Mumbai: Prime Minister Narendra Modi on Tuesday said the government is aiming to bring 99 per cent of items below the 18 per cent GST slab and warned of stringent action against defaulters of bank loan and fugitives. “Before GST, registered enterprises numbered 65 lakh, which has now increased by 55 lakh. Today, the GST […]
New Delhi: After breaching the Rs 1-lakh crore-mark in October, revenue collection under the Goods and Services Tax (GST) slided to Rs 97,637 crore in November. The revenue collected in November relates to transactions made in October. The total GST revenue collected in October (for September) was Rs 1,00,710 crore. The Finance Ministry said a […]
Guwahait: The GST rate on 50 regularly used items, that were earlier in the 28 per cent tax slab, has been slashed to 18 per cent, Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the Group of Ministers panel for tackling IT-related glitches, informed on Friday. “All items of common consumption have been reduced […]
Bhubaneswar: The Odisha government has urged the Centre to exempt plates and cups made out of sal/siali leaves, sabai grass, ropes and handicraft goods from the purview of the Goods and Service Tax (GST). In a letter to the Union Finance Minister Arun Jaitley, Odisha’s finance minister S B Behera said that he had raised […]
New Delhi: The Supreme Court Monday dismissed a plea challenging the Telangana High Court verdict that a person can be arrested by the concerned authority in cases of Goods and Service Tax (GST) evasion. The plea came up for hearing before a vacation bench of Chief Justice Ranjan Gogoi and Justice Aniruddha Bose and the […]
Bengaluru: The GST Network on Saturday decided to make Aadhaar authentication or physical verification mandatory for new dealers from January 2020 to check malpractices in Goods and Services Tax. “Aadhaar authentication of new registered dealers will be mandatory. Earlier it was optional. But we have noticed in two years that large number of fly-by-night operators […]
New Delhi: Finance Minister Nirmala Sitharaman on Friday said the ministries have cleared most of the dues of goods and services to suppliers, mostly MSMEs, and the remaining payments will be done in the next few days. The minister also said that ministries have been asked to provide detailed capital expenditure plans for the next […]
New Delhi: The Goods and Services Tax (GST) collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 crore in the same month last year, as per government data released on Friday. This is the third consecutive month when GST mop-up remained below the Rs 1 lakh crore mark, […]
New Delhi: The government is set to crack the whip on GST non-filers with plans afoot to cancel the registration of repeat offenders. Amid lower-than-expected GST collection in the past few months of the current fiscal, the Central Board of Indirect Taxes and Customs (CBIC) has directed zonal offices to go tough on non-filers. Accordingly, […]
New Delhi: Amid talks of the government likely to miss tax collection target this fiscal, the Finance Ministry has set a Rs 1.1 lakh crore monthly GST mop-up target for the remaining four months of 2019-20 financial year, ministry sources said. Revenue Secretary Ajay Bhushan Pandey had a video conference meeting with top tax officials […]
New Delhi: What is the difference between a roti and a Paratha? Apart from the taste, it is 18 per cent GST that can be imposed on Parotas (or Parathas) because these need to be heated before consumption. Mahindra Group Chairman Anand Mahindra took to Twitter on Friday after the Karnataka bench of Authority for […]
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