Page 87 - Gst

Govt waives late fee on delayed filing of March, April GSTR-3B, tax payment

The government has waived late fee on delayed filing of monthly return GSTR-3B and tax payment for the months of March and April and also cut interest rate for late filers

'FTP benefits are available against settlement of claims by ECGC'

Expert answers readers' SME queries related to excise, VAT and exim policy

Centre surpasses its revenue targets but higher food subsidy cancels gains

While govt made Rs 1.16 trn more revenue, it spent Rs 1.18 trn more on food subsidy too. But it can be said that the govt used the gains it made to settle FCI arrears once and for all

GST officers to soon have real-time data on vehicles moving without e-way

The government is working on a system to soon provide report to GST officers on a real-time basis for those vehicles which are moving without e-way bills

Flavoured milk taxable at 12% under GST: AAR rules in Amul dairy case

Flavoured milk is basically 'beverage containing milk' and will attract 12 per cent GST, the Gujarat Authority for Advance Ruling (AAR) has said

Flavoured milk to draw 12% GST: Gujarat-based Authority for Advance Rulings

The ruling was delivered in a case filed by Vadilal Industries for its product Power Sip. Harpreet Singh, partner at KPMG, said the government should now clarify its position on this issue

Central govt's indirect tax collection up 12% in FY21, GST number falls

Customs duty collections stood at Rs 1.32 trillion during FY'21, representing around 21 per cent growth.

Exempt Covid drugs from GST, transfer Rs 6k to eligible: Sonia Gandhi to PM

Congress interim president Sonia Gandhi has written a letter to the Prime Minister and asked him to exempt the medicines and equipment required for Covid-19 treatment from GST

GST: Firms challenge constitutional validity of arrest rules in top court

Counsel for companies raises concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests

Best of BS Opinion: The GST puzzle, infecting public health, and more

Here's a selection of Business Standard opinion pieces for the day

The GST puzzle

The sharp rise in GST collection in March could be a false indicator if further rate reforms are delayed

Pay Rs 79-cr GST dues to operate bank accounts, HC tells ByteDance

The indirect taxes department has accused ByteDance of evading taxes and not paying its GST dues in full, a charge denied by the Chinese firm

Surrender proportionate incentives to remit export claims: Expert

File the annual return for the year 2020-21 on or before April 30, 2021

Robust kickoff to FY22 marred by anxieties over Covid resurgence

The financial year 2021-22 has started well, except that the anxieties due to the spread of coronavirus in India and abroad have increased. Hopefully, they too shall pass

GST to be levied on underlying goods/services in gift vouchers, rules AAAR

The Tamil Nadu bench of the AAAR has ruled that GST would be levied on the underlying goods/ services at the time of redemption such pre-paid instruments.

GST dilemma: Contradictory AAR rulings leave industry perplexed

States like Punjab and Delhi have reported delays in disposing of AAR applications.

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.