Tag: Goods And Services Tax

Bhubaneswar: Odisha Chief Minister Naveen Patnaik on Friday urged the Centre to totally exempt handloom and handicraft products from the Goods and Services Tax. “I urge that this issue needs urgent reconsideration in the GST Council for extending GST exemption on these (handloom and handicraft) products in the interest of the weavers and artisans,” Patnaik […]

Bhubaneswar: Odisha government today demanded exemption of handloom and handicraft products from the purview of GST. The demand was made by Odisha Finance Minister S B Behera at the GST Council meeting in New Delhi during the day, an official release here said. “GST should not be applicable on the products prepared by weavers and artisans […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]