Tag: Gst

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 […]

Mumbai: Prime Minister Narendra Modi on Tuesday said the government is aiming to bring 99 per cent of items below the 18 per cent GST slab and warned of stringent action against defaulters of bank loan and fugitives. “Before GST, registered enterprises numbered 65 lakh, which has now increased by 55 lakh. Today, the GST […]

New Delhi: After breaching the Rs 1-lakh crore-mark in October, revenue collection under the Goods and Services Tax (GST) slided to Rs 97,637 crore in November. The revenue collected in November relates to transactions made in October. The total GST revenue collected in October (for September) was Rs 1,00,710 crore. The Finance Ministry said a […]

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 […]

Dehradun: Prime Minister Narendra Modi on Sunday said India is going through major social and economic changes and the resultant New India will prove to be a catalyst for global development. “India is witnessing rapid economic and social changes. The country is going through a big transformation. We are marching towards a New India,” Modi […]

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: Expressing satisfaction with GST collection trends, the government on Friday said the states were on the path of meeting their revenue targets by themselves, thereby not needing compensation from the Centre after the five-year period of its implementation. After a GST Council meeting here, Finance Minister Arun Jaitley said the emerging trend in […]

New Delhi: As petrol and diesel prices hit new highs on Monday, former Union Finance Minister P. Chidambaram said the Centre and states must act together to bring petrol and diesel under GST immediately. “Relentless rise in prices of petrol and diesel is not inevitable. Because the price is built up by excessive taxes on […]

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 […]

New Delhi: Prime Minister Narendra Modi on Sunday congratulated the people of the nation as the roll-out of the Goods and Services Tax (GST) plan completed one year. “I congratulate the people of India on the special occasion of GST completing one year. A vibrant example of cooperative federalism and a ‘Team India’ spirit, GST […]

New Delhi: Union Minister Piyush Goyal on Saturday said that a telephone helpline number will be started soon, where consumers can report against those traders who evade tax by not issuing purchase bill. According to the Finance Ministry’s tweets, the Union Minister for Railways, Coal, Finance and Corporate Affairs also appealed to consumers to demand […]

New Delhi: As the Goods and Services Tax (GST) reform is set to complete one year in July, Prime Minister Narendra Modi on Sunday dubbed the event as “the victory of honesty”. “GST is to complete one year. People’s ‘One Nation, One Tax’ dream has now been changed into reality today. For this, I give […]

New Delhi: The government on Monday dismissed rumours that farmers would now have to pay 18 per cent GST when they lease out their land from June 1, calling such reports “factually incorrect” and “misleading”. The clarification came a day after Prime Minister Narendra Modi accused the Congress of spreading lies among farmers that if […]

New Delhi: Finance Minister Arun Jaitley on Tuesday said demonetisation and the Goods and Services Tax (GST) led to higher formalisation of economy resulting in higher direct tax revenue and greater number of income tax return filings. “The impact of demonetisation and GST implementation has resulted into higher formalisation of economy. This is further substantiated […]