Page 37 - Goods And Services Tax

States can borrow to fund GST compensation, Centre not obliged to pay: AG

K K Venugopal does not recommend borrowings by GST council; experts dislike the idea of burdening states with more debt

Centre not obliged to pay for shortfall in GST compensation fund: AG

The Attorney General in his view said there is no obligation on the central government to pay the GST compensation shortfall

IGST crackdown: Exporters cry foul; govt refutes allegations of harassment

Say they are being harassed by the authorities even as 1,500 who claimed bogus GST refunds are untraceable

Explained: How OCEN is trying to keep credit disbursement challenges at bay

Network to connect lenders, loan marketplaces, borrowers on a single platform and make access to credit a matter of minutes

GSTN plans to send statement of liability shown in sales return via email

While GSTR-1 is filed by sellers and contains invoice-wise and category-wise details of all outward supplies. This has to be filed by 11th of the succeeding month

Economic activity reviving; GST collections good sign: CBDT chief Mody

He tells Dilasha Seth, in an interview, that 58,000 cases will be assessed through the faceless mechanism by October.

Centre likely to reduce AGR licence fee for wireless broadband to Re 1

Cabinet likely to take up the issue in its next meeting

I-T dept spots taxpayers with high-value transactions in FY19 with no ITRs

The last date for filing as well as revising the Income Tax Return for Assessment Year 2019-20 (relevant to FY 2018-19) is July 31, 2020

Covid-19: Alcohol-based hand sanitizers to attract 18% GST, rules AAR

Springfields (India) Distilleries had moved Goa AAR over classification of the hand sanitizer and the applicable rate of GST.

PMO, FinMin to discuss revenue position and ways to augment receipts

It is learnt that Chief Economic Advisor Krishnamurthy Subramanian will give a presentation to PMO officials

From arbitration to computing damages, here're the key court orders

The Supreme Court does not generally interfere in an interim order, but if a high court passes an order, which affects the revenue of the state, it will interfere in the public interest

GST compensation period: States likely to push for five-year extension

Set to seek higher borrowing limits as revenues dry up

The new normal for state borrowings

Have the states shown a lack of prudence in their borrowing programme to tide over the pandemic?

Green shoots visible, India will bounce back: NITI Aayog CEO Amitabh Kant

"I am hopeful that we will bounce back and bounce back with a vengeance," Kant said while speaking at 'FICCI FRAMES 2020'.

GSTR-4: Govt considering demand for extending date for filing I-T returns

The time limit to file GSTR-4 annual returns for the FY 2019-20 by the composition dealers had been extended till July 15, 2020 on April 3, 2020

Future Harvard studies will be held on Modi's failed policies: Rahul Gandhi

His attack came a day after India surpassed Russia to become the third worst-hit nation by the Covid-19 pandemic

Covid won't deter us from path of speedy GST reforms: Ajay Bhushan Pandey

While not affirming new timelines for the simplified returns forms, Pandey says invoice matching is already happening at the back-end and quarterly payments are allowed for small taxpayers.

Covid-19 crisis: States divided on alternative GST compensation mechanism

While Punjab and Kerala will press the GST Council to borrow in order to compensate states, Bihar Deputy Chief Minister Sushil Kumar Modi called the idea "wishful thinking"

A tentative recovery

Data suggests that the economy is bottoming out

Tranformational tax reform

GST has achieved a lot in three years, but there is an unfinished agenda