Search Results for: Hasmukh Adhia

GST Return Filing: Why are central staff lagging states, asks Union Finance Secretary Hasmukh Adhia

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With the GST Network, the IT backbone for the goods and services tax (GST), turning out to be a repository of centralised data on taxpayer compliance, a facility that was not available in the previous regime, the performance of tax authorities has come into sharper focus. After reviewing the GSTN data, Union finance secretary Hasmukh Adhia has recently written to the Central Board of Indirect Taxes and Customs (CBIC), lamenting that “the performance of central government officers in all states…

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GST rates need to be overhauled to reduce burden on small firms : Hasmukh Adhia

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Policymakers are considering steps to ease the compliance burden related to the goods and services tax (GST) on small businesses and to make product classification for taxation less complicated, said revenue secretary Hasmukh Adhia. The simplification process may result in some readjustment of tax rates, including a possible reduction in some items that attract the highest tax slab of 28%. Products are now classified into various subcategories—in many cases, different subcategories fall in different tax slabs—under a code called the…

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Items In 28% GST Rate Slab Needs To Be Pruned, Says Hasmukh Adhia

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The number of goods in the highest 28 per cent GST slab would be brought down and a committee of officers will calculate the revenue impact before going in for further reduction in tax rates, Revenue Secretary Hasmukh Adhia said today. “It is required, the fitment of rates which has happened is mainly based on excise and VAT,” he said when asked if the GST Council is considering pruning of the number of items in 28 per cent tax bracket….

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Post GST: Eateries must cut rates of food items, says Hasmukh Adhia

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Restaurants, hotels and eateries should cut rates on food items in their menu to reflect the benefit of being able to set off tax paid on inputs under Goods and Services Tax (GST), Revenue Secretary Hasmukh Adhia said. He also said that GST will be levied on total food bill, including service charge, in a restaurant, while the value of alcohol or alcohol products consumed in a restaurant will attract value-added tax (VAT). “Most of the restaurants should revise downward…

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Revenue Secretary Hasmukh Adhia busts 7 myths on GST

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Revenue Secretary Hasmukh Adhia took to Twitter on Sunday to bust “seven myths” that were doing the rounds about the new tax regime. Adhia, the architect behind the country’s largest tax reform, sought to dispel concerns that if a person makes payment of utility bills by credit cards, the he/she will be paying GST twice. “This is completely untrue. Please do not recirculate such message without checking it with authority,” Adhia said. India ushered in the Goods and Services Tax…

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61 lakh taxpayers enrolled under GST, says Hasmukh Adhia

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Ministry of Finance on Thursday informed Hasmukh Adhia, Revenue Secretary, held a detailed review meeting for smooth roll out of Goods and Service Tax (GST) from July 1, 2017. Adhia reviewed the progress on enrollment of existing taxpayers. As on 30th April 2017, when Phase-1 of enrollment was closed, 60.5 lakh taxpayers out of 84 lakh had enrolled. The enrollment window will be re-opened for 15 days from 1st June,2017 to give another opportunity to taxpayers to enroll. Ahead of…

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GST To Result In Price Reduction For Consumers: Hasmukh Adhia

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The Centre and states have concurrent powers to levy GST and the new indirect tax regime will result in reduction of prices for consumers and broaden the tax base, Revenue Secretary Hasmukh Adhia said on Monday. At a workshop on Goods and Services Tax (GST) organised under the Speaker’s Research Initiative (SRI) in Parliament Library Building on Monday, Adhia explained how the existing multiple taxes at the central and state level will be merged into a single tax. “The workshop…

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Govt making all efforts to make GST foolproof against evasion: Adhia

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Finance secretary Hasmukh Adhia today said government is making all efforts to make the GST regime “fullproof” with the help of technology to check all possibilities of tax evasion. Addressing a state-level seminar on GST, the top finance ministry official said, “GST is an end-to-end IT-based tax system. We are making all efforts to make it full proof with the help of technology. “A technology-based tax system will prevent tax evasion. We are also making efforts in the direction of making…

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India to keep July 1 Date with GST, Revenue Secretary Adhia Trashes Delay Rumours

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Rumours of a delay in the implementation of the Goods and Services Tax (GST) are false, Revenue Secretary Hasmukh Adhia tweeted on Tuesday morning. The ambitious ‘one nation, one tax’ regime is set to come into effect on July 1 with few states, including West Bengal, yet to move the GST Bill in the Assembly. The state’s finance minister, Amit Mitra, has demanded that the rollout date be postponed by a month, objecting to the tax scheme in its current…

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GST: Focus shifts to enforcement actions, returns, refund simplification

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It faced a huge political backlash and became the butt of jokes with opponents calling it ‘Gabbar Singh Tax’, but weathered all of it in 2018 and its proponents are confident the GST is fast emerging as a strong tax-compliance tool and may eventually evolve into a single-slab taxation rate. Dismissing the criticism that it was a ‘good law, badly implemented’, the those in support point out it took two years for a GST to be implemented in Malaysia —…

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