Page 21 - Goods And Services Tax

GST: More than just a tax reform

Going forward, we also need to look at inclusion of items in the GST from a larger macro perspective

GST Council: Stormy discussion around states' compensation likely today

States will demand an extension of the compensation period or a change in the GST revenue distribution formula

GST Council tilts towards rate hikes, drops exemptions for many items

Okays removing the exemption on mass consumption items

Blanket 28% GST could hit online gaming badly in India, says industry

The country's gaming industry is currently estimated at $1.5 billion

Five years of GST: Some biz adapted, some perished, as others thrived

This ground report from Howrah talks about how the mid-sized and smaller players lost ground

GST Council meet begins today: Here's what's on the agenda in Chandigarh

From revising some rates to deciding on the thorny issue of compensation extension for states, here is what the Council is likely to take up

Five years of GST: Rates for some goods still in need of fine-tuning

The tax continues to evoke mixed feelings and remains work in progress

GST Council may treat fantasy games on a par with gambling, taxed at 28%

GST Council is likely to consider system-led enforcement reforms

Five years of GST: Recovery of input tax credit still a struggle

This ground report from Agra captures the overall sentiment that GST credit is like working capital for an MSME and it is increasingly getting stuck in the system

Quicker refunds helping exporters in GST regime

Overall, the five years of GST have made life easier for exporters and importers, despite some rude shocks and unresolved issues

GST Council meet: Pruning exemptions on curd, paneer, some veggies on cards

Exemptions may also be withdrawn on certain services such as business class flights from NE airports and certain hospital room categories

GST Council likely to consider changes in monthly tax payment form

Currently, GSTR-3B of a taxpayer includes auto drafted input tax credit (ITC) statements based on inward and outward B2B supplies and also red flags any mismatch between GSTR-1 and 3B

Puducherry and Punjab have the highest GST revenue shortfall, shows data

The good news is the revenue shortfall of all the states have narrowed from FY21 level to FY22 level

5 years of GST: Profiteering charges leave many companies perplexed

No structured guidelines for firms to avoid profiteering; standard method to compute undue profits, say experts

India Inc gives thumbs up to GST, but says long way to go in fixing issues

GST-related litigation set to rise as companies and the government differ on tax rates and data reconciliation

Top Headlines: TDS levy on cryptos, GST rate of 200 items, and more

From TDS levy on cryptocurrencies to GST rate of over 200 items staying the same, here are the top headlines on Thursday morning

We hope to mop up Rs 1.3 trn GST in current fiscal year: CBIC's Vivek Johri

System 'revolutionised' to plug chances of leakage, he tells 'Business Standard' in interview

Fitment committee rejects demands to reduce GST rate on over 200 items

The Council unlikely to decide on taking crypto assets in next week's meeting in Chandigarh.

GST Council may defer decision on taxing crypto assets in June 28-29 meet

Fitment panel proposes deeper study by Haryana and Karnataka and asks to submit report to the panel for further deliberations

Indian economy: Not just a twin but a triple-deficit problem looms

While the twin deficit problem of widening fiscal and current account deficits has been spoken about, a third problem of widening deficit in the states also stares the Indian economy in the face