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Tag: Goods And Services Tax

GST
GST Invoice Fraud: 132 Arrested, 1.63 Lakh Registrations Cancelled For Non-Filing Of Returns

New Delhi: The Goods and Services Tax (GST) authorities have cancelled 1,63,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months, sources in the Department of Revenue said. In one month of its nationwide drive against GST fake invoice frauds, the Directorate General […]

GST-Collection-Improves
GST Collection: Odisha Witnesses Positive Growth Rate Amid COVID-19 Lockdown

Bhubaneswar: Despite lockdown due to COVID-19, the Goods and Services Tax (GST) collection in Odisha has witnessed a positive growth rate for the first time during the current financial year in the month of July, said an official on Saturday. The Odisha GST (OGST) collection in July increased to Rs 794.02 crore as against Rs […]

Politics Over GST Assistance Heats Up In Odisha
Politics Over Centre's GST Compensation Heats Up In Odisha

Bhubaneswar: While the state is reeling under the COVID-19 wave, the mudslinging over Rs 5,122 crore Goods and Services Tax (GST) assistance to Odisha, has heated up the political corridor in the State. Congress has termed the GST aid as State’s ‘right’, while the ruling BJD said, the central government has not done any favour […]

GST
Lotteries To Attract Uniform 28% GST Rate From March 1

New Delhi: Lotteries will now attract a 28 per cent uniform Goods and Services Tax (GST) from March 1. This GST rate will be applicable to state-run and authorised lotteries from March 1, according to a notification. The GST Council, led by Finance Minister Nirmala Sitharaman, had in December last year decided to increase the […]

GST
GST Biggest Madness Of The Century: Subramnian Swamy

Hyderabad: BJP leader and Rajya Sabha MP Subramanian Swamy on Tuesday described the Goods and Services Tax (GST) as the ‘biggest madness’ of 21st century and called for radical reforms like abolishing income tax to achieve 10 per cent growth rate to make the country an economic superpower by 2030. He said the country has […]

gst-fraud
GST Evasion Over Rs 100 Crore Unearthed In Odisha, 2 Arrested

Rourkela: A major racket involved in Goods and Services Tax (GST) evasion was unearthed in Odisha with the arrest of two businessmen from Rourkela on Thursday. The accused have been identified as Amit Beriwal and Subhash Swain. GST Commissioner, Sushil Kumar Lohani informed that both Amit and Subhash had created a network and generated invoices […]

GST-Fraud
CGST Unearths Rs 241 Cr GST Fraud

New Delhi: The anti-evasion wing of the Central Goods and Service Tax (CGST), Delhi South Commissionerate, has unearthed a Rs 241 crore goods and services tax (GST) evasion through fake invoicing, according to an official statement here on Thursday. Over 120 entities involved in Rs 1,600 crore transactions through fake invoicing have been identified. The […]

GST-Council
No Rate Hike, GST Council Votes For Uniform Lottery Rate

New Delhi: The all-powerful GST Council, in its 38th meeting here on Wednesday, voted for uniform rate of 28 per cent on lotteries across the country. During the voting, 21 states voted in favour of a uniform rate. This is the first time since the launch of the new indirect tax that the Council has […]

Sitharaman
Govt Releases Rs 35,298 Cr GST Compensation To States

New Delhi: Facing heat over delay in payment of GST compensation, the central government on Monday released Rs 35,298 crore to states to make up for the loss of revenue due to rollout of the Goods and Services Tax (GST). When GST was rolled out on July 1, 2017, states were through legislation promised to […]

GST
GST collections dip below Rs 1 lakh crore to Rs 98,202 cr in August

New Delhi: In an apparent sign of economic slowdown, India’s GST collections in August dropped to Rs 98,202 crore from over Rs 1.02 lakh crore in the previous month, the finance ministry said on Sunday. However, total Goods and Services Tax (GST) mop-up for August this year was 4.5 per cent higher than the Rs […]

Pranab-Mukharjee1
Aim of becoming USD 5-trillion economy possible: Pranab

Kolkata: Former president Pranab Mukherjee on Saturday said the government’s ambitious target of becoming a USD 5-trillion economy by 2024-25 is possible through prudent fiscal management. Mukherjee also said the GST needs more clarity and that some signs of a slowdown in the economy were visible since last year, leading to a lower GDP growth […]

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GST collections dip below Rs 1 lakh crore-mark in June

New Delhi: In signs of sluggish momentum in tax collections, Goods and Services Tax (GST) receipts in June fell to Rs 99,939 crore, down from over Rs 1 lakh crore in the previous month, the finance ministry said Monday. While the GST collections in June were lower than Rs 1,00,289 crore in May, they were […]

FM
GST Council focus now on easing compliance, curbing tax evasion

New Delhi: With the Goods and Services Tax (GST) regime stabilizing after a series of rate rationalizations, the focus of the government has now clearly shifted to easing the compliance burden and containing tax evasion. In its 35th meeting, the GST Council on Friday decided to introduce electronic invoicing system in a phase-wise manner for […]

GST-Revenue-2019
May GST collection stays above Rs 1 lakh crore

New Delhi: The Goods and Services Tax (GST) collection for the month of May rose 6.67 per cent to Rs 1,00,289 crore from a year ago period staying above Rs 1 lakh crore in monthly revenue mop-up. The collection is, however, lower compared to April when the gross revenue had touched all time high of […]

sanjay-sign
GST return filing dates extended in Cyclone Fani-hit Odisha

Bhubaneswar: The Central government has extended the deadlines for various Goods and Services Tax (GST) returns for taxpayers registered in cyclone-hit Odisha, an official said on Thursday. State Information and Public Relations Secretary Sanjay Kumar Singh said the Central government has extended the filing of GST returns in 14 cyclone affected districts. The deadline for the […]

P.Chidambaram
Chidambaram wants to know why GST goals are changing

New Delhi: Former Finance Minister P. Chidambaram on Wednesday raised questions about what caused the change in the “declared goals” of the Goods and Services Tax (GST) regime, why it was being changed. “Until yesterday a single standard rate of GST was a stupid idea. Since yesterday, it is the declared goal of the government! […]

Arun-Jaitley
GoM to look into anomaly in GST collection in states: Jaitley

New Delhi: The Goods and Services Tax (GST) Council on Saturday decided to form a seven-member Group of Ministers (GoM) to study anomalies in tax collection in some of the states which showed wide deviation from what was expected. “The Council has approved the proposal to form a seven-member GoM to study the revenue trend, […]

P.Chidambaram
Chidambaram calls BJP's 8 tax rates under GST 'stupid'

New Delhi: Senior Congress leader P. Chidambaram on Friday termed the BJP government’s eight tax rates under the Goods and Services Tax (GST) regime “stupid idea” saying “filing GST returns has been a nightmare”. “The stupid idea was the BJP’s idea of having eight rates when GST was first implemented in July 2017,” the former […]

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GST collections cross Rs 1 lakh crore mark

New Delhi: Revenue collections under the Goods and Services Tax (GST) crossed the Rs 1 lakh crore mark in October, Finance Minister Arun Jaitley said on Thursday. This was a marked improvement over the September GST collection (for August) which stood at Rs 94,442 crore. Jaitley attributed the rise in the tax mop-up to lower tax […]

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Fuel under GST to affect states' revenue: Chief Ministers

New Delhi: Opposing the idea of bringing fuel products under the Goods and Services Tax (GST), three Chief Ministers from different political parties on Saturday said it would have a negative impact on their revenue collection. Speaking at the Hindustan Time Leadership Summit 2018, Amarinder Singh, Chief Minister of the Congress-ruled Punjab, said his state’s […]

fuel price rise
Fuel under GST to affect states' revenue: Chief Ministers

New Delhi: Opposing the idea of bringing fuel products under the Goods and Services Tax (GST), three Chief Ministers from different political parties on Saturday said it would have a negative impact on their revenue collection. Speaking at the Hindustan Time Leadership Summit 2018, Amarinder Singh, Chief Minister of the Congress-ruled Punjab, said his state’s […]

gst-parlia-752x440
GST collection crosses Rs 94,000 cr in September

New Delhi: Despite reduced tax rates on several items, revenue collection under the Goods and Services Tax (GST) stood at Rs 94,442 crore in September after sliding to Rs 93,960 crore in August. “The revenue collected in September shows an upward trend as compared to the August collection,” the Finance Ministry said. The government had […]

Congress
Congress calls for Bharat bandh on Sept 10 against fuel price hike

New Delhi: Calling the steep rise in diesel and petrol prices as Rs 11 lakh crore ‘fuel loot,’ the Congress on Thursday called for a ‘Bharat bandh’ on September 10, saying it was in touch with other parties for their support. The party again demanded that petrol and diesel be brought under Goods and Services […]

gst-parlia-752x440
GST Council proposes cashback incentive to promote digital payments

New Delhi: The Goods and Services Tax (GST) Council in its meeting on Saturday decided to start a pilot project to give cashback to consumers in order to incentivise digital payments in the country. The pilot project, which proposes 20 per cent cashback on GST component of transactions, will be rolled out by states who […]

chariots
Wood for chariots, idols of deities exempted from GST

Bhubaneswar: The Goods and Services Tax (GST) Council today exempted wood meant for construction of idols and chariots of deities under the GST regime. Speaking to media after the GST Council meeting at Vigyan Bhawan in New Delhi, Odisha Finance Minister, Sashi Bhusan Behera said “After a while, the council has finally approved our demands […]

narendra-modi-ians
PM Modi congratulates India on GST anniversary

New Delhi: Prime Minister Narendra Modi on Sunday congratulated the people of the nation as the roll-out of the Goods and Services Tax (GST) plan completed one year. “I congratulate the people of India on the special occasion of GST completing one year. A vibrant example of cooperative federalism and a ‘Team India’ spirit, GST […]

GST
GST helpline number for consumers soon: Goyal

New Delhi: Union Minister Piyush Goyal on Saturday said that a telephone helpline number will be started soon, where consumers can report against those traders who evade tax by not issuing purchase bill. According to the Finance Ministry’s tweets, the Union Minister for Railways, Coal, Finance and Corporate Affairs also appealed to consumers to demand […]

Modi
Goods and Services Tax is victory of honesty: PM Narendra Modi

New Delhi: As the Goods and Services Tax (GST) reform is set to complete one year in July, Prime Minister Narendra Modi on Sunday dubbed the event as “the victory of honesty”. “GST is to complete one year. People’s ‘One Nation, One Tax’ dream has now been changed into reality today. For this, I give […]

Arun-Jaitley
Demonetisation, GST led to formalisation of economy: Jaitley

New Delhi: Finance Minister Arun Jaitley on Tuesday said demonetisation and the Goods and Services Tax (GST) led to higher formalisation of economy resulting in higher direct tax revenue and greater number of income tax return filings. “The impact of demonetisation and GST implementation has resulted into higher formalisation of economy. This is further substantiated […]

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Jaitley's last full Budget to be different due to GST

New Delhi: The last full Union Budget to be presented by Finance Minister Arun Jaitley in the forthcoming session of Parliament beginning on Monday will be unlike his previous four such exercises because of the complete overhaul of the indirect tax regime effected by implementing the Goods and Services Tax (GST) last year. The Budget, […]

shina
FinMin requested to bring ATF under GST: Sinha

New Delhi: Civil Aviation Ministry has proposed to include jet fuel under the ambit of Goods and Services Tax (GST) regime, Parliament was informed on Thursday. “This ministry has requested Ministry of Finance to include ATF in the ambit of GST regime with full input tax credit at the earliest possible,” Minister of State of […]

kendu-leaf
Odisha Cabinet ‘approves’ GST on forest produce

Bhubaneswar: The State Cabinet today reportedly approved a proposal to bring forest produce including wood, Bamboo and Kendu leaf under Goods and Services Tax (GST). Besides, the Cabinet has also approved establishment of an Asian Public Health University for clinical research in the State. As per sources, the health university will be established in association […]

sashi-Bhusan-behera
Odisha received 2.3 pc more tax this year due to GST: Finance Minister

Bhubaneswar: The Odisha government’s tax collection amount has increased by 2.3% to Rs 3,735.14 crore this year after implementation of the Goods and Services Tax (GST), informed Finance Minister Sashi Bhusan Behera in the State Assembly. In the pre-GST regime, the State had collected Rs 3,691.28 crore during last year, the minister added. He, however, […]

GST
GST Council likely to lower tax on common-use goods

New Delhi: The Goods and Services Tax (GST) Council, headed by Union Finance minister Arun Jaitley, is scheduled to meet on November 10 to discuss on lowering tax rates on handmade furniture, plastic products and daily use items like shampoo. Besides, the council will consider on measures to simplify return filing rules. In further relief […]

Odisha waives fine on delayed filing of GST returns

Bhubaneswar: The State Government on Wednesday waived penalty on delayed filing of Goods and Services Tax (GST) returns for the months of August and September. As per the GST law a State can fine a nominal fee of Rs 100 per day in case of late filing of returns and payment of taxes. The move […]

File GSTR-3B return before Diwali: Government

New Delhi: Having ruled out further extension of the date for filing Goods and Services Tax Returns (GSTR), the government on Friday said the October 20 deadline to file the GSTR-3B would not be extended. It also said that real estate, a major area of tax evasion and black money generation, could soon be brought under […]

No further extension in deadline to file July GSTR1 return

New Delhi: The government on Monday ruled out further extension of the deadline in filing the Goods and Services Tax (GST) return GSTR-1 for the first month of implementation in July on the ground of having already granted a two-month extension. “The last date for filing GSTR-1 for the month of July, 2017 is 10th […]

Truckers to go on strike from Monday, demand diesel inclusion in GST

Kolkata: Calling for a 36 hour nationwide strike starting from 8 a.m. of October 9, truck owners and operators on Saturday protested against the disruptive policies under Goods and Services Tax (GST) and demanded the inclusion of diesel in the new indirect tax’s ambit. “The post GST scenario has critically impaired the transport trade. The […]

GST on handicraft, handloom products slashed: Finance Minister

Bhubaneswar: The Goods and Services Tax (GST) on handicraft and handloom products has been slashed by the GST council following regular demands of the State Government, informed Finance Minister Sashibhusan Behera in a press meet today. After implementation of GST, while there was 28% GST on clay and stone sculpture, Sabai Grass weaving ropes and […]

Extend GST return deadline by 2 months to resolve issues: CII

New Delhi: Industry chamber CII on Sunday said that in view of certain pending issues, the deadline for filing Goods and Services Tax (GST) returns should be further extended by up to a couple of months. “In view of the difficulties of online filing, CII suggested that the due dates for filing GSTR-1, GSTR-2 and […]

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