Page 92 - Gst

States' GST compensation requirement to swell to Rs 4.1 trn in FY21

This is equivalent to 2.1 per cent of the country's estimated GDP

Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers

The National Anti Profiteering Authority has ruled that the realty firm has benefited from additional input tax credit

GST boost to MSMEs

The definitional changes made for MSMEs would address the problem of "dwarfism"

Time to boost P2P lending

As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders

Story in Numbers: Sanganeri textile exporters drained of colour in Covid-19

The sector was trying to emerge from the aftereffects of the implementation of GST when the pandemic struck

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

Not a single demand made by states has been met: West Bengal FM Amit Mitra

The Union Finance Minister's press conferences makes it appear that India is ruled by the central government, says Amit Mitra

Samsonite India fined Rs 25.74 cr, served show-cause for profiteering

Firm accused of not reducing prices of its products after GST Council brought down the tax rate from 28% to 18%

Executive director is employee, not liable to pay GST: Karnataka AAR

The ruling runs contra to those of other state AARs, which have held all directors are liable to pay GST

It's high time govt worked with trade to revive economy

The government cannot turn a blind eye, as if there were no errors on the GSTN portal

Govt defers release of April GST collection data amid Covid-19 lockdown

In 2019-20 fiscal, Goods and Services Tax (GST) collection had remained above the key Rs 1 trillion mark for 7 months out of 12

GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak

The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms from routing transactions through other countries to avoid taxes

IBA demands recast of loan accounts of small firms amid Covid-19 crisis

The RBI had permitted a one-time restructuring of existing loans to GST-registered MSME units

GST rates and the medical devices industry

Let us use the GST rate regime to build up a strong domestic industry in sectors like pharmaceuticals and medical devices that can play to our strengths in labour-intensive production

Will more foreign financing be needed?

It is important to remove the frictions, to connect the infinite capital of the global financial system with end-users in India

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

Covid-19: Govt unlikely to exempt GST on masks, ventilators, and PPEs

GST exemption on such items would jeopardise the interest of the industry and would not result in any significant gains to consumer

Govt likely to face shortfall of Rs 10 trn due to coronavirus: Subhash Garg

Elaborating on the fiscal situation, the former finance secretary said that indirect taxes, GST, excise duty on petroleum products and customs will under-perform

Businesses can claim GST refund for services, goods contract cancellations

The CBIC issued a set of clarifications in view of certain challenges being faced by taxpayers in adhering to the compliance requirements following the coronavirus outbreak

The long shadow of FY20 on Centre's finances can not be missed by anybody

There may be no official word yet on how the Centre's tax revenue assumptions for the current year have gone awry