The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, on June 12, had slashed tax rate on COVID drugs such as Remdesivir and Tocilizumab as well as on medical oxygen, oxygen concentrators and other COVID essentials.
Finance Minister Nirmala Sitharaman, while addressing the media post the meeting, said that a group of ministers (GoM) will be formed by Saturday (May 29), which will examine the need for further reductions and decide on any new rates in exemptions.
The GST Council will meet for the first time this year on May 28, through video conferencing.
New Delhi: In view of the challenges faced by taxpayers in meeting the statutory and regulatory compliances under Goods & Services Tax (GST) law due to the outbreak of the…
New Delhi: GST collections in April touched a record high of over Rs 1.41 lakh crore, indicating sustained economic recovery, the Finance Ministry said on Saturday. The revenues for the…
New Delhi: GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, the Finance Ministry said on Thursday. “GST revenues crossed above Rs 1 lakh crore mark at a stretch for the last six months and a steep increasing trend over this […]
Keonjhar: A gutkha and tobacco products laden truck which was on its way to Bhubaneswar from Delhi was fined Rs 44 lakh on the charges of tax evasion. A team of Barbil City (Commercial Tax) and GST Enforcement unit had intercepted the truck near Murusuan area under Champua police limits in Keonjhar district on Sunday. […]
New Delhi: As part of efforts to bring parity in taxation on agro-inputs, the Department of Chemical and Petrochemicals has approached the Finance Ministry for reducing GST on pesticides from 18 per cent to 5 per cent. Along with fertilisers, pesticide is also an important agro input that helps in curbing pests and diseases on […]
New Delhi: The good old traditional snack food ‘papad’ or ‘pappadam’, as it is known in south India, cannot be equated with packaged ‘un-fried fryums’ and cannot have similar tax treatment, the Authority for Advance Rulings (AAR) has ruled. In its order rejecting a petition seeking to bring irregular sized packaged snack food as referred […]
Rourkela: While conducting a probe into a suspected tax evasion, the officials of Rourkela Goods and Services Tax (GST) department on Friday intercepted two truck-loads with 25 tonnes of edible oil. Preliminary probe reveals that an oil consignment was reportedly looted from a truck by a group of five armed miscreants after attacking the driver […]