Page 33 - Goods And Services Tax

GST compensation: States refuse to relent, demand full borrowing by Centre

A day after the Centre agreed to borrow Rs 1.1 trn and lend to states in lieu of the promised compensation, dissenting states including Chhattisgarh, Kerala made it clear they will not relent

GST compensation shortfall: Centre to borrow Rs 1.1 trn on behalf of states

This may come as a victory of sorts for opposition-ruled states, including Punjab, West Bengal, and Chhattisgarh, which have insisted that the Centre should do the borrowing

Movement of goods worth over Rs 50K not allowed if GSTR3B forms pending

The Central Board of Indirect Taxes and Customs (CBIC) said these taxpayers will not be able to generate Part A of the e-way Bill

Private hospitals request WB govt to lower GST on COVID-19 test kits

Private hospitals in the city have welcomed the state government's decision to reduce the cost of Covid-19 test from Rs 2,250 to Rs 1,500 as well as fixing rates for ambulance services

Best of BS Opinion: GST compensation issue, the land bank, and more

Here's a selection of Business Standard opinion pieces for the day

With complications whittled down, the GST system has come of age

True, there are still a lot of niggling issues. But the major pain points have been mostly addressed

GST Council meet: Stalemate over compensation may see some solution today

Dissenting states may move SC, press for dispute resolution authority, refer matter to GoM

Decoded: What GST Council decided for taxpayers, big and small

Here's a look at the most important decisions and what they mean for the average taxpayer.

GST Council has no jurisdiction over borrowing by states: Govt sources

As such issue of voting in the Council over this issue does not arise, they say

Faltering federalism: GST Council meeting failure is not a good sign

States don't issue their own currency, and are by definition a more fragile borrowing construct than the Union. The final solution must reflect this asymmetry

Release Rs 4,321 crore towards IGST share, Tamil Nadu tells Centre

Tamil Nadu Minister D Jayakumar urged the Centre to release Rs 4,321 crore towards the state's share of Integrated Goods and Services Tax

GST council exempts satellite launches by Isro, Antrix from 18% GST

But it is not clear whether the relief will be extended to private launch companies

No breakthrough in GST compensation deadlock; next Council meet on Oct 12

About two thirds of states opt for RBI-window of Rs 1.10 trillion, rest still want the Centre to borrow instead

Tamil Nadu may go with Option-1 for GST compensation, but seeks tweaks

State reiterates that Centre is bound to compensate the shortfall in GST collections and should find necessary funds for the purpose if there was a shortfall in cess collections

GST deadlock remains, compensation for tax collected to be released tonight

GST Council meeting, conducted via videoconference, was held to consider the two borrowing options offered to states in August to meet their shortfall in GST collections

Nirmala Sitharaman to chair stormy 42nd GST Council meeting today

Union Finance Minister Nirmala Sitharaman will chair the 42nd Goods and Services Tax (GST) Council meeting at 11 am on Monday

GST row: Govt proposes to revise Option 1, Oppn states may table 3rd option

Centre is likely to propose extending the compensation cess period by another two years beyond June 2022

Covid-19 crisis: Signs of economic recovery fragile, say experts

Some major indicators raise hopes but there are segments showing that revival is still nascent

Non-BJP states to oppose govt's borrowing option in GST meet tomorrow

In the current fiscal, the states are staring at a staggering Rs 2.35 trillion Goods and Services Tax revenue shortfall

Record e-way bills generated in Sept, signal economic revival: Finance secy

Pandey said that almost 2.62 million e-way bills were generated on September 30, which was the highest ever count so far in a single day