GST Ready India

GST Ready India’s Latest News and Updates

  • 16 Jan
    GST Council

    GST Council May Cut Rates On 70-80 Goods, Services, Streamline Returns Filing The GST Council is expected to revise rates of 70 to 80 items and services in a meeting scheduled for Thursday. The GST Council, headed by Finance Minister Arun Jaitley and having state finance ministers as members, is also expected to simplify the

  • 12 Jan
    GST India

    GST may be recast next week to make compliance easier India is set to unveil another revamp of the goods and services tax (GST) regime next week aimed at making compliance simpler. The GST Council meeting on January 18 is expected to take up changes in the definitions of terms such as supply and handicrafts

  • 10 Jan
    GST India Latest News

    GST, the acronym for Goods and Services Tax, has been hailed by many as the most far reaching change in India’s indirect tax code since independence. GST has been designed to act as an effective replacement of the previous highly fragmented indirect tax collection methodology. Now that it has been over 6 months since GST

  • 09 Jan

    Can Budget 2018 Set a Road Map For a Truly ‘Good and Simple Tax’? I don’t envy finance minister Arun Jaitley. The fiscal situation is looking rather grim, with the fiscal deficit target amount for the entire year having already been exceeded by 12 percentage points, with a full quarter of the fiscal year still

  • 08 Jan
    GST India

    Don't resort to knee-jerk reax: Assocham to govt on GST slip Industry body Assocham has cautioned the government against resorting to a "knee-jerk" reaction to deal with slippage in GST collections, and said those revenues would pick up once the glitches in the system are addressed. The Goods and Services Tax (GST) collections slipped for

  • 05 Jan
    GST Rate India

    GST raid on jewellers: Government begins crackdown as tax mop-up slips Suspecting large-scale evasion, the government has got into action as collection of Goods and Services Tax is declining. In the first case of its kind in Mumbai, and probably the biggest in the country, 90 parcels containing jewellery have been confiscated by the GST

  • 04 Jan
    Impact of GST on IT Industry

    Government notifies 1 per cent GST for manufacturers under composition scheme The government has notified lower 1 per cent GST rates for manufacturers who have opted for composition scheme as well as easier norms for traders opting for it. The finance ministry has notified the changes decided by the GST Council, chaired by Union Finance

  • 01 Jan
    Goods and Services Tax

    Government relaxes norms for rectification of returns under GST The Finance Ministry has permitted businesses to rectify mistakes in their monthly returns - GSTR-3B - and adjust tax liability, a move that will help them file correct returns without fear of penalty. This relaxation will give an opportunity to businesses to claim tax credit correctly

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