Page 40 - Goods And Services Tax

Will more foreign financing be needed?

It is important to remove the frictions, to connect the infinite capital of the global financial system with end-users in India

Move petroleum to GST: The time is now

The health crisis is a moment of reckoning and an opportune time to revisit GST policy-design

Covid-19 impact: Missing disinvestment targets will have consequences

Any slippage in disinvestment numbers combined with other revenue shortfall would mean the govt would have to borrow more in the market

Establish fiscal council to scale up spending

India will have to address the big fiscal prudence challenge, which is not captured by the fiscal deficit/GDP metric

I-T Dept to release all pending tax refunds up to Rs 5 lakh immediately

The move is aimed at helping many overcome cash crunch due to nationwide lockdown, and is expected to benefit 1.4 million taxpayers

Top headlines: Govt to release GST dues, tea exports to fall, and more

Business Standard brings you top headlines of the day

Govt set to release Rs 20,000 cr pending GST compensation to states soon

second fiscal stimulus likely to be announced soon

Beyond virus: Setting course for a V-shaped recovery with right decisions

It's time for thoughtful decisions through 2020 and 2021, where the desired outcome is one where private investment in 2025 is superior to the value seen in 2011 in real terms

GSTN provides work from home access to more than 1,700 tax officers

This has provided officers a secured access to work on various GST applications such as processing of registration application, refund application, audit, assessment, appeal etc

The fiscal gridlock

Budget constraints of states need immediate attention

GSTN processed 10,077 new registrations, 7,876 refunds during lockdown

Till March 31, 2020, GSTN had enabled 1,748 tax officers from 18 states/UTs to access office through VPN, a secure way to access office networks.

Covid-19 crisis: Govt extends validity of e-way bills; gives relief in ITC

The Centre has also deferred the application of restricted input tax credit (ITC) of 10% under goods and services tax (GST), providing relief to industry

Covid-19: Govt extends e-way bill validity, defers restricted ITC under GST

The validity of e-way bills that were set to expire between March 20 and April 15, has been extended till April 30

GST collection slips below Rs 1 trillion in March after four months

The numbers pertain to GST paid in February but collected in March, suggesting that collections might turn grimmer going forward.

Costly delay

Hesitation in announcing a financial package is inexplicable

Mix of needed and negatives

The most notable was to charge interest for delay in payment of GST on net cash tax liability, with effect from July 1, 2017

Best of BS Opinion: The GST dilemma, coronavirus supply shock, and more

GST rationalisation, IT design framework, Trump administration on coronavirus to banking crisis, Kanika Datta brings you the top opinions of the day

The GST dilemma

Design framework and tax evasion pose counter challenges

Rationalise GST now

Counteract coronavirus supply shock with tax reform

Mobile phones to get costlier as GST rate hiked to 18% from 12%

GST Council asks Infosys to fix GSTN glitches by July