The Real Estate Board (REB) will be launching a series of hands-on sessions to train real estate dealers to use the new web-based reporting portal known as

GST Updates​ Wiki

Updates :

Why and how GST was accepted by States : How A Robust Tax Regime Can Drive India’s $10 Trillion-Plus Growth Plan

Nandan Nilekani is assisting Govt, GST council, business bodies and tax experts to simplify the online tax filing procedures :http://tea-india.org/news-board/…

GoM to discuss about Simplification of GST Returns Today | Taxscan

India : Indian govt issues ₹17,616 cr refund under GST


GST :

August :

The fake news on GST

July :

Country’s biggest-ever GST fraud worth Rs 60 crore unearthed in Kanpur (claiming 60 Crores Income tax credit while trading only Rs 400 using fake bills)

Not necessary to pay compensation for tax loss if tax collection growth were less than 14%. This was a gamble that paid off for most states. It was a big but will calculated gamble because states were growing at 9% in tax collection on average (TN at 4% while Bihar at 16%). So GST has actually grown beyond the 14% mark for most states.

Source : One Year Of GST: States Needing Little Compensation Has To Be Biggest Relief For Centre

  • A report released recently by the economists at State Bank of India (SBI) research centre analysed revenues of 24 states and that 16 out of them have increased their revenues over and above of 14 per cent mutually accepted minimum tax growth rate. On aggregate, the report finds, states gained Rs 18,698 crore in revenue in eight months of last fiscal.
  • Haryana (tax growth rate 31 per cent), Jharkhand (27 per cent), Punjab (23 per cent), Telangana (23 per cent), Chhattisgarh (21 per cent) and Maharashtra (19 per cent) were some of the biggest gainers under the new regime and earned an additional revenue of Rs 8,818 crore, Rs 5,233 crore, Rs 4,361 crore, Rs 6,939 crore, Rs 3,343 crore and Rs 9,501 crore respectively.
  • Nine states that couldn’t achieve the 14 per cent baseline tax growth rate are: Karnataka (loss of Rs 10,521 crore), Uttar Pradesh (Rs 7,069 crore), Madhya Pradesh (Rs 6,141 crore), Assam (Rs 4,687 crore), Himachal Pradesh (Rs 3,159 crore), West Bengal (Rs 1,940 crore), Tamil Nadu (Rs 175 crore), Odisha (Rs 617 crore) and Goa (Rs 98 crore).
  • As one can see, except Karnataka, Uttar Pradesh, Madhya Pradesh, Assam and Himachal Pradesh, loss accrued due to lower growth for other states isn’t substantial. We must also take into account the fact that these figures are only for eight months, from July to February (March figures are excluded).
  • compensation cess which amounted to Rs 62,000 crore and this is expected to soar to Rs 90,000 crore in the current fiscal. For last fiscal, out of Rs 62,000 crore, only Rs 41,000 crore has been given by the centre to states as compensation. Going by figures on revenue loss, the centre may end up saving some of the amount from the compensation kitty, leaving room for relaxation in cess levied on luxury and sin products.

May 2018 :

GST on jet fuel: Airlines can earn Rs 5,220 crore input tax credit

BSNL partners SAP to boost GST compliance in rural India

Indian textile markets firming up, says SIMA

Dec 2017 :

GST collections reverse trend; rise to Rs 86,703 crore in December

GST refund woes hit Bengal jewellery exports – Times of India

Dip in revenue pushes India to crack down on tax compliance (88K Crores dip from 93K Crores)

With GST, Bangladesh enters Indian garments market (retailers get 10–15% cheaper prices by importing from B’desh)

After GST simplification, exports rise 30.55% to $26.19 billion in November

Inter-State e-way Bill to be made compulsory from 1st of February, 2018

Eatery not passing on GST cut benefit? How you can file a complaint

Foreign Trade Policy mid-term review: Exporters heave a sigh of relief; now for quicker GST refunds

Odisha registers 2.3 per cent growth in tax collection after GST

Q2 GDP up 6.3%, shrugs off DeMo & GST blues

https://m.economictimes.com/news…

Nov 2017 :

GST collection lowest for October at Rs 83,346 cr (due to payouts from IGST for ITC at consumer SGST end and export refunds of 50K Cr)

Hotels told to implement revised GST rates (flat 5% tax without Input Tax Credit for hotels, restaurants,)

Image Source : Fear of revenue loss abates as GST collections gain momentum

GST revenue collections in October at Rs 95,131 cr: Sushil Modi

Delhi crosses GST target in October – Times of India

Here’s the full list of items, services under revised GST rates

Revamped GST structure provides major relief to aviation sector

Long wait for truckers at state borders in spite of GST rollout – Times of India (state RTOs and flying squads keep trucks waiting)

August surplus clinched GST rate cut, talks on for shift to two-rate regime – Times of India

http://www.moneycontrol.com/news…

Restaurants to levy 5% GST from today, food bills likely to come down (5% without ITC for all restaurants below 5 star, VAT on liquor, outdoor and 5 star at 18% GST with ITC)

Now your bills for eating out will come down (5% flat tax without GST)

Oct 2017 :

GST: Govt collects ₹ 92,150 crore revenue in September

IMG Source : Half the assessees fail to file GST returns for September

September 2017 :

Taxpayers claim Rs 65,000 crore as refund of Rs 95,000 crore collected under GST. Govt orders probe

GST collection for August 2017 slips to Rs 90,669 crore; revenue expected to rise on account of belated tax returns

August 2017 :

July GST collections of Rs 92,000 crore exceeded target: Finance Minister Arun Jaitley

India’s first GST revenue of Rs 92,283 crore explained

More than 2.9 million file GST returns

2.7 mn assessees yet to fully migrate to GST portal

IGST collection from imports rises about 60% in just one month of GST (26K Crores IGST on imports in July vs 16K Crores customs duty in July last year, scrapping of customs duty exemptions)

July 2017 :

Over 12 lakh businesses apply for new GST registration: Revenue Secretary Hasmukh Adhia

GST impact: Over 25% of trucks idle amid drop in interstate movement

Trucks cover 30 per cent more distance a day post-GST

Undue profit of over Rs 1cr to come under GST authority’s lens – Times of India (National Anti-Profiteering Authority to be setup soon, GST Implementation Committees to be setup at states and centre)

Few takers for simple tax for small businesses: A look at Composition Scheme under GST

GST protests a sham; tax on fabrics a non issue; know the horror stories and more

Process eased for exporters who have not paid IGST

http://m.businesstoday.in/story/…

GST intelligence agency gets new chief (expert in checking goods in India and at UN)

Print post-GST rates on items or go to jail, government warns traders – Times of India

Anti-profiteering Authority set up to ensure GST benefits reach the consumer – India Legal

Anti-Profiteering Provisions Under the GST Law

GST Rates Guide and Its Impact: What Gets ‘Cheaper’ and What Becomes ‘Costlier’ From Today

GST Rates: How GST Impact Prices Of Goods, Complete List Of Items And Their Goods And Services Tax

Before GST, nation was politically integrated, not economically: Jaitley

J-K joins GST regime from midnight

Make in India Awards: Has GST started delivering? NITI Aayog CEO Amitabh Kant says freight transport speed has doubled

GST: Here’s how neighbouring countries are gearing up for India’s biggest tax reform

GST India 2017: Exporters need not pay IGST if bond furnished

Medicines :

Essential drugs to be sold at non-GST price till August (MRP till stocks replaced by around August, 5% for critical and 12% for NLEM medicines with 2.29% increase in NLEM medicines most probably to offset loss of revenue from critical medicines. 78% medicines to be unaffected)

Pharma firms yet to begin billing under new GST rates


One return a month, not 3; rates lower than VAT: Adhia busts 7 GST myths

GST rollout: J&K stays out, gives itself, others a financial headache


June 2017 :

What is GST? Goods & Services Tax Law Explained with Facts & Examples

  1. Removal of Cascading Tax effect of VAT-on-VAT with each step in value addition chain. This reduces prices for end consumer as tax component of MRP doesn’t compound at each step of value chain (as it did under VAT+other taxes)
  2. Reduces money tied up in taxes paid to govt for components by businesses.
  3. Makes tax evasion too costly at any point in the value-chain, so a buyer will insist on legal taxed sale to avail input tax credit from govt.
  4. Ease of doing business with single GST tax replacing all kinds of taxes and related paperwork for sales tax, excise, VAT, customs etc. Especially useful in creating one single indian market instead of fiefdoms inside and outside state and national boundaries.
  5. Reduced chances of corruption as less laws to comply with and only a single tax to pay. No more long waits at border checkpoints by unscrupulous officials misusing myriad tax laws to seek bribes. GST overrides/subsumes all of them.

Non-implementation of GST would lead to financial chaos in J&K: Finance Minister Drabu

GST: Complete ready reckoner

All states sans J&K pass SGST Bill to keep date with July 1

GST Council meet clears 5 set of rules, defers e-way bill rule, relaxes deadline for filing returns

India to allow late filing in first two months of GST: Jaitley

Your GST checklist

GST attracts $3.55 billion of foreign capital through FPIs to India in June (investments in debt funds due to high interest rates in India vs US)


Railways asks GST Council to exempt internal supplies

GST Council forms 18 groups to sort IT, telecom, banking industry worries

GST to boost India’s export growth, says Sitharaman

Also, the refund mechanism has been fast-tracked with the assurance that amounts will be refunded within seven days of the receipt of complete application in most cases, and that all cases of exporters will be addressed within three days.

GST: How will GST impact the Indian real estate sector

GST roll-out: Centre expects to mop up Rs 55,000 crore by levying cess

How will GST impact MSMEs?

India Inc ready for July 1 GST roll-out: CEO poll

96% traders enrol to migrate to Goods and Services Tax (in Karnataka)

Cos scramble to hire GST specialists

GST in India versus GST in the other countries: What differentiates India

When GST Council discussed Manipur’s dried fish for half an hour

States complicate GST rollout with registration requirement

GST services tax rates: Hotels to be charged 12-18%; casinos, cinemas at 28%

Worried about GST rates? Know what gets cheaper and costlier from July 1

Common man items to get cheaper under GST; cars, consumer durables to attract 28% tax

  • Many GST Service Providers (GSP) like Tally are integrated into GST already. One of my friends said this will help in uploading required info to GSTN frontend.
  • Uploading of excel spread sheet is also a simple way to upload data that was anyway required previously.
  • Smartphone GST app to use mobile connectivity to link to GSTN.
  • The Front end or taxpayer centric UI is one thing and backend data storage another. Then there’s the data being shared with individual tax at department, state or central level.
  • GSTN had undertaken a “train the trainer” 2–3 days workshop for 2000 master-trainers where these people would go ahead and train nearly 60–65,000 people in their organisations.
  • Any given assessee will only be answerable to either state or centre. This lottery will be done by computer.
  • There’s an anti-profiteering clause which the govt can use to check fake bikes in prices.
  • GST software has been in the making for a long time now. Most of the code had been beta tested with real data by volunteering companies and accountants etc. The module with final tax slabs would be parameterized with exact slab percentage everything else being constant. At least that’s what I’ve gathered from the interview(s) of the GSTN head.

Hasmukh Adhia: Tax liability of businesses will be same or reduce under GST


GST transition may hit dealers, retailers hard (BS)


Source : India’s GST challenge makes Donald Trump’s tax overhaul look easy

A GST for India will in effect create one of the world’s biggest free trade areas. Its population of 1.3 billion is more than that of U.S., Europe, Canada and Australia combined and more states than the European Union’s 28 members.

The tax will replace at least 17 state and federal levies on everything from electricity to Gucci handbags to border crossings. From the powerful Uttar Pradesh with a population the size of Brazil to the tiny seaside region of Goa, India’s states currently set their own taxes and charge duties. The GST will sweep those away and harmonise the indirect tax system across the nation.

[Snip]

Other mass consumption items like spices are likely to attract a 5 percent rate while processed foods will be charged 12 percent. Household goods like soaps, toothpaste, and smartphones are likely to be in the 18 percent bracket while other durable goods such as air conditioners will attract 28 percent duties. Luxury goods such as tobacco will be taxed at a higher rate.


GSPs :

160 firms apply to become GST Suvidha Providers – The Economic Times

CSCs To Function As GST Suvidha Providers (servicing rural India MSMEs with 2.5L eSeva-like service centers for GST)

HP and KPMG introduce ‘GST solution’ for traders, MSMEs

Infosys, HDFC, Big 4 in queue with startups for GST Suvidha Providers licence

Tally Solutions Reaches Out to close to 10,000 CAs, 150,000 Businesses as part of GST Awareness Campaign


GST E-way bill :

June :

Image Source : E-way bill roll out can speed up delivery of online orders – Times of India

GST: Country-wide intra-state e-way bill system mandatory from 3 June – Firstpost

7 states/UTs to roll out intra-state e-way bill today – Times of India

April 2018 :

Over 17 lakh e-way bills generated in 3 days

Despite GST-E Way Bill, no relief from Inspector Raj so far: AIMTC

How the e-way bill will help plug revenue leaks

E-way bill agnipariksha :

What is E-way bill :

GST E-way bill: Why business across India came to a virtual stop on February 1 (intra-state E-way bills from 15 states in addition to inter state E-way bills crashes GST E-way bill site. E-way process deferred till technical glitch is fixed)

E-way bill system in GST to come from October – The Economic Times

As GST Council fails to reach consensus on e-way bill, state border checks may continue

Rules not ready, key e-way bill for GST may be delayed, says top official

Lack of Software May Delay GST E-Way Bill Implementation

E-way bill concern: Why moving goods under GST can come to a grinding halt

Courier cos say e-way bills defeat the GST spirit (eway bill tries to track every package, so trans shipment where bulk consignment is broken up into smaller consignments will add 3 times processing to logistics)

under the e-way bills framework, a new document is to be generated at every level of trans- shipment of an article and said the Rs 20,000-crore industry will end up doing 10 crore e-way bills per day for their 3 crore parcels.

[Snip]

“We operate on a hub and spoke model and there are at least 3-4 trans-shipments for every article that we deliver. This is an extremely impractical provision,”


GSTN :

No time for software testing now: GSTN chairman Navin Kumar

Using pilot feedback to refine system: GSTN chairman Navin Kumar

Now enforcement will be done by GST, customs officers with access to details (using e-way bill to track imports and check smuggling)

GSTN may steal thunder from GST-app makers

‘GSTN will see 300cr invoices monthly’ – Times of India

All tax data will be completely secure, GSTN assures India Inc

Mumbai Service Tax dept expects full migration to GSTN today – Times of India (31-Jan-2017)

GSTN arming itself against potential cyber attacks – The Economic Times

30 Lakh Enrolments Pending, 58,000 Taxmen To Be Trained Yet GSTN Confident Of July 1 Launch

GSTN’s Ownership, Accountability And The Challenge Of Working With A ‘Moving’ Target

India’s top tech architect talks about the tech behind GST, data empowerment | FactorDaily


GST will give all states a lot more money esp since the central govt had already increased state’s share of central funds and also the services tax part. Not to mention the easy flow of business that’s almost blasphemy in any good mind controlling socialist state.

But it is the power to stop, deny, delay, favour, destroy someone and their business that is given up in exchange by ALL states and centre. The power to choke someone’s life breath and life work. At every step and level from municipality to customs.

This is the ultimate corruption – to make people bow and scrape, to make them beg for their very breath, to hold court with pimps, touts and bhadvas and sneer at the very people and their lives they prey on like vultures. This is the ultimate wet dream of every License Raj controller.

All those magnificent corrupters in their miniscule fiefdoms and armed to the eyebrows with reptile brains. Reminds me of Jabba the Hutt and his slimy drool-drips. From the chaprasi to the very top. With govts like these who needs life sucking vampires.

What businesses​ get in return to paying GST is dignity and freedom from this corruption of the soul. The States get loads of lovely loot!! Win-Win!!


How GST can be passed through with all that territorial ferocity :

Barriers to GST (Indian Unified Taxation) – States vs Center by Gurudutt Mallapur on Abki Baar Modi Sarkaar