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GST ON CARPETS
From $300 to $8,500 freight: West Asia war squeezes UP MSMEs, delays stretch to 60 daysExporters report shipment delays of up to 60 days, 20-30% cost escalation, and growing order uncertainty due to the West Asia conflict.- Carpet industry welcomes GST compliance ease, but raises concerns over tax on finished productsThe Indian handmade carpet industry is a significant contributor to the economy, providing employment, directly or indirectly, to over 20 l...
- Budget home threshold may be hiked to Rs 55 lakhA GST Council panel proposes expanding the definition of affordable housing from ₹45 lakh to ₹55 lakh, potentially boosting the sector. The...
- GST clarification to make Indian MRO industry competitiveThe GST Council's recent decision to implement a uniform 5% tax rate on imports of aircraft parts and components is set to benefit India's ...
- Tamil Nadu: BJP flays CM Stalin for political speech, says GST Council example of cooperative federalism"The official function was about the developmental initiatives for Tamil Nadu. Our Chief Minister was expected to show grace, but he ended ...
- No clear definition of 'ongoing project' may lead to disputes under new GST rates for real estateLack of clear guidelines and apprehension of possible controversy around transition of unutilised input tax credit as on 31 March 2019, has...
- GST Council cuts rates sharply to make room for housing growthStarting April 1, homes under construction will be levied 5% GST, against 12%. For affordable homes, GST will drop to 1% from 8%.
- Would want better access to credit, prune the caution list of exporters: CEPC’s Mahavir Pratap Sharma"Since it is an interim budget, we assume that it will also be the financial manifesto of the current government and will show their intent...
- Developer asked to compensate home buyer for possession delayA group of home buyers, following the delay in the delivery of project Sheth Midori in Mumbai’s Borivali suburb, had moved the authority se...
- Buyers find ways to avoid steep GST on flats being builtNo GST on completed projects offers loophole and some builders have found this way out for the prospective homebuyers.
- Refund mechanism still a pain point for exportersMost of the problems relate to the refund of input tax credit that have to be made by the states as well. Manual intervention in the refund...
- Government considering more concessions to exportersThe carpet industry had demanded the duty to be brought down from the existing 12% to 5% to make Indian carpets competitive internationally.
- Carpets may see cut in GST rate from 12% to 5%Carpets were earlier exempted from local taxes, and currently face 12% GST, which states say has made the sector uncompetitive and led to w...
- Exporters to take up quick GST refund issue with Finance Minister Arun Jaitley tomorrowExporters flagged their concerns over the liquidity crunch and the loss of competitiveness of India’s exports on account of the refund proc...
- Government reduces GST on work contracts for affordable homesIn a notification issued on Tuesday, the government reduced the GST on composite supply of work contracts for affordable housing to 12 % fr...
- GST glitches may hit pricing, new orders: ExportersIndia exports close to Rs 10,000 crore of handmade carpets each year. The apparel sector too is feeling the stress, especially because of t...
- GST cut to boost cotton, woollen but prices remain unaffectedThe GST Council has reduced the rate to 5% from the initially decided 18% on August 5. The move is expected to boost domestic business and ...
- GST has hit carpet exports, livelihoods of 20 lakh workers: CEPCThe Carpet Export Promotion Council (CEPC) based its findings on feedback received from various carpet manufacturers and exporters associat...
- FIEO for analysis of sectors with low or negative growthFederation of Indian Export Organisations (FIEO) said that 15 out of 30 major product groups have shown negative growth in June.
- Budget 2011: Education becomes expensiveGet ready to shell out more for your kid’s educational and stationery products like crayons, pencils, pens, notebooks and mathematical boxe...
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