Maharaja Sayajirao University needs a course on GST: HRD minister Prakash javadekar

With taxes taking the limelight these days, Union Human Resource Development minister Prakash Javadekar has suggested that Goods and Services Tax (GST) should be taught as a course at Maharaja Sayajirao University in Vadodara, Gujarat.

The union minister further commented that such a course will be beneficial for tax and finance professional who would be required to understand the topic. The Central GST And Central Excise Department had organised an ‘outreach programme’ to spread awareness about the new tax regime where Javadekar expressed that the tax is “a step in the direction of economic development of the country”.

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“There has been a seamless transition to Goods and Services Tax after it was rolled out on July 1,” he said. The importance of developing an understanding among the youth about GST has come to the attention of a number of universities including the University of Delhi which has planned to include GST in the curriculum of B Com (Hons), B Com and B A Programme.

DU students of B Com (Hons) will be studying GST and Customs Law in the sixth semester while students of B Com will study it in the fifth semester and BA programme students will come across the topic in papers 3 and 4.

GST may become part of DU syllabus

The Delhi University is planning to introduce Goods and Services Tax (GST) subjects for students studying B Com (Hons), B Com and BA Programme.

The university’s academic council has cleared the proposal and is awaiting a nod from the executive council, officials said.

“Students used to study taxation in three streams — B Com (Hons), B Com and BA Programme commerce-based papers. According to the new proposal, GST will replace the content on other indirect taxes,” said Sunaina Kanojia, an academic council member.


According to the proposal, students of B Com (Hons) in the sixth semester will be studying GST and Customs Law as a second paper.

Students of B Com will study it in the fifth semester as a second paper with the same title.

In the BA Programme, students will be studying GST in two papers (paper 3 and paper 4). It will be compulsory only for those BA Programme students who have Taxation as an optional subject.

“All the papers will carry 100 marks and it will be compulsory for students of B Com, B Com (Hons) and B A Programme, who choose Taxation as optional (subject),” said Kanojia, an associate professor in the Delhi School of Economics.

On July 1, the GST, which subsumes a range of state and central taxes, was enforced by the Narendra Modi government across the country.

Professor Rajesh Jha, a member of the executive council, said the proposal will most likely be cleared in the upcoming EC meeting, scheduled on July 14.

GST Effect: Isuzu MU-X, V-Cross, D-Max Prices Reduced By Up To 12 Per Cent

Known for its highly capable utility vehicles, Japanese carmaker Isuzu has announced a price reduction across its model line-up in the country. The Isuzu MU-X, D-Max V-Cross pick-up and the D-Max range get a price reduction across the country as part of the company’s efforts to pass on the GST benefits to customers. The automaker’s flagship offering, the Isuzu MU-X now starts at ₹ 22,38,358 for the base 4×2 variant (ex-showroom, Chennai), a reduction of about 8 per cent in the city.

Apart from the MU-X, the Isuzu D-Max V-Cross has seen a price reduction of 6 per cent in Chennai and now starts at ₹ 12,67,111 (ex-showroom, Chennai). Meanwhile, the Isuzu D-Max S-Cab and D-Max regular cab range of commercial pick-up trucks now start at ₹ 8.01 lakh and ₹ 6.81 lakh (ex-showroom, Chennai) respectively.


SUVs have been the biggest gainers under the new GST regime as taxes on all SUVs larger than 4 metres saw a reduction of 12 per cent, down from 55 per cent under the pre-GST regime to 43 per cent (28 per cent tax + 15 per cent cess). While prices for other cities are yet to be announced, expect to see a sizeable difference in prices of the Isuzu offerings in markets like Mumbai and Bangalore, where the pre-GST taxes were much higher.

A similar difference has also been visible in the prices of other SUVs. The Toyota Fortuner received a price drop as high as ₹ 2.17 lakh, while prices on the Toyota Innova Crysta have reduced by almost ₹ 1 lakh. The Ford Endeavour, on the other hand, received a price reduction of around ₹ 1.5 lakh, which certainly adds to its capabilities. We expect Isuzu to share the pan India price list of its complete model range in a few days, so make sure to keep watching this space to check out the exact prices in your city.


GST Effect: Tata Motors Announces Price Reduction For Its Commercial Vehicle Range

Having extended the GST benefits for its passenger vehicle customers, Tata Motors has now announced that it will be extending benefits under the new tax slab towards its commercial vehicle business as well. Following the roll out of GST, the company has decided to pass on the entire benefit to customers on the ex-showroom prices. Tata’s commercial vehicle range for cargo with a price reduction between 0.3 per cent and 4.21 per cent, while commercial vehicles for passenger transportation will see a reduction between 0.6 per cent and 8.2 per cent.

In a statement, Tata Motors – Head of Commercial Vehicle Business Unit, Girish Wagh said, “We wholeheartedly welcome the initiative by the Union Government for introducing GST thereby bringing in one uniform tax across the country. This will bring about significant gains to the country’s economy and advantages for the stakeholders while enhancing the ease of doing business. We are confident that the post-GST price reduction will enable the customers to bring down their cost of operations and in turn, boost demand.”


The reduction in prices should help Tata Motors’ efforts towards improving commercial vehicle sales. The company recorded positive numbers in June 2017 on a month-on-month basis. While sales were still 2 per cent lower when compared to June 2016, it was a sign of growth for the automaker having seen dwindling numbers back-to-back in the first half of this year. The improved sales were cited due to ramp up in the production of BS-IV vehicles and the overall production increase across different segments.

With respect to passenger vehicle sales, Tata Motors witnessed a drop of 5 per cent in June 2017, after what has been a largely positive year for the carmaker. The company cited uncertainty over the new GST norms as the main reason for its drop in sales. However, with an overall price reduction across its passenger vehicles, expect volumes to pick up once again. The Indian carmaker is also gearing up to introduce its much awaited Nexon subcompact SUV around the festive season.


Government Asks Traders To Issue Advertisements About Price Hike Post GST

New Delhi: The government on Friday asked traders and businesses to immediately issue advertisements informing the public about increase in maximum retail price (MRP) on mass consumption products post implementation of GST.

To clear pre-GST stocks, the government had earlier this week allowed use of dual stickers reflecting the new rate along side the old printed price of a product for three months.

Revenue Secretary Hasmukh Adhia said the law provides for indicating the maximum retail price (MRP) of a product clearly on every product.

With rates of some products undergoing change because of alteration in incidence of taxation involving over a dozen central and state levies unifying into the Goods and Services Tax, there is a requirement as per law to indicate the new rate clearly.

Adhia said that to tide over the problem of changing printed MRP on unsold pre-GST stock, the government has allowed pastable stickers with new rates.

“I would appeal to traders that it is not a very difficult job to paste stickers. The sooner they do it, the better it is for them,” he said at the second GST Master Class here.

For items of mass consumption, the revised MRP has to be advertised in two local newspapers.

“Supposing it (the commodity) is an item of mass consumption, then immediately the revised MRP should be advertised in newspapers. Inform the people through advertisements. And sooner they paste the revised MRP on the product (the better it is),” he said.

Government Asks Traders To Issue Advertisements About Price Hike Post GSTHe, however, stopped short of stating the legal provisions that would apply in case of non-compliance.

Besides, to help businesses find the HSN code applicable for various commodities under the GST regime, the CBEC has launched on its website a search option by which they can find out the code by just typing the name of the product.

Harmonized System Nomenclature (HSN) code is used to classify goods for taxation purpose.

Adhia said that there are over 11,000 commodities and all of them have specific HSN codes which may run up to 8 digits in some cases.

“To make it easy for businesses, the CBEC has launched on its website a search option wherein businesses can just type the product they are searching for and get the HSN code,” Adhia said.

Businesses with turnover of up to Rs. 1.5 crore need not quote HSN code in the invoices GST, but those above the limit will have to do so.

Adhia said there is no prescribed format that businesses have to follow while raising an invoice in the GST regime.

However, details like GSTIN of the trader and the amount of the bill would have to be clearly specified.

In a relief to traders, there is no compulsion on issuing a digitised bill, as a manual invoice will also hold good.

Adhia said that issuing an invoice is not necessary if the transaction is below Rs. 200.

However, the trader needs to furnish an invoice in case the consumer insists on it or the transaction is B2B (Business to Business).

Further, if a business does not have GSTIN or provisional id, then it can transact business using the ‘bill of supply’.