Tag Archives: GST

15th Finance Commission seeks say in GST Council amid Centre-states row

The Centre and state governments seem to be on a collision course amid a sharp economic downturn that has eroded their financial positions. Fifteenth Finance Commission (FFC) chairman N.K. Singh on Friday sought a leverage with the Goods and Services Tax (GST) Council, arguing that tax rate cuts and grant of exemptions decided solely by the council affects the FFC’s goal of ... Read More »

There should be a mechanism by which GST Council and Finance Commission can coordinate: N.K. Singh

N. K. Singh, Chairman 15th Finance commission, at a press conference in Mumbai on September 19, 2018. File photo: Vivek Bendre The Fifteenth Finance Commission is up against unprecedented challenges. First, the Goods and Services Tax has introduced an element of uncertainty in the revenue projections of the Union and State governments. More importantly, the Terms of Reference notified for the ... Read More »

Hostel mess facility to attract 5% GST: Finance ministry

The CBEC has issued the clarification in view of queries regarding the tax liability and the rate of GST on services provided by a college hostel mess. Photo: Mint New Delhi: Mess facility provided to students and staff will attract 5% GST irrespective of whether it is provided by educational institution or outside contractor, the finance ministry said on Wednesday. The ... Read More »

This is the amount of GST being charged on the JEE Advanced 2018 registration fee

The Joint Entrance Examination (Advanced) 2018, is scheduled to be conducted on May 20 for admission to the Bachelor’s, Integrated Master’s and Dual Degree programmes (entry at the 10+2 level) in all the IITs. This time, GST (Goods and Services Tax) amount has also been included in the registration fee. GST on registration fee As per an NDTV report, for ... Read More »

Impact of GST on Education Sector

Image for representational purpose only (Photo courtesy: PTI) The Right of Children to Free and Compulsory Education Act of 2009 has made education not only compulsory but has also made the Govt. responsible to provide education at economical rates. The  Council has kept education sector free from its ambit. Services related to education, provided by any educational institution to its ... Read More »

Fashion and lifestyle brands want their share of GST gains from department chains

With the introduction of GST, the tax on rentals can be set off against input tax credits available for other goods and services.  NEW DELHI: Indian and global manufacturers of fashion and lifestyle products have asked department store chains to pass on the benefits obtained from the new goods and services tax regime. Such companies told ET they were seeking “some margin benefits” from ... Read More »

GST UPDATE: Gadgets that may become expensive

SMARTPHONES Most mobile phones may get costlier by 4-5% with the government imposing a goods and services tax (GST) of 12%, taking away the benefit under duty differential that was being offered to local manufacturers. Under the new proposed GST rate, while imported phones will become cheaper, most of the locally-manufactured phones will get costlier. The industry said that it ... Read More »

Pune University, colleges tweak syllabi for GST; spurt in crash courses’ demand

After Prime Minister Narendra Modilaunched the new syllabus for Chartered Accountancy on July 1, the Savitribai Phule Pune University (SPPU) and even independent colleges in the city are working on revising the syllabus for BCom, MCom and all taxation and accounting related courses in the next few weeks. Even as the clarity on the provisions of the Goods and Services Tax ... Read More »

GST Effect: iPhone, iPad, Mac, Apple Watch Prices in India Slashed

HIGHLIGHTS iPhone 7 price in India now starts at Rs. 56,200 instead of Rs. 60,000 iPhone 7 Plus MRP 32GB will now retail at Rs. 67,300 Price of new Mac and iPad models have also been slashed On the day that GST has gone into effect, Apple has announced a reduction in the maximum retail prices of iPhone, iPad, Apple Watch, and Mac line of ... Read More »

GST Effect On Bikes: Prices In India

HIGHLIGHTS GST will impact bike prices marginally Ex-showroom prices of bikes below 350 cc will go down Ex-showroom prices of bikes above 350 cc will increase GST effect on bikes will impact prices of two-wheelers once Goods and Services Tax (GST) is implemented from 1 July 2017, but only marginally. GST leads to a more unified tax structure, so two-wheeler ... Read More »