GST

CBEC launches GST mobile app & invites suggestions on AIR Duty Drawback rates under GST

Striving towards implementation of Goods and Services Tax (“GST”) from July 1, 2017, the Central Board of Excise and Customs (“CBEC” or “the Board”) has launched a mobile application for GST, in step with the government’s Digital India initiative.

Taxpayers can readily access a host of GST information such as:

Migration to GST-Approach and guidelines for migration 

Draft Law-Model GST Law, IGST Law and GST Compensation Law 

Draft Rules - Rules related to Registration, Returns, Payment, Refund and Invoice 

Frequently Asked Questions (FAQs) on GST 

Various resources on GST such a videos, articles etc. 

Related Website Links 

Helpdesk/Email Contact 

The mobile application enables taxpayers to be well informed of the latest updates on GST. Taxpayers can also provide feedback and contact CBEC’s 24x7 helpdesk “CBEC Mitra” through a toll-free number or email, at the touch of a button.

GST rollout will reduce disparity among states: CEA

Chief Economic Advisor (CEA) Arvind Subramanian said implementation of the goods and services tax (GST) will reduce disparities among the states leading to more "convergence".
"It is true that people have not fully understood GST.

Under GST regime, no state can offer incentives to attract investments. GST will be placing some restriction on states in placing incentives to industries... So, GST would actually promote convergence and reduce divergence among states," Subramanian said in Q&A in Facebook on Economic Survey and Indian Economy.

Asked whether India should have one GST rate, he said it may not be possible to have one rate in the Indian context.

Scope of black money generation will be difficult once GST is implemented: Arun Jaitley

Jaitley said there were several issues in terms of policy in relation to the draft GST legislations.

Finance Minister Arun Jaitley on Friday said the scope for generation of black money will become difficult once the Goods and Services Tax (GST) is implemented. Jaitley addressed a post-Budget interactive session with Industry Associations at Vigyan Bhavan in the capital today. “Draft bills on GST to be introduced in the second leg of Budget session. My target is to finalise those drafts and take them in the second part of budget session of Parliament,” said Jaitley, adding that there were several issues in terms of policy in relation to the draft GST legislations.

“Now the main policy issues (with regard to CGST and IGST) over 9 meetings have been put to rest. Final drafts are now being prepared and once they are circulated with the legally vetted language, those drafts will have to then go to Parliament and state legislature (for SGST) for approval.

Revenue Department prepares draft recommendations for GST rates

The Revenue Department has prepared draft recommendations for GST rates on services. According to the draft, GST on telecom, banking, financial services, aviation is proposed to be pegged at 18%, sources told ET Now DTH, restaurant dining are also placed in the 18% bracket, they said.

“Education, healthcare are the only major sectors which will see lower service tax rate of 12%. Construction of affordable housing will also remain in the 12% bracket,” the sources further added.

Meanwhile, talking about the roadmap for implementation of the Goods and Services Tax (GST), Hasmukh Adhia expressed optimism that the government is on track to make the indirect tax reform a reality soon. “We are well on track for GST, nobody needs to worry about its implementation,” he said.