Page 7 - Goods And Service Tax

Correct these elite distortions

The Indian economy and its workforce deserve freedom from the damaging tyranny of the tiny elites in the next decade

A Budget for expenditure

After the rollout of GST, budgets are not awaited with the same excitement as earlier by India Inc. But Budget 2020 will be different

Best of BS Opinion: Rethinking GST, Citizenship Act protest, and more

Here's a collection of Business Standard Opinion pieces for the day

Don't tinker with GST rates: Amit Mitra to Sitharaman ahead of Council meet

West Bengal finance minister says Council should find ways to help the industry tide over present crisis

'Advance authorisation is different from special advance authorisation'

The Indian company makes payment in foreign currency. Accordingly, does liability of payment of GST on RCM arise?

Why neglect exports?

India's exports are held back more by our inadequate policies than by any stagnation in world trade

Attractive ITC stocks fail to cheer investors due to GST concerns

Expectations of additional tax burden in GST Council meet, competitive intensity may impact volume growth and margin of its mainstay cigarette biz

GST must go back to drawing board; rates need to be simplified: N K Singh

The official said that GST needed to be revenue neutral and that the GST Council needed to move from multiplicity of rates to one standard rate.

States' GST compensation may need to be extended beyond 2022: Report

Serious inconsistencies in data make revenue projection problematic

GST only needs simplification

The truth is that tax collection is never much affected by a complicated tax structure

GST collections below Rs 1-trillion mark for a third straight month in Oct

October was the second month when the collection declined year-on-year. In September, it was down 2.7%

Warehousing space saw investments of Rs 3,500 cr since GST rollout: CBRE

CBRE said demand for warehousing will strengthen and estimated that leasing will be about 10-15 per cent higher this year at 25-30 million sq ft compared to last year

FM Nirmala Sitharaman seeks tax experts' inputs to correct GST flaws

Conceding that GST may have some flaws in its present form, finance minister Nirmala Sitharaman on Friday asked tax professionals not to curse it and sought their help to make it better. The minister was replying to the concerns raised by taxation industry professionals here, who said the industry was "cursing" the government over how the GST was implemented. Billed as the biggest reform in indirect taxation, the goods & services tax, which does away with a host of levies from the federal to the local government levels, was implemented in July 2017. On several stakeholders "cursing" GST, Sitharaman even objected to a person who raised the question, and asked him not to damn the law which was passed by Parliament and all the state assemblies. "After a long time, many parties in Parliament and in state assemblies worked together and came up with the Act. I know you are saying this based on your experiences but suddenly we cannot call 'what a goddamn structure it is'," .

MSMEs to get pending GST refunds within 30 days: Nirmala Sitharaman

Banks will also have to return all documents within 15 days of a loan closure, helping borrowers whose mortgaged assets are tied up

GST collection falls below Rs 1-trillion mark, first time in four months

Govt might push data intelligence, crackdown on evasion to boost collections

Automobile dealers say new GST changes put 'burden', seek rollback

The federation feels that the insertion of a new section 49A of the GST Act puts an 'unwaranted burden' on their working capital requirements, as they are already hit by slowing sales

Tamil Nadu urges Centre to pay Rs 7,214 crore in GST dues to the state

Tamil Nadu officials have told media that the state is not receiving compensation every month like other states, which do not have the IGST problem

Hero's Munjal proposes GST rate cut for two-wheelers, Bajaj disposes

Munjal's remarks come against the backdrop of slowing two-wheeler sales of Hero and others in the domestic market after years of double digit growth

GST: Focus shifts to enforcement actions, returns, refund simplification

The GST, which replaced a tangle of local taxes and entry levies, saw a chaotic roll-out on July 1, 2017, following a decade of political debate but only three months of concrete planning

GST anti-profiteering provisions: Not so profitable anymore

One of the grey area is whether the anti-profiteering provisions can provide for a comparison of tax rates between the pre-GST and post-GST eras?