Page 43 - Goods And Services Tax

Bengaluru's realty market emerges unscathed from economic slowdown

Besides the traditional segments, the demand for co-living, co-working and senior living is keeping the sector buzzing

GST compensation fund likely to fall short by Rs 25,000 cr in FY20: Icra

The agency assesses the compensation for the losses related to the goods and services tax (GST), required by all the states for the period from October 2019 to January 2020, at Rs 60,000-70,000 crore

BSNL, MTNL employees taking VRS need to wait till April for dues

This is because the Union Budget does not have provision for any expenditure towards the programme in the current fiscal year

Budget 2020: States' share in central tax pool seen at 50-year low

The states' revenue from the central tax pool was up 25.8 per cent YoY in FY19, while it was down 0.4 per cent YoY in FY18

FM Nirmala Sitharaman's second Budget a missed opportunity

The government has wasted the chance to firmly establish its reform credentials

Budget 2020 in 2 minutes: Fiscal deficit target, income tax rates, and more

The personal income tax has been simplified and reduced. Individuals will have to pay tax at the reduced rate of 10% for incomes of Rs 5-7.5 lakh, against the current rate of 20%

Indirect tax: Few but well-justified changes in Budget 2020

Customs duties and exemptions need to be streamlined

Budget 2020: How will Sitharaman pull off Rs 2.1-trn disinvestment miracle?

The government has promised to raise Rs 120,000 crore via disinvestment, and an additional Rs 90,000 crore from sale of government equity in public-sector banks and financial institutions, in 2020-21

Budget 2020: Oil ministry calls for inclusion of natural gas under GST

If brought under GST, natural gas will attract a uniform rate of tax at the consumption point anywhere in the country after doing away with current rates of excise duty and VAT

GST, VAT collection dips as 6 states' tax revenue till November FY20 falls

On the other hand, tax revenues rose 13.44 per cent for West Bengal in this period

Don't reduce devolution

Increasing grants and tied funds not enough

What can macro policy do?

Long-term structural reforms are required, such as a uniform GST and direct tax rates

Budget 2020: Prakash Javadekar hints at 'action plan' for economic revival

Markets to open for regular trading on February 1

Governance in India has been economics illiterate; here's how to fix it

The government needs to appoint economists in secretary level positions in all ministries for things to improve

HC clears confusion over contentious issue of composite supply under GST

The company went to the Kerala high court against the judgement. The high court wondered as to how AAR came to the conclusion that it was a composite supply

Govt may propose GST refunds on capital goods purchases to exporters

Currently, under the LUT route, they need not pay tax on their export bills, but they stand to lose refunds on taxes paid on capital goods. Taxes on all other inputs get refunded

Revenue dept detects 931 fraudulent GST claim cases through data analytics

Refunds of over Rs 28,000 crore are said to have been filed by over 27,000 taxpayers so far on account of inverted duty structure in the current financial year

Checking fraud in revenue leakage

One measure being considered is to link foreign exchange remittances with refund of IGST for risky and new exporters, apparently to curb fraudulent IGST refund claims

Telecom industry urges govt to facilitate funding at lower interest rate

Representatives from the industry met telecom ministry officials to communicate their suggestions to help the debt-ridden sector

New year begins on positive note

The government's new year gift is extension of the time limit to avail of the service tax and central excise dispute resolution scheme by 15 days