GST to be launched on June 30 midnight in Parliament

President Pranab Mukherjee, Vice President Hamid Ansari, Prime Minister Narendra Modi and former Prime Ministers Manmohan Singh and H.D. Deve Gowda will be among those who will attend the special event, Finance Minister Arun Jaitley told a press conference here. The new indirect tax regime — The Goods and Services Tax (GST) — will be […]

GST Council sets tax rates for lotteries, hotels

The 17th GST Council meeting will also review the preparedness of the states to switch over to the new tax regime that proposes one sales tax for the whole country. On Sunday, the council eased rules GSTR 1 (onward supplies) and GSTR 2 (inward supplies) for July and August to ease taxpayers’ anxieties. The GST […]

Karnataka ready for July 1 rollout of GST

Setting the stage for the rollout of the new indirect tax system from July 1 in the state, the legislative assembly passed the Karnataka Goods and Services Tax Bill 2017 on Thursday, even as both the Congress and BJP claimed credit for introducing the country’s biggest tax reform. Chief minister Siddaramaiah tabled the bill in […]

India ready for GST, anti-profiteering rules

India is ready to launch the Goods and Services Tax (GST) on July 1, the official steering the process told Reuters, saying the technology that will drive it is robust and dismissing fears the tax is too complicated. Hasmukh Adhia, revenue secretary at the Finance Ministry, also said rules would be issued “soon” to deter […]