Relief for exporters & SMEs as GST Council reduces compliance issues, rates cut on 27 items
Print post-GST rates on items or go to jail, government warns traders
MRP rules under GST released. Read here
Government, banks kill rumours on card payments under GST
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7 Oct, 2017
The Goods and Services tax (GST) council on Friday cut rates on 27 items and 12 services, and approved sweeping changes in rules to soothe frayed nerves of millions of small enterprises and exporters that have been battling with procedural irritants, delayed refunds and technical glitches on returns filing.
The Finance Minister Arun Jaitley-headed panel pushed for big changes in its 22nd meeting to iron out rough edges of the new tax system that has been hit by multiple pain points since it was rolled out on July 1. …
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Jul 8, 2017,
A grocery store in India (PTI photograph)A grocery store in India (PTI photograph)
NEW DELHI: The government on Friday warned manufacturer, importer and sellers of pre-packaged goods of penalties ranging from fines of up to Rs 1 lakh or prison terms up to a year for repeat offence of not printing the post-GST rates on product labels. The consumer affairs ministry has come out with the new norm for affixing the revised maximum retail price (MRP) on the old stocks, which were manufactured and packed before July 1. …
Jul 4, 2017,
The government on Tuesday announced rules regarding MRP or maximum retail price for goods under the GST (goods and services tax) regime that was rolled out at the midnight of Friday and Saturday. There has been ample confusion among both consumers and retailers regarding how the MRP changes will reflect under GST.
“Under the GST regime, if a price of a product has increased the manufacturer/ importer/ packer will have to give an advertisement in two newspapers about the new MRP and put a revised sticker on the packaging,”, Department of Consumer Affairs Secretary Avinash Srivastava said. Both the new and the old MRP must show on the packaging, he added. …
Jul 2, 2017,
MUMBAI: The government and banks have scotched rumours that payments by credit cards or other electronic modes of payment would lead to double taxation under the newly-launched Goods and Services Tax.
Revenue secretary Hasmukh Adhia clarified by way of a tweet that “A wrong message is doing rounds on social media that if you make payment of utility bills by credit cards, you will be paying GST twice. This is completely untrue. Please do not recirculate such message without checking it with authority,” he said. …
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