Union Cabinet Clears Setting Up Of GST Anti-Profiteering Authority

The Union Cabinet has approved setting up of a National Anti-profiteering Authority under the GST, as it seeks to ensure that consumers get the benefit of reduced prices under the new indirect tax regime.

The government has exempted businesses from deducting GST on advances received for supplying goods in future

This reflects government's full commitment to take all possible steps to ensure benefits of implementation of GST to the common man, said Union Minister Ravi Shankar Prasad.

Recapitalisation will help redress the twin balance sheet problem and revive private investment, said the finance minister.

The move will help in fast-tracking clearance of dues to ease liquidity stress faced by exporters.

When new GST rates came into effect yesterday, consumers were hoping to see their restaurants bill be considerably lower but were shocked when they found the food bills didn't drop as drastically as they expected them to.

Congress leader Sachin Pilot on Wednesday said that there was a feeling among common people that the BJP-led NDA government has failed to deliver on its promises.

If bindi, sindoor and kajal are kept out of the ambit of the GST, why cannot the sanitary napkins be exempted, the Delhi High Court asked the Centre today.

Hindustan Unilever (HUL) and ITC said they are in the process of reducing prices of commonly used items to pass on the benefits to consumers.

Last week the government cut the tax payable on about 200 items and eased filing norms after it was criticized by some for a chaotic roll-out as companies grappled with the multi-tier structure and onerous reporting system.

If it's 'Gabbar Singh Tax', then why has it been implemented by the states that are ruled by the Congress? They could have boycotted the GST Council.

Former Union Finance Minister and senior Congress leader P Chidambaram on Tuesday asked Prime Minister Narendra Modi to explain about the jobs he had promised to create in the run-up to the 2014 general elections.

Criticising Union Finance Minister Arun Jaitley over imposing a "deeply flawed" Goods and Service Tax (GST), BJP veteran Yashwant Sinha Tuesday said countrymen can rightly demand he quit for the hardships caused and also felt he is a "burden" on the people of Gujarat.

After reducing rates of the new national tax GST on many items, the Goods and Services Tax council may further slash rates depending on the revenue situation, Assam Finance Minister and the council's member Himanta Biswa Sarma said in Guwahati today