Tag: Gst

Mumbai: Union Finance minister Nirmala Sitharaman on Monday assured states that the Centre will not “renege” on the promise of GST compensations. The delays to pass on the money are due to a slip in collections and the states have nothing to be embarrassed about, she said. The remarks come at a time when 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 […]

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: 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 Modi government has been defending the multi-tiered rates under GST, saying there cannot be one rate, as different segments of society have to be taxed differently. However, it has emerged that ordinary bicycles used mostly by the low-income group people attract 12 per cent GST while expensive electric bicycles are in the […]

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 […]

New Delhi: The gross Goods and Services Tax (GST) revenue collected in the month of December 2019 is Rs 1,03,184crore of which CGST is Rs 19,962 crore, SGST is Rs 26,792 crore, IGST is Rs 48,099 crore (including Rs 21,295 crore collected on imports) and Cess is Rs 8,331 crore (including Rs 847 crore collected […]

New Delhi: In a major relief for small traders with an annual turnover of Rs 5 crore or less, the government on Wednesday announced the extension of the cut-off date for filing monthly GST returns by up to 4 days. While the return filing date for firms with an annual turnover of Rs 5 crore […]

Chennai: Finance Minister Nirmala Sitharaman on Saturday said the Central government is plugging the loopholes in the Good and Services Tax (GST) with the use of technology and is working towards eight per cent growth rate. She also said micro, small and medium enterprises (MSMEs) can make a complaint if banks deny them loans without […]

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 […]

New Delhi: The Goods and Services Tax Network (GSTN) on Sunday said that tax officials have processed around 10,077 cases of new registration during the first 10 days of the nationwide lockdown, from March 25 to April 3. In a statement GSTN said that a total number of 20,273 registration-related cases were processed during the […]

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 […]

Bhubaneswar: The goods and services tax (GST) collection in Odisha has fallen by 7.86 per cent year-on-year to Rs 2,693.75 crore in June, amid slowdown in the economy due to the coronavirus crisis, an official said on Sunday. The GST revenue was 2,923.47 crore in the year-ago month. The gross GST collection in the April-June […]

New Delhi: Alcohol-based hand sanitisers will attract 18 per cent Goods and Services Tax (GST), according to a ruling by Authority for Advance Ruling (AAR). The ruling came in the case of Springfield India Distilleries which had approached the Goa bench of AAR to seek classification of hand sanitisers supplied by the company and its […]