GST Launch Live news updates from Parliament

Tamilnadu Theaters

Tamilnadu Theaters

The tax department is increasing its staff from 46,000 to 80,000 by March next year, said The Times of India.

The new indirect tax kicked in from July 1.

India will continue to wrestle with new policy adoption of the Goods and Services Tax with a clear intent to be organised under a unified tax regime.

In his speech, the President said that GST was the culmination of 17-year-long journey. It cautions that many businesses will find difficulty in achieving good levels of compliance, especially at the outset, which could see some facing penalties highlighting additional financial risks. However, exporters can claim input tax credit.

India's tax-to-GDP ratio of 16.6 per cent is one of the worst among major economies - less the half the 34 per cent average for the members of the OECD and also below many emerging economies. The GST will replace about 20 central and state taxes and unite Asia's third-largest economy and 1.3 billion people into a single market.

Chapter Eight of the Rights of Persons with Disabilities Act 2016 – Duties and Responsibilities of Appropriate Governments, clearly states, “The appropriate government shall develop schemes and programmes to promote the personal mobility of persons with disabilities at affordable cost to provide for incentives and concessions, retrofitting of vehicles and personal mobility assistance.”. "I always believed that GST would be implemented. I repeat Mercedes and hawai chappals cant be taxed at the same rate". So companies often choose warehouses for their inventory based on tax considerations. "Today, we are free from them and we have one nation, one tax", said Modi.

Amrapali Gupta: GST is good idea! Some essential items like food and milk have been kept out of the GST. So, that will bring a positive change in our health as well.

West Bengal Government has been demanding delay in the roll out of the GST saying the systems are not ready.

In simple terms, this would mean that tax need not paid at each stage of manufacturing and retailing, but only at the destination. This clause was meant to ensure that the reduction in the rate of tax arising due to introduction of GST shall be passed on to the consumers by the commensurate reduction in prices. Rituparna Chakraborty, President, Indian Staffing Federation, said: "Cash flows are expected to become more predictable and profitability will get improved". "Further, exports would emerge as more competitive in global markets, while foreign direct investment is likely to be encouraged".

Few days back even Bollywood actor/director Konkona Sen Sharma questioned the government's proposal to tax sanitary napkins at 12% under the GST in the trailer launch of her upcoming movie, "Lipstick Under My Burkha".

Modi preferred to call GST, which came into force at midnight of Saturday, a social reform rather than a tax reform, considering its efficiency that will boost economic activity and create jobs. State restrictions and levies have complicated e-commerce. But now all this will end with GST.

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