Page 19 - Goods And Services Tax

Renting apartments gets costlier for companies with new GST rates in effect

The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST)

GST changes from Monday may put pressure on retail inflation: Experts

Falling global commodity prices may neutralise the impact, say experts

GST on labelled food items, hospital rooms above Rs 5K from Monday

Tax rates on products such as printing, writing or drawing ink; knives with cutting blades, paper knives and pencil sharpeners will be hiked to 18 per cent on Monday

FinMin seeks industry views on changes in monthly GST payment form

The finance ministry on Friday released a paper suggesting changes in the monthly GST payment form and sought industry comments by September 15. The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs and suggestions of the stakeholders. "Accordingly, general public and the trade at large are hereby informed that a detailed Concept Paper on comprehensive changes in FORM GSTR-3B is enclosed. All members of trade/ stakeholders are requested to kindly furnish their views/comments/suggestions on the Concept Paper latest by 15th September 2022 at gstpolicywing-cbic@gov.in so as to facilitate finalization of the matter, the ministry said. Abhishek Jain, Tax Partner, KPMG in India, said GSTR-3B is a return form capturing the summary of outward and inward supplies for a particular month. The paper takes into consideration various suggestions of both taxpayers and administrators, including .

Global recession fears may ease inflationary pressures: Govt report

Review released by ministry also said that global headwinds would continue to pose downside risk to growth as crude oil and edible oils, remain major imported components

Crisis and macroeconomic policy

The book is worth a read for all those interested in our economy - students or commentators of various tints - not least because most arguments are data-anchored but devoid of spite

GoM on GST Appellate Tribunal set up, to be headed by Dushyant Chautala

The Goods and Services Tax (GST) Council has set up a six-member group of ministers (GoM) to recommend necessary amendments required in the GST laws and other legal changes for setting up the GSTAT

5 years of GST: Why the indirect tax regime may not see big-bang reforms

From July 1, 2017, a uniform tax on goods and services - marketed by Prime Minister Narendra Modi as "One Nation, One Tax, One Market" - replaced a bewildering array of local sales and entry levies

Scope for further pruning of GST exemption list: Revenue secy Tarun Bajaj

Industry body Ficci in a letter to the finance ministry on Monday said that 5 per cent GST on non-ICU hospital rooms above Rs 5,000 will increase the cost of healthcare services

Policymakers don't have fetish to raise rates: Revenue secy Tarun Bajaj

But the government is open to discussing narrowing down the three slabs of 5, 12 and 18 per cent into two, he said while addressing industry leaders

No GST compensation: Will the Centre find another way to give states money?

It is also important to see which states can finance a reasonable portion of their regular expenditure with their own revenue

Useful recommendations of GST Council for exporters

The present exemption of IGST on import of goods under advance authorisation, Export Promotion Capital Goods (EPCG) authorisation and by Export-Oriented Units will be continued

GST collection at Rs 1.45 trillion in June, the second highest ever

Average GST collections at Rs 1.51 trillion a month in the first quarter of the current financial year are much higher than the Rs 1.2 trillion derived from the Budget Estimates

GST tweak on food items to plug revenue leakages, says CBIC chief

Says it will build a robust tax system without being intrusive

Change in GST rates may generate Rs 15K cr a year: Revenue secy Tarun Bajaj

'Implementing GST was challenging in a country like India, which follows a federal structure'

5 years of GST: How far has it lived up to promise of simple tax regime

Goods and Services Tax: Here's a look at the journey so far

Five years of GST: Taxing time for relations between Centre and states

Shrinking fiscal space has brought states on a collision course with the Centre

Five years of GST: Chidambaram to Sitharaman, the people behind the reform

The benefits of GST will positively ensure it to be 'Good and Simple Tax' for citizens of India, says Prime Minister Narendra Modi on the eve of the GST launch

GST: What lies ahead for India's most ambitious indirect tax reform?

The continuation of a business-as-usual approach can undermine the GST's ability to either raise revenues for the government or improve the ease of doing business

Five years of GST: The still good, but not-so-simple indirect tax

The GST is still paying the price for govts talking the talk of a good and simple tax on July 1, 2017, but not walking the walk thereafter