Page 87 - Gst

Recovery on a roll: GST mop-up hits record Rs 1.24 trillion in March

Tax collections exceed Revised Estimates; Centre's fiscal deficit expected lower than 9.5% of GDP in FY21

Tamil Nadu AAAR clears air over GST on vouchers, says taxable on redemption

As such, GST would be imposed on goods and services bought through vouchers

Covid impact: Govt extends current foreign trade policy till September 30

Exemption from payment of IGST and compensation cess on the imports made under advance authorisations and by export oriented units has also been extended

Govt improving GST evasion detection but recovery a problem: CAG report

Authorities were good at recovering amounts from medium firms but failed to pin down large and small ones.

GST technical glitches behind input tax credit frauds: CAG report

CAG recommended fixing a definite time frame for rolling out simplified GST return forms

Cannot bring petrol, diesel under GST for next 8-10 years: Sushil Modi

BJP leader Sushil Kumar Modi on Wednesday said it is not possible to bring petrol and diesel under the GST regime for the next eight to 10 years

How LDF's handling of three crises could shape the poll narrative in Kerala

The electorate is most likely to rate the govt on its response to the flood, its management of the economy after GST, and its recent response to Covid-19

In spite of the pandemic

The Budget for 2021 makes a fresh beginning in dealing with numbers and estimates

Tolerating an act for a consideration is a taxable service: Expert

Our account with the Customs was flagged as "risky exporter" and our claim for refund of IGST paid on export goods was blocked

No proposal for scrutiny of GST assessment in faceless mode: Thakur

There is no proposal of faceless scrutiny assessment of GST returns as the Goods and Services Tax rule already provide for electronic filing and assessment, Thakur said

States may face Rs 3 trillion GST compensation shortfall in FY22: Report

This will force them to borrow more from the markets, says a report

100% of estimated GST compensation shortfall of Rs 1.1 trn released: Govt

Starting from October 23, 2020, the borrowings were completed in 20 weekly instalments

No proposal to bring petrol, diesel, ATF, gas under GST: FM Sitharaman

The announcement comes amid record-high fuel prices

Delhi govt in favour of bringing petrol, diesel under GST: Satyendar Jain

The Delhi government is in favour of bringing petrol and diesel under the Goods and Services Tax (GST) regime, Home Minister Satyendar Jain said in the legislative assembly on Wednesday.

Bring petrol, diesel under GST: Maharashtra dy CM Pawar urges Centre

Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday demanded that petrol and diesel be brought under the Goods and Services Tax (GST)

A dive into five contentious issues contained in Finance Bill, 2021

Govt may have to respond to concerns over equalisation levy, exporters issues, definition of the term 'liable to tax' and taxability of interest on employees' EPF contributions exceeding Rs 2.5 lakh

Centre releases Rs 1.06 trn GST compensation shortfall to states since Oct

The Centre has released Rs 1.06 lakh crore to the states since October 2020 to meet GST compensation shortfall, the Finance Ministry said on Tuesday. The ministry has released the 19th weekly instalment of Rs 2,104 crore to 23 states and 3 Union Territories with Legislative Assembly (Delhi, Jammu & Kashmir & Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1.06 lakh crore. The remaining five states of Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim do not have a gap in revenue on account of Goods and Services Tax (GST) implementation. So far, an amount of Rs 1,06,104 crore has been borrowed by the Central Government through the special borrowing window at an weighted average interest rate of 4.8842 per cent, the ministry said in a statement. The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of Rs 1.10 lakh crore in revenue arising on account of ...

GST fraud of Rs 20,124 cr detected during Nov 9-Jan 31: Sitharaman

A nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit fraudulently is being carried out, FM said in a written reply to Rajya Sabha

Merchandise export receivables can't be set off against service import dues

You may remit the amount against the import of services separately and ask the buyer abroad to remit the full payment against your export bill

GST e-invoicing mandatory for turnover of Rs 50 cr and above from April 1

The government had earlier planned to extend e-invoicing to all entities from April 1, 2021, but has refrained, taking care of interest of small entities