Page 37 - Goods And Services Tax

States' fiscal deficit likely to hit 4.2-5.5% of GSDP this fiscal year

This may take the general deficit of the country-- both the Centre's and states'-- to 11-14 per cent of GDP in FY21

Oppn-ruled states dismiss Centre's 2 options on GST compensation shortfall

Meet today to outline strategy on compensation

Purchases, imports and SEZ supplies to be auto-generated under GST system

Currently, taxpayers file GSTR1, which is a seller form and GSTR3B. However, purchases are not auto populated from GSTR1

Govt writes to states, suggests borrowing options to meet GST shortfall

States could borrow via a special window centre will facilitate through the RBI or they may raise debt from the market, says finance ministry

States' market borrowing set to get costlier; SDL yields rise 24 bps

Yields on the three-year SDLs have jumped 35 bps to 5.09 per cent this month

FRBM hike not enough; need 0.75 percentage point leeway: Thomas Isaac

In an interview with Dilasha Seth, Kerala Finance Minister Thomas Isaac says if the issue isn't settled, states will have to move Supreme Court

Multiplex chain PVR found guilty of profiteering, but escapes penalty

PVR escaped penalty because it voluntarily deposited Rs 13.72 lakh along with interest worth Rs 35,800 to the consumer welfare fund

States' GST revenue shortfall can be bridged by monetising debt, NSSF: SBI

The Centre said a special window can be provided to the states, in consultation with the RBI, for borrowing at a reasonable interest rate

GST Council meet: States accuse Centre of 'arm-twisting' them to borrow

Even BJP-ruled states like Karnataka suggest central govt should borrow to compensate states

GST Council meet: States to push for borrowing by Centre on Thursday

Our worst fears are now coming true, Amit Mitra writes to Sitharaman

Sonia to chair meeting with Congress CMs, Mamata Banerjee, Uddhav Thackeray

Congress interim chief Sonia Gandhi will speak to the CMs to discuss the pending GST share, and the NEET and JEE examination issue.

Two-wheelers merit GST rate revision, says FM Nirmala Sitharaman

Council to take up issue; SoPs for hotels, tourism, aviation may be tweaked

States to pitch for dispute resolution system at GST Council meet on Aug 27

Punjab FM says not paying cess amounts to sovereign default

Finance Ministry remembers Jaitley's legacy by recounting GST benefits

The Finance Ministry on Monday said GST has reduced the rate at which people have to pay tax, helped increase compliance and doubled taxpayer base to 12.4 million

GST reduced tax rates, doubled taxpayer base to 12.4 million: FinMin

The number of assessees covered by the GST at the time of its inception were about 6.5 million

Businesses to get GST registration in 3 days with Aadhar verification

The Central Board of Indirect Taxes and Customs (CBIC) last week notified Aadhaar authentication for GST registration with effect from August 21, 2020

CEOs not to be issued summons at first instance for GST evasion: DGGI

The officers have been asked to ensure that a summon for personal appearance is issued only when specifically required. This would imply that the personal presence of an individual is minimised

GoM favours e-way bill for intra-state gold movement, discusses e-invoicing

The move will help track the movement of gold to help plug tax evasion and smuggling amid rising prices and subdued GST collections

GoM to take up proposal on gold e-way bills to check tax evasion, smuggling

A Group of Ministers (GoM) led by Kerala Finance Minister Thomas Isaac will take up the proposal - aimed at checking tax evasion and smuggling - on Friday

Taxes and trade

India is losing export opportunities