Page 82 - Gst

GST Council may take up proposal for cutting rate on steel scrap to 5%

The GST rate on other kinds of scrap such as plastic, rubber, and wood has already been reduced from 18% to 5%

Hit by GST recovery notices and summons, industry calls for help

GST authorities are issuing notices containing denial of input tax credit and in many cases they are blocking the entire input tax credit, even if only one vendor fails to deposit GST

Gujarat AAR rules parathas are not ready-to-eat, puts them under 18% GST

Ruling is in response to Vadilal Industries' query on whether they would attract 5%, as in the case of khakras or rotis

SME Chatroom: 'RoSCTL claims must be filed within the stipulated deadlines'

There is no provision of late cut under RoSCTL

How RSS sends clear signals to intended groups while evading accountability

RSS effort to distance itself from Panchjanya as thin as its claim of being a 'cultural organisation'

GST mop-up dips but stays above Rs 1 trillion for the second month

August number contrasts sharp pick-up seen in daily e-way bill generation

Top headlines: Aug GST collection Rs 1.12 trn; AU SFB clears air on exits

Business Standard brings you the top stories this evening

R C Bhargava, Venu Srinivasan face off with govt on auto GST rate

Sales of commercial vehicles in FY21 were the worst in 11 years; for three-wheelers, they were the lowest in 19 years

States' tax revenues lower than two years ago as demand for spending rises

An analysis of 17 states shows that while states' revenue spending in April-June 2021 was 14% higher than the same period in 2019, own revenues were 8% lower

Deduction of interest due to prepayment of usance bill is allowed: Expert

Exporters may approach AD Category-I banks for reduction in invoice value on account of cash discount to overseas buyers for prepayment of the usance bills

Liaison office of WEF in India exempt from GST, rules AAR Maharashtra

Says services rendered by forum's liaison office are not for furtherance of business, and that the office is a public interest not-for-profit set up that needn't be registered under GST law

No GST on canteen charges recovered from employees, says AAR

GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled.

HC grants SpiceJet relief against recovery proceedings by GST authorities

GST authorities had asked SpiceJet to pay tax liabilities of Rs 80.6 crore and furnish details of properties.

BS-Seema Nazareth Award: NK Singh calls for Parliament, GST, health reforms

Finance Commission Chairman shares his vision to make the economy deliver over next 30 years

AAR rules 18% GST on e-voucher traders, on plea by marketing services firm

Rules that e-vouchers are not an actionable claim, and are not exempt from GST. They attract 18% GST as they come under the residual category

Billion-dollar online gaming industry seeks clarity on valuation, taxation

The industry has now come out with a report to make a case for itself, and put forth the matter of taxing the business

Retro tax gone, industry must revive animal spirits: Revenue Secretary

Revenue Secretary Tarun Bajaj says withdrawal of retrospective tax amendments is the government's policy to provide a stable and predictable tax regime

Pooled investment funds likely to attract service tax: Check details here

GST on expenses charged by REITs, InvITs and MFs may result in tax levy of hundreds of crores

PHDCCI calls for 3-tier GST, capping highest slab at 18%

Industry chamber PHDCCI on Wednesday called for a 3-tier GST rate structure, with the highest slab at 18 per cent, to help boost consumption and reduce evasion.

GST officers detect Rs 7.4k cr tax evasion in Apr-June; recover Rs 1,920 cr

GST officers have detected tax evasion of Rs 7,421 crore in the April-June period of the current fiscal, Parliament was informed on Tuesday. In a written reply to the Rajya Sabha, Minister of State for Finance Pankaj Chaudhary gave details of the total tax evasion detected in GST in the last 3 years. In 2019-20, 10,657 cases of evasion, involving Rs 40,853.27 crore were detected. Recovery was Rs 18,464 crore. In 2020-21, Rs 49,384 crore worth GST evasion was detected in 12,596 cases. Recovery stood at Rs 12,235 crore. In the current fiscal up to June, 1,580 cases of Goods and Services Tax evasion involving Rs 7,421.27 crore were detected, and Rs 1,920 crore recovered in April-June 2021. Chaudhary said the GST interface for the taxpayers is on a digital platform and software-based to be used for payment of tax and to comply with the requirements of law and procedure by taxpayers. "However, tax evaders are known to commit fraud even on electronic platforms by way of misrepresentatio