Search results for: GST Act

The FMCG (fast moving consumer goods), retail, food, and pharmaceutical companies can now sigh in relief because the government have read their minds and clarified that the ITC (Input Tax Credit) will also be applicable for promotional schemes like the ‘buy one get one free’ (BOGO) and with the same price and extra quantity.

Maharashtra state government has come forward with new one-time amnesty schemes to get rid of the backlog of tax assessments which is pending from before the initiation of the goods and services tax regime.

Punjab cabinet at its meeting chaired by chief minister Amarinder Singh approved an amendment to the GST incentives notified under its Industrial and Business Development Policy-2017.

A leading Kashmir based news portal recently published its interview with the Vice president of National Conference where he says if the results of next assembly election handouts ruling authority to his party

Tax Advocates Association of Gujarat (TAAG) organized an Open House with tax professionals where they put forth various contention related to the late issue of refunds, registration and other issues with GST Network (GSTN).

India Inc, the service sector including the Government and the Corporate sector, has got a hint regarding tax rebate from the Finance Ministry.

With the motive to encourage the environment-friendly automobile fuel, Auto LPG industry is looking forward and behesting for the contraction in GST rates on LPG conversion kits for automobiles from the current 28% to 5%.

GST has strategized to help and support the consumption-led states which could result in much higher revenue growth as compared to the manufacturing states. Getting a place in the Compensation list, the States would on a Guarantee basis, be showing revenue growth of 14% on the FY16 base.

Through a recent announcement, the real estate sector witnessed huge leverage in the GST charged on its various segments.