Page 92 - Gst

Bengal FM writes to Nirmala Sitharaman to seek GST Council meeting

West Bengal FM Amit Mitra is seeking a meeting of the GST Council for discussions on Centre's borrowings to meet the collection shortfall

DGGI's Mumbai Zonal Unit busts Rs 408-crore GST fraud, arrests 4

The Directorate General of GST Intelligence has arrested directors of four companies on charge of involvement in GST fraud totalling Rs 408 crore, an official said here on Thursday.

Experts wary about sustainability of Rs one trillion GST collections

They believe the October mop-up may have resulted from pent-up demand, are sceptical about the post festive season scenario

Top headlines: Future Retail files caveat in HC, US poll effect on markets

From how markets will react to US elections to Adani group being favourites for Sri Lanka port, Business Standard brings you the top headlines of the day

GST borrowing to meet states shortfall must be reasonable: Finance Secy

So far, 21 states and 3 Union Territories have opted for the borrowing plan proposed by the Centre

GST shortfall: Centre to transfer Rs 6,000 crore to 16 states, three UTs

The Centre had on October 23 transferred Rs 6,000 crore to 16 states and 2 UTs of Delhi and Jammu and Kashmir

Tax mop-up showing signs of pick up, economy on revival path: Finance Secy

Pandey said the generation of e-way bills, needed for transportation of goods, is back to pre-Covid levels and online payments have risen exponentially

UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

Petroleum ministry says it supports including natural gas under GST

Decision that has to be taken by the GST council, says senior civil servant.

States will need years to recover from 'scissor effect' of Covid: RBI

Phenomenon refers to loss of revenues due to demand slowdown, coupled with higher expenditure associated with pandemic, may push the states to great strife

BP wants bigger pie of India fuel market, bats for natural gas under GST

Firm to create 80,000 jobs by increasing fuel retail outlets, along with Reliance, to 5,500 in 4-5 yrs

Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

GST officials arrest 1 person for trading in fake invoice, generating ITC worth Rs 52.19 cr

GST officials have busted a fake invoice trading racket and arrested a person for passing on input tax credit (ITC) of over Rs 50 crore, a source said on Sunday.

Best of BS Opinion: Interest-waiver issue, Covid-19 crisis, and more

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

GST officials bust racket for availing Rs 50 cr illegal input tax credit

Khatri was generating illegal availment and wrongfully passing on of Input Tax Credit (ITC) to the tune of Rs. 50.24 Crores

Liaisoning services by branch of foreign firm to attract GST: Karnataka AAR

The order came in a case related to business and promotion activities by the Bangalore-based branch office of a company, the head office of which is incorporated in Germany

Businesses, govt spar over fraudulent ITC claims and imprisonment under GST

Companies may challenge jailing provisions, say Section 69 of central GST Act is arbitrary as it empowers commissioners to arrest persons they have "reasons to believe" have claimed fraudulent ITC

It is a game of skill: Rajasthan High Court rejects plea to ban Dream11

Court says games offered on platform involve skill, not chance; rules that issue of GST evasion, as alleged in the plea, will be decided by GST authorities

Centre, states relations worsen over farm bills, GST compensation

Invocation of tripartite agreement with Jharkhand strains ties further

Top trader-retailer body moves govt against Amazon, Flipkart festive sales

Says hefty discount amounting to predatory pricing, cashback by credit and debit card banks and high interest rate on EMI offered to buyers need to be scrutinised