Page 11 - Gst Collection

GST compensation row: State govts ask Centre to borrow and pay

The finance ministry on Saturday officially communicated the finer details of the two options to states to make up for the compensation shortfall by way of borrowings

West Bengal rejects Centre's borrowing propositions to meet GST shortfall

Says will engage with other states to take collective steps

Icra finds FinMin's estimates of GST compensation gap much smaller

Estimates by Icra put the total gap at Rs 2.92 trillion against the ministry's estimates of Rs 2.35 trillion

FinMin unlikely to take Covid-hit FY21 as a base for FY22 Budget

FY20 is being considered for a 'more realistic comparison'

Economic activity reviving; GST collections good sign: CBDT chief Mody

He tells Dilasha Seth, in an interview, that 58,000 cases will be assessed through the faceless mechanism by October.

GST compensation period: States likely to push for five-year extension

Set to seek higher borrowing limits as revenues dry up

Covid won't deter us from path of speedy GST reforms: Ajay Bhushan Pandey

While not affirming new timelines for the simplified returns forms, Pandey says invoice matching is already happening at the back-end and quarterly payments are allowed for small taxpayers.

Covid-19 crisis: States divided on alternative GST compensation mechanism

While Punjab and Kerala will press the GST Council to borrow in order to compensate states, Bihar Deputy Chief Minister Sushil Kumar Modi called the idea "wishful thinking"

The past three years of GST and the road ahead

The journey has been a mixed bag, as several issues remain unresolved: Let's turn back and revisit what GST has attained and it couldn't

Centre profiteering from price hike, says Sonia; Pradhan rebuts charges

Pradhan, however, said Congress-ruled states were equally responsible for an overall rise in oil prices

GST effect: How retail inflation rate changed over the last 3 years

The inflation rate in cigarettes hit double digits during July-March of FY18, but came down in the next two years

Centre should give guarantee for GST Council borrowing: Kerala FM

We are expecting a 15% decline in the state GDP in FY 21, said Issac Thomas

Revenue and compensation on table at GST Council meeting on Friday

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

Best of BS Opinion: Covid-19 impact on jobs, preserving the IBC, and more

From what the upcoming GST Council meet should focus on to how Trump's response to the protests helped it spread beyond its borders, here's a selection of Business Standard Opinion pieces for the day.

Reimagining GST for the post-Covid era

Revival of economic activity should overwhelm its agenda

Covid-19 crisis: Central GST collection falls 87% in April amid lockdown

The dip in revenue collections is being attributed to the country being put under lockdown to contain the coronavirus from March 24 and return filing being deferred

Govt unlikely to press for hike in GST rates for non-essentials next month

However it will have to find ways in which essential and non-essential items can be segregated

Centre considers market borrowing for GST compensation to states

Raising GST rates or rationalisation of tax slabs may be discussed by the GST Council in the next meeting to be scheduled early next month.

Clear picture of April GST collections will come by June-end: Finance secy

The government had in March extended the deadline to file GST returns for taxpayers with turnover of over Rs 5 crore by 15 days till May 5

Covid-19 may prompt states to hold on to revenue sources outside GST

Given the states limited capacity to mobilise revenues, it will be difficult to bring oil, fuel and tobacco under the purview of GST in the near future