Page 44 - Goods And Services Tax

Centre approves levy of 28% GST on lotteries from March 1, rate notified

The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification

Every penny counts as GST officers send demand notices to companies

Desperate push to meet collection target; firms receive notices for as low as Rs 2

Centre releases Rs 19,950 crore as GST compensation to states and UTs

This is for the first time that the Centre has given compensation to states for one month only

GST profiteering: Delhi HC comes to the rescue of Nestle, grants stay

The stay, granted through an order issued on February 10, was given on grounds that Nestle had already paid Rs 16.58 crore of the total demand of Rs 89.73 crore

Best of BS Opinion: What lessons can India learn from a buffalo race

Writers examine how to reform GST, the corporate sector's apolitical stance, Sebi's new rules for investment advisors and the draft pesticides Bill

Reforming GST

We must simplify, lower and make GST comprehensive to fulfil its promise

States to get Oct-Nov GST compensation before next Council meet

The Centre has estimated a compensation cess shortage of Rs 63,200 crore in 2019-20 (FY20)

Ahead of UP budget, Adityanath govt looks to balance populism, development

The economic slowdown has taken a toll on the state's industrial growth and consequently the collection of taxes, which is further putting a strain on its finances

Will calculate interest on delayed GST payment on net tax liability: CBIC

There have been cases where GST assessees have paid taxes after due date but did not pay the interest due on account of delayed payment

Tamil Nadu presents fiscal deficit budget, expects 7.27 % growth

State's debt to increase to over Rs 4.56 trillion

Sabka Vishwas legacy dispute scheme may not add much to govt coffers

Govt faces uphill task of meeting indirect tax target despite scaling it down

States may not get GST compensation in full, says Finance Ministry

Centre for rate hike to make up for Rs 30K-cr revenue gap

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