Page 28 - Goods And Services Tax

Finance ministry to issue appreciation certificates to 54,439 GST payers

The ministry said it will issue certificates of appreciation to over 54,000 GST payers for timely filing of returns and cash payment of the tax, to mark the 4th anniversary of the historic tax reform

Four years of GST

Some distance covered but there is scope for a huge improvement

Govt mulling ways to ease tax burden on foreign AIF investors

Such investors have had to bear higher taxes on their investment because of the goods and services tax (GST) borne by such funds, which is ultimately passed on to the investors

GST: A turning point?

The recent upsurge in revenues offers the prospect of the country breaking out of the long-stagnant tax-to-GDP ratio

Advance tax collection surges 146% despite Covid-19-led economic disruption

Net direct tax mop-up zooms 100% till June 15

Dangers of a wrong diagnosis

Indirect taxes are now higher than direct taxes. But cutting indirect tax rates to address this will amount to barking up the wrong tree

Direct tax mop-up zooms 85% in spite of economic disruption due to Covid-19

Trend in contrast to moderation in GST collections last month

After the GST cut

Council should address structural shortfall in revenue

GST collections fall to an 8-month low in May; exceed Rs 1 trillion-mark

The goods and services tax collection stood at Rs 1.02 trillion in May compared with a record high of Rs 1.41 trillion in April and Rs 1.24 trillion in March

Amid curbs, GST collection in May drops to Rs 1.02 trn vs Rs 1.4 trn in Apr

However, when compared with the same month last year, the revenues collected in May are 65 per cent higher

Do not politicise GST Council: Finance Minister Nirmala Sitharaman

The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with further packages and interventions, says FM Sitharaman

Structural weakness

India needs to overhaul the tax system

GST was notified with horrendous rates of tax: Congress leader Chidambaram

Congress leader P. Chidambaram has slammed the union government for converting the GST to a bad law, saying it was notified with horrendous rates of tax

The importance of EQ over IQ for politicians

Humility, not hubris, should be the middle name of any Indian politician who wants to achieve his goals

RBI's status quo policy may revolve around Covid-19 pandemic measures

RBI's forecast for growth is 10.5% for the current fiscal year. Most analysts expect the RBI to lower it in the June 4 monetary policy announcement

GST compensation: Oppn-ruled states claim Rs 55,000-cr underestimation

They have also sought an additional compensation of Rs 65,000 crore for FY21

More misses than hits

GST Council should have addressed pressing issues

All eyes on GoM call on taxing Covid items

Under the GST laws, hundreds of mass consumption items and essential services are exempted fully or attract a lower rate of tax than the standard rate of 18%

'GST compensation amount should be higher than Rs 1.58 trillion in FY22'

The compensation amount promised by the Centre is estimated to be higher than the Rs 1.58 trillion projected by the Centre, say three opposition-ruled states

GST Council meet: Decision on tax cuts on Covid-19 vaccines by June 8

The issue of GST rates on vaccines and other Covid-related supplies will be reviewed by a Group of Ministers (GoM).