Page 49 - Goods And Services Tax

Auto industry may have to wait longer for GST cut on cars from 28% to 18%

Will be a political call now; state finance ministers to decide on September 20

Exporters still face various problems

Hopefully, the government will take note and make life easier for exporters

Two years of GST: How the states are doing

There are some common trends observed among states with a large shortfall

Manufacturing growth down at 15-month low in August on demand slowdown: PMI

This is the 25th consecutive month that the manufacturing PMI has remained above the 50-point mark

GST collection falls below Rs 1 trillion in August: Govt data

Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 trillion

300 fresh pharma unit applications up for approval in Gujarat: FDCA

As per the state FDCA commissioner, the state has benefited from the introduction of GST

MSMEs to get pending GST refunds within 30 days: Nirmala Sitharaman

Banks will also have to return all documents within 15 days of a loan closure, helping borrowers whose mortgaged assets are tied up

Govt offers resolution for pre-GST disputes with tax authorities

There will also be an amnesty scheme. Under this, the assessee will have to voluntarily disclose the due taxes

No sectoral relief

Tax cuts for specific industries must be avoided

Closer look at CAG audit of GST reveals systemic flaws, not just glitches

Granular, comparable and regularly updated data on GST has never been shared by the government with researchers or the public

Govt must raise expenditure on infra, focus on rural income: Experts

Resolve NBFC crisis, ask banks to transmit MPC's decisions, they say

Rural investment is the best way to revive economy, says Pronab Sen

The informal sector is starting to crawl back, and taking back some of the space it had given up after demonetisation

Auto industry unanimous on its demand for GST cut to 18%, says SIAM

SIAM said Hero MotoCorp Chairman Pawan Munjal had also emphasised on this point on immediate GST reduction at the meeting with finance minister Nirmala Sitharaman

Letter to BS: Reason for under performance of revenues is not evasion

The real reason for under performance is slowdown in the economy and fixing the target too high keeping fiscal deficit in view

Revenue department to brief PMO on Rs 1.67-trillion tax shortfall

Despite a cut in the income tax collection target in the full Budget compared to the interim Budget projections, the target is far from realistic

The big GST question

GST is clearly underperforming - so what should the govt do now?

Hyundai Kona prices reduced by Rs 1.58 lakh after GST revision for EVs

The reduced Kona Electric price is effective from August 1, 2019

CAG flags deficiencies in functioning of GST

The return mechanism's complexity and technical glitches resulted in rolling back of invoice matching, rendering the system prone to ITC fraud

GST collection over Rs 1 trillion in July despite subdued CGST and SGST

However, the central and state portions remained subdued, posing a challenge for the revenue target for the financial year

Taxation blues

CAG raises valid issues on revenue system inadequacies