Page 29 - Goods And Services Tax

GST Council meet: Govt to borrow Rs 1.58 trn for compensation shortfall

States' demand for the extension of the compensation period beyond June 2022 will be taken up in a separate meeting

GST: Centre to borrow Rs 1.58 trn in FY22 to compensate states, says FM

Nirmala Sitharaman announces a flurry of pandemic-related relief measures after the 43rd GST Council meeting

Footwear, readymade garments likely to attract higher rates of GST

The fitment committee, which recommends rate changes to the Council, has proposed increasing the rate on footwear (less than Rs 1,000), readymade garments, and fabrics to 12% from 5% now

Structural shift

Higher GST collection reflects better compliance

GST panel rejects demand for tax waiver on Covid-19 vax, ventilator

GST fitment panel has recommended a short-term rate cut on four Covid-19 related items

GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone

GST Council may green-light entry given disappointing progress

Centre, states stare at Rs 2-trillion GST cess gap amid Covid-19

The GST compensation of states is expected to widen to Rs 2.5-3 trillion in FY22 as against the cess collection of Rs 1 trillion estimated in the Budget

States likely to ask for five-year extension of GST compensation

Tax sops on Covid supplies to also be on agenda at Council meet

Rationalise rates

GST Council must address the shortfall in collection

Covid-related imports not exempt from IGST if payment made: Expert

GST will be payable whether you buy from a party abroad or from a local supplier

Second Covid-19 wave: Daily e-way bill generation falls to one-year low

GST mop-up likely to fall in May, June

Constitutional violation to not call GST Council meet, says Amit Mitra

Amit Mitra urged Nirmala Sitharaman to convene a GST Council meeting at the earliest

GST exemption on vaccines will lead to high prices: FM Sitharaman

Statement follows West Bengal CM Mamata Banerjee's letter to PM seeking GST exemption

Govt extends income tax, GST compliance timelines amid Covid-19 crisis

Late fees for filing summary return or GSTR 3B waived; Interest rate halved to 9% for 15-day delay in the case of GST assesses with turnover of over Rs 5 crore

At Rs 1.41 trillion, GST collection for April 2021 sets new record

Despite the second wave of coronavirus pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience, says govt

Mayday in April

Aviation experts and analysts said that the second wave was likely to be crippling for a sector that was already gasping for air

Govt examining industry demands; breather on tax compliance deadline likely

Proposals for a 3-month extension of compliance timeline being considered

GST evasion by winning bidders: Rly purchases since July '17 face enquiry

DGGI decision relates to misclassification of supplies

GST officers to soon have real-time data on vehicles moving without e-way

The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills

Flavoured milk to draw 12% GST: Gujarat-based Authority for Advance Rulings

The ruling was delivered in a case filed by Vadilal Industries for its product Power Sip. Harpreet Singh, partner at KPMG, said the government should now clarify its position on this issue