Page 13 - Gst Council

Five years of GST: Collections up, but filings decline, shows data

A Business Standard analysis found that returns filed under GSTR-3B declined 13.8 per cent YoY in FY22

Five years of GST: Mistakes that have made the regime a disappointment

Addressing mistakes made while introducing the tax and getting back to a revenue-neutral rate(s) constitute the agenda that awaits attention

Top headlines: 5 years of GST and what lies ahead for the tax reform

In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines

GST Council meet: The Goose Point Theorem for rate rationalisation

The real issue before taxation lies in identifying the Goose Point and the way goes through 'neutral goods'

Small traders to gain in GST relief for e-commerce sellers, transport

For the transport sector, the council lowered GST to 5 per cent from 18 per cent on ropeways, renting of goods carriage, including fuel cost

GST council meeting takes no decision on extending compensation to states

New rates for some items, removal of exemptions with effect from July 18

GST Council defers tax on casinos, lottery; GoM to re-deliberate by July 15

The GoM will have to submit report by July 15 and then the Council will meet either on August 1 or in the first week of August, says FM Sitharaman

Next stage for GST

Rate rationalisation will be critical

From compensation to rates, highlights from GST council's 2-day meeting

The two-day meeting of the GST Council concluded on June 29 without any decision on extending compensation to states by 5 years. Here are key takeaways from the GST Council meeting >

Amid inflation, GST Council withdraws exemption on host of household items

Pre-packed wheat flour, papad, paneer, curd and buttermilk will be taxed at 5 per cent after the GST Council decided to stop allowing exemptions on such items while raising rates on a host of others.

GST Council okays mandatory registration waiver for small online retailers

The waiver, which is subject to certain conditions, will benefit about 120,000 small traders

Rate tweaks to make up for inefficiencies in value chain: FM Sitharaman

Stating that all states are aware of the potential impact of rate rationalisation on inflation, Sitharaman said any increase in tax rates will also make up for the tax burden.

Top headlines: GST on casinos deferred; marketing freedom to oil producers

Briefing reporters about deliberations at the two-day meeting of the GST Council, Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue

47th GST Council meet: Here's what became expensive after Tuesday meeting

The GST Council today is expected to take up extending compensation to the state

GST Council: Stormy discussion around states' compensation likely today

States will demand an extension of the compensation period or a change in the GST revenue distribution formula

GST Council tilts towards rate hikes, drops exemptions for many items

Okays removing the exemption on mass consumption items

Opposition-ruled states demand continuation of GST compensation for 5 years

As the GST Council commenced here on Tuesday, the states have also cited a recent Supreme Court ruling that decisions made by the Council are not binding and states need not stick to them.

Blanket 28% GST could hit online gaming badly in India, says industry

The country's gaming industry is currently estimated at $1.5 billion

GST Council clears proposal to remove tax exemptions on some items

The Council also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers to check evasion

Amit Mitra asks Centre to take decisions at GST council by consensus

In a two-page letter to Sitharaman, the Principal Chief Adviser to Chief Minister Mamata Banerjee and the Finance Department, Dr Amit Mitra, cited a recent judgment of the Supreme Court in this regard