GST Council sets up 2 sub-groups to examine legal, technical aspects of e-invoice for B2B sales

GST Council sets up 2 sub-groups to examine legal, technical aspects of e-invoice for B2B sales

NEW DELHI: The GST Council has set up two sub-groups to look into the policy and technical aspects, such as turnover threshold and mode of generation, for e-invoice generation by businesses. While one sub-group will examine the business process, policy and legal aspects for generation of e-invoice, the other will recommend technical aspects for its […]

GSTN providing free accounting, billing software to MSMEs

GSTN providing free accounting, billing software to MSMEs

NEW DELHI: GST Network (GSTN) on Tuesday said it has started offering free accounting and billing software to MSMEs with annual turnover of up to Rs 1.5 crore, which would benefit about 80 lakh small businesses. This software would help businesses create invoices and account statements, manage inventory and prepare GST returns. The said software […]

India is one of the highest taxing nations in the world: Donald Trump

India is one of the highest taxing nations in the world: Donald Trump

WASHINGTON: India is one of the highest taxing nations in the world, US President Donald Trump has alleged as he again slammed the country for imposing 100 per cent tariffs on American products, including the iconic Harley-Davidson motorcycles. Such a high tariff is not fair, Trump said on Tuesday during National Republican Congressional Committee Annual […]

Governor admin opts enhancing threshold, composition limit under GST

Governor admin opts enhancing threshold, composition limit under GST

NEW DELHI: J&K Governor’s administration has decided to enhance threshold, composition limit under GST as proposed by the GST Council in its 32nd meeting held here on Thursday. The 32nd GST Council meeting was held under the chairmanship of Finance Minister Arun Jaitley. The State of Jammu and Kashmir was represented by Advisor to Governor, […]

GST having negative effect on tourism in JK: Par panel

GST having negative effect on tourism in JK: Par panel

New Delhi: The Goods and Services Tax has had a “negative” effect on tourism in Jammu and Kashmir, a parliamentary panel has noted, adding the Government of India (GoI) should reconsider the indirect tax regime on tourism-related activities in the northern state. The Committee on Development of Tourism in Jammu and Kashmir, in its report, […]

GST Council cuts rates on 23 items, rationalises 28% slab

GST Council cuts rates on 23 items, rationalises 28% slab

NEW DELHI: In a relief to the common man, the GST Council on Saturday cut rates on 23 commonly used goods and services, including TV screens, movie tickets and power banks. The annual revenue implication of the rate cuts would be Rs 55 billion, Finance Minister Arun Jaitley said. The council rationalised the 28 per […]

Jaitley admits areas of difference between govt and RBI

Jaitley admits areas of difference between govt and RBI

Mumbai: Finance minister Arun Jaitley on Thursday admitted there were two-three areas of differences with the Reserve Bank of India (RBI), but questioned how a mere discussion on its functioning could be considered “destruction” of an institution. Under attack politically for creating circumstances that led to the resignation of Urjit Patel as the RBI governor, […]

‘Double taxation’ continues in J&K even after GST

‘Double taxation’ continues in J&K even after GST

SRINAGAR: Nearly one-and-a-half year after the Goods and Services Tax (GST) was implemented in Jammu and Kashmir, the state government continues to levy indirect taxes which were supposed to cease as part of the GST reform to remove double taxation. The indirect taxes include toll, electricity duty, passenger tax, and entertainment tax. If these taxes […]

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