores with enthusiasm have helped lure these brands Eastward. Whoever said GST has been a spirt damper should check out a few stores like Levis, US Polo Association, Charles & Keith, H&M, Zara, Mango and Uniqlo, the latest international entrants in the growing apparel retail industry in India. And each of these brands is working towards changing the social fabric of the country with their retail experience. Click to read more

Capt Amarinder Singh Announces Waiver Of State Govt’s Share In Langar Gst At Darbar Sahib, Durgiana & Bhagwan Valmiki Tirath Sthal

Punjab Chief Minister Captain Amarinder Singh on Wednesday announced waiver of the state government’s 50% share in the GST on the Langar at the Darbar Sahib, even as the Vidhan Sabha passed a unanimous resolution to seek total waiver from the Centre.The Chief Minister also announced similar waiver on GST on Langar/Prasad for Durgiana Mandir and Bhagwan Valmiki Tirath Sthal, while directing officials of the concerned department to work out modalities for similar waiver at revered religious shrines of other communities.Intervening in a discussion on the issue, Captain Amarinder Singh said his government will not take its share of the GST on the Langar items but would refund the same to the Darbar Sahib. Click to read more

Spooked by scrutiny, Valley traders switch to cash deals

In the last about six months witnessing the introduction of Goods and Services Tax (GST), cash transactions have become the traders’ preferred choice in Kashmir over cheques or similarly noticeable options.

Farhat Abbas, Business Unit Head, J&K Bank told The Kashmir Monitor that from past six months, there has been about 25 percent decrease in the cash-flow. Click to read more

Deteriorating health of India’s labour-intensive sectors

India’s labour-intensive industries are languishing. Not only are exports of these industries in the doldrums, industrial production data also shows tepid growth in these sectors.

What’s more, imports of labour-intensive products are increasing. These trends could have a severe impact on employment. Click to read more

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