Tag Archives: gst

Octoberfest: Manufacturing gathers steam; exports up 42.3% & GST mopup rises 24%

India’s merchandise exports increased for the eleventh consecutive month in October, growing 42.33% on year to $35.47 billion, led by engineering goods, petroleum products and gems and jewellery. Government data released on Monday also showed a 62.48% rise in imports … Continue reading

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High taxes hampering growth of luxury car segment in India: Audi

A high taxation regime is restricting growth of the luxury car segment in India and the government should look at lowering the levies in order to help the sector grow, according to German automaker Audi. Luxury car volumes account for … Continue reading

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Govt extends deadlines for furnishing annual GST returns

NEW DELHI: The government has extended by a month the deadlines for furnishing annual returns for 2018-19 under the goods and services tax (GST) regime. After obtaining clearances from the Election Commission in view of the Model Code of Conduct … Continue reading

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IDBI Bank, U GRO Capital ink a co-lending agreement

U GRO Capital has signed a co-lending agreement with IDBI Bank, on the occasion of the bank’s 58th Foundation Day. The co-lending arrangement will work towards providing formal credit to underserved MSMEs, at affordable rates. For the same, it will … Continue reading

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Ease of business in self-reliant India – Indirect tax budgetary changes

Against the background of a never seen before pandemic curtailing global economic growth and moving towards self-reliance and aatmanirbharta, the Finance Minister presented a very progressive Union Budget 2021. The changes brought under the Customs law are in line with … Continue reading

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Real estate developers reach out to government over GST on redevelopment

Several real estate developers have reached out to the government for clarity and concessions on the issue of double GST payment in redevelopment projects, a factor that has led to cost escalation at a time when margins are already under … Continue reading

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Mining, steel companies may move court over GST on royalty, licence fees

Several steel manufacturers and coal mining companies have reached out to their legal experts to explore options to challenge the recent government diktat to tax mining royalty and licence fees under the Goods and Services Tax (GST) framework. Following the … Continue reading

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Plywood maker Greenply bets on asset light model for growth

Greenply Industries Limited, the Kolkata-headquartered plywood maker, has embraced an ‘assetlight’ business model to grow at an accelerated pace with minimal capital investment. The company has decided to enter into multiple joint ventures (JVs) with regional manufacturers across India for … Continue reading

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Pen in pain: Pen associations write to government over GST rate increase

Pen manufacturers have reached out to the government seeking a reduction in Goods and Services Tax as higher taxes have escalated costs and hit sales after the government recently clubbed all pens under the 18% GST bracket. Earlier, only fountain … Continue reading

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Pen makers ask Finance Ministry to reduce GST rate

Mumbai: Pen manufacturers have sought a reduction in goods and services tax (GST), saying the government’s recent move to club all pens under the 18% GST bracket has pushed up cost and hit sales. Earlier, a GST rate of 18% … Continue reading

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