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Showing posts with label GST. Show all posts
Showing posts with label GST. Show all posts

Sunday, 17 December 2017

E-way bill: GST Council CAIT demands deferring of e-way Bill from February to April 1

E-way bill: GST Council CAIT demands deferring of e-way Bill from February to April 1

E-way bill: GST Council CAIT demands deferring of e-way Bill from February to April 1 Starting February 1, 2018, all interstate movement of goods will be tracked with the introduction of the e-way bill system under the Goods and Services Tax regime, the GST Council decided at its 24th meeting on Saturday.

E-way bill: GST Council CAIT demands deferring of e-way Bill from February to April 1 


The nationwide e-way bill system will be rolled out on a trial basis from January 16, allowing traders and transporters to voluntarily test it out for a fortnight before it becomes compulsory. As for intra-state movement of goods, States have been given time till June 1, 2018, to implement the e-way bill system, so a fully integrated tracking system for all taxable goods can be expected only then.

The Council’s decisions at Saturday’s meeting, held via video-conference, assumes significance in the light of some State finance ministers expressing concerns about revenue shortfalls under the new indirect tax system.

Pressing intervention

After healthy collections in the first three months, tax receipts in October had dipped by about 10% compared with September. Finance Minister Arun Jaitley had said on Thursday that the introduction of the e-way bill system would help prop up revenue collections, hinting it would enable the government to track tax evasion far better. “There are future stages… GST invoice matching, e-way bills… now that’s going to really make sure that evasion becomes all the more difficult,” Mr. Jaitley had said. “The Council has already taken some decision with regard to some time frame for the e-way bills itself. That itself will help in bumping up collections somewhat,” he said at the time.

“Till such time as National e-way bill is ready, the States were authorised to continue their own separate e-way bill systems,” the government said in a statement. “However, it was represented by the trade and transporters that this is causing undue hardship in interstate movement of goods and therefore, bringing in an early all India system of e-way bill has become a necessity,” it said in the statement on the GST Council’s decision.
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E-way bill: GST Council CAIT demands deferring of e-way Bill from February to April 1 

Under the Goods and Services Tax (GST) regime, the waybill is replaced by an e-way bill which aims at mitigating the problems caused by waybill compliance.
E-way bill is an electronic way bill for movement of goods which can be generated on the GSTN portal. Movement of goods of more than Rs 50,000 in value cannot be done by a registered person without an e-way bill.

When an e-way bill is generated, a unique e-way bill number (EBN) is allocated and is available to the supplier, recipient, and the transporter.

The 24th meeting of the GST Council, held on Saturday through video conferencing under the chairmanship of Finance Minister Arun Jaitley, discussed the implementation of the e-way bill system in the country after reviewing readiness of hardware and software for its launch, the statement said.


Friday, 24 November 2017

GST na 12 ane 18 takana slebne bhelavi devaashe: Main TAX adviser

GST na 12 ane 18 takana slebne bhelavi devaashe: Main TAX adviser

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Friday, 10 November 2017

GST Rate On Daily Use Items Cut To 18% From Highest Slab Of 28%

GST Rate On Daily Use Items Cut To 18% From Highest Slab Of 28%

गुवाहाटी में चल रही GST काउंसिल की बैठक में कई बड़े फैसले लिए गए हैं. शुक्रवार को हुई इस बैठक में फैसला हुआ है कि अब 28% स्लैब में कुल 50 ही प्रोडक्ट रहेंगे. पहले 28 फीसदी स्लैब में कुल 227 वस्तुएं थीं.

जीएसटी काउंसिल ने शेविंग क्रीम, टूथपेस्ट, शैंपू, चॉकलेट, मार्बल आदि को 28 फीसदी टैक्स की स्लैब से हटा दिया है. अब सिर्फ 50 लग्जरी प्रोडक्ट ही 28 फीसदी की श्रेणी में रहेंगे.

गौरतलब है कि ​परिषद की दो दिवसीय बैठक गुरुवार को शुरू हुई थी. परिषद की यह 23वीं बैठक है. इसमें असम के वित्त मंत्री हेमंत विश्व शर्मा की अध्यक्षता वाले मंत्री समूह की एकमुश्त योजना के लिए कर दरों में कटौती के सुझावों पर भी विचार किया गया.

आपको बता दें कि जेटली की अध्यक्षता वाली इस परिषद में राज्यों के वित्त मंत्री शामिल हैं. देश में जुलाई 2017 से कार्यान्वित जीएसटी के तहत 1200 से अधिक वस्तुओं और सेवाओं को 5, 12, 18 और 28 प्रतिशत कर की श्रेणी में लाया गया है. विभिन्न वस्तुओं और सेवाओं के कर निर्धारण का आधार पिछले कराधार को बनाया गया है. यानी सभी वस्तुओं और सेवाओं पर कर के भार को लगभग पूर्व के स्तर पर बरकरार रखने के साथ राजस्व संग्रह तटस्थ रखने का प्रयास किया गया है.

जेटली ने पिछले दिनों कहा था कि कुछ वस्तुओं पर 28 प्रतिशत कर की दर नहीं होनी चाहिए और पिछले तीन-चार बैठकों में जीएसटी परिषद ने 100 वस्तुओं पर जीएसटी की दर में कमी की है. इसके तहत कर की दर को 28 प्रतिशत से 18 प्रतिशत और 18 प्रतिशत से 12 प्रतिशत की दर पर लाया गया है.

जेटली ने कहा था, "हम धीरे-धीरे कर की दर को नीचे ला रहे हैं. इसके पीछे विचार यह है कि जैसे आपका राजस्व संग्रह तटस्थ होता है हमें इसमें कमी (उच्च कर दायरे में आने वाली वस्तुओं की संख्या) लानी चाहिए और परिषद अब तक इसी रूप से काम कर रही है."

यहां आपको यह भी बता दें कि जीएसटी के पहले तीन महीने में सरकारी खजाने को कुल मिलाकर 2.78 लाख करोड़ रुपये का संग्रहण आया है.


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Monday, 23 October 2017

Need a radical change in GST structure: Adhiya

Need a radical change in GST structure: Adhiya

Need a radical change in GST structure: Adhiya :Chief Secretary of the Central Government and Chief Officer of Gujarat Kadar Hasmukh Adiya has said that there is an urgent need to radically change the tax rates of GST to reduce the burden on small and small businesses. This statement of the central government responsible officer is fraught with turmoil in the scandal surrounding GST rates across the country. In an interview given to PTI, the ADA said that Goods and Service Tax (GST), which covers many taxation of the central and state government, can take up to a year to take effect. Four months have passed since the GST has been implemented, but the GST Council has made many changes to prevent its problems.


Small and medium sized businesses and traders have been facing many problems in the system of paying taxes and claiming returns. To make it easier, the central government has been doing such exercises like iron gram. To simplify this process and to reduce the opposition to small and medium-sized trade-entities, the GST Council has reduced tax rates to over 100 life-saving goods and services.

Asked about this, the ADA said, "There is a need to radically change GST rates. Some items are divided into one chapters of GST rates. Chapters goods need to be adjusted. Where we think that there is a burden on the small and medium-sized business-industry or the common man, we are reducing the tax rates and looking for them a simple way. "

He also said that the committee is making calculations regarding these radical changes and the complete preparations are going on to make the GST structure more logical and streamlined. The committee will shortly bring a proposal for some changes to the Council. On November 10, the 23th GST Council meeting will be held in Guwahati, in which Union Finance Minister Arun Jaitley and the representatives of the states will be present.

Saturday, 7 October 2017

GST Diwali Bonanza: Relief for Small Business Owners, Exporters, Jewelers

GST Diwali Bonanza: Relief for Small Business Owners, Exporters, Jewelers

After the meeting of the GST conference, small traders and jewelers have given relief. GST conference Now traders with turnover up to Rs 1.5 crore have now been relieved from paying the compulsory return every month. Now these traders have to file this return every three months. According to Finance Minister Arun Jaitley, this decision will provide relief to around 90% small businessmen. Gems and jewelery has been excluded from GST notification. Now a new notification will be brought to it. The government has excluded the annual turnover of more than two crore dajams, jewelery and other high value goods businesses from the purview of the Prevention of Money Laundering Act (PMLA). Besides this, The purchaser of cash jewelery over 50,000 will not have to pay a pen card or support card. The government will issue a new limit in the coming days.

Meanwhile, the GST Council, which gave relief to the exporters, decided that e-wallets will be made for all exporters from April 1, 2018, to refund the claims made by exporters.

Sushil Modi, head of the Group of Ministers, who has made the technical problems in GST, tweeted and tweeted. After completion of the meeting, Sushil Modi tweeted that under the compounding scheme, the limit of 75 lakh turnover has been increased to 1 crore. Those traders can deposit a one-time tax on the total sales for 3 months.

It has been decided to constitute a 5 member ministerial group to provide the right to the sale of goods to the compounding dealers and input subsidy in other states. Sushil Modi has written in a tweet that the system of reverse charge has been postponed till March 31 next year. Earlier, registered taxpayers had to pay tax on buying goods near unregistered merchants. It has now been relieved till March 31.



Sunday, 9 July 2017

GST Rate Finder- Official Application Launched

GST Rate Finder- Official Application Launched A simple app to search through the various goods and services and their respective GST Rates and details. Search the entire list or respective categories of taxes for Goods and Services. Leave a comment if you liked the app or send us your suggestions.

The government on Friday launched an app called GST Rate Finder-- which as the name suggests is your ready reckoner for all the tax rates that are to be levied under the GST (Goods and Services Tax) regime. The app has been developed by the Central Board of Excise and Custom (CBEC).

"First app of its kind which would be a ready reckoner for public, for customers, for consumers, traders, students, anyone who wishes to have very handily (GST) rates available. So, if you are in a market, a restaurant or anywhere you can easily check what the (GST) rate is," CBEC chairperson Vanaja Sarna said.

GST Rate Finder- Official Application Launched 


The government has undertaken a slew of initiatives to educate and familiarise both consumers and traders since it launched GST in an elaborate midnight function on June 30-July 1 in the Parliament's central hall which which broadcast live for the entire nation.

Earlier this week the government started a series GST "masterclasses" aimed at addressing queries and clarifying any confusion or doubt regarding the new tax regime. These "masterclasses" are in the form of hour-long programs held across six days. They are telecast live on the state run television channel Doordarshan along with live webcasts. The "masterclasses" are primarily conducted by Revenue Secretary Hasmukh Adhia who's joined by other senior government officials who'd be subject experts on the day's topic.

GST Rate Finder

GST is India's most ambitious tax reform since independence and subsumes over a dozen central and state taxes that were levied on goods and services earlier. Bringing the country under a uniform tax regime, GST is expected to add 2 per cent to India's GDP (gross domestic product).

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