Gst
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BJP govt attacked unorganized economy with demonetisation, GST, lockdown, says Rahul Gandhi
India | Aug 31, 2020, 11:44 AM ISTCongress leader Rahul Gandhi on Monday launched a scathing attack on the Prime Minister Narendra Modi-led BJP government and said the central government has attacked the country's unorganized economy in the last six years attempting to turn people into slaves.
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Finances of states are down, Centre has not paid GST compensation yet: CM Amarinder Singh
Politics | Aug 26, 2020, 06:39 PM ISTPunjab Chief Minister Captain Amarinder Singh on August 26 said that the Central Government has not paid GST compensation and the finances of the states are completely down.
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'Nothing short of betrayal on part of Modi govt': Sonia Gandhi on Centre not clearing GST dues
India | Aug 26, 2020, 04:27 PM ISTCongress interim President Sonia Gandhi on Wednesday said that Centre's refusal to clear Goods and Services Tax (GST) compensation to States is nothing short of betrayal on the part of the Prime Minister Narendra Modi government.
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Businesses with annual turnover of up to Rs 40 lakh are now exempted from GST: Finance Ministry
Income Tax | Aug 25, 2020, 03:44 PM ISTThe Ministry of Finance on Monday said that businesses with an annual turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent tax.
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GST reduced tax rates, doubled taxpayer base to 1.24 crore
Business | Aug 24, 2020, 12:57 PM ISTIn a series of tweets, on the first death anniversary of former Finance Minister Arun Jaitley, the ministry said before goods and services tax (GST), the combination of value-added tax (VAT), excise, sales tax and their cascading effect resulted in high standard rate of tax up to 31 per cent.
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GST Council to meet on August 27 to discuss compensation payout to states
Business | Aug 19, 2020, 06:35 PM ISTSources said the 41st meeting of the Goods and Services Tax (GST) Council would be a single agenda meeting on states' compensation to be held via video conferencing.
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DGCI detects evasion of GST by 2 liquor manufacturers in Maharashtra
India | Aug 01, 2020, 02:42 PM ISTThe Directorate General of Goods and Services Tax Intelligence (DGGI) has found alleged evasion of GST collectively worth over Rs 108 crore by two liquor manufacturers in Aurangabad and Nanded districts of Maharashtra
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GST investigation arm unearths Rs 40 crore tax evasion by pan masala/gutkha manufacturing unit
Business | Jul 01, 2020, 03:47 PM ISTThe GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital. The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital.
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18% GST ruling on 'Parotas' cooks up storm on social media
Business | Jun 13, 2020, 09:24 AM ISTWhat is the difference between a roti and a Paratha? Apart from the taste, it is 18 per cent GST that can be imposed on Parotas (or Parathas) because these need to be heated before consumption.
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GST Council may discuss levying cess on pan masala, bricks at manufacturing stage in next meeting
Business | Jun 12, 2020, 09:47 PM ISTThe GST Council may consider at the next meet levying cess on commodities like pan masala and bricks at the manufacturing stage itself, a move aimed at checking tax evasion and shoring up revenues.
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GST Council meeting: Reduction in late fee for GST return filing; relief for small taxpayers
Business | Jun 12, 2020, 04:22 PM ISTAs a measure to clean up pendency in return filing, the GST Council has reduced/waived late fee for non-furnishing FORM GSTR-3B for the tax period from July, 2017 to January, 2020.
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GST paid on bad debtors must be reversed: DACAAI
Business | Jun 10, 2020, 09:33 AM ISTGST paid on invoices which have become bad debts must be paid back, Domestic Air Cargo Agents Association of India (DACAAI) said on Tuesday.At present, under the GST law agents have to up front pay 18 per cent GST on the invoices.
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GST reduction, scrappage policy to help revive commercial vehicle industry: Ashok Leyland
Business | Jun 07, 2020, 02:06 PM ISTReduction in GST rate and introduction of scrappage policy would help in reviving the commercial vehicle sector which has been facing headwinds for quite some time now
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GST Council to meet on June 12
Business | Jun 05, 2020, 06:46 PM ISTThe GST Council is scheduled to meet on June 12 and likely to discuss the impact of the COVID-19 pandemic on tax revenues, sources said. The 40th meeting of the GST Council, headed by Finance Minister Nirmala Sitharaman and comprising state counterparts, will be held via video conferencing.
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Centre releases Rs 36,400 crore GST compensation to states for 3 months till February
India | Jun 04, 2020, 09:27 PM ISTThe Centre had released Rs 69,275 crore in 2018-19 and Rs 41,146 crore in 2017-18 as compensation for GST which was rolled out on July 1, 2017.
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GST Council to discuss waiver of late fee for August 2017 to January 2020
Business | Jun 01, 2020, 09:08 PM ISTThe GST Council in its next meeting will discuss waiver of late fee for non-filing of GST returns for August 2017 to January 2020 period. In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said, "Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting."
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CBDT again defers GST, GAAR reporting in I-T audit report till March 2021
Business | Apr 27, 2020, 09:21 PM ISTThe Income Tax Department on Monday deferred for the third time the requirement for companies to include in their I-T audit report the details of the Goods and Services Tax (GST) and GAAR.
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Yechury asks Centre to release GST dues to states
India | Apr 13, 2020, 03:53 PM ISTCPI(M) General Secretary Sitaram Yechury, in New Delhi on Monday, criticised the Centre for not releasing over Rs 30,000 crore in the goods and services tax (GST) dues.
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Centre releases Rs 1,237 crore GST compensation arrears to Punjab
Business | Apr 12, 2020, 03:08 PM ISTThe Centre has released Rs 1,237 crore to Punjab as GST compensation arrears for July 2017-March 2019. Punjab Finance Minister Manpreet Singh Badal in a letter to Finance Minister Nirmala Sitharaman said the funds came at a "crucial time" when the entire country is facing the Covid-19 crisis.
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Good news for taxpayers: All pending Income Tax refunds up to Rs 5 Lakh to be released immediately
Business | Apr 08, 2020, 07:00 PM ISTBesides, all pending GST and custom refunds will also be released benefiting close to 1 lakh businesses, the note stated. The total refund amount will be to the tune of Rs 18,000 crore, finance ministry said.