Also, the groups will highlight specific issues for the smooth transition of the respective sector to the GST regime and prepare sector-specific draft guidance.

"Digital workplace" is the new mantra for enterprises and businesses as IT leaders are focused on building an agile infrastructure that can address the needs of changing workforce demographics and transform their digital strategies.

Millennials want to know not only the origin of the goods they are buying, but also what exactly they are paying for.

The Government's aim has always been to encourage the education industry which is well reflected through the various exemptions being notified through Service tax and Value Added Tax laws.

ET has seen emails that the companies have sent to dealers promising financial support, the quantum of which depends on factors such as meeting sales target.

The fear emanates from liquidation of inventory and heavy promotions in June ahead of the goods and services tax (GST) being put in place on July 1.

The rules approved by the GST Council provide that "every registered person shall, within 90 days of the appointed day, submit a declaration electronically".

Whether cotton, jute or silk, the textile sector should have a five per cent GST, A Madhukumar Reddy, Jt Secretary, Ministry of Textiles, said.

The industry has often been vocal about the differential tax treatment meted out to cement as compared to steel which together comprise of the most essential ingredients for infrastructure development.

Based on a study by the Indian Brand Equity Foundation (IBEF), the clothing industry is expected to move from Rs 4,329 crore in 2014 to an estimated Rs 9,110 crore by 2021.

A trader would be eligible to avail credit of the GST payable on their domestic procurements of both goods and services required for operation of business, unlike the present indirect tax regime.

On the whole, the IT ITES industry will certainly benefit from these, along with the rest of the Indian industry. However, the draft GST law as it is today also throws up some concerns for this industry.

India has become the fastest-growing economy in the world. The next logical steps are to make this trend sustainable and to ensure that the benefits of this growth percolate down to the lowest rungs of the income hierarchy.

From July 1, the invoices you raise will change. Here is how you can make an invoice that is in sync with the requirements of GST.

One of the biggest tax reforms comes into effect next month but many small businesses, entrepreneurs and self-employed professionals are not prepared.

Invoice matching can effectively avoid fraud claims. So why does the GST insist on linking input credit to the payment of tax by the supplier?

On June 2, the GST Council fixed a GST rate of 3 per cent on silver, gold jewellery and processed diamonds, which is higher than the industry estimate

While the tax on branded apparels (textiles) is not known, a revenue neutral rate for apparel industry would be 12-15 per cent, the report by CARE Ratings said.

Nuts and dry fruits industry leaders have cited health benefits of dry fruits when they had written to PM Modi to exempt them from taxes under the new GST provision.

The minister has also forwarded Coca-Cola India's demand not to include fizzy drinks in the 'sin' category under the GST to be rolled out from July 1.