Page 26 - Gst Council

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

GST Council updates: No fees for GSTR-3B for those with nil liabilities

Members of the GST Council discussed issues over videoconferencing in their first meeting since the coronavirus lockdown was imposed

GST Council reduces late fee on GSTR-3B filings for those with liability

For entities with tax liability but which have not filed returns or have filed returns late, the late fee has been capped at Rs 500 without interest

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.

GST Council may discuss ways to gather funds for states' compensation

Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May

Conflicting rulings at state level fuel call for setting up centralised AAR

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago

Will consider corporation tax rate benefit extension: FM Sitharaman

Says GST rate reduction to go to Council; Council is likely to meet on Friday through video conferencing.

Centre's compensation cess collection in April down 90% YoY at Rs 990 cr

States worries on revenue front will aggravate, unless GST Council, which meets next week, decides to borrow from markets

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.

Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states

States have been up in arms against the Centre over the non-payment of compensation dues according to the calender

Reimagining GST for the post-Covid era

Revival of economic activity should overwhelm its agenda

GST Council to take up late fee waiver for GSTR 3B returns in next meeting

The current requests for waiver of late fee pertain to the old periodm from August 2017 to January 2020

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

Invest in trust to promote entrepreneurship

What we observe currently is a dilution of the formal channels of communication, while there is not much evidence of the informal ones evolving

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.

GST compensation to states pending for December-March FY20: Sitharaman

The Centre has, so far, released over Rs 2.45 trillion as GST compensation to states since the implementation of the new indirect tax regime on July 1, 2017

Fiscal stimulus by FM is mostly credit oriented, says Subhash Chandra Garg

He said that the fiscal stimulus, by its very nature, is additional fiscal burden on the public finances

Move petroleum to GST: The time is now

The health crisis is a moment of reckoning and an opportune time to revisit GST policy-design

Creating fiscal space for the states

In the second part of a series, the authors say the current uncertainties require room for discretion to serve as a necessary handmaiden of rules that cannot alone cater to all contingencies

Covid-19 crisis: Govt extends validity of e-way bills; gives relief in ITC

The Centre has also deferred the application of restricted input tax credit (ITC) of 10% under goods and services tax (GST), providing relief to industry