Page 49 - Goods And Services Tax

GST system redesign neither desirable nor feasible, say tax experts

Experts want the GST Council to prepare a detailed road map for the next two-three years to provide an environment of tax certainty for businesses

Finance commission chief Singh blasts frequent tinkering with GST rates

He also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog

Telcos' AGR dues to outweigh two-year breather for spectrum payment

Incumbent telcos Bharti Airtel and Vodafone Idea have said they would go for a review petition of the SC order, but they have limited time to move court

The problem with investment scores

The various reports on investment climate of states do not match the ground reality

GST compensation delay: States considering legal action against Centre

Central govt official says will release funds before end of this month

States concerned over GST compensation delays, ask FM to speed up payments

Punjab is awaiting Rs 2,100 crore as compensation while arrears stand at Rs 2,000 crore

Amit Mitra writes to FM, calls for 'urgent' GST meet to plug loopholes

GST revenue fell below the Rs 1-trillion mark for the third straight month in October, and was 5.3 per cent lower than the corresponding month last year, at Rs 95,380 crore

HC issues notice to Centre over input tax credit denial to restaurants

GST rate on restaurants was cut from 18 per cent to 5 per cent in November 2017, but without any input tax credit

Simplifying GST: Govt plans mass outreach programme for return filers

FM Sitharaman meets stakeholders; pan-Indian initiative for new forms on December 7

Deadline for GST filing, returns extended to March 31; forms simplified

The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019

Commerce Ministry raises issue of notices to exporters for GST 'violation'

The commerce ministry has stated that the 'overzealous revenue collection' move by Directorate of Revenue Intelligence was against exporters

Experts suggest Singapore GST model to ensure ease of compliance in India

Citing the Singapore model, experts have suggested the introduction of new user-friendly measures to ensure ease of Goods and Services Tax (GST) compliance in India. The grievance redressal mechanism under the Singapore GST is very refined unlike Indian GST where the help lines are mostly of no help and advance ruling authorities are heavily revenue biased, failing to achieve the purpose with which they were formed, said Sandeep Chilana, managing partner, Chilana & Chilana law offices. Ease of compliance is the foremost thing India needs to learn and adopt from implementation of value added tax or Goods and Services Tax in developed jurisdictions, including Singapore, he said. While India is shortly moving to a single form regime, the information required to be filed is still extensive. The other important aspect is clarity in law. Despite two years having passed, there are still many grey areas such as inter-office services which require immediate attention, Chilana ...

Oct GST collections remain subdued at Rs 95,380 cr despite festive season

This is the third consecutive month when GST mop-up remained below the Rs 1 trillion mark, despite October being a festive month

Food grain may be brought under GST, tax mechanism likely to be rejigged

Through this route, registered entities can pay GST on behalf of unregistered players

Gas and ATF likely to be brought under GST soon, says govt source

Experts said that the ATF price would come down if it is kept in the 18% GST bracket

Experts call for multiple GST rate cuts in India citing Singapore example

Singapore has only one tax rate under GST- seven per cent -- on taxable goods and services while India has multiple slabs to charge the indirect tax

India growing fast, has tremendous potential, says Blackstone co-founder

Stephen A Schwarzman on why he is still bullish on India, how loss makes for the deepest learning's, and how corporate culture is the difference between winning and losing

GST will cause inflation; burden common man and small firms: P Chidambaram

Anti-profiteering provision in the new law will be an instrument of harassment, says Chidambaram

Note ban, GST was 'utter contempt of public opinion': Chidambaram

Senior Congress leader P Chidambaram today hit out at BJP for its resolution supporting implementation of GST and demonetisation, saying it was "utter contempt of public opinion". "BJP national executive supported implementation of GST. They should talk to traders & businessmen in their own party," he said in a tweet. Chidambaram also said the BJP national executive's support to demonetisation is "utter contempt of public opinion". In its national executive, the BJP adopted a six-point agenda, including one on praising the roll out of the GST which led to "one nation, one tax". It claimed the NDA government had "delivered" on its promise on corruption and black money, adding that demonetisation, a move which invited sharp criticism from opposition, "broke the backbone of black market as well as the black money hoarders".

FY20 gross tax revenue likely to fall short by around Rs 2 trillion

FinMin is said to have shared assessment with 15th FC