"GST implementation"

#2072378

12 July 2017

Cloth merchants and workers shout slogans and pulling the Rickshaw at Burrabazar during the strike against GST in Kolkata , India on Wednesday, 12th July , 2017.Cloth merchants go on nationwide strike beginning June 27 in protest of 5 per cent GST (Goods and Services Tax) levied on the services (job work) rendered by them for the textile industry. Textile traders protest against ‘complex, confusing’ GST (Goods and Service Tax) rules in all over the country.

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#2072379

12 July 2017

Cloth merchants and workers shout slogans and pulling the Rickshaw at Burrabazar during the strike against GST in Kolkata , India on Wednesday, 12th July , 2017.Cloth merchants go on nationwide strike beginning June 27 in protest of 5 per cent GST (Goods and Services Tax) levied on the services (job work) rendered by them for the textile industry. Textile traders protest against ‘complex, confusing’ GST (Goods and Service Tax) rules in all over the country.

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#2072380

12 July 2017

Cloth merchants and workers shout slogans and pulling the Rickshaw at Burrabazar during the strike against GST in Kolkata , India on Wednesday, 12th July , 2017.Cloth merchants go on nationwide strike beginning June 27 in protest of 5 per cent GST (Goods and Services Tax) levied on the services (job work) rendered by them for the textile industry. Textile traders protest against ‘complex, confusing’ GST (Goods and Service Tax) rules in all over the country.

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#2060815

5 July 2017

A Man carry Subsidised LPG cylinder during Subsidised LPG cylinder price to spike post GST on July 05,2017 in Kolkata,India.Domestic cooking gas price has been hiked by up to Rs 32 per cylinder - the steepest increase in six years - following implementation of the Goods and Services Tax (GST),Subsidised LPG rates have been increased to Rs 477.46 per 14.2-kg cylinder from Rs 446.65 in Delhi after GST was implemented from July 1. In the previous indirect tax regime where separate factory-gate duty and sales tax were levied, LPG attracted a zero or nil excise duty all over the country. VAT or sales tax was nil in Delhi as well as Chandigarh, Haryana, Jammu and Kashmir, Rajasthan, Tamil Nadu, Uttar Pradesh, West Bengal and some north-eastern states. It ranged from 1 per cent to 5 per cent in other states. However, under GST, which subsumed more than a dozen central and state levies, a 5 per cent tax was levied on subsidised LPG. This essentially meant that states where VAT was nil or less than 5 per cent, rates have gone up. Besides Delhi, subsidised LPG Price has been hiked by Rs 31.67 per cylinder to Rs 480.32 in Kolkata and Rs 31.41 in Chennai to Rs 465.56, according to information available from oil companies.In Mumbai, where a VAT of 3 per cent was applicable previously, the price has gone up by Rs 14.28 to Rs 491.25 per cylinder.

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#1996362

3 June 2017

The Residency tower in kolkata New Town on June 02,2017.With the announcement of the rates for taxation under the Goods and Services Tax (GST) for various goods, India is now one step closer to becoming a unified tax market. However, while the impact of GST on various sectors and goods is now known, industry experts are still divided over how GST will impact real estate going ahead as clarity on the tax slabs for services is still awaited. According to industry experts, prima facie it looks like that there will be a neutral impact from cost perspective. Although the work contracts will attract around 12% and most of the construction material is under the 18% and 28% slab, the availability of input tax credit should neutralize the overall impact. A lot, therefore, will depend on the proper implementation and a proper system of claiming tax credits. the Real Estate Development and Regulation Act (RERA) also under implementation, developers may need to focus much more on streamlining their processes. We may expect initial teething issues, but implementation of GST should further enhance India’s attraction as an investment destination by encouraging greater transparency and ease of operation in all property deals,” says Surabhi Arora, Senior Associate Director, Research, Colliers International India.

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#1996366

3 June 2017

The Residency tower in kolkata New Town on June 02,2017.With the announcement of the rates for taxation under the Goods and Services Tax (GST) for various goods, India is now one step closer to becoming a unified tax market. However, while the impact of GST on various sectors and goods is now known, industry experts are still divided over how GST will impact real estate going ahead as clarity on the tax slabs for services is still awaited. According to industry experts, prima facie it looks like that there will be a neutral impact from cost perspective. Although the work contracts will attract around 12% and most of the construction material is under the 18% and 28% slab, the availability of input tax credit should neutralize the overall impact. A lot, therefore, will depend on the proper implementation and a proper system of claiming tax credits. the Real Estate Development and Regulation Act (RERA) also under implementation, developers may need to focus much more on streamlining their processes. We may expect initial teething issues, but implementation of GST should further enhance India’s attraction as an investment destination by encouraging greater transparency and ease of operation in all property deals,” says Surabhi Arora, Senior Associate Director, Research, Colliers International India.

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#1996370

3 June 2017

The Residency tower in kolkata New Town on June 02,2017.With the announcement of the rates for taxation under the Goods and Services Tax (GST) for various goods, India is now one step closer to becoming a unified tax market. However, while the impact of GST on various sectors and goods is now known, industry experts are still divided over how GST will impact real estate going ahead as clarity on the tax slabs for services is still awaited. According to industry experts, prima facie it looks like that there will be a neutral impact from cost perspective. Although the work contracts will attract around 12% and most of the construction material is under the 18% and 28% slab, the availability of input tax credit should neutralize the overall impact. A lot, therefore, will depend on the proper implementation and a proper system of claiming tax credits. the Real Estate Development and Regulation Act (RERA) also under implementation, developers may need to focus much more on streamlining their processes. We may expect initial teething issues, but implementation of GST should further enhance India’s attraction as an investment destination by encouraging greater transparency and ease of operation in all property deals,” says Surabhi Arora, Senior Associate Director, Research, Colliers International India.

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#1996373

3 June 2017

The Residency tower in kolkata New Town on June 02,2017.With the announcement of the rates for taxation under the Goods and Services Tax (GST) for various goods, India is now one step closer to becoming a unified tax market. However, while the impact of GST on various sectors and goods is now known, industry experts are still divided over how GST will impact real estate going ahead as clarity on the tax slabs for services is still awaited. According to industry experts, prima facie it looks like that there will be a neutral impact from cost perspective. Although the work contracts will attract around 12% and most of the construction material is under the 18% and 28% slab, the availability of input tax credit should neutralize the overall impact. A lot, therefore, will depend on the proper implementation and a proper system of claiming tax credits. the Real Estate Development and Regulation Act (RERA) also under implementation, developers may need to focus much more on streamlining their processes. We may expect initial teething issues, but implementation of GST should further enhance India’s attraction as an investment destination by encouraging greater transparency and ease of operation in all property deals,” says Surabhi Arora, Senior Associate Director, Research, Colliers International India.

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#1996376

3 June 2017

The Residency tower in kolkata New Town on June 02,2017.With the announcement of the rates for taxation under the Goods and Services Tax (GST) for various goods, India is now one step closer to becoming a unified tax market. However, while the impact of GST on various sectors and goods is now known, industry experts are still divided over how GST will impact real estate going ahead as clarity on the tax slabs for services is still awaited. According to industry experts, prima facie it looks like that there will be a neutral impact from cost perspective. Although the work contracts will attract around 12% and most of the construction material is under the 18% and 28% slab, the availability of input tax credit should neutralize the overall impact. A lot, therefore, will depend on the proper implementation and a proper system of claiming tax credits. the Real Estate Development and Regulation Act (RERA) also under implementation, developers may need to focus much more on streamlining their processes. We may expect initial teething issues, but implementation of GST should further enhance India’s attraction as an investment destination by encouraging greater transparency and ease of operation in all property deals,” says Surabhi Arora, Senior Associate Director, Research, Colliers International India.

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#1996381

3 June 2017

Indian Labor work a road side hoarding on June 02,2017 in Kolkata,India.The taxation process for the advertising agencies can get complicated with the implementation of a new tax regime under GST. Some even believe that the service industry can come under inflationary pressures and that it may actually make things much more complicated, particularly for advertising agencies operating in multi states because there will be a Central GST and State GST, which may increase the complexity rather than ease it,The Goods and Services Tax (GST) regime is just a few months away and the debate around its impact on various sectors is getting shrill again. Under the GST regime, the entire concept of taxing services will get changed. Seen as the biggest tax reform in India, GST will subsume most of the indirect taxes.According to Saumin Shah, CFO, Hungama Digital Media Entertainment, the implementation of a new tax order will benefit businesses across sectors and lead to more ad spends. “The expected growth in India’s GDP by over 8% on the back of efficiencies coming out of GST roll out will lead to increase in advertising spends, with a greater pie for digital advertising. Businesses across sectors will be benefited on account of a single levy and better claim of Input tax credits, which may be ploughed back into advertising. Digital advertising will benefit the most in the overall advertising space as it continues to grow exponentially with massive increase in consumers on digital platforms,” he said. The Finance Ministry, in a statement, has stated that services by way of admission to entertainment events or cinematography films in cinema theatres will attract 28% GST with effect from July 1.

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#1996382

3 June 2017

Indian Labor work a road side hoarding on June 02,2017 in Kolkata,India.The taxation process for the advertising agencies can get complicated with the implementation of a new tax regime under GST. Some even believe that the service industry can come under inflationary pressures and that it may actually make things much more complicated, particularly for advertising agencies operating in multi states because there will be a Central GST and State GST, which may increase the complexity rather than ease it,The Goods and Services Tax (GST) regime is just a few months away and the debate around its impact on various sectors is getting shrill again. Under the GST regime, the entire concept of taxing services will get changed. Seen as the biggest tax reform in India, GST will subsume most of the indirect taxes.According to Saumin Shah, CFO, Hungama Digital Media Entertainment, the implementation of a new tax order will benefit businesses across sectors and lead to more ad spends. “The expected growth in India’s GDP by over 8% on the back of efficiencies coming out of GST roll out will lead to increase in advertising spends, with a greater pie for digital advertising. Businesses across sectors will be benefited on account of a single levy and better claim of Input tax credits, which may be ploughed back into advertising. Digital advertising will benefit the most in the overall advertising space as it continues to grow exponentially with massive increase in consumers on digital platforms,” he said. The Finance Ministry, in a statement, has stated that services by way of admission to entertainment events or cinematography films in cinema theatres will attract 28% GST with effect from July 1.

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#1996383

3 June 2017

Indian Labor work a road side hoarding on June 02,2017 in Kolkata,India.The taxation process for the advertising agencies can get complicated with the implementation of a new tax regime under GST. Some even believe that the service industry can come under inflationary pressures and that it may actually make things much more complicated, particularly for advertising agencies operating in multi states because there will be a Central GST and State GST, which may increase the complexity rather than ease it,The Goods and Services Tax (GST) regime is just a few months away and the debate around its impact on various sectors is getting shrill again. Under the GST regime, the entire concept of taxing services will get changed. Seen as the biggest tax reform in India, GST will subsume most of the indirect taxes.According to Saumin Shah, CFO, Hungama Digital Media Entertainment, the implementation of a new tax order will benefit businesses across sectors and lead to more ad spends. “The expected growth in India’s GDP by over 8% on the back of efficiencies coming out of GST roll out will lead to increase in advertising spends, with a greater pie for digital advertising. Businesses across sectors will be benefited on account of a single levy and better claim of Input tax credits, which may be ploughed back into advertising. Digital advertising will benefit the most in the overall advertising space as it continues to grow exponentially with massive increase in consumers on digital platforms,” he said. The Finance Ministry, in a statement, has stated that services by way of admission to entertainment events or cinematography films in cinema theatres will attract 28% GST with effect from July 1.

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#97274

1 May 2014

Protestors shouts slogans during a protest against the implementation of the Goods and Services Tax (GST) in Kuala Lumpur, Malaysia, Thursday, May 1, 2014.

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#97266

1 May 2014

A protestor watches the traffic during a protest against the implementation of the Goods and Services Tax (GST) in Kuala Lumpur, Malaysia, Thursday, May 1, 2014. The words on the t-shirts reads : "Developing the peoples victory."

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#97267

1 May 2014

Volunteers walks towards the Independence Square during a protest against the implementation of the Goods and Services Tax (GST) in Kuala Lumpur, Malaysia, Thursday, May 1, 2014.

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#97270

1 May 2014

Unidentified Malaysian women hold up placards during a protest against the implementation of the Goods and Services Tax (GST) in Kuala Lumpur, Malaysia, Thursday, May 1, 2014. The placards read : "Against GST" and " GST is a burden to the people."

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