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Latest Articles in gst council

About Rs 52,000 Cr GST Compensation Pending To States Till Sept: FinMin

This includes Rs 13,153 crore pending to Maharashtra, Rs 5,441 crore to Uttar Pradesh, Rs 4,943 crore to Tamil Nadu, Rs 4,647 crore to Delhi and Rs 3,528 crore to Karnataka.

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Grants, Non-philanthropic Donations To Attract 18% GST, Says AAR

It undertakes supply of services to 50 orphans and homeless children by way of shelter, education, guidance, clothing, food, and health for the women and child welfare.

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Reduction In GST, Subsidy On Conversion Kits To Push Auto LPG Growth

"Not only is auto LPG 40-50 per cent cheaper than the carbon-based petrol and diesel, but its emissions are also negligible as compared to the conventional fuels. So, adoption of auto LPG leads to purer air and cleaner environment, reduced public health burden and lower mobility cost," it said.

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Petroleum Products To Remain Outside GST Regime; Food Delivery Apps to Collect & Deposit GST

Petroleum products will continue to remain outside the ambit of GST regime as many states have opposed the idea of bringing them under the GST regime. Food Delivery App to collect and deposit the 5 per cent GST effective 01 January 2022 instead of the restaurant and several more decisions taken on Friday by the GST Council

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GST Council: Kerala To Oppose Move To Increase Tax On Coconut Oil

According to them, a hike in the tax on coconut oil will pave the way for the rise in prices of coconut oil, which is the major edible oil item in Kerala and parts of Tamil Nadu and Karnataka.

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GST Council May Discuss Proposal To Include Diesel, Petrol In One Regime

Presently, only 5 fuels come under the central excise, cess and state VAT which lead the Centre and the states governments to register huge revenues.

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GST Council Meet On September 17 To Review Rate On COVID Essentials, Compensation Mechanism

The meeting on September 17 could discuss compensation to states for loss of revenue, review of rates on COVID essentials, and inverted duty on certain goods.

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Enhanced GST Mop-up Of Recent Months Should Now Be 'New Normal': FM

For eight months in a row, Goods and Services Tax (GST) revenues have crossed Rs 1 lakh crore mark and touched a record Rs 1.41 lakh crore in April 2021.

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GST Reduced Tax Rate, Increased Compliance; More Than 66 Cr Returns Filed In 4 Years: Finmin

GST has significantly eased one of the most complex indirect tax systems and a company looking to do business in every state had to make as many as 495 different submissions.

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GST Rates Slashed For Furnaces, Ambulance, Covid-Essentials

Finance Minister today announced GST rate cuts in line with the GoM recommendations on a slew of Covid-essentials; vaccines would continue to attract 5 percent GST

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GST Revenues Up 65% In May At Rs 1.02 Lakh Crore

The May 2021 collection is 65 per cent higher than Rs 62,009 crore the Goods and Services Tax (GST) revenue of May 2020. Collections last year were impacted as economic activity took a hit due to the nationwide lockdown imposed to check the spread of COVID-19.

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Monthly GST Return Filing Deadline Extended Till June 26

The GST Council, chaired by the Union Finance Minister and comprising state counterparts, on May 28 had decided to extend certain compliance relaxations on account of COVID-19.

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Industry Hails Late-fee Relief For GST Non-filers, Demands Zero Tax Rate On Med Devices, Health Services

The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.

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Relief To Taxpayers Regarding Late Fee For Pending Returns; Late Fee Reduced For Future Tax Periods

Nearly after eight months, Finance Minister Nirmala Sitharaman held 43rd GST Council meeting. FM announced the Amnesty Scheme to provide relief to taxpayers regarding late fee for pending returns. She also added that the late fee also would be rationalized for future tax periods and the process of Annual Return for Financial Year 2020-21 will be further simplified.

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Karnataka Seeks Release Of Pending Compensation Of Rs 11,000 Crore From GST Council

Home Minister Basavaraj Bommai, who represents the state in the GST Council, which met today under the Chairmanship of Union Finance Minister Nirmala Sitharaman, requested it to extend the loan facility for compensation to the states to 2021-22 fiscal

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