GST Ready India

GST Ready India’s Latest News and Updates

Job creation: Demonetisation, GST led to layoffs but there’s a good news too; here’s what data show

May 18, 2018

Coaching centres for entrance exams liable to 18% GST: AAR

Coaching centres providing tuition to prepare students for entrance examination are liable to pay 18 percent GST, according to the Authority for Advance Rulings (AAR).

An application was filed before the Maharashtra bench of the AAR to seek advance ruling on whether the services related to providing the coaching for entrance examination will come under the ambit of the Goods and Services Tax (GST). Click to read more

Govt extends deadline for filing April GSTR-3B by 2 days till May 22

The government has extended the due date for filing GST summary sales returns for April by two days till May 22.

An official statement said that certain technical issues are being faced by the taxpayers during the filing of GSTR-3B for April.

“In order to resolve the same, emergency maintenance is being carried out on the system. Therefore, in the interest of taxpayers it has been decided to extend the last date for filing of returns in GSTR-3B for the month of April by 2 days till May 22,” the statement said. Click to read more

Key to Mumbai Metro project turning cheaper is GST? Here is how

In a move that may lead to a considerable decline in Mumbai Metro project cost, the state government has asked for a rebate from the contractors handling the project following a change in tax rate under the goods and services tax (GST). Under the new indirect tax regime, the GST on construction cost has been reduced to 12% from 18% earlier.

Recently, during a meeting held between Mumbai Metropolitan Region Development Authority (MMRDA) — Government of Maharashtra body that is responsible for the infrastructure development of the Mumbai Metropolitan Region. Click to read more

Did GST boost State’s tax revenue? The jury is still out

Despite the State’s commercial taxes clocking a double digit growth in the previous financial year after a gap of four years, sections of the government are debating whether the introduction of the Goods and Services Tax (GST) has led to any substantial increase in revenue collections.

According to the Commercial Taxes department, the growth rate in revenue through GST-subsumed taxes was around 12.3%. With the GST launch on July 1, 2017, the revenue was Rs. 29,058 crore during July 2017-March 2018 against Rs. 25,881 crore for the corresponding period of 2016-2017. Click to read more

Job creation: Demonetisation, GST led to layoffs but there’s a good news too; here’s what data show

In recent months, a sharp debate has broken out over whether India is or isn’t creating new jobs. Supporters of the government cite studies, such as those based on Employees Provident Fund data, that show rising job growth. Critics point to household surveys that show jobs being shed in the past year, after the government shocked the economy by suddenly withdrawing most cash from circulation and then introducing a complex goods-and-services tax. Click to read more

Govt agencies failed to implement GST rules, say contractors

Kerala Government Contractor’s Association has alleged that government departments and agencies have failed to implement Goods and Services Tax (GST) rules.

Association State president Varghese Kanampally said here on Thursday that systems to provide the contract amount and GST as per invoices given by contractors had not been put in place in government offices.

Mr. Varghese said VAT rates were still being given in the tender schedules for various works. Click to read more

Aviation ministry seeks ATF under GST regime

The Civil Aviation Ministry is likely to approach the GST Council soon for bringing aviation turbine fuel (ATF) under the tax regime.

An indication to this effect was given by a senior official of an airline here following a meeting with Minister of State for Civil Aviation Jayant Sinha.

The meeting was attended by Air India CMD Pradeep Singh Kharola, Pawan Hans CMD B P Sharma, CEO of a private airline and the chief financial officers of other carriers. “We have given our suggestion to the ministry and the minister is likely to meet the GST Council soon to present our case,” the senior airline official said. Click to read more

Patanjali Ayurved hits GST roadblock: Sales growth may slow down in FY18

After growing at a breakneck pace for five years, Baba Ramdev’s Patanjali Ayurved has hit a major roadblock. During the financial year 2017-18, the group’s sales growth has slowed down considerably–- thanks to the massive transformational work following the implementation of the good and services tax (GST) regime in mid-2017. Click to read more

Mandi Tax can stay, says Law Ministry

GST subsumes 17 types of indirect taxes and 23 types of cesses levied by the Centre and the States, but not the Mandi Tax. The Law Ministry was responding to a recent query from the Union Finance Ministry.

Entry 66 of the State List under the Seventh Schedule of the Constitution says: “Fees in respect of any of the matters in this List, but not including fees taken in any court.” Click to read more

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