Petroleum Minister Hardeep Singh Puri said that petrol prices in the country are not coming down as the states do not want to bring fuel under the ambit of the GST.
Life saving drugs got cheaper as Union Finance Minister Nirmala Sitharaman's announced a slew of GST exemptions on Friday. The decision came after a crucial meeting of the GST Council.
The GST Council meeting is currently underway in Lucknow. It is being presided over by Finance Minister Nirmala Sitharaman.
The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on Friday, which among other things may review tax rate of over four-dozen items.
Nirmala Sitharaman will preside over the 45th meeting of the Goods and Services Tax (GST) Council in Lucknow on Friday.
The GST Council might on Friday consider taxing petrol, diesel and other petroleum products under the single national GST regime, a move that may require huge compromises by both central and state governments on the revenues they collect from taxing these products.
Signalling accelerating economic activity, GST collection topped the Rs 1-lakh-crore mark for the second straight month in August at Rs 1.12 lakh crore.
Goods and Services Tax (GST) collection in August at over Rs 1.12 lakh crore: Finance Ministry.
Tata Motors had approached the Gujarat bench of Authority for Advance Ruling (AAR) seeking a ruling on whether Goods and Services Tax (GST) is applicable on the nominal amount recovered by it from employees for the usage of canteen facility.
Passing the ruling, the AAR said the supply of vouchers are taxable as goods and will attract an 18 per cent goods and services tax.
Out of the total revenue collected CGST was Rs 22,197 cr, SGST was Rs 28,541 cr, IGST was Rs 57,864 cr- including Rs 27,900 cr collected on import of goods- and Cess was Rs 7,790 cr- including Rs 815 cr collected on import of goods.
E-invoice is an electronic authentication technique under the GST framework.
The members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) appealed to Nirmala Sitharaman to bring petrol and diesel under the GST regime.
Sitharaman, who is on a 2-day visit to Karnataka, said that she had already assured all the stakeholders about convening a special session in which every issue related to GST compensation would be discussed in detail.
Expressing satisfaction on overcoming most of the GST implementation challenges, including two waves of the COVID-19 pandemic, Sitharaman also thanked taxpayers for their support in making the GST a reality.
The Finance Ministry has notified the concessional rate of GST that will be applicable on COVID relief materials till September 30, 2021.
The Delhi government on Saturday suggested to the Centre to remove the GST on face masks, sanitisers, oximeters and thermometers, saying these items have become a part of regular expenditure of the people during COVID-19 pandemic.
The GST Council on Saturday slashed the tax rate on coronavirus medicines such as Remdesivir and equipment like oxygen concentrators and medical grade oxygen.
The 44th meeting of the GST Council, the second this year in the midst of the second wave of Covid pandemic, began on Saturday morning through video conferencing.
Maharashtra Chief Minister Uddhav Thackeray met Prime minister Narendra Modi on Tuesday over the Maratha reservation issue and financial aid for cyclone relief measures.
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