Page 47 - Goods And Services Tax

BS Banking Annual 2019: Indian banks safe, say SBI, HDFC Bank chiefs

HDFC Bank MD Aditya Puri and SBI Chairman Rajnish Kumar discuss the present and the future of the industry in a fireside chat

GST Council may crack down on fraudulent invoices, input tax credit refunds

The law committee has proposed blocking of input tax credit for errant businesses "with the intent to safeguard government revenue''

Govt sets Rs 1.1 trillion as monthly GST target for tax officials

Four of eight months in this fiscal year have delivered less than Rs 1 trn collection

Post GST, FMCG firms top in consumer complaints for over-charging customers

As per official data, as many as 42 consumer complaints were registered against various FMCG companies with many of them found to be not passing the benefits of lower tax rates

Budget 2020: IT firms want 15% corporate tax for services companies in SEZs

The sunset clause for SEZ nearing - March 31, 2020 - and the IT industry has been a big beneficiary of the policy

EAC of Finance Commission deliberates on ways to improve tax collections

Talking to reporters, Finance Commission Chairman N K Singh said the Commission plans to make recommendations on Goods and Services Tax (GST), which will be for the GST Council to consider

Top 10 headlines: GST compensation cess, Zomato-UberEats deal, and more

Finance ministers of non-BJP-ruled states are likely to discuss on Monday their strategy for the GST Council meet

GST Council meet may turn stormy over states' cess; Rs 50k-cr dues pending

The Centre has, so far, not given any definite timeline for making the pending compensation cess payments to states, thereby triggering a face-off between the two sides

Industry favours staggered GST returns, seeks HSN code only up to 4 digits

In the new returns, there would be one main form - GST RET-1, which will contain details of all supplies made, input tax credit availed, and payment of taxes.

Centre will honour GST compensation payment to states, says FM Sitharaman

This monthly compensation was to be paid within two months but states haven't received any such amount since August 2019

Soon, govt may introduce lottery system to incentivise GST filing

On the lines of the Delhi government's scheme for consumers under the VAT regime, the Centre's lottery system will aim to increase compliance

Name inadvertently mentioned as head of GoM on IGST, says Sitharaman

She said that while she was meeting states regarding GST compensation issue, "there was a confusion", that Nirmala Sitharaman has withdrawn from a GoM

GST in Kashmir will erode the Valley's special status, protest traders

The shutdown call was given by Kashmir Traders and Manufacturers (KTMF)

GST in Kashmir: Traders march against new regime with black flags; detained

A special session of the state legislature began today to discuss GST implementation

GSTN to be converted into a fully govt-owned company in 3-4 months: CEO

The GST Council had decided to convert it into a fully govt-owned company in May, 2018

Top 10 biz headlines: Swinging fortunes for India's rich, GST rates & more

From Insolvency and Bankruptcy Code (IBC) amendment to India's coal power usage, here are the top 10 business headlines of the day

Higher GST rate on mobiles, fabrics likely to boost revenue collection

The GST rate on mobile phones is 12%, whereas that on phone parts and batteries is 18%

Fiscal deficit may slip to 3.5-3.8% in FY20; govt set to miss 3.3% target

The FRBM Act, after its amendment in 2018, allows a fiscal deficit slippage of not more than 0.5% for any given year, provided there are justifications

Liquidity crunch is mostly behind us, says Tata Sons' N Chandrasekran

Chandrasekran said the goods and services tax (GST) regime and the Insolvency and Bankruptcy Code (IBC) are historic decisions.

Falling GST collections: Parliamentary panel asks Centre to address issue

The Centre has paid Rs 45,745 crore as compensation to states for their revenue loss under GST for the first four months of the current financial year