Gst
-
Slash GST on Auto LPG, address policy issues stalling growth: Industry body to FM
Business | Jan 26, 2020, 12:16 PM ISTLPG used as fuel in automobiles or Auto LPG, which is among the cleanest alternative fuels with a Global Warming Potential of 'zero' is currently taxed at 18 per cent GST.
-
Tax Department raises GST revenue target to Rs 1.15 lakh cr for Jan-Feb
Business | Jan 17, 2020, 10:14 PM ISTLast month, the department had raised its GST tax collection target to Rs 1.1 lakh crore per month with Rs 1.25 lakh crore for a single month for the remaining period of this financial year while the direct tax target was to remain at Rs 13.35 lakh crore sans the corporate tax relief of Rs 1.45 lakh crore.
-
Do away with GST on services by microfinance companies: Industry's Budget wish-list
Business | Jan 09, 2020, 09:54 PM ISTMicrofinance industry body Sa-Dhan in its wish-list for Budget 2020-21 has urged the government to do away with levy of goods and services tax (GST) on the services provided by the sector.
-
GST revenue mop-up rises to Rs 1.03 lakh crore in December
Business | Jan 01, 2020, 04:51 PM ISTThe GST collection in November 2019 stood at Rs 1,03,492 crore. Of the gross Rs 1,03,184 crore last month, CGST is Rs 19,962 crore, SGST is Rs 26,792 crore, IGST is Rs 48,099 crore (including Rs 21,295 crore collected on imports) and Cess is Rs 8,331 crore (including Rs 847 crore collected on imports), an official statement said.
-
Not filing GST returns on time may result in frozen bank accounts. Check details
Business | Dec 27, 2019, 07:15 PM ISTGST Return filing: Now, if you don't file the returns in time and ignore the reminders sent to you by the Income Tax Department, it may go ahead and freeze your assets such as your bank account and even your property.
-
GST officials unearth Rs 241-crore tax evasion racket
Business | Dec 26, 2019, 07:59 PM ISTGST officials have unearthed a racket involving fake invoicing worth Rs 1,600 crore that resulted in tax evasion of Rs 241 crore, an official release said in a statement on Thursday. The racket was busted by the anti-evasion wing of CGST Delhi South Commissionerate.
-
2 GST slabs? Niti Aayog member has a suggestion
Business | Dec 25, 2019, 04:20 PM ISTGovernment think-tank Niti Aayog member Ramesh Chand on Wednesday made a case for only two slabs under the goods and service tax regime as against the multiple slabs currently, and said rates should be revised annually if required.
-
Centre releases Rs 35,000 crore GST compensation to states
India | Dec 16, 2019, 06:28 PM ISTAhead of the crucial GST Council meeting, the Centre on Monday released about Rs 35,000 crore to states and Union Territories as pending compensation. The GST Council, the highest decision making body of the indirect tax regime, is slated to hold its meeting on December 18.
-
Buzz of increasing GST rates everywhere except my office, says Nirmala Sitharaman
India | Dec 13, 2019, 05:19 PM ISTAhead of the crucial meeting of the GST Council, Finance Minister Nirmala Sitharaman on Friday said the buzz of an increase in GST rates is everywhere other than her office.
-
GST compensation due for all states, not just for some: Sitharaman
Business | Dec 13, 2019, 12:00 AM ISTSpeaking in the Rajya Sabha, Finance Minister Nirmala Sitharaman admitted the delay but said that the Centre had released more than what it collected as cess in the current financial year 2019-20 till October-end.
-
With coffers empty, CM Thackeray seeks GST dues from Centre
National | Dec 11, 2019, 05:34 PM ISTThis, coupled with the ongoing economic slowdown, has posed serious problems for the state's finances owing to which its development programmes are suffering, the CM informed Sitharaman.
-
GST revenue collection up 6% in November; crosses ₹ 1 lakh crore
Business | Dec 01, 2019, 03:12 PM ISTGST revenue collection crossed the Rs 1 lakh crore mark after a gap of three months in November with the revenue growing by 6 per cent to Rs 1.03 lakh crore in the month. The GST collection was Rs 95,380 crore in October while it was Rs 97,637 crore November 2018.
-
No recession in Indian economy: Nirmala Sitharaman
India | Nov 27, 2019, 09:49 PM IST"Every step being taken is in the interest of the country... looking at the economy with discerning view, you see that the growth may have come down, but its not a recession yet or it won't be recession ever," finance minister Nirmala Sitharaman said.
-
Government raises concern over fake invoicing in B2B trade impacting GST collections
Business | Nov 22, 2019, 07:39 PM ISTThe government on Friday raised concerns over fake invoices being generated in the business-to-business (B2B) segment which is impacting GST collections.
-
Return filing system is working fine: GSTN
Business | Nov 20, 2019, 08:51 PM ISTGSTN said that the GST return filing system is working within expected limits. "Had it not been so, how more than 11.52 lakh GSTR3B (October) returns could have been filed yesterday with about 1.82 lakh returns filed in a peak hour," it said
-
Maharashtra businessman commits suicide after failing to pay GST
India | Nov 20, 2019, 05:02 PM ISTAn entrepreneur, owning a small metal polishing unit in Waluj Industrial area, committed suicide, after failing to pay Goods and Services Tax (GST), police said on Wednesday. Vishnu Rambhau Kalavane (53) hanged himself from the ceiling with a saree at his home in Pandharpur area on Tuesday, an official said. An entrepreneur, owning a small metal polishing unit in Waluj Industrial area, committed suicide, after failing to pay Goods and Services Tax (GST), police said on Wednesday. Vishnu Rambhau Kalavane (53) hanged himself from the ceiling with a saree at his home in Pandharpur area on Tuesday, an official said.
-
Delhi GST unit unearths racket that issued fake invoices for tax benefits
Crime | Nov 15, 2019, 05:50 PM ISTThe revenue department on Friday said it has unearthed a racket involving issuances of fake invoices for availing tax benefits worth Rs 22 crore under GST and arrested two persons in this regard.
-
Reports of GST on salaries false, Finance Ministry clarifies
Business | Nov 15, 2019, 05:37 PM ISTThere are no plans to impose Goods and Services Tax (GST) on salaries paid to CEOs or employees, the Central Board of Indirect Taxes & Customs (CBIC) clarified on Friday. The CBIC clarification comes after reports in certain sections of media that the government was mulling to bring salaries paid to CEOs and high-paid employees will be brought under GST. The CBIC has categorically denied such reports as "false."
-
States beat Centre in ensuring GST returns compliance
Business | Oct 22, 2019, 06:51 PM ISTA Finance Ministry review of compliance behaviour of GST assessees has shown states outperforming the Centre.
-
GST Network to release new version of return filing interface
Business | Oct 12, 2019, 11:59 PM ISTGST Network (GSTN) will release improved version of GST return filing interface on October 22 with an aim to further simplify the process. "Many of the suggestions were incorporated in version 2 which is in place right now. Version 3 is going to come on October 22 of this month," GST Network CEO Prakash Kumar said at a seminar organised by IIT Delhi Alumni Association here.