Free GST Updates – 24th &25th Feb 2017

  1. 24th Feb is celebrated as central excise day. On this occasion, B. Hareram (Commissioner of Central Excise, Customs and Service Tax ) said that :
    1. Even in GST Era, the Excise Act will continue, as products under smoking and non-smoking categories and petroleum-oil-lubricant (pol) products, including industrial alcohol, will continue to attract Central Excise. Also in case of tobacco products, they will attract both Central Excise and GST
    2. The Tax collection will go up in GST era as every invoice is linked to tax credit.
  2. N Chandrababu Naidu (Andhra Pradesh CM ) will soon write letter to Union Government seeking:
    1. Removal of the jurisdiction of territorial waters from state government. He has objected to the new provision that prohibited them to levy tax on Value Added Tax (VAT) on transactions taking place in territorial waters extending up to 12 nautical mile.

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