Page 40 - Latest Updates on Goods and Services Tax
Tranformational tax reform
GST has achieved a lot in three years, but there is an unfinished agenda
 "Tranformational tax reform")
Govt committed to reforms, make tax structure simple: FM on GST day
The finance minister asked taxmen to make life easier for MSMEs, particularly on GST front
 "Govt committed to reforms, make tax structure simple: FM on GST day")
Delhi HC issues notices to govt, GST Council on retro amendment
The amendment relates to limiting the transitional input tax credit to 90 days form the roll out of the goods and services tax (GST) from July one, 2017
 "Delhi HC issues notices to govt, GST Council on retro amendment")
Traders' body CAIT suggests measures to broaden GST to simplify taxation
Traders' body CAIT on Wednesday suggested a host of measures, like technical audits and waiver of late fees, to broaden the GST base and make the taxation system simple.
 "Traders' body CAIT suggests measures to broaden GST to simplify taxation")
June GST collections at Rs 90,917 cr, up from Rs 62,009 cr mopped up in May
The government had allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns
 "June GST collections at Rs 90,917 cr, up from Rs 62,009 cr mopped up in May")
The past three years of GST and the road ahead
The journey has been a mixed bag, as several issues remain unresolved: Let's turn back and revisit what GST has attained and it couldn't
 "The past three years of GST and the road ahead")
Compensation has become the biggest issue in GST: Sushil Kumar Modi
Modi tells Dilasha Seth that the proposed reforms like simplified return form and e-invoicing facility, among others, will be difficult to push through in the fourth year.
 "Compensation has become the biggest issue in GST: Sushil Kumar Modi")
Current GST regime is riddled with problems: Manpreet Singh Badal
Punjab Finance Minister Manpreet Singh Badal pressed for a complete overhaul of the federal indirect tax regime
 "Current GST regime is riddled with problems: Manpreet Singh Badal")
Letter to BS: Hopeful that one day GST will be a 'good and simple tax'
The removal of various central and state value added tax laws, barriers, transaction forms, different rates on one commodity are big achievements
Honest, thorough reappraisal of GST long overdue
The GST regime was ushered in without adequate preparation of the information technology platform for filing returns
 "Honest, thorough reappraisal of GST long overdue")
GST: An unappreciated reform
The cascading effect of taxes owing to crisscross and delinked taxes, which were officially acknowledged but never addressed, is a thing of the past
 "GST: An unappreciated reform")
Top headlines: RBI's one-time recast plan, monetising fiscal deficit
From the possibility of RBI's one-time recast plan to be limited, RBI likely to monetise fiscal deficit in second-half of FY21, a glance at GST's completion of 3 years tomorrow, here are the top news
 "Top headlines: RBI's one-time recast plan, monetising fiscal deficit")
GST effect: How retail inflation rate changed over the last 3 years
The inflation rate in cigarettes hit double digits during July-March of FY18, but came down in the next two years
 "GST effect: How retail inflation rate changed over the last 3 years")
Three years of GST: Still a long way to go for 'Good and Simple Tax'
The GST Council is considering market borrowing to give the states the promised compensation for their revenue shortfall
 "Three years of GST: Still a long way to go for 'Good and Simple Tax'")
Don't make mistake of dismissing Galwan incident as patrol clash: Punjab CM
Twenty Indian soldiers, including four from the state, were killed in a violent clash with Chinese troops in the valley in eastern Ladakh on June 15.
 "Don't make mistake of dismissing Galwan incident as patrol clash: Punjab CM")
Slowing Chinese imports may delay automakers' electric vehicle target
Support from Centre on alternative fuel technologies and batteries holds key
 "Slowing Chinese imports may delay automakers' electric vehicle target")
GST officials detect Rs 105-cr tax evasion by Indore-based cigarette maker
DGGI had conducted searches at the firm's premises that revealed that a secret exit had been set up on the rear side through which unaccounted raw materials were brought and finished goods cleared
 "GST officials detect Rs 105-cr tax evasion by Indore-based cigarette maker")
Input tax credit cannot be availed on GST paid for employees cabs
The AAR in its ruling said since the applicant failed to cite any law under which the service of providing transportation facility to its employees is obligatory, ITC will not be available
 "Input tax credit cannot be availed on GST paid for employees cabs")
Covid-19 crisis: Indian economy's road to recovery still has long way to go
Agriculture was expected to be the only silver lining in the economy in the current financial year
 "Covid-19 crisis: Indian economy's road to recovery still has long way to go")
Covid-hit states urge quick release Rs 20,000 cr IGST dues from Centre
They argue that while Centre recently released Rs 36,400 crore in pending IGST dues in lieu of compensation for December, Jan and Feb, more remained to be given to them
 "Covid-hit states urge quick release Rs 20,000 cr IGST dues from Centre")