GST

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GST clocks second highest ever collection, touches Rs 1,30,127 crore in October

In October, gross GST collection was Rs 1,30,127 crore, with CGST at Rs 23,861 crore, SGST at Rs 30,421 crore, IGST at Rs 67,361 crore (including Rs 32,998 crore collected on goods imports), and cess at Rs 8,484 crore (including Rs 699 crore collected on import of goods).

Nov 1, 2021

Rickshaw puller in UP gets I-T notice for Rs 3 Cr

Pratap Singh also posted a video on social media claiming illiteracy hindered him from distinguishing between an original and a coloured copy PAN card.

Oct 25, 2021

GST Council Meeting: Majority opposed inclusion of petrol under GST, says FM [Full List of New Decisions]

GST Council members did not find the current stage as apt to bring petroleum products under the GST ambit, said Finance Minister

Sep 17, 2021

Treated sewage water is 'purified water', liable to 18% GST: AAR

In a unique interpretation of the laid down regulations, the Maharashtra bench of the Authority of Advance Ruling (AAR) has termed treated sewage water as purified form of water, the supply of which is liable to 18 per cent GST.

Jul 31, 2021

Income tax evasion is a criminal offence

Rs 35,000-crore tax fraud detected in FY 20-21 involving fake ITC; over 400 held [details]

Despite COVID restrictions, GST officers register 8,000 fraud cases, and 426 persons have been arrested.

Jul 13, 2021

GST council slashes rates on Covid items; Vaccine remains taxed at 5%

On Saturday, the GST Council resolved to reduce the rates of many Covid-relief items from 12 to 18 percent to 5%. The council agreed to follow the recommendations of the Group of Ministers, according to Finance Minister Nirmala Sitharaman

Jun 12, 2021

No stimulus but more Covid exemptions in GST announced by FM

According to the finance minister at the GST council, no final decision has been made on a fresh stimulus plan to boost the economy amid the pandemic.

May 29, 2021

GST Council extends compliance relief for taxpayers

The GST Council's 43rd meeting continued to provide relief to taxpayers, particularly small taxpayers, who have been disproportionately impacted by the Covid outbreak's second wave. For taxpayers with an annual income of up to Rs 2 crore, FY 2020-21 will be optional.

May 29, 2021

Lieutanant Governor of J&K Manoj Sinha releasing 'annual report promoting good governance' on Wednesday

Notwithstanding COVID restrictions, J&K collects record ₹4,890 crore in GST during FY 2020-21 [details]

Despite three-month lockdown, excise revenue also registers a 5.36 % hike.

May 19, 2021

Tax, Budget 2017, Union Budget 2017, Income Tax, senior citizens, common man

Filing taxes: GST brings in important change, gives operational flexibility [details]

Tax filers will now be permitted to declare invoices pertaining to the movement of goods and services in their quarterly return form GSTR 1 to be filed in the last month of each quarter.

Apr 4, 2021

'Don't levy GST on auto, realty, hospitality for 6 months': PwC report

As the pandemic has severely hit businesses and more so in the case of automobiles, hospitality and real estate sectors, a PwC report has suggested the suspension of Goods and Services Tax (GST) on these sectors for a minimum of six months.

Oct 11, 2020

Toyota's latest decision shows what's wrong with India's auto sector

Toyota India's Vice Chairman, Shekar Viswanathan, argued that the government keeps taxes on cars and motorbikes so high that companies find it hard to build scale.

Sep 15, 2020

Centre to sell up to 25% stake in LIC, special discount for retail investors on offer

Notably, the earlier reports have claimed that the center is willing to dilute about 10% stake in LIC but the financial restrain which arose due to Coronavirus pandemic has prompted the government to think for a higher stake sale.

Sep 7, 2020

Finance Ministry lauds GST era: Marked reductions in tax rates; tax payer base doubles to 1.24 crore

The Finance Ministry remembers Arun Jaitley on his death anniversary, says in the GST era, marked reductions in tax rates have been observed. The Ministry has also pointed at an increase in the taxpayer base to 1.24 crores.

Aug 24, 2020

More healthcare services may come under GST net to boost tax collections

The Finance Ministry, which had deliberations with the state governments on measures to boost GST revenue, is likely to recommend bringing premium healthcare services under the GST.

Dec 15, 2019

Finance Minister Nirmala Sitharaman invites suggestions on 'GST Feedback Diwas'

As per the arrangement, people with suggestions can approach GST offices across the country and give their suggestions.

Dec 7, 2019

GST collection highest in November; crosses Rs 1 lakh crore mark

The GST collection on domestic transactions witnessed a growth of 12 percent in November, highest during the year.

Dec 1, 2019

Registration of GST non-filers to be cancelled

The Mumbai office of the Principal Chief Commissioner of GST and Central Excise has issued directives to field officers for ensuring strict compliance.

Nov 17, 2019

Economy in shambles because of govt's 'all-round mismanagement': Manmohan Singh

Dr Manmohan Singh urged the government to put aside vendetta politics and consult with "all sane voices and thinking minds" to save the economy.

Sep 1, 2019

India's largest cookie-maker Parle may cut up to 10,000 jobs amid economic slowdown

A sharp drop in Parle's biscuit sales means the company may have to slash production, which may result in layoffs of 8,000-10,000 people.

Aug 21, 2019

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