Page 20 - Latest Updates on Goods and Services Tax
'No tax should be levied on common man's items': Kerala on GST hike
Kerala Finance Minister KN Balagopal said the state had repeatedly expressed its reservations over imposing GST on certain packaged food items, contradicting Union Finance Minister's claims
 "'No tax should be levied on common man's items': Kerala on GST hike")
Crypto markets rebound but assets future in India uncertain: Experts
From April 1, a 30 per cent tax was applied on income from the sale of cryptocurrency. From July 1, an additional 1 per cent tax was applied in the form of tax deducted at source (TDS)
 "Crypto markets rebound but assets future in India uncertain: Experts")
Rajya Sabha adjourned for the day as Oppn continues to protest price hike
Rajya Sabha proceeding washed out completely and was adjourned for the day amid continued protest by the Opposition parties led by the Congress over price rise and levy of GST on daily essentials
 "Rajya Sabha adjourned for the day as Oppn continues to protest price hike")
Lok Sabha adjourned till 4 pm amid Opposition protests over price rise
Lok Sabha proceedings were adjourned till 4 pm on Wednesday amid vociferous protests by Opposition members over price rise and the imposition of the Goods and Services Tax on some daily-use items
 "Lok Sabha adjourned till 4 pm amid Opposition protests over price rise")
Renting apartments gets costlier for companies with new GST rates in effect
The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST)
 "Renting apartments gets costlier for companies with new GST rates in effect")
GST changes from Monday may put pressure on retail inflation: Experts
Falling global commodity prices may neutralise the impact, say experts
 "GST changes from Monday may put pressure on retail inflation: Experts")
GST on labelled food items, hospital rooms above Rs 5K from Monday
Tax rates on products such as printing, writing or drawing ink; knives with cutting blades, paper knives and pencil sharpeners will be hiked to 18 per cent on Monday
FinMin seeks industry views on changes in monthly GST payment form
The finance ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15.
 "FinMin seeks industry views on changes in monthly GST payment form")
Global recession fears may ease inflationary pressures: Govt report
CAD will deteriorate if crude prices don't come down
 "Global recession fears may ease inflationary pressures: Govt report")
Crisis and macroeconomic policy
The book is worth a read for all those interested in our economy - students or commentators of various tints - not least because most arguments are data-anchored but devoid of spite
 "Crisis and macroeconomic policy")
GoM on GST Appellate Tribunal set up, to be headed by Dushyant Chautala
The Goods and Services Tax (GST) Council has set up a six-member group of ministers (GoM) to recommend necessary amendments required in the GST laws and other legal changes for setting up the GSTAT
5 years of GST: Why the indirect tax regime may not see big-bang reforms
From July 1, 2017, a uniform tax on goods and services - marketed by Prime Minister Narendra Modi as "One Nation, One Tax, One Market" - replaced a bewildering array of local sales and entry levies
Scope for further pruning of GST exemption list: Revenue secy Tarun Bajaj
Industry body Ficci in a letter to the finance ministry on Monday said that 5 per cent GST on non-ICU hospital rooms above Rs 5,000 will increase the cost of healthcare services
 "Scope for further pruning of GST exemption list: Revenue secy Tarun Bajaj")
Policymakers don't have fetish to raise rates: Revenue secy Tarun Bajaj
But the government is open to discussing narrowing down the three slabs of 5, 12 and 18 per cent into two, he said while addressing industry leaders
No GST compensation: Will the Centre find another way to give states money?
It is also important to see which states can finance a reasonable portion of their regular expenditure with their own revenue
Useful recommendations of GST Council for exporters
The present exemption of IGST on import of goods under advance authorisation, Export Promotion Capital Goods (EPCG) authorisation and by Export-Oriented Units will be continued
GST collection at Rs 1.45 trillion in June, the second highest ever
Average GST collections at Rs 1.51 trillion a month in the first quarter of the current financial year are much higher than the Rs 1.2 trillion derived from the Budget Estimates
 "GST collection at Rs 1.45 trillion in June, the second highest ever")
GST tweak on food items to plug revenue leakages, says CBIC chief
Says it will build a robust tax system without being intrusive
 "GST tweak on food items to plug revenue leakages, says CBIC chief")
Change in GST rates may generate Rs 15K cr a year: Revenue secy Tarun Bajaj
'Implementing GST was challenging in a country like India, which follows a federal structure'
 "Change in GST rates may generate Rs 15K cr a year: Revenue secy Tarun Bajaj")
5 years of GST: How far has it lived up to promise of simple tax regime
Goods and Services Tax: Here's a look at the journey so far