GST Ready India

GST Ready India’s Latest News and Updates

No GST on school students' hostel fees, says Centre, rubbishing reports

Jul 14, 2017

GST: Government bets big on tech to ensure e-way bill does not bring back inspector raj

The proposed e-way bill for moving goods within the country would rely heavily on technology, employing RFID chips and QR codes, to ensure that monitoring of goods movement does not bring back inspector raj and slow down goods traffic on highways, officials said.

After the launch of the goods and services tax (GST) on July 1, the movement of commercial goods had got speeded up as states abolished entry check posts. Click to read more

GST is no game changer for farmers, yet

In 1991, India saw an LPG blast — liberalisation, privatisation and globalisation that changed the face of the country permanently. After 25 years from 1991, a fortnight ago, we experienced another revolutionary reform — GST with the promise of “One country-One tax”. Like any other person, I started reading GST from the view point of how it affects me and our work with small farmers on providing climate-smart farming solutions such as greenhouses. It appears to me that the GST is good for our farmers. Click to read more

No GST on school students’ hostel fees, says Centre, rubbishing reports

The introduction of the Goods and Services Tax regime will not lead to a rise in boarding and lodging costs for parents of under-Class X students staying in hostels.

The Centre on Thursday issued a clarification on the issue after some reports claimed that 18 per cent GST will be levied on the annual fees charged by schools/hostels for lodging.

The government, however, has said that lodging and boarding services in hostels operated by educational institutions from the pre-school to higher secondary level will be exempted from GST. Click to read more

GST fee’ spells trouble for traffic cops

Five personnel suspended for charging ‘entry fee’ from vehicles after traders meet traffic police chief

Five traffic police personnel have been suspended for allegedly breaching their domain and misusing their powers by charging an “entry free” from truckers, taking advantage of the confusion over Goods and Services Tax (GST) rules. Click to read more

Haryana plywood units to go on indefinite strike against GST

Intensifying their stir against the Goods and Services Tax (GST) , nearly 1,100 plywood units, including plyboard and peeling factories, across the state have decided to go on an indefinite strike from Friday.

Plywood manufacturers from the industrial town of Yamunanagar, which is home to over 1,000 units alone and considered one of Asia’s largest timber markets. Scores of plywood units in Kaithal, Rohtak and the NCR region are also going to join the indefinite strike. Click to read more

With smooth rollout of GST, volumes will start coming back: MCX

In an interview to CNBC-TV18, Mrugank M Paranjape, MD & CEO of Multi Commodity Exchange of India spoke about the first quarter results and outlook going forward.

“We were engaging with everybody in the market to see why we aren’t seeing the growth that we were hoping to see. The general feedback that we had was stocking levels were low, people were waiting for goods and services tax (GST) implementation and once GST went through, we would see an uptick. First ten days of July were heartening for us. Click to read more

Bajaj Corp’s Q1 result: GST impacts volume offtake; fund-raising next key event

Bajaj Corporation, a leading manufacturer in the light hair oil segment (61 percent of market share), reported its first quarter results on Wednesday. Its conference call threw up interesting insights into how FMCG, of which Bajaj was the first to announce results this fiscal year, would pan out. While the numbers were unimpressive, its plan to raise Rs 1,000 crore and seek shareholders’ approval on July 18 is the key event for investors to look at. Click to read more

 

GST pushes century-old sweet shops to adopt corp culture

Traditional confectioners of Kolkata that have resisted change for over a century are at long last being forced to corporatise following the introduction of GST.

Spared of any taxes courtesy the cottage industry status they enjoyed, most sweet shops carried out business the same way for decades. There was no concept of handing any bills or receipts to customers. Transactions happened only in cash, even post demonetisation. Click to read more

GST: Delhi HC seeks clarification on reverse charge mechanism for lawyers, law firms

The Delhi high court on Thursday sought a clarification from the central and state governments on whether all legal services provided by legal practitioners and firms will be governed by the reverse charge mechanism under the goods and services tax (GST) regime.

The reverse charge mechanism puts the onus for payment of tax on the recipient of services, as opposed to the supplier. Click to read more

Tags: Benefits of GST, GST, GST 2017, GST Bill, GST Council, GST Impact, GST Implementation, GST India, GST Latest News, GST Law, GST Model, GST News, GST Rates, GST Reform, GST Rules, GST Tax, Impact of GST

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