Page 50 - Goods And Services Tax

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

GST collections in July cross Rs 1-trillion-mark after dropping in June

Central GST was Rs 17,912 crore; and SGST at Rs 25,008 crore

Letter to BS: Slowdown in tax collection is not because of evasion

Government-owned companies which manufacture a very large amount of goods and services do not evade

15th Fin Commission rejects central tax pool demand by Delhi, Puducherry

The Commission will not consider their memorandums

2 years after roll-out, GST glitches still exist, says CAG report

Report also points to slowdown in revenues in FY18

GSTN should test system, fix deficiencies before roll-out to public: CAG

Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime