#GoodsandServicesTax hashtag - Bluesky

@letsdiskuss00.bsky.social

2 months ago

Fundamental Information on GST: A Complete Guide Explained Explore fundamental GST concepts, including registration, rates, filing returns, and compliance, in this complete guide to help businesses navigate GST easily.

Understanding GST in India doesn’t have to be complicated!
From GST meaning and types to registration, ITC, returns, and compliance, this complete guide explains everything in one place. 🇮🇳

Read now: www.letsdiskuss.com/post/fundame...

#GSTIndia #GoodsAndServicesTax #GSTGuide #GSTRegistration

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Wiobs

@wiobs.bsky.social

6 months ago

New GST Rates Take Effect from September 22 - India’s new GST rates, effective September 22, simplify taxation, reduce costs on essentials, and promise economic

New GST Rates Take Effect from September 22 wiobs.com/new-gst-rate... #GSTReform #IndianEconomy #TaxRelief #GoodsAndServicesTax #ConsumerSavings

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Robert Antoshak

@agathonian.bsky.social

7 months ago

NITMA seeks uniform 5% GST on polyester staple fibre and polyester spun yarn GST rate on PSY must be reduced from 12 to 5 per cent (to align with fabric which is already taxed at 5 per cent), and PSF from 18 to 5 per cent as otherwise the inverted duty anomaly will become unworkable for the spinning industry. With the onset of embargo-like tariffs imposed by the United States—among the highest in the region—India’s textile sector faces a formidable challenge in maintaining its global competitiveness. In response, the Northern India Textile Mills Association (NITMA) has urged the GST Council to implement a uniform 5 per cent Goods and Services Tax (GST) rate on key inputs in the man-made fibre (MMF) value chain. Speaking ahead of the upcoming GST Council deliberations scheduled for September 3–4, 2025, Sidharth Khanna, President, NITMA, emphasised the urgent need to eliminate the inverted duty structure currently affecting the MMF segment. He called for a rationalised GST rate of 5 per cent on the following items: * Polyester Staple Fibre (Virgin & Recycled) – HSN 55032000 * Polyester Spun Yarn – HSN 55092100 & 55092200 GST rate on PSY must be reduced from 12 to 5 per cent (to align with fabric which is already taxed at 5 per cent), and PSF from 18 to 5 per cent as otherwise the inverted duty anomaly will become unworkable for the spinning industry. He highlighted that if yarn is taxed at 5 per cent and fibre at 18 per cent, then the following burdens will fall on the industry: * Huge Blockage of working capital in GST refunds. * Administrative hurdles and Inspector Raj issues during refund claims. * Higher cost of fresh investment as input tax credit of 18% on capital goods remains unutilized. * Loss of SGST incentives offered by state governments. * Unfair competition from imported finished goods that bypass these inefficiencies. Khanna concluded with a strong appeal to the GST Council, “This is a critical moment for India’s textile sector. Decisive action to remove the inverted duty structure will not only counteract the impact of U.S. tariffs but also unlock growth and investment across the MMF value chain, thereby ultimately making this event a blessing in disguise.” The post NITMA seeks uniform 5% GST on polyester staple fibre and polyester spun yarn appeared first on Indian Textile Journal.

#FibresRawMaterials #GoodsandServicesTax

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Rizz Demo

@rizzdemo.bsky.social

7 months ago

Finance Ministry: More than 1,800 items exempted under SST, triple the number under GST KUALA LUMPUR, Aug 20 — The Finance Ministry (MOF) said the Sales and Service Tax (SST) covers a larger number of exempted or zero-rated items compared to the former Goods and...

Finance Ministry: More than 1,800 items exempted under SST, triple the number under GST #financeministry #goodsandservicestax #madanieconomyframework #malaysiastandardindustrialclassificationcodes #salesandservicetax #yuneswaranramaraj

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Rizz Demo

@rizzdemo.bsky.social

7 months ago

SST expansion and carbon tax coming as govt aims for a fairer, greener future, says Amir Hamzah KUALA LUMPUR, Aug 19 — The government made the decision to maintain the Sales and Service Tax (SST) with an expanded scope after considering both SST and the Goods and Services...

SST expansion and carbon tax coming as govt aims for a fairer, greener future, says Amir Hamzah #amirhamzahazizan #carbontax #goodsandservicestax #gst #salesandservicetax #sst

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@panathottamoffl.bsky.social

1 year ago

GST - ல இத பண்ணாம விட்டா Penalty -அ ?

Website Link: panathottam.com
Contact: panathottam.com?page_id=1376

GST Number: 9025130035

#GST #GoodsAndServicesTax #Taxation #GSTExplained #GSTIndia #Finance #BusinessTax #TaxSystem