Tag: Goods And Services Tax

Considered to be one of the biggest tax reforms since Independence, the Goods and Services Tax is all set to impact the prices of every good and service. Here is a list of the goods and services and the taxes they will attract under the GST regime. GOODS Exempted Milk, eggs, salt, fresh vegetables, fruits, […]

Bhubaneswar: A workshop on Goods and Services Tax (GST) will be held in the premises of the Odisha Legislative Assembly to educate legislators today ahead of a two-day special session beginning tomorrow to ratify the State GST Bill. Officials of the State Finance department and representatives of the Government of India will train the legislators […]

Bhubaneswar: The Odisha government today approved the GST (Goods and Services Tax) Bill after the cabinet gave its nod for implementation in state across all goods except six. Among the 6 goods which have been kept out of the ambit of the State GST, 5 are petroleum products and the sixth one is alcohol. The […]

Bhubaneswar: A day after the Lok Sabha passed four supplementary legislations to pave way for the implementation of Goods and Services Tax (GST) across the country, the Odisha government said that the State’s demands were not considered while deciding to implement the regime. Citing his displeasure over the form in which the GST was passed, […]

New Delhi/ Bhubaneswar: The Goods and Services Tax (GST) Council on Friday fixed the turnover-based exemption limit from such levies at Rs 20 lakh for Odisha, informed State Finance minister Pradeep Kumar Amat. The threshold limit has been set at Rs 20 lakh for all states barring the North-Eastern region. However, according to Amat, the […]

The State Assembly will have a special session tomorrow to ratify the Goods and Services Tax (GST) Bill

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! […]

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, […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]