Page 94 - Gst

CBI books GST Asst Commissioner Deepak Pandit for undeclared income

In a tweet in 2018, Ashoke Pandit had described him as his "younger brother"

West Bengal FM Amit Mitra worried over Rs 11,000 cr GST dues to state

Says while Centre had targeted collection at 21%, actual figure has been hovering at 1.5%

Odisha expecting GST compensation grants of Rs 6,200 cr for FY21

State GST is the single largest component of Odisha's tax revenue

Foreigners' interest in India remains intact for now, says Samir Arora

As of now, it seems that the markets are seeing through the coronavirus issue and playing for the phase when the virus is contained and does not create any uncertainty or risk.

Trade wants GST Council to change late payment rule

Demands on the basis of gross tax liability can be held in abeyance

Centre approves levy of 28% GST on lotteries from March 1, rate notified

The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification

Letter to BS: Fix GST rate on services at 18% with no input tax credit

To avoid tax on tax, the GST rate should be first brought down to 2 per cent or 5 per cent for manufacturers when they purchase raw materials.

Centre releases Rs 19950 cr GST compensation to states, total at Rs 1.2 trn

In a statement, the finance ministry said Rs 19,950 crore was released to states and union territories on last Monday

Reforming GST

We must simplify, lower and make GST comprehensive to fulfil its promise

States to get Oct-Nov GST compensation before next Council meet

The Centre has estimated a compensation cess shortage of Rs 63,200 crore in 2019-20 (FY20)

About 92% of large taxpayers filed annual returns for 2017-18: GSTN

The data shows that the number of taxpayers with a turnover of more than Rs 2 crore is 12.42 lakh, which is only 13.4 per cent of the total 92.58 lakh regular taxpayers.

Will calculate interest on delayed GST payment on net tax liability: CBIC

There have been cases where GST assessees have paid taxes after due date but did not pay the interest due on account of delayed payment

New GST filing format, e-invoicing to help in reporting for taxes: GSTN CEO

There is a need for standard to ensure complete interoperability, he said

Exporters' 634 fraudulent GST refund claims worth Rs 1,912 cr detected

"The Government has taken measures to use data analytics to identify risky taxpayers and verify them before sanction of refunds," Thakur said.

Rs 81,043 cr GST compensation released to states for Apr-Sep: Govt to RS

GST compensation cess of Rs 7,607 crore was collected in October, Rs 7,727 crore in November, Rs 8,331 crore in December and Rs 8,637 crore in January

Top 10 biz headlines: Full GST compensation unlikely; unemployment at 7.2%

From Centre hinting states unlikely to get full GST compensation to Amazon seekING interim stay on CCI order, here are top 10 business headlines of the day

States bearing the brunt of GST slowdown as revenue declines by 3.9%

The assumption of 14 per cent assured growth rate aggravates the revenue stress

Centre to release another Rs 35,000 cr GST compensation to states soon

Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on the base year of 2015-16

Some Budget proposals prone to litigation, may give rise to tax disputes

Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence

FM Sitharaman pitches for rationalisation of GST rates once a year

'I think we have laid the foundation for increasing consumption', said the finance minister