Gst
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GST taxpayers to get flexibility to decide on monthly tax payment
Business | Dec 13, 2020, 04:11 PM ISTCome January 1 and GST taxpayers would be able to pay their tax dues on a self assessment basis without having to go through the cumbersome process of filing tax returns on a monthly basis.
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'Not against Constitution': SC upholds GST on lottery, betting, gambling
India | Dec 03, 2020, 10:38 PM ISTThe Supreme Court on Thursday upheld the levy of Goods and Services Tax (GST) on lotteries, betting and gambling, ruling that this doesn't violate any constitutional provision.
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Online GST registration: GST Council's law panel suggests live photo, biometrics
Business | Nov 22, 2020, 09:39 PM ISTCentral and state tax officials have suggested the option of online GST registration with live photo and use of biometrics to weed out the menace of fake firms claiming input tax credit, sources said.
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GST fake invoices scam: 25 persons arrested in tax credit racket, new registration process tightened
India | Nov 15, 2020, 06:10 PM ISTGST investigation arm DGGI has arrested 25 persons over the last week for issuing fake invoices for goods like waste and scrap of non-ferrous metals, readymade garments, gold, silver and construction services.
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GST collections cross Rs 1 lakh crore in Oct for first time in 8 months
Business | Nov 01, 2020, 01:31 PM ISTThis is the first time in the current financial year that the gross GST collections has crossed the Rs 1-lakh-crore-mark.
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Delhi man held on charge of forging Rs 392-cr input tax credit
India | Oct 30, 2020, 01:41 PM ISTA Delhi resident was arrested by a team of Directorate General of GST Intelligence's (DGGI) Gurugram Zonal Unit on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit totalling over Rs 392 crore through issuance of invoices without actual receipts/supply of goods or services.
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GST Return FY19: CBIC extends deadline for filing GSTR-9, GSTR-9C filing till Dec 31
Business | Oct 24, 2020, 04:34 PM ISTGSTR Filing FY19: The Central Board of Indirect Taxes & Customs (CBIC) has extended the deadline for filing GST annual returns (GSTR-9) and Reconciliation Statement (GSTR-9C) for FY 2018-19 by two months till December 31, 2020.
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Centre should take initiative in settling GST borrowing quantum issue: Kerala FM Thomas Isaac
Business | Oct 19, 2020, 01:00 PM IST“Having come half way through for amicable settlement on issue of who should borrow, centre now should take initiative to settle remaining issue: How much to borrow?” Isaac tweeted.
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Centre permits 20 states to raise Rs 68,825 crore via borrowing to meet GST shortfall
Business | Oct 13, 2020, 08:01 PM ISTThe Centre on Tuesday permitted 20 states to raise Rs 68,825 crore through open market borrowings to bridge the GST revenue shortfall.
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Why is your CM mortgaging your future for Modi: Rahul Gandhi to people on GST compensation
India | Oct 12, 2020, 11:49 AM ISTIn August, the Centre gave two options to the states to borrow either Rs 97,000 crore from a special window facilitated by the Reserve Bank of India or Rs 2.35 lakh crore from the market. It had also proposed extending the compensation cess levied on luxury, demerit and sin goods beyond 2022 to repay the borrowing.
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Karnataka appellate authority rules 18% GST on whole wheat 'parota' is void
Business | Oct 05, 2020, 02:50 PM ISTThe authority was approached by ID Fresh Food (India) Pvt. Ltd, a food products company involved in the preparation and supply of a wide range of ready to cook, fresh foods including idli and dosa batter, parotas, chapattis.
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GST collections at Rs 95,480 crore in September
Business | Oct 01, 2020, 04:08 PM ISTThe Goods and Services Tax (GST) collections in September stood at Rs 95,480 crore, the highest level so far this fiscal, the Finance Ministry said on Thursday.
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GST policy: GST e-invoicing mandatory for B2B transactions from October
Business | Sep 26, 2020, 12:20 PM ISTNo further relaxation is likely in terms of e-invoicing as the Centre is set to go ahead with the decision to make GST e-invoicing mandatory for companies with an annual turnover of over Rs 500 crore for their business-to-business transactions starting October 1.
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Two-year extension of GST compensation cess levy likely to cover shortfall in tax collection
Business | Sep 23, 2020, 04:06 PM ISTThe GST Council is likely to approve a two-year extension of the compensation cess levy on goods and services to allow the Centre to pay the entire shortfall in GST tax collection by states expected till June 2022.
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Pre-filled GST return form soon: GSTN CEO Prakash Kumar
Business | Sep 21, 2020, 02:44 PM ISTGSTN, which handles the IT backbone for Goods and Services Tax (GST) has already started providing tax liability data based on sales return GSTR-1 of the taxpayer to be used in his tax payment form GSTR-3B in pdf form.
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GST compensation row: 13 states submit borrowing option to Centre to fund shortfall
Business | Sep 13, 2020, 09:58 PM ISTAs many as 13 states ruled by the BJP and parties that have supported it on various issues have submitted their borrowing options to the Centre to meet the GST revenue shortfall. These 13 states include Bihar, Odisha, Andhra Pradesh, Gujarat, Uttarakhand, Meghalaya, Goa, Assam, Arunachal Pradesh, Nagaland, Mizoram and Himachal Pradesh.
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Not paying GST compensation may lead to Rs 3 lakh crore cut in capex by states in FY21: Report
Business | Sep 09, 2020, 10:11 PM ISTNot paying the full GST compensations by the Centre is among the factors which may result in up to Rs 3 lakh crore cut in capital expenditure by the states in FY21, a report said on Wednesday.
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Entire shortfall of compensation to states will be compensated: Sources
Business | Sep 08, 2020, 12:05 AM ISTDays after government announced 2 options for States on the issue of meeting GST compensation, Finance Ministry sources on Monday said the entire shortfall of compensation to the states irrespective of whether it is on account of GST implementation or coronavirus pandemic will be compensated.
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GST second major attack on India's unorganised economy: Rahul Gandhi
India | Sep 06, 2020, 12:32 PM ISTCongress leader Rahul Gandhi on Sunday said the NDA's Goods and Services Tax (GST) is not a tax system but an "attack" on India's poor and on its small and medium businesses and urged all to stand against it.
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GST collection at Rs 86,449 crore in August
Business | Sep 01, 2020, 06:45 PM ISTThe gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.