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Corporate News *  Post GST, J&K’s own tax collection drops by Rs 1,300 crore since July 2017 *  GST Council may replace 12% and 18% slabs with 14-15% one: Sushil Modi *  Domino’s lands in trouble for not passing on GST cuts *   Higher oil prices, GST may boost states revenue by Rs 37,400 crore in FY19  *   These taxpayers no more at mercy of GST intermediaries *  Budget 2018: No fiscal derailment, but a lot rides on GST; expect caution from RBI *  GST: E-way bill implementation deferred due to glitches *  Homebuyers must avoid traps on the name of NO GST Impact *   Govt will formulate a comprehensive gold policy to develop gold as an asset class *   Government to evolve to asign a unique id to every individual enterprise. *   1.48 lakh crore for rail budget. *   7148 Crore to be sanctioned to textile sector. *   3700 corore for SME industry *  16000 crore for free electricity connection *   Government ignored warnings over GST rollout: sources *  GSTR 3B questionaire introduced- To be filled before filing return *  Advisory mail  to all the taxpayers received from GSTN *   Advisory group on GST submits report, suggests changes *   GST lifted oil demand on higher vehicle sales, says report *   Moody’s gives thumbs up to GST, demonetisation  *   Pass on rate cut benefits immediately, companies tell traders *   Focus will now be on simplifying forms, IT processes under GST: Sushil Modi *  Tax rates lowered on consumer goods,only luxury goods taxed @ 28% *   Businesses can revise GST transition claim form now *  Multiplex owners in UP demand clarity on refund as tax exemptions go away after GST *   GST compliance: A case of much ado about nothing *  PM hints more relief for traders & businesses to ease GST compliance burden *  Infosys deploys more people in states to ease GSTN load *   Further reforms are needed for the GST to succeed *   GST impact! Massive stock clearance discounts on apparels, gadgets likely in December
Subject News *  New software detects GST defaulters with tax liability of nearly ₹400 crore *  GST shock for India Inc: Salary costs at HQ for services to offices in other states hits 18% tax wall *   Reporting of GST, GAAR details in tax audit report deferred till Mar 2019 *  Mere deposit of goods to custodian not liable for GST: AAR *  CGST Amendment: Companies may have to reverse cess credits *  GST compensation worth Rs 52,077 crore paid to states/UTs: Government *  GST Evasion Worth Rs 3,026 Crore Detected In A Year: Government *  GST slabs may reduce to three in the long term, says Sanyal *  New GST returns system may not significantly benefit small taxpayers *  GST Council clears 20 per cent cashback on digital payments, with Rs 100 capital *   Revision in rates along with other key decisions likely as 28th meeting of GST Council begins. *   GST Return: Key highlights of the draft simplified form & what to expect *  GST: Government Targets Rollout Of New GST Return Forms By Jan. 1, Hasmukh Adhia Says *  CBIC to take up import duty hike demands *  28% GST slab being phased out: Arun Jaitley *  GST rate cut to bring renewed interest in beneficiary stocks *   Relief to Small Traders: GST Council approves Quarterly Returns for Traders having Annual Turnover of up to Rs 5cr *  GST Council to discuss annual return forms; experts expect reconciliation with ITR. *  Panel Of Ministers Mulls 1% Cess On Luxury Items, Tobacco To Help Farmers *  GST Council to consider rate cut on items with low revenue impact on July 21 *  E-way bills have increased our, liability – transporter says *  One year of GST: the successes,failures and what's next on the agenda *  GST Rate cuts could come sooner *  GST Is Not All That Bad-small Businesses  *  Govement Extends Sale Of Pre-GST Goods With Stickers Of Revised Price Till July 31 *  Government Collects Rs 95,610 Crore GST In May *  28th GST Council Meeting Date announced *  Rs. 672 Crore Worth GST Evasion Detected In Jaipur *  Rs 38,062 Crore Refund Claims of Exporters were cleared Till June 16 *   Finance Ministry Likely to Launch Annual GST Return Forms in Next Council Meet  


GST council to discuss about bringing natural Gas in GST

GST Council could consider bringing natural gas within the purview of gst. However, did not prescribe a specific timeframe for bringing natural gas and ATF within GST.

(Source :
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