The Asian Chronicle

WHAT'S NEW IN GST THIS WEEK? ​​Automobile Companies Slash Prices Post-GST The second day of the GST-regime saw many automobile companies cut down prices on the goods produced and sold after July 1st. Japanese auto dealer Toyota has slashed prices by 13%, while ... Read More    Prices will Come Down Due to Competition​: Govt ​The government has said that it will not use any ‘hammer’ tactics to ensure​​ prices remain low. In fact, most of the companies will automatically bring down their rates due to market forces. Several white ​... Read More    GST Extended to Jammu and Kashmir ​The President today gave his nod to an order that provides for the implementation of the Goods and Services Tax in the state of Jammu and Kashmir. The J&K state government had passed a resolution on Wednesday​... Read More    Govt. Looking to Fast Track Reimbursement Scheme For Industries ​Tax exemptions, as applied under the VAT rule...

CAIT celebrates faster adoption of GST during day long traders meet ~Trade leaders meet at New Delhi today assess first 7 days of GST~ The Confederation of All India Traders (CAIT) celebrates faster adoption of Goods & Service Tax (GST) regime among traders, during a day long meet of prominent trade leaders of different States held at New Delhi today. Calling GST, a first concrete step towards economic democracy to liberalise traders from the clutches of vicious net of multiple taxes & Authorities, the trade leaders called upon the GST Council to remove disparities, anomalies & contradictions in different tax slabs as also rationalise and simplify procedures under GST to promote voluntary compliance in a cohesive manner. Trade leaders from 23 States attended the meet and in a unanimous resolution urged the Government to form GST Coordination Committee at District level comprising of senior officials & representative of Trade. Trade leaders while assessi...