GST Ready India

GST Ready India’s Latest News and Updates

Pradhan for inclusion of petroleum products in GST ambit

Apr 06, 2018

Railway catering services in trains, stations to attract 5% GST

The finance ministry today said a 5 per cent GST will be levied on food and drinks supplied by the Indian Railways or IRCTC in trains, platforms or stations.

The Finance Ministry has written to the Railway Board on March 31 about the 5 per cent rate to remove any doubt or uncertainty in the matter.

This would bring about uniformity in the rate of GST applicable to supply of food and drinks made available in trains, platforms or stations. Click to read more

Railway catering services in trains, stations to attract 5% GST, finance ministry clarifies

The finance ministry on Friday said a 5 percent GST will be levied on food and drinks supplied by the Indian Railways or IRCTC in trains, platforms or stations.

The Finance Ministry has written to the Railway Board on 31 March about the 5 percent rate to remove any doubt or uncertainty in the matter.

This would bring about uniformity in the rate of GST applicable to supply of food and drinks made available in trains, platforms or stations. Click to read more

GST on langar: LGPC demands rollback

The Lucknow Gurudwara Pabandhak Committee (LGPC) today made a demand for immediate withdrawal of GST on ‘langar’ — community meal — services offered by the all Sikh shrines across the country, including the Golden Temple at Amritsar.

Earlier, the Shiromani Gurudwara Parbandhak Committee (SGPC), which manages all gurdwaras, and Union Food Processing Minister Harsimrat Kaur Badal has also urged the Centre to exempt the free kitchens at the Golden Temple and other Sikh shrines from the purview of the Goods and Services Tax (GST). Click to read more

AIOCD seeks GST guidelines on return of expired and non resaleable drugs

The All India Organisation of Chemists and Druggists Association (AIOCD), a representative body of 8.5 lakh chemists in the country, has urged the GST Council to come out with a clear policy framework on date expired, damaged and non resaleable drugs in Goods and Services Tax (GST).

AIOCD in a letter to Sushil Kumar Modi, deputy chairman, GST Council on March 31, 2018 highlighted difficulties faced in relation to expired goods of transitional stocks i.e. sold prior to June 30, 2017. Click to read more

New Income Tax Return forms notified: Salary breakup, GST ID to be furnished

The new Income Tax Return (ITR) forms for the assessment year 2018-19 were notified on Thursday by the Central Board of Direct Taxes that mandated salaried class assessees to provide their salary breakup and businessmen their GST number and turnover.

The policy-making body of the tax department said some fields have been “rationalised” in the latest forms and that there is no change in the manner of filing the ITRs as compared to last year. Click to read more

Union Minister Dharmendra Pradhan for inclusion of petroleum products in GST ambit

Amid an uproar over higher fuel rates, Union Petroleum Minister Dharmendra Pradhan today said the inclusion of petroleum products under the ambit of the Goods and Services Tax (GST) will bring the products under a rational tax mechanism. Speaking to reporters at the Raipur airport this evening, he said the prices of petrol and diesel are linked with the international market and they fluctuate as per the global prices. Click to read more

Gujarat government collected Rs 59k as GST, VAT in 2017-18

Gujarat government collected Rs 58,600 crore in form of Goods and Services Tax (GST) and Value Added Tax (VAT), according to provisional figures for fiscal 2017-18.

This is almost 18% rise of revenue collection of Rs49,800 crore in the previous fiscal. However, much to the relief of taxmen, the state turned out to be a net gainer of tax for the inter-state trade of goods and services. The net gain for Integrated GST (IGST) for inter-state trade was Rs3,000 crore. Click to read more

Govt notifies new ITR forms; seeks salary breakup, GST number: 10 points

The new Income Tax Return (ITR) forms for the assessment year 2018-19 were notified on Thursday by the Central Board of Direct Taxes. The new ITR forms mandate salaried class assessees to provide their salary breakup and businessmen their GST number and turnover.

The policy-making body of the tax department said some fields have been “rationalised” in the latest forms and that there is no change in the manner of filing the ITRs as compared to last year. Click to read more

Dharmendra Pradhan for inclusion of petroleum products under GST ambit; says state govts making up their mind on decision

Amid an uproar over higher fuel rates, Union Petroleum Minister Dharmendra Pradhan on Thursday said the inclusion of petroleum products under the ambit of the Goods and Services Tax (GST) will bring the products under a rational tax mechanism.

Speaking to reporters at the Raipur airport on Thursday evening, he said the prices of petrol and diesel are linked with the international market and they fluctuate as per the global prices. Click to read more

Pradhan for inclusion of petroleum products in GST ambit

Amid an uproar over higher fuel rates, Union Petroleum Minister Dharmendra Pradhan today said the inclusion of petroleum products under the ambit of the Goods and Services Tax (GST) will bring the products under a rational tax mechanism.

Speaking to reporters at the Raipur airport this evening, he said the prices of petrol and diesel are linked with the international market and they fluctuate as per the global prices.

Whenever there is hike in crude petroleum rates in the international market, it leads to an increase in fuel prices in the Indian market, Pradhan said while replying to a query on taxes and cess imposed on petrol and diesel. Click to read more

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