Page 19 - Gst Council

HC issues notice to GST council over non-inclusion of petrol, diesel prices

The court issued the notice to the Goods and Services Tax Council on Monday

GST rationalisation: Challenge and response

A revision of slab rates may create some disquiet, but, if cleverly crafted, it could be a game-changer for manufacturing

Refund interest paid on ineligible input tax credit, says industry

The levy of interest on availed but unutilised input tax credit is a subject of significant disputes in GST since its implementation

Think tank seeks higher 18% GST on tetra pack from current 12% slab

A think tank has requested GST Council to levy a higher tax of 18 per cent on tetra pack, arguing that the product is incorrectly categorised in the 12 per cent slab as a paper-based aseptic packaging

IT-BPM industry welcomes GST clarification on intermediaries

This is a long-standing issue between the IT-BPM industry and the government

GST Council extends concessions on certain Covid drugs till Dec 31: FM

The all-powerful GST Council on Friday extended concessional tax rates on certain Covid-19 drugs by three months till December 31

GST Council meet on Friday: Profiteering cases likely to go to CCI

The Council will also discuss bringing petroleum products within the GST ambit

GST Council meet on Friday; rate review, concession to Covid drugs on cards

The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items and extend till December 31, tax concessions on 11 COVID drugs. Also, taxing petrol and diesel under the single national GST tax and a proposal to treat food delivery apps such as Zomato and Swiggy as restaurants and levy a 5 per cent GST tax on supplies made by them would be taken up by the Council at its meeting in Lucknow on September 17. "Finance Minister Smt @nsitharaman will chair the 45th GST Council meeting at 11 AM in Lucknow tomorrow. The meeting will be attended by MOS Shri @mppchaudhary besides Finance Ministers of States & UTs and Senior officers from Union Government & States," the Finance Ministry tweeted. The Council, comprising central and state finance ministers, will deliberate on the proposal of extending the existing concessional tax rate structure on Amphotericin B, Tocilizumab, Remdesivir and ...

GST on ice cream parlours may lead to litigation, say experts

The Council said ice cream parlours would draw 18% GST

Quick analysis of petroleum's contribution to Centre and states' exchequer

Petroleum's share of taxes not included in GST rose to 20% in FY20. While 40% of this should go to the states, the Centre has been raising cess on petroleum, which isn't shared with states

States slam FM plan to not extend GST compensation after June 2022

Opposition-ruled states saymatter was deferred for further discussions during Friday's meeting

Oppn-ruled states demand extension of GST compensation beyond June 2022

Finance ministers of Opposition-ruled states have demanded that the GST compensation cess regime be extended beyond June 2022.

Nasscom hails GST Council's clarification on 'intermediary services'

Nasscom on Saturday said the GST Council's clarification on scope of intermediary services will ensure that BPM exports/R&D exports and IT services-related exports are no longer denied the export status by the enforcement authorities. On Friday, GST Council's recommendations included issuance of certain circulars to remove ambiguity and legal disputes on various issues. This included clarification on scope of "intermediary services" and clarification relating to interpretation of the term "merely establishment of distinct person" with reference to a section of the IGST Act 2017 for export of services. "Nasscom welcomes the decision of the GST Council to issue a circular to clarify the scope of intermediary services. We expect this to lay at rest a long pending issue for the BPM industry and ensure that BPM exports/R&D exports and IT services related exports will no longer be denied the export status by the enforcement authorities," Nasscom said in a statement. Nasscom also ...

Top headlines: Swiggy, Zomato to pay GST, Covid vax export curbs may ease

Business Standard brings you the top headlines on Saturday

Swiggy, Zomato to pay GST from Jan; expensive life-saving drugs exempted

GST Council decides against inclusion of petroleum

GST Council extends levy of compensation cess till March 2026

The GST Council has agreed to levy compensation cess for an extended period upto March 2026 to enable the Centre to repay the loans, to compensate states for GST collection shortfall

Top headlines: Govt guarantees Rs 30,600-cr for bad bank; GST meeting today

Business Standard brings the top headlines of the day

Compensation cess and petroleum to fire up GST Council meeting

The Centre is likely to convey that GST revenues would do better than expected this year and a compensation cess of Rs 1 trillion would be released to states

Next steps for GST Council

It should address issues with a longer-term view

GST council: Kerala to oppose move to bring petrol, diesel under GST regime

Kerala on Thursday said it will vehemently oppose any move to bring petrol and diesel under the GST regime as that will further reduce revenue generation for the state