GST: Gifts by employer up to Rs 50000 exempt

India marches towards tax transparency: Modi

Allaying public fears on the new GST (Goods And Service Tax) regime, Union Minister for Urban Development and Information and Broadcasting M Venkaiah Naidu today said GST was a revolutionary reform and not a confusion as many sections consider.

A notification from the Union Finance Ministry said that airlines will not have to pay GST at the time of import. Reports suggest that this double taxation would have resulted in a loss of Rs 800 crore to the aviation industry on aircraft lease.

This may help them to know the exact GST rates on their supplies.

The government has undertaken a slew of initiatives to educate and familiarise both consumers and traders since it launched GST in an elaborate midnight function on June 30-July 1 in the Parliament's central hall which which broadcast live for the entire nation.

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The application is available on the Google Play store and its portrayal peruses: "A basic application to look through the different products and enterprises and their separate GST Rates and subtle elements". "Mobile app "GST Rates Finder" is available on android platform and will soon be available on iOS platform", Finance Ministry said in a tweet. At the portal, a taxpayer can search for applicable CGST, SGST, UTGST rate and the Compensation Cess on a particular supply.

According to the traders and freight forwarders, the authority at the Kolkata Port earlier used to impose 15 percent logistic service charge on goods imported from third countries. "It can be downloaded on any smart phone and can work in offline mode, once downloaded", informed ministry in a press release. He noted that authorities and businesses were "unprepared or under-prepared" for the tax regime and said its launch should have been deferred by two months, while the GSTN (goods and services tax network) should have been put on a trial run.

CBEC has launched the GST rates mobile app with the key goal of facilitating the ease of doing business in India initiative.

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