Page 17 - Gst

Will oppose GST on online transactions under 2000, research grants: Atishi

Delhi Finance Minister Atishi on Monday said they will oppose the Centre's proposal to impose GST on online transactions under Rs 2,000 as it would put a burden on start-ups. Atishi also reiterated that at the GST Council Meeting on Monday they would oppose imposition of GST on research grants procured by educational institutions. "There are many important issues that will come up in GST Council meeting. The first and most important is GST on research grants. Show cause notices have been sent to big educational institutes including IIT Delhi and Punjab University. It is wrong. Research is an investment in development of the country," she told PTI Videos. The Centre is not only decreasing research grants but also levying GST if educational institutions procure these grants, she said. The minister said online payments up to Rs 2,000 were exempted from GST but now there are talks that there will be a GST on online payments done through payment gateways. "This will create a burden on

Will raise GST issue on research grants in council meet: Delhi FM

Delhi Finance Minister Atishi on Sunday said she will raise the issue of imposition of GST on research grant procured by educational institutions in the 54th GST Council meeting. Addressing a press conference, the minister said, "The (central) government has reduced budget allocation for research from 2014 to 2024. If an educational institution gets research grant from a private entity, the government imposes 18 per cent GST, which is not justified. We will oppose it." She also said that taxes are not imposed on research grants in foreign countries such as the US and UK. Atishi said the second issue she will raise in the 54th meeting of the GST Council to be held on Monday is the imposition of GST on online transactions below Rs 2,000. "The central government is coming up with a proposal to impose GST on online transactions of less than Rs 2000. No GST was earlier imposed on such small transactions. We will oppose this proposal," she added. The GST Council on Monday is expected to

CBI arrests three in graft case in connection with Rs 60 lakh bribery case

The CBI has arrested three accused, including a superintendent from the Central Goods and Service Tax posted in an anti-evasion wing in Mumbai, in connection with a Rs 60 lakh bribery case, officials said on Sunday. Superintendent Sachin Gokulka, Chartered Accountant Raj Aggarwal and one Abhishek Mehta were arrested when they were allegedly receiving part payment of Rs 20 lakh as bribe, they said. The CBI had registered the case on a complaint against six officers of the Central Goods and Service Tax (CGST), Mumbai comprising Additional Commissioner Deepak Kumar Sharma, Joint Commissioner Rahul Kumar, four superintendents - Gokulka, Bijender Janawa, Nikhil Agrawal, Nitin Kumar Gupta, Aggarwal and Mehta. The case was registered on a complaint of a businessman, who alleged that he was confined for the whole night in the Santacruz office of the CGST on September four when he visited the office. He had alleged that he was released on on September 5 after 18 hours of confinement. "It wa

GST Council to deliberate on taxation of insurance premium, online gaming

The GST Council on Monday is expected to deliberate on a host of issues, including taxation of insurance premium, GoM's suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources said the fitment committee, comprising Centre and state tax officials, will present a report on GST levied on life, health and reinsurance premiums and the revenue implications. The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, will decide on whether to reduce the tax burden on health insurance from the current 18 per cent or exempt certain categories of individuals, like senior citizens. The deliberations will also happen with regard to the goods and services tax (GST) cut on life insurance premium. In 2023-24, the Centre and states collected Rs 8,262.94 crore through GST on health insurance premium, while Rs 1,484.36 crore was collected on account of GST on health reinsurance premium. The issue of taxation on insurance .

AAP labels GST on research grants as 'tax terrorism', seeks withdrawal

The Aam Aadmi Party (AAP) slammed the BJP-led central government on Saturday over the imposition of Goods and Services Tax (GST) on research grants, describing the move as "tax terrorism". The party also demanded a withdrawal of the tax on research grants. For the first time in history, a government is imposing a tax on grants received by research institutes, AAP general secretary (organisation) Sandeep Pathak said at a press conference. The Modi government has issued a notice to all institutes, proposing to impose GST on research grants received since 2017, he said, adding that it was a double layer of taxation since a part of the grants is used on consumables and equipment that are already taxed. Research grants are not taxed in any developed or developing country such as the USA, the UK, Germany, South Korea or Singapore. Imposing GST on research being done for the development of mankind and the country is "tax terrorism", Pathak charged. The Rajya Sabha MP also lashed out at t

K'taka govt urges PM to abolish 18% GST on health insurance premiums

The Karnataka government on Friday urged Prime Minister Narendra Modi to advise the GST Council, which is set to meet on September nine, to abolish the 18 per cent tax on health insurance premiums. "Ensuring a healthy India is a duty of every elected representative, beyond party lines. Imposing 18 per cent GST on health insurance is a regressive move, making healthcare less accessible to the common man," the state Health Minister Dinesh Gundu Rao said. "I have appealed to Prime Minister @narendramodi to take immediate action, advising the GST council to exempt health insurance premiums from GST. It's high time we prioritise the well-being of our citizens," he said in a post on 'X'. Rao said the GST on health insurance is in one of the highest brackets of taxation at 18 per cent and has been so since 2017 despite several protests from all stakeholders including politicians and policy makers across the board. "A GST so high on what is an essential service/necessity, especially in a p

GST relief on health insurance: Council likely to take up 4 options

Expected cost to exchequer likely between Rs 650 crore and Rs 3,500 crore

FM Sitharaman denies 'friction' in Centre-State ties over GST reform

Union Finance Minister Nirmala Sitharaman on Thursday denied any "friction" in the ties between the Centre and States over Goods and Services Tax and emphasised that the federal structure in this economic reform should be respected. Simplifying and easing compliance on the tax payers received top priority rather than raising revenue during all consultative meetings on the union Budget, she said. "Revenue is the last consideration with which every budget meeting happens. You may think that I am not telling the truth. The hard truth I would like to put before you. Yes, we like to raise revenue. During several consultations including those with Prime Minister Narendra Modi, revenue raising came last. But, simplifying, easing and compliance of taxpayers came first," Sitharaman said. Addressing a meeting on "The Finance Minister's Insight: Path Forward" held under the aegis of the Revenue Bar Association here, she said the average Goods and Services Tax (GST) rate decreased to 12.2 per .

Substantial subsidies for electric vehicles are no longer required: Gadkari

At the BNEF Summit, Union Minister Nitin Gadkari highlighted the lower GST rates on electric vehicles compared to those on petrol and diesel vehicles

GST Council to meet on Sept 9; compensation roadmap may stretch into FY26

GST Council agenda includes tax relief for foreign airlines, and clarity on a host of items such as car seats

To facilitate taxpayers in invoice matching, GSTN to launch IMS from Oct 1

GST Network will launch the Invoice Management System (IMS) from October 1 which will facilitate taxpayers in matching their records/invoices vis-a-vis issued by their suppliers for availing the correct Input Tax Credit (ITC). In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched. "This will also facilitate taxpayer in matching of their records/ invoices vis-a-vis issued by their suppliers for availing the correct ITC," GSTN said. IMS will allow the recipient taxpayers to either accept or reject an invoice or to keep it pending in the system, which can be availed later. This facility shall be available to the taxpayer from October 1 onwards on the GST portal. Moore Singhi Executive Director Rajat Mohan said by maintaining a detailed record of all actions taken on each invoice, the IMS creates a ro

E-governance journey in CBIC: Moving towards development outcomes

As the IT system became more scalable, it not only led to better compliance but also made CBIC future-ready and resilient

Munjal Auto gets tax demand notice of Rs 6.7 cr from Haryana GST authority

Munjal Auto Industries is among many companies hit with tax notices within the last week. The company intends to appeal the GST notice

Vodafone Idea slapped with Rs 73 cr GST demand orders, penalty, interest

Debt-ridden telecom firm Vodafone Idea has been slapped with demand orders from various GST offices to pay over Rs 73 crore comprising tax dues with penalty and interest, a regulatory filing said on Monday. The company has received nine orders from various GST offices mostly for alleged short payment of taxes and allegedly availing excess input tax credit (ITC). The GST office in Kolkata has levied highest penalty of Rs 33.44 crore on the company along with demand of tax and interest on September 1 for "Alleged Tax short paid on outward supply, excess ITC availed", according to the filing. Noida GST office has ordered Vodafone Idea (VIL) to pay "penalty of Rs 26,89,94,489 along with demand and interest as applicable" on September 1 for alleged "excess availment of ITC and short tax paid for FY 2019-20" by the company. Patna GST office has levied a penalty of Rs 10.94 crore along with demand and interest on VIL. The company has received a penal order of Rs 4,211 from Chandigarh GST

Nitin Gadkari wants states to pitch for GST cut on flex-fuel vehicles

Share of biofuel will be 50% of fossil fuels in five years, says minister

Nitin Gadkari asks state FM's to reduce GST on flex-fuel vehicles to 12%

Union Minister Nitin Gadkari on Monday said state finance ministers should consider reducing Goods and Services Tax (GST) on flex-fuel vehicles to 12 per cent. Addressing IFGE's India Bio-Energy & Tech Expo, Gadkari also said there is a need to reduce imports of fossil fuels and encourage the use of biofuel. "We need support from the finance ministers of different states. I asked Maharashtra's FM to attend the meeting and propose the reduction of GST on flex-fuel engine cars," he said. Flex-fuel-compatible cars can run on more than one type of fuel and also on a mixture. Typically, a blend of petrol and ethanol or methanol is used. The road transport and highways minister informed that he had requested Uttar Pradesh Chief Minister Yogi Adityanath to consider reducing taxes on flex-fuel vehicles. In a separate meeting with the Maharashtra Finance Minister Ajit Pawar, Gadkari suggested him attend a GST meeting with Union Finance Minister Nirmala Sitharaman on the issue. Gadkari als

India's net GST mopup growth slows to 6.5% in August, shows govt data

Experts say increased refunds key factor but see robust growth ahead with start of festival season

Updates: SP chief accuses BJP of 'moving bulldozer' on martyr's memorial, UP minister denies

Stay with us for all major news updates from across the globe

GST collections rise 10% to Rs 1.75 trillion in August, shows govt data

Gross GST collections in August grew 10 per cent to about Rs 1.75 lakh crore, according to government data released on Sunday. Goods and Services Tax (GST) revenues in August last year were Rs 1.59 lakh crore, while in July the mop-up was Rs 1.82 lakh crore. In August 2024, domestic revenue grew 9.2 per cent to about Rs 1.25 lakh crore. Gross GST revenues from import of goods were up 12.1 per cent to Rs 49,976 crore. Refunds worth Rs 24,460 crore were issued during the month, registering an increase of 38 per cent over the year-ago period. After adjusting refunds, net GST revenue increase was 6.5 per cent at Rs 1.5 lakh crore during the month under review.

UK insurer Aviva conspired to dodge India compensation & tax rules: DGGI

In an attempt to grow operations, Aviva's India business paid about $26 million between 2017 and 2023 to entities who purportedly provided marketing and training services