Demand for zero GST on textiles cannot be accepted: Jaitley
New Delhi, July 18 (IANS) Union Finance Minister Arun Jaitley on Tuesday said the demand of textile traders to exempt fabrics under the Goods and Services Tax (GST) system cannot be met with as manufacturers will then not be able to claim credit of tax on previous stages. “The GST rate structure for the textile […]
Gold settles below Rs 29,000, silver holds up firm
By: PTI July 17, 2017 Gold prices on Monday got below the Rs 29,000-mark by sinking Rs 100 to Rs 28,950 per 10 grams, dragged down by slack demand from local jewellers, even as the metal made headway overseas. Silver advanced by Rs 180 to Rs 38,180 per kg, riding on increased offtake by industrial units and […]
No GST on second hand goods if sold cheaper
New Delhi, July 15 (IANS) The buying and selling of second hand goods will not attract Goods and Services Tax (GST) if sold at a price cheaper than the purchase price, the government said on Saturday. Rule 32(5) of the Central Goods and Services Tax (CGST) Rules, 2017, provides that where a taxable supply is […]
India’s retail inflation eases to 1.54% in June
New Delhi, July 12 (IANS) India’s retail, or consumer price index (CPI) based, inflation in June fell to 1.54 per cent, as compared to 5.77 per cent in the same month of last year, official data showed here on Wednesday. The June retail inflation rate fell even as compared to May when it prevailed at […]
Assocham seeks review of GST rates for agricultural inputs
New Delhi, July 12 (IANS) Industry lobby Assocham on Wednesday urged the government to lower the Goods and Services Tax (GST) rates for select agricultural inputs, failing which use of chemical fertilisers will get a boost. “Higher GST in this segment will directly promote chemical use, thereby leading to an increase in green house gas […]
Airtel plans Rs 2,000 cr customer interactivity programme
New Delhi, July 10 (IANS) Leading telecom operator Airtel has launched ‘Project Next’, a digital programme which, it says, will transform customer experience across all its services, with an investment of Rs 2,000 crore over the next three years. “We plan to invest Rs 2,000 crore over the next three years to launch several digital […]
Nepali delegation to visit India for GST talks
Kathmandu, July 10 (IANS) Concerned about the apprehended impact on Nepal’s commercial and trading activity due to the introduction of the Goods and Services Tax (GST) in India, a high-level government delegation from Nepal will be holding talks with Indian government officials in New Delhi on Tuesday. A 15-20 member team, led by Ravi Shankar […]
Sensex off record highs in range-bound trade
Mumbai, Jul 7 (PTI) The benchmark Sensex today retreated from its record high by ending lower by 9 points in a range- bound session but recorded gains for the week on GST boost and monsoon progress. The 30-share BSE index, which had closed at a record high of 31,369.34 yesterday, traded in the negative terrain for […]
GST: KTM cuts prices of its models by up to Rs 8,600
Bajaj Auto on Thursday said its Austrian arm KTM has reduced the prices of bikes in India by up to Rs 8,600 to pass on the GST benefit to customers. Ex-showroom prices of the sub 350cc KTM range including the 200 Duke, RC 200 and 250 Duke have been reduced by up to Rs 8,600 […]
Real benefit of GST will be visible in 12-18 months
The goods and services tax (GST) has caught the nation’s fancy — which is somewhat unprecedented for a change in tax regime. However, despite all the efforts made by the government to demystify GST, people continue to be anxious (and confused) about whether the tax will be a game changer for every household. My aim […]
