State Gst Bill

States must get GST loss compensation; growth should benefit all: Kerala FM

Kerala Finance Minister KN Balagopal on Sunday said GST rate rationalisation benefits should be passed on to the common people, but if there is no compensation for the annual revenue loss, then states will be unable to continue to meet their social responsibilities. For Kerala, the annual revenue loss due to the GST rate rationalisation is estimated at Rs 8,000 crore to Rs 10,000 crore. Asserting that economic growth should be beneficial for the entire country, Balagopal told PTI that progressive taxation should not mean less tax for all and high-income or high-end luxury goods should be taxed more, which is the general good taxation practice. The Goods and Services Tax (GST) Council, which represents the Centre and the states, approved a two-rate GST structure -- 5 and 18 per cent -- on September 3. The revised rates, to be effective from September 22, will bring down the prices of a large number of items. While Kerala has welcomed the rate rationalisation exercise, it is concerne

Delhi GST Amendment bill passed in Assembly amid heated exchanges

Delhi Chief Minister Rekha Gupta and her predecessor Atishi sparred over The Delhi Goods and Services Tax (Amendment) Bill, 2025 in the state assembly, which was later passed in the House. The Aam Aadmi Party leader called for a discussion on the amendments. However, Speaker Vijender Gupta said when the AAP was in power, it never allowed discussion on it. Former minister in the AAP government and now a BJP MLA Kailash Gahlot said, "I have also been a finance minister and have presented the budget also. This is a mere formality." In response, Atishi said that it is not the central GST bill that is being discussed but The Delhi Goods and Services Tax (Amendment) Bill, 2025 that has been introduced. "Calling it a mere formality is an insult to the House," she said. The speaker allowed her to present her views. In between, chaos also ensued and AAP MLA Anil Jha was marshalled out. Speaking in the House, Atishi said traders are worried about GST. "The amendment to the bill is grantin

GST council should raise exemption threshold to Rs 1.5 cr, says GTRI

The Goods and Services Tax Council should consider raising the GST exemption threshold to Rs 1.5 crore annual turnover and also do away with the requirement of state-wise registration, which would help ease compliance, economic think tank GTRI said on Friday. The GST network has over 1.4 crore registered taxpayers, making it the largest global platform for indirect taxes. "The GST Council now needs to consolidate gains by making compliance easy," the Global Trade Research Initiative (GTRI) said, while recommending seven reforms for next phase of transformational growth. The think tank suggested increasing the GST exemption limit to Rs 1.5 crore, which it feels will be a game changer for India's MSME sector and set them on the path to job creation and growth. Currently, registration for GST is optional for firms with an annual turnover of less than Rs 40 lakh for goods and Rs 20 lakh for services. "Firms with less than Rs 1.5 crore annual turnover account for 84 per cent of total

GST Council has not sought states' views on hiking tax rates: Report

The Council had last year set up a panel of state ministers, headed by Karnataka Chief Minister Basavaraj Bommai, to suggest ways to augment revenue by rationalising tax rates

Odisha registers over 13% growth in SGST collection in July to Rs 794 crore

The negative growth rates of the SGST collection were recorded in April, May and June this year

State GST Act will continue in Jammu & Kashmir for the time being: Experts

Later, the UT GST Act has to be made for Ladakh and state GST Act for J&K

Economic slowdown hits states' GST revenues more than Centre, shows data

The picture becomes sharper if we look at how Central GST (CGST) and State GST (SGST) collections have grown or contracted in FY20

State GST Bill tabled in Tamil Nadu Assembly amid ruckus over cash-for-vote

Amidst high drama and ruckus over a television channel sting operation on AIADMK MLAs, the Tamil Nadu Assembly today tabled the Tamil Nadu Goods and Services Tax (GST) Bill, 2017, in tune with the national rollout of the new tax regime on July 1. The State, which has been objecting GST initially, said that it is ready for the roll out and 90 per cent of the of 601,000 dealers have migrated.On the first day of the 24-day Assembly session, the opposition party Dravida Munnetra Kazhagam (DMK) raised the issue of cash-for-vote by MLAs during the last confidence motion on the Edappadi K Palaniswami-led government, allegedly exposed in a sting operation by a television channel. A private news channel this week has aired a sting operation which showed that some of the legislators commenting on alleged cash offerings by one faction of the party to the MLAs before the crucial confidence voting in the Assembly on February 18, which led to V K Sasikala's trusted Palaniswami-led cabinet to take ..