GSTN gets home ministry security clearance

Claudine Rigal
Juillet 6, 2017

GST incurred on taxable business purchases and expenses is known as input tax. "And we are urging the government to follow global standards".

He said the first half of 2017 witnessed the resurrection of affordable housing across India with 71 per cent of the launches under the Rs 50 lakh price segment, up from 52 per cent during the same period previous year. "This way, we ended up paying Rs 16 more.When I asked the manager, he said the tax on cakes and pastries had gone up from 14.5% to 18%", said a customer, reported TOI. He then included the GST amount as part of its GST return for the account accounting period which ended in September 2013. While one goes to Centre, the other goes to the State.

Post midnight on 1st July, India was experiencing its biggest ever tax reform post Independence.

Jagdish spoke to ANI, "The day Prime Minister Narendra Modi announced Goods and Service Tax (GST) reform as a tax revolution on July 1, my daughter was born". Earlier, the service tax rate for these services was 15 per cent. While there's confusion, the policymakers have betted on it saying that it would boost exports, create more jobs, promote manufacture, and improve the investment climate of the country.

This was not the first time the company has landed itself in hot water. "If additional tax burden is passed on, then sales will further dip", he said.

Speaking in court, IRAS's senior tax prosecutor Tham Siok Peng - who sought an eight-week jail term - said GST evasion offences are "grave offences" and that Taramelli's actions were deliberate, adding that a fine would be "manifestly inadequate".

Home Ministry has given security clearance to the Goods and Services Tax Network, GSTN, paving the way for its operationalisation soon.

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