Goods and Services Tax GST - Latest News, Analysis, Opinion

Latest Articles in Goods and Services Tax GST

Govt Extends FY'21 GST Annual Return Filing Deadline Till Feb 28

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.

Centre Extends FY21 GST Annual Return Filing Deadline Till Feb 28

BW Online Bureau

Companies & Markets

GSTR 9 is an annual return to be filed yearly by taxpayers registered under the Goods and Services Tax (GST).

GoM Meet On GST Rate Rationalisation, Scheduled For Tomorrow, Deferred

BW Online Bureau

Companies & Markets

With regard to inverted duty structure, the GST Council has already corrected the rate anomaly in the case of mobile handsets, footwear and textiles.

Grants, Non-Philanthropic Donations Received By Charitable Trusts To Attract 18% GST: AAR

BW Online Bureau

Companies & Markets

In the case of donations, the AAR said if the purpose of the donation is philanthropic and leads to no commercial gains and is not an advertisement, then it would not attract GST.

GST Collection Surges To Rs 1.3 Lakh Crore In October, Second Highest Figure For Any Month So Far

BW Online Bureau

Companies & Markets

The revenues would have still been higher if the sales of cars and other products had not been affected on account of disruption in the supply of semiconductors

Excise Collection 79% More Than Pre-Covid Levels, Says Delhi Govt

BW Online Bureau

Companies & Markets

Out of the Rs 2.3 lakh crore excise collection in 2018-19, Rs 35,874 crore was devolved to states

Will Soon Call First Meeting Of Gom Set Up To Review GST Rates: K''taka CM

BW Online Bureau

National

The Centre has sanctioned GST compensation of Rs 18,000 crore via loan, he said, adding a higher amount was sanctioned as the state GST collection has improved when compared to the last year.

Ice Cream Parlours To Attract 18% GST: CBIC

BW Online Bureau

Companies & Markets

With regard to ice cream parlours, the CBIC said such places sell already manufactured ice cream and do not have the character of a restaurant.

GST Collection Tops Rs 1 Lakh Crore For Third Straight Month; At Rs 1.17 Lakh Cr In September

BW Online Bureau

Companies & Markets

The revenues for the month of September 2021, are 23 per cent higher than the GST revenues in September 2020.

Petrol, Diesel Under GST? FM Nirmala Sitharaman Deliberates In Key Meet

BW Online Bureau

Companies & Markets

The council will on Friday also discuss the proposal of reducing GST from 12 per cent to 5 per cent to the seven more drugs till December 31, 2021.

Govt's Excise Collection Jumps 48% In April-July; Already 3x Of Full Fiscal Oil Bond Liability

BW Online Bureau

Energy & Infra

Bulk of excise duty collection is from the levy on petrol and diesel and with sales picking up with a rebounding economy, the incremental collections in the current year may be over Rs 1 lakh crore when compared with the previous year

No GST On Canteen Charges Recovered From Employees: AAR

BW Online Bureau

Companies & Markets

The company also sought a ruling on whether input tax credit (ITC) is available on GST charged by the service provider on the canteen facility provided to employees working in the factory.

GST Officers Detect Rs 4,000 Cr Of ITC Fraud In Apr-Jun

BW Online Bureau

Companies & Markets

In reply to a separate question, Chaudhary said the mechanism for claiming Goods and Services Tax (GST) refund by exporters is a streamlined process.

GST Systematically Flawed, There Is Lot Of Tax Leakage: Kerala FM

BW Online Bureau

Companies & Markets

The Goods and Services Tax (GST) regime came into force in July 2017. Even though the framework is focused on having a one-nation-one-tax model, quite a few items, including petroleum products and liquor are still out of the GST purview.