-The Telegraph PM Modi’s Gabbar Singh Tax is the best example of his modus operandi — talk big, and when it’s time to act, make things worse: Congress Traders and shopkeepers will hold a nationwide protest next week against a hike in taxes on a range of products, including food grains and household items, and services that kicked in from Monday. “The 5 per cent goods and services tax on a range of...
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Rice price may go up by Rs 5/kg due to 5% GST
-The New Indian Express Based on the recommendation of the GST Council, the Centre has issued notifications bringing essential commodities including rice and maize under 5% GST slab from July 18. MADURAI: The decision of the Union government to levy 5% Goods and Services Tax (GST) on packaged food may increase the price of rice by a minimum of Rs 3 to Rs 5 per kg from Monday, Tamil Nadu rice mills...
More »Hanging by a thread: Gujarat’s textile industry -AM Jigeesh
-The Hindu Textile traders and cotton farmers say they’re suffering unprecedented losses. For a State half whose population is linked to textiles, such a crisis could have far-reaching consequences. With the Assembly polls scheduled in Gujarat later this year, A.M. Jigeesh explores whether this financial adversity could have political repercussions Hours after the Goods and Services Tax (GST) was launched at a midnight gala on June 30, 2017, a 38-year-old textile trader,...
More »Rs.78,704 crore due to States as GST recompense
-The Hindu Dues equal four months’ compensation, says Finance Ministry The Centre is yet to remit ₹78,704 crore in outstanding Goods and Services Tax (GST) compensation dues to States, equivalent to four months of compensation under the indirect tax regime introduced in July 2017, the Finance Ministry said on Wednesday, citing ‘inadequate balance in the fund’. “The pending amount will also be released as and when amount from cess accrues in the...
More »How GST is killing small businesses with inspector raj and suffocating compliance -Ritesh Kumar Singh
-ThePrint.in GST was supposed to create a unified market. The opposite is happening with small businesses being harassed with invoice and payments. The introduction of the Goods and Services Tax or GST was supposed to create a unified market of 1.4 billion people and encourage entrepreneurship and job creation. The other aim was to bring more and more firms into the formal sector of India’s economy, which will help expand the tax...
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