Page 41 - Latest Updates on Goods and Services Tax
Will consider corporation tax rate benefit extension: FM Sitharaman
Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.
 "Will consider corporation tax rate benefit extension: FM Sitharaman")
Looking beyond crises
Lack of strategic vision in the NDA has caused it to fail at economic management
 "Looking beyond crises")
Best of BS Opinion: Govt's limited fiscal cushion, doing-business concerns
From why this year's budgeted net tax revenue for the Centre is impossible to achieve to how Indians are blase about class-driven brutality, here's a selection of Business Standard Opinion pieces
 "Best of BS Opinion: Govt's limited fiscal cushion, doing-business concerns")
Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states
States have been up in arms against the Centre over the non-payment of compensation dues according to the calender
 "Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states")
Reimagining GST for the post-Covid era
Revival of economic activity should overwhelm its agenda
 "Reimagining GST for the post-Covid era")
E-way bills in May treble from April levels; Still behind pre-March levels
This indicates that GST revenue for May, but collected in June, could recover after reporting a close to 85% shortfall in April vis-a-vis last year
 "E-way bills in May treble from April levels; Still behind pre-March levels")
GST Council to take up late fee waiver for GSTR 3B returns in next meeting
The current requests for waiver of late fee pertain to the old periodm from August 2017 to January 2020
 "GST Council to take up late fee waiver for GSTR 3B returns in next meeting")
No need to include petroleum in GST
At present, petroleum is an item, along with alcohol, which gives satisfaction to states that they have some fiscal federalism left with them
 "No need to include petroleum in GST")
A silent Surat: No orders, dormant looms and no diamond polishing
The final part of the series looks at how industries are waiting for demand to bounce back
 "A silent Surat: No orders, dormant looms and no diamond polishing")
Low demand, high inventory; housing sector facing its worst: CREDAI head
Shah said that interest subvention is the "need of the hour"
 "Low demand, high inventory; housing sector facing its worst: CREDAI head")
Lockdown 4.0: Not looking for dole, need better policies, say Meerut MSMEs
The fourth of a five-part series looks at the situation in the industrial heartland of Western UP where firms prefer GST refunds, supportive policies over handouts
 "Lockdown 4.0: Not looking for dole, need better policies, say Meerut MSMEs")
Coronavirus to trigger fresh consolidation across sectors, says BofA
Brokerage says organised, large firms will grab more market share in the post-Covid world
 "Coronavirus to trigger fresh consolidation across sectors, says BofA")
Covid-19 lockdown: No proposal to impose calamity cess, say FinMin sources
The sources said any such proposal would prove to be counter-productive as sales are already at low volume at this time of lockdown.
 "Covid-19 lockdown: No proposal to impose calamity cess, say FinMin sources")
Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers
The National Anti Profiteering Authority has ruled that the realty firm has benefited from additional input tax credit
 "Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers")
GST boost to MSMEs
The definitional changes made for MSMEs would address the problem of "dwarfism"
 "GST boost to MSMEs")
Story in Numbers: Sanganeri textile exporters drained of colour in Covid-19
The sector was trying to emerge from the aftereffects of the implementation of GST when the pandemic struck
 "Story in Numbers: Sanganeri textile exporters drained of colour in Covid-19")
FM's reforms fail to impress airlines bleeding in coronavirus lockdown
Industry representatives says measures are for long term but they need immediate help
 "FM's reforms fail to impress airlines bleeding in coronavirus lockdown")
It's high time govt worked with trade to revive economy
The government cannot turn a blind eye, as if there were no errors on the GSTN portal
Miners want mandatory capex rule relaxed as workers stay away fearing Covid
None of the merchant mines in Odisha whose lease validity expired by March 31 has been able to restart. Though the successful bidders have got LoI, they awaiting formal vesting orders
 "Miners want mandatory capex rule relaxed as workers stay away fearing Covid")
Kick-start the economy with cash flow
Pay government dues and enable high-speed connectivity
 "Kick-start the economy with cash flow")