Page 43 - Latest Updates on Goods and Services Tax
Costly delay
Hesitation in announcing a financial package is inexplicable
 "Costly delay")
Mix of needed and negatives
The most notable was to charge interest for delay in payment of GST on net cash tax liability, with effect from July 1, 2017
Best of BS Opinion: The GST dilemma, coronavirus supply shock, and more
GST rationalisation, IT design framework, Trump administration on coronavirus to banking crisis, Kanika Datta brings you the top opinions of the day
The GST dilemma
Design framework and tax evasion pose counter challenges
 "The GST dilemma")
Rationalise GST now
Counteract coronavirus supply shock with tax reform
 "Rationalise GST now")
Mobile phones to get costlier as GST rate hiked to 18% from 12%
GST Council asks Infosys to fix GSTN glitches by July
 "Mobile phones to get costlier as GST rate hiked to 18% from 12%")
Industry and analysts denounce GST rate hike to 18% on mobile phones
Xiaomi MD says move could weaken demand as smartphone makers will be forced to raise prices
 "Industry and analysts denounce GST rate hike to 18% on mobile phones")
WTO-compliant remission of tax scheme for exporters gets canbinet nod
Under the scheme, an inter-ministerial committee will determine the rates and items on which the reimbursement of taxes and duties would be provided.
 "WTO-compliant remission of tax scheme for exporters gets canbinet nod")
FinMin flags 17 'areas of dissatisfaction' with Infosys-designed GSTN
Infosys, which in 2015 won the contract for managing backend for GST Network (GSTN), has drawn flak from the ministry over the tech glitches, some of them have been unresolved for almost two years.
 "FinMin flags 17 'areas of dissatisfaction' with Infosys-designed GSTN")
States also flout Budget numbers discipline
More attention needs to be focused on state Budgets
 "States also flout Budget numbers discipline")
AARs can determine place of supply under the GST regime: Kerala HC
This is an important settlement of a legal issue in GST since Authority for Advance Rulings have not been going into this matter, saying it is beyond their jurisdiction
 "AARs can determine place of supply under the GST regime: Kerala HC")
GST portal glitches to dominate agenda of Council meeting on Saturday
States may ask Infosys to have a point of contact; IT firm chairman Nilekani to a presentation on Saturday
Odisha GST collections up 11% to Rs 27,044 cr during April-February
The gross GST collection during the last month was Rs 2,790 crore
 "Odisha GST collections up 11% to Rs 27,044 cr during April-February")
Fake invoicing racket worth Rs 7,896 cr busted; accused use 23 shell firms
This was done by a network of 23 shell companies. Two people were arrested for the same on February 29
 "Fake invoicing racket worth Rs 7,896 cr busted; accused use 23 shell firms")
Samsung fined Rs 37 lakh for not passing GST benefits to consumers
The National Anti-Profiteering Authority (NAA) held that the South Korean company did not reduce the selling price of its 32-inch LED TV 32FH4003
 "Samsung fined Rs 37 lakh for not passing GST benefits to consumers")
We have saved Rs 1 trn through DBT by using tech efficiently: Sitharaman
She also said that they have "revolutionised" technology-driven PFMS and it has empowered India to be accountable, responsive and transparent
 "We have saved Rs 1 trn through DBT by using tech efficiently: Sitharaman")
GST collection crosses Rs 1-trn mark for the fourth month in a row in Feb
The mop-up could have been much higher, but tax on imports fell 2 per cent year-on-year
 "GST collection crosses Rs 1-trn mark for the fourth month in a row in Feb")
GST collections at Rs 1.05 trn in Feb, up 8% over the same month last year
The total number of GSTR 3B returns filed for the month of January up to February 29 stood at 8.3 million -- same as last month
 "GST collections at Rs 1.05 trn in Feb, up 8% over the same month last year")
Trade wants GST Council to change late payment rule
Demands on the basis of gross tax liability can be held in abeyance
 "Trade wants GST Council to change late payment rule")
Centre approves levy of 28% GST on lotteries from March 1, rate notified
The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification
 "Centre approves levy of 28% GST on lotteries from March 1, rate notified")