Page 17 - Goods And Services Tax

Taxes to come to govt's aid, achieve 6.4% fiscal deficit goal for FY23

Centre has already collected half the targeted revenue in the first six months of the current financial year even as customs and excise duty collection figures are yet to come in

Delhi HC directs L'Oreal to pay profiteered amount of Rs 186 crore

The court, which clubbed the petitions, had posted the matter for next hearing on October 19

Exporters call on FM Sitharaman to extend GST exemption on export freight

If the exemption is not extended, exporters will have to pay GST of 18% on export ocean freight, which will increase the logistical costs for Indian goods in global market

Solar projects awarded before customs duty change allowed cost pass-through

Change in law allowed for hike in GST rate too as project developers face cost hikes

Gameskraft Technology faces Rs 21,000-crore tax notice for 'GST evasion'

The Council is expected to meet next month to take up the panel's report on the issue

Govt may retain or cut bond borrowings for current fiscal on robust revenue

India may keep its market borrowing plan for the financial year intact, with a recent uptick in revenues likely to lead to a discussion on whether the target can be reduced

Centre upbeat on Rs 1.5-trillion GST revenue every month from October

GST collections were to the tune of Rs 1.43 trillion in August; in July it was around 1.49 trillion

Businesses will be able to claim pre-GST tax credits from October 1: Report

When the new tax regime under GST was introduced in 2017, several businesses could not file their tax claims due to a lack of clarity on the rules and technical glitches

Manufacturing in dire straits: Output up just 1.1% compared with 2019-20

Electricity output has grown around 11%; consumer durables and non-durables have contracted 6.7% and 2.4%, respectively

Flavoured milk or beverage? AAAR says Vadilal's Power Sip is the latter

GST rate is 5% on milk and 12% for beverage; company says product is flavoured milk

GoM for different GST on sports betting, casinos and horse racing

Group of ministers to seek legal opinion for the move

3D-printed homes, implants, jewellery: An industry takes shape in India

High equipment costs and shortage of skilled manpower a challenge, despite MeitY push

GST collections above Rs 1.4 trillion for sixth consecutive month

Mop-up increases 28% YoY in August to Rs 1.43 trillion; most big states see double-digit growth in collections

Hit on revenues from alcohol to dent Delhi govt's revenue balance

The projected revenue from alcohol estimated at the time of presenting the Budget constituted around 20 per cent of the state's expected own tax revenue and 15 per cent of its total receipts.

Medicine purchases by inpatients exempt from GST: Tamil Nadu AAR

An outpatient will be charged GST for medicines and consumables bought that were prescribed in the course of providing health care services

Medicine purchases by inpatients exempt from GST, says Tamil Nadu AAR

But says drugs, consumables purchased by outpatients in the course of treatment will be taxed

Printing question paper exempt from GST, but not answer booklet, rules AAR

Holds that an answer booklet is a good, whereas printing question paper is a service provided to educational institution

SC dismissal of review petition on HSN codes setback for industry

Auto component industry may have to pay up to 15% basic Customs duty and 28% GST

Private education training firms subject to GST, rules Kerala AAR

Ernakulam-based company is not a formal school but an institution providing special training, it says

CBIC directs GST officers to not summon senior execs in first instance

Also instructs them to not arrest a person if he has a different interpretation of law