Congress president Rahul Gandhi’s ‘Gabbar Singh’ barb at the Modi government for its Goods and Services Tax (GST) may backfire. Rahul has been accusing the Centre of implementing a flawed GST that has inconvenienced small traders and common people alike. However, when the central government moved a proposal to move several items from the 28 … Read More →
Silk fibres have been exempted under GST. (File Photo) GUWAHATI: Five years ago, Lekha Goswami left her plum corporate job to follow her passion – designing traditional clothes and started a one-room Assamese ethnic-wear boutique. Off late, the 37-year-old has been anxiously spending inordinate amounts of time reading up on the recently launched GST – … Read More →
Branded apparel manufacturers and retailers are yet to overcome the implications of the goods and services tax (GST) rollout in July. The tax reform had directly impacted the entire textile chain due to cascading burden. And post GST, poor consumer sentiment and falling exports have only made matters worse for the business. The September quarter results … Read More →
Retail outlets are reportedly planning bumper year-end sales by December to clear their inventories before 2018 ends. Retailers might offer discounts up to 50 per cent on branded goods in light of restrictions on transitional credit under Goods and Services Tax, said a report by The Economic Times. As per the GST regulations, traders will … Read More →
The GST (goods and services tax) rate on gold jewellery is fixed at 3%. While it is higher than the earlier tax on gold, the GST rate is lower than expectations of a 5% rate and that is a relief. GST implementation is expected to be positive for jewellery companies in the organized market such … Read More →
It seems the government has accidentally given access to a route which can be exploited to escape tax in the GST regime. Photo: Priyanka Parashar/Mint LATEST NEWS » Trai questions third-party right over user-generated data Govt body asks banks in Karnataka to ensure all staff learn Kannada No GST on tickets of films shot 50% … Read More →
The clarification will provide relief to individuals selling old gold jewellery to jewellers and buying new ornaments from the consideration received. NEW DELHI: The sale of old gold by individuals for a consideration won’t attract the goods and services tax, the finance ministry clarified, providing respite to people who exchange jewellery. “Even though the sale of old gold by … Read More →