Credit card bill payment exempt from cash dealing limit
July 04, 2017 16:15 ISTThe Finance Act 2017 banned cash transaction of Rs 2 lakh or above with effect April 1, 2017.
The Finance Act 2017 banned cash transaction of Rs 2 lakh or above with effect April 1, 2017.
Subsidised LPG rates have been increased to Rs 477.46 per 14.2-kg cylinder from Rs 446.65 in Delhi after GST was implemented from July 1.
LPG has been placed in the lowest 5 per cent GST bracket, the other rates in the new indirect tax structure being 12, 18 and 28 per cent.
The Microsoft Excel-based template is part of GST Council's approach to make tax compliance highly easy and convenient for taxpayers and also reduce the time of compliance to improve ease of doing business
Under GST, the effective tax on under-construction projects has gone up to 12 per cent, which is an increase of 6.5 per cent.
Around 150 GST Seva Kendras were set up and a manual which contains complete information was also made available to help the traders, he said.
With the country's much-awaited the Goods and Services Tax (GST) reform in action, e-commerce players are optimistic that more tax benefits will come in within the new tax regime, which will be shared with the consumers.
Prime Minister Narendra Modi is addressing a gathering of trader associations, chartered accountants, various chambers of commerce and industry and business people at the Indira Gandhi Indoor Stadium here.
The GST, India's biggest tax reform since Independence, was rolled out past midnight Friday at a gala event organised in the Parliament's Central Hall.
Finance Minister Arun Jaitley countered the criticism against the 'hurried' launch of GST, saying it was a reform that had been discussed for 15 years
The NCP, a key constituent of the Congress-led UPA, broke away from the Opposition ranks, with its chief Sharad Pawar along with Praful Patel and Tariq Anwar attending the event in the Central Hall of Parliament.
Mukherjee recalled the proposal to introduce GST was first mooted in the Budget Speech for the financial year 2006-07.
Modi said GST will eliminate the compounding effects of multi-layered tax system.
Jaitley said the implementation of the landmark unified tax should be seen as the beginning of a new journey that will expand the country's economic horizon.
The GST difference of fare shall not be collected on the tickets booked in advance as the GST shall be applicable on tickets issued on or after July, 2017, said a senior Railway Ministry official.
West Bengal's ruling Trinamool Congress has announced boycott of the midnight GST roll-out event in Parliament.
The GST Council, in another move to give relief to farmers, also cut tax rate on exclusive parts of tractors from 28 per cent to 18 per cent.
Top News
Latest News