GST Ready India

GST Ready India’s Latest News and Updates

GST refunds worth Rs 22,000 cr pending with govt: FIEO

Oct 11, 2018

GST model ‘most complex’ in the world, needs massive fixing: Punjab FM Manpreet Singh Badal

The current Goods and Services Tax model implemented by the NDA government was the ‘most complex’ in the world and has to be further simplified, Punjab Finance Minister Manpreet Singh Badal has said.

Manpreet said though he was not against the GST, it was “poorly designed” and needed massive fixing.

“There are 161 countries where GST has become law. But the way India designed its GST, I would actually give it 2 out of 10. Click to read more

GST refunds worth Rs 22,000 cr pending with govt: FIEO

As much as Rs 22,000 crore GST refund is pending with the government, creating liquidity problem for exporters and impacting overseas shipments, FIEO said.

Federation of Indian Export Organisations (FIEO) President Ganesh Gupta said the delay in refund is mainly impacting small exporters who provide jobs in labour-intensive sectors.

“Refunds of about Rs 7,000 crore are pending on account of IGST (integrated GST) and about Rs 15,000 crore ITC (input tax credit) as of September 30. This is impacting small exporters,” Gupta told reporters. Click to read more

Mallikarjun Kharge cites GST, asks CAG to hold govt accountable

Senior Congress leader and chairman of the Parliament’s Public Accounts Committee (PAC) Mallikarjun Kharge on Wednesday asked the Comptroller and Auditor General (CAG) to hold accountable the government on decisions that “cause severe economic distress” such as demonetisation or goods and services tax (GST) or defence purchases.

Kharge said outcome-based audit of government schemes is required since governments shift goalposts when failures are apparent. In his address to the 29th conference of accountant generals (AGs) at the CAG headquarters here, Kharge said: Click to read more

BIZ-GST-PUNJAB FINANCE MINISTER

The current Goods and Services Tax model implemented by the NDA government was the ‘most complex’ in the world and has to be further simplified, Punjab Finance Minister Manpreet Singh Badal has said.

Manpreet said though he was not against the GST, it was “poorly designed” and needed massive fixing.

“There are 161 countries where GST has become law. But the way India designed its GST, I would actually give it 2 out of 10. I am part of the GST Council and ever since the rates were discussed, my own feeling is the model which India is following is actually the most complex in the world,” Manpreet told here Wednesday. Click to read more

Rs 22,000 cr GST refunds pending with govt: FIEO

As much as Rs 22,000 crore GST refund is pending with the government, creating liquidity problem for exporters and impacting overseas shipments, FIEO said on Wednesday.

Federation of Indian Export Organisations (FIEO) president Ganesh Gupta said the delay in refund is mainly impacting small exporters who provide jobs in labour-intensive sectors.

“Refunds of about Rs 7,000 crore are pending on account of IGST and about Rs 15,000 crore ITC  as of September 30. This is impacting small exporters,” Gupta told reporters here. Click to read more

Exam for confirmation of GST practitioners enrollment; last date extended

The National Academy of Customs, Indirect Taxes and Narcotics (NACIN) is conducting an examination for confirmation of enrollment of Goods and Services Tax practitioners, enrolled on the GST Network under sub-rule (2) of Rule 83 and covered by clause (b) of sub-rule (1) of Rule 83 of Central Goods and Service Tax Rules, 2017. The last date of registration for the exam has now been extended till October 15 from earlier October 10.

These practitioners are required to pass the examination before December 31, this year. The examination will be held on October 31, 2018 from 1100 hrs to 1330 hrs at designated examination centres across the country. Click to read more

Manpreet Singh Badal calls for simplification of GST in India

The current Goods and Services Tax model implemented by the NDA government was the ‘most complex’ in the world and has to be further simplified, Punjab Finance Minister Manpreet Singh Badal has said.

Manpreet said though he was not against the GST, it was “poorly designed” and needed massive fixing.

“There are 161 countries where GST has become law. But the way India designed its GST, I would actually give it 2 out of 10. I am part of the GST Council and ever since the rates were discussed, my own feeling is the model which India is following is actually the most complex in the world,” Manpreet told PTI here Wednesday. Click to read more

Experts urge GoM, GST council to increase cess on tobacco products

Experts said global experience has shown that such a tax increase will decrease tobacco use and expand government revenue.

Imposing additional cess on all tobacco products, including bidis, will be a huge win for public health and revenue generation, Bhavna B Mukhopadhyay, chief executive of Voluntary Health Association of India, said.

“This move will provide much-needed relief to the people of Kerala while motivating millions of tobacco users to quit and preventing youngsters from initiating tobacco use,” Mukhopadhyay said. Click to read more

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