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Attention! Aadhaar to be mandatory for these people from January; check details
Business | September 16, 2019 16:59 IST
Aadhaar user alert: The authentication or physical verification of the unique identification number (Aadhaar) has been made mandatory for new dealers to curb malpractices in paying Goods and Services Tax. According to reports, the GST Network on Saturday decided to make Aadhaar authentication or physical verification mandatory for new dealers from January 2020 to check malpractices in Goods and Services Tax.
GST: Aadhaar verification to be mandatory for new dealers from January 2020
Business | September 14, 2019 17:27 IST
The GSTN also decided the much simplified new return system may be launched on January 1, 2020, the Bihar Deputy chief minister said.
GST Council meets next Friday; tax rate cut to hinge on revenue position
Business | September 13, 2019 18:58 IST
The all-powerful GST Council will at its Goa meeting next week consider demands for reducing taxes on products ranging from cars to biscuits keeping in mind the revenue position as any cut will have a direct impact on earnings of states, a senior government official has said.
DRI-DGGI carry out biggest-ever joint operation against GST violators at 336 locations
Business | September 12, 2019 19:18 IST
This was the biggest-ever joint operation by the two premier intelligence agencies of the Central Board of Indirect Taxes and Customs (CBIC), officials said.
Firms with annual income upto Rs 2cr could get GST return relief
Business | September 12, 2019 14:08 IST
"It is ranging from 25-27 per cent despite extension of deadlines. The GST Council will discuss the issue in its meeting on September 20," said an official.
Ball in Finance Minister's court over GST rate cut for automobiles: Nitin Gadkari
India | September 11, 2019 19:56 IST
The Road Transport and Highways Minister also said a scrappage policy, which also includes two-wheelers, is in the works and will be launched soon.
Auto players should also take up GST rate cut demand with state FMs: MoS Finance Anurag Thakur
Business | September 06, 2019 14:17 IST
Amid clamour from the auto industry for a GST rate cut, Minister of State for Finance Anurag Thakur on Friday asked players in the sector to also take up the matter with state finance ministers who are part of the GST Council, and assured all support from the Centre.
GST refund: Tax body asks officers to speed up things
Business | September 02, 2019 16:39 IST
"We must endeavour to make this refund drive a grand success," CBIC Chairman Pranab K. Das wrote to tax officers across the country.
GST collections drop below Rs 1 lakh crore to Rs 98,202 crore in August
Business | September 01, 2019 17:39 IST
Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 lakh crore.
Surat diamond industry fears 2nd recession in a decade
Business | August 29, 2019 12:06 IST
With two children and his wife to support, the 35-year-old diamond artisan is clueless about his sustenance and has been on a job search for two months. He lost his job after serving for six years at a diamond factory, which now he doesn't want to name, saying it will bring bad luck.
Maharashtra: Businessman held for Rs 24.55 crore tax fraud
India | August 28, 2019 12:38 IST
He allegedly availed wrong Input Tax Credit of Rs 24.55 crore on the basis of bogus invoices for Rs 136.38 crore without the actual supply of goods, the official said.
More time to file GST returns, November 30 is the last date now
Business | August 26, 2019 21:44 IST
GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST). It consists of details regarding the outward and inward supplies made or received under different tax heads.
This decision by government may make petrol cheaper by Rs 25; know how
Business | July 29, 2019 16:18 IST
Discussion to bring petrol and diesel prices under GST in again on the peak. According to reports, trade association 'Associated Chambers of Commerce and Industry of India' or ASSOCHAM has demanded to include petroleum products and stamp duty in GST. If the government considers the recommendation of ASSOCHAM and petroleum products are included in the GST, then the price of petrol and diesel can witness a huge reduction.
GST Council cuts tax rate on electrical vehicles, chargers to 5 per cent
Business | July 27, 2019 13:42 IST
GST Council meet concluded on Saturday with a decision to reduce GST rates on electric vehicles and charges. The GST Council has decided to reduce GST rate on electrical vehicles from 12 per cent to 5 per cent. The council has also approved an exemption from GST on hiring of electric buses by the local authorities.
No GST invoice required if goods taken abroad for exhibition are brought back in 6 months
India | July 22, 2019 21:10 IST
The Finance Ministry on Monday said entities taking goods abroad for exhibitions or other export promotion events will not have to generate tax invoice for those goods which are brought back to India within six months.
GST Council to decide on tax cut on Electric Vehicles this week
India | July 21, 2019 17:06 IST
The 36th meeting of the Council, which will happen through video conferencing, is also likely to decide the valuation of goods and services in solar power generating systems and wind turbine projects for the purposes of levying GST.
Major consolidation in Indian realty market since 2011-12: Report
Business | July 08, 2019 8:42 IST
A recent report suggests that there has been significant consolidation in the country's nine major real estate markets in the past few years on the back of financial distress, demonetisation, GST and the implementation of RERA.
CM HD Kumaraswamy cries foul over budget cut in GST share
India | July 05, 2019 22:21 IST
Karnataka Chief Minister H.D. Kumaraswamy on Friday cried foul over the Union Budget's proposal to cut the state's share of Goods and Services Tax (GST) in fiscal 2019-20.
GST collections dip below Rs 1 lakh cr-mark in June
India | July 01, 2019 23:08 IST
While the GST collections in June were lower than Rs 1,00,289 crore in May, they were higher than Rs 95,610 crore receipts in the same month of the previous year.
GST return filing remains less than desired, GSTR-3B compliance around 60 percent
India | July 01, 2019 21:08 IST
Analysis of data released by Goods and Services Tax Network (GSTN) showed that while on an average, 50 percent of the registered taxpayers filed GSTR-3B within the due date in July 2017, the number increased to around 85 percent as on June 23, 2019.