Page 32 - Goods And Services Tax

GST invoice fraud: 132 arrested, 163,000 registrations cancelled

In its drive to check fake firms GST field formations have cancelled 163,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months

Centre releases Rs 6,000 crore of GST compensation to 23 states, three UTs

Remaining five states do not have a gap in revenue on account of GST implementation.

E-invoicing under GST pick up speed, posts 17% growth in November

Daily invoice generation has now improved to 2.5-2.7 million per day compared to an average of 1.5 million a day in October.

GST collections up Rs 1 trn for second month straight, aided by festivals

November collections were 1.42 per cent higher than the same month of the previous year

25,000 defaulting taxpayers to be persuaded to file GST returns by Nov 30

GSTN and tax officials have decided to persuade 25,000 taxpayers, who have defaulted to file their GSTR-3B returns by the November 20 due date for the month of October, to file the same

Chhattisgarh, Punjab to opt for centre's borrowing option on GST shortfall

This leaves Jharkhand as the odd one out

GST not a perfect system, requires changes, rate rationalisation: N K Singh

Says finance commission's job is to reconcile divergent objectives

Telangana opts for Option 1 to meet GST shortfall, joins 22 other states

The Union Ministry of Finance informed that Telangana has opted for Option-1 suggested by the Ministry to meet the shortfall in revenue arising out of GST implementation

Five more held for fake invoices under GST, total arrests reach 30

GST Council's law panel to meet on Wednesday to deliberate on actions to curb fake issuance of invoices

GST Council's law panel to meet on Wednesday over fake invoices

Meeting is part of nationwide drive against fake GST invoices; 25 held, 350 cases filed against 1,180 entities till Nov 13, crackdown resumes today after diwali recess

Professionals and kingpins among 25 held for issuing fake bills under GST

350 cases filed against 1,180 entities, actual amount of fake ITC claimed being ascertained, say sources

GSTN infrastructure upgraded to handle up to 300,000 users concurrently

The number of active taxpayer numbers have effectively doubled since the launch of GST at about 1.3 crore.

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre

Too early to call

Essential to see if demand holds in coming months

Wait for holistic response for stressed sectors: Finance secretary

AJAY BHUSHAN PANDEY talks about the Budget, revenue collection, and the goods and services tax (GST) compensation mechanism

It is a game of skill: Rajasthan High Court rejects plea to ban Dream11

Court says games offered on platform involve skill, not chance; rules that issue of GST evasion, as alleged in the plea, will be decided by GST authorities

Frequent policy changes, taxes hurting luxury car market: Audi India head

Cars priced above Rs 25 lakh account for a per cent in India's 3 million-car market and share has remained unchanged over the last five years

Top trader-retailer body moves govt against Amazon, Flipkart festive sales

Says hefty discount amounting to predatory pricing, cashback by credit and debit card banks and high interest rate on EMI offered to buyers need to be scrutinised

Raise GST borrowing to Rs 1.83 trillion, Kerala CM writes to FM Sitharaman

More states likely to write to FM today; Jharkhand rejects Centre's proposal

Bridge the gap

Centre's decision to borrow doesn't fully address the GST issue