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India pitches GST to make a strong case for jump in World Bank’s Doing Business rankings

May 11, 2018

India pitches GST to make a strong case for jump in World Bank’s Doing Business rankings

The government is pitching the new indirect tax system—Goods and Services Tax (GST)—as one of the vehicles for raising India’s rank in the World Bank’s Doing Business Report, 2019, which is expected to be released by the end of the year.

India leapfrogged into the 100th rank in the World Bank’s Ease of Doing Business rankings for 2016, jumping 30 notches from a year ago, in an endorsement of the string of reforms implemented by the Narendra Modi government. Click to read more

Karnataka election: GST and demonetisation are Narendra Modi’s forgotten heroes in high-octane poll campaign

Two of the Central government’s biggest economic policies — demonetisation and Goods and Services Tax (GST) — have turned out to be forgotten heroes in Prime Minister Narendra Modi’s high-octane Karnataka election campaign that has just ended. Except on one notable instance, these two barely found any major place in Modi’s speeches this time around.

This is a bit of surprise because ever since the demonetisation of Rs 500 and Rs 1,000 notes in November 2016 and GST from 1 July, 2017,  the BJP — and Modi, in particular — has flagged these two as major reform achievements in every poll campaigns — both big and small — including the last major state election in Gujarat. Click to read more

Expedite GST practitioners’ registration: CBIC chief

The Goods and Services Tax (GST) came into effect in the country nearly a year ago. But several indirect tax experts find that they still haven’t been approved as GST practitioners, despite having applied for registration months ago via the GST portal.

In this backdrop, the chairperson of the Central Board of Indirect Taxes and Customs (CBIC — earlier known as CBEC), Vanaja Sarna, recently wrote to officials to expedite the process. Her letter dated May 4 says. Click to read more

Banks under taxman scanner for GST refund on ATM transactions

The indirect tax department’s investigation arm is scrutinising the GST credit availed by banks on taxes paid by their ATM vendors and could soon ask banks to cut the credit availed by them, two people with direct knowledge of the matter said.

The taxmen are examining whether banks are eligible to avail 100% of Goods & Services Tax (GST) credit on services provided by vendors such as ATM withdrawal when a majority of such transactions are not charged to consumers. Click to read more

GST likely on banks ‘free’ services as they are actually ‘charging’ clients

The so-called ‘free services’ offered by banks to customers are liable for goods and services tax (GST), officials believe, even as notices sent to lenders for taxing these services under the older regime are likely to be withdrawn. According to officials, banks are not offering ‘free services’ but actually charging customers by asking them to maintain a minimum account balance. “In business nothing is free. Click to read more

GST On Electric Car Batteries Could Come Down Drastically

The Ministry Of Road Transport has brought about a whole range of proposals to increase the adoption of electric vehicles in India. These include green number plates for electric vehicles, the proposal of scrapping permits to run commercial electric vehicles, allowing youth between the ages of 16-18 to ride electric scooters without a license and preferential parking for electric cars in certain areas. Another proposal that will help boost the adoption of electric cars by lowering cost of the batteries that go into the electric cars. Click to read more

Issue notices with total tax discrepancy, include central and state GST

The Gujarat commissionerate of goods and service tax (GST) has instructed its officers to include central GST, state GST, integrated GST and cesses while issuing notices in cases of discrepancies. This comes after some notices were issued to taxpayers by the state GST department even in cases of minuscule tax discrepancies.

A statement from the state GST department said the commissionerate has started a drive to ensure that taxpayers deposit CGST, SGST, IGST and cesses in central and state treasuries according to the liabilities reflected in their returns. Click to read more

Tax alert: GST applicable on hotel, restaurant services provided to SEZ units, says AAR

Hotel or restaurant services provided to SEZ developers or units will not be treated as ‘zero-rated’ supplies and hence will be taxable under the Goods and Services Tax (GST) regime, the Authority for Advance Ruling (AAR) has said.

In an application filed before the Karnataka bench of the AAR, the applicant had sought to clarify whether hotel accommodation and restaurant services provided by them, within the premises of the hotel, to the employees and guests of SEZ units be treated as supply of goods and services. Click to read more

Modi’s next push: Cashback up to Rs 100 on all digital payment on anvil; GST committee to discuss

In a boost to India’s digital payments ecosystem, which got a kickstart after demonetisation but then arguably started languishing with cash making its way back, the government is considering offering cashback of up to Rs 100 on applicable GST for the cheque and digital payments in all B2C transactions. The matter was discussed at the GST Council meeting last Friday following which it was referred to a 5-member committee led by Sushil Modi. The committee will discuss the proposal today. Click to read more

First Appellate Authority under Delhi GST Act Notified

In a recent movement, the Delhi Government has notified the first appellate authority under Delhi Goods and Services Tax Act wherein the Commissioner (State Tax) authorized all the Additional Commissioners to perform the functions of Appellate Authority to hear appeals under section 107 of the Delhi GST. The Government also notified the proper officers for performing functions relating to detention and confiscation of vehicles during transit under the Delhi GST Act. Click to read more

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