Tag: Gst

The minister said the GST rate for health insurance is 18 percent, which is as per international standards, and similar to what it was during pre-GST days in the country.

EY India Tax Partner Bipin Sapra said "this change will have an immediate impact on working capital of tax payers who are currently availing credit of 105 per cent of matched credit. The change will also mandate industry to validate that the procurements are made from genuine and compliant vendors."

The OGST collection during the month was Rs 1,157.69 crore against a collection of Rs 681.96 crore during November 2020.

In October 2021, the revenues were Rs 1,30,127 crore, while in April 2021, it was the highest at over Rs 1.41 lakh crore.

India has four primary GST rates of 5 per cent, 12 per cent, 18 per cent, and 28 per cent.

With GST revenue collections making a rebound post the disruptions caused by the second wave of Covid pandemic, the Centre is likely to initiate dialogue with states for inclusion of petroleum products under the new indirect tax fold.

e Centre opened a special borrowing window last year to meet the estimated shortfall of Rs 1.1 lakh crocre in revenue arising on account of implementation of GST.

Rourkela: In a major achievement, the GST intelligence wing unearthed a racket involved in fraudulent GST transactions amounting to crores of rupees in Rourkela today. As per reports, the racket was active since the introduction of GST by the union government and had been causing massive losses to the state exchequer by availing benefits under […]

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 […]

By Dillip Kumar and Pratik Patra 2017 brought many new things. It also renewed, reformed and shed some. The year saw new policies, announcements and reforms. Here’s a list of some big, bold & boastful ones. VAT, GST rollout Preparing the ground for transition to a new taxation regime, the Odisha Assembly unanimously passed the […]

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 […]

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, […]

The Narendra Modi-led BJP government will present its last full-year budget on February 1 next year. There are chances that it will announce measures to make the tax system reasonable and simple. Finance minister Arun Jaitley is likely to come up with some measures in the Union Budget for 2018-19 bringing relief to crores of […]

Bhubaneswar/New Delhi: The deadline for filing the GST sales return — GSTR-1 — which was to expire today has been extended for five more days till September 10, official sources said. The Central Board of Excise and Customs (CBEC), in a tweet said, “GIC (GST Implementation Committee) decides to extend date of GSTR 1, GSTR […]

Bhubaneswar: The Cooperation Department has directed Markfed and fertiliser traders to sell old stock at revised price following implementation of GST. The directive comes after some traders were caught selling the fertilisers at old price despite a slash in price post GST. Even the Ministry of Chemicals & Fertilizers recently wrote to the State to […]