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Latest Articles in goods and services tax

GST Panel Rejects Proposal For Reducing Tax On Tobacco Products

According to reports, the industry has requested a consistent additional compensation cess on cigarettes, bidis, smokeless tobacco products, and/or lower compensation cess on cigarette sticks up to 70 mm

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“Mera Bill Mera Adhikar” Scheme Kick Starts In 6 States To Encourage Consumers To Take Bills

As a pilot project, the programme was introduced in Haryana, Assam, Gujarat, and the three Union Territories of Puducherry, Dadra and Nagar Haveli, and Daman and Diu

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Centre's GST Collections Up 11% YoY To Rs 1,65,105 Cr In July 2023

The total revenue of the centre and the states in July 2023 after the regular settlement is Rs 69,558 crore for CGST and Rs 70,811 crore for SGST

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GST Dept Tells Kerala HC That IMA Owes Rs 50 Cr As Tax

IMA is not free from GST obligations for its operations, according to the GST department, only because it is registered under the Charitable Trusts Act

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Centre All Set To Notify Rules For Setting GST Tribunal

The GST authorities are also trying to increase the taxpayer base and engage in greater data triangulation with the corporate taxpayers database in the income tax system

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About 72% Indians Witnessed Positive Experience With GST Law: Survey

About 91 per cent of respondents agreed that area-based exemptions can effectively address regional imbalances by attracting businesses to economically disadvantaged areas

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GST Dept Seeks Access To Banking Transactions To Detect Fake Invoices

The action was taken in response to recent investigations that showed fraudulent invoices were being used to accumulate unauthorised tax credits for hawala operations

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GST Collection At Rs 1,40,885 Cr In May, Registers 44% YoY Hike

The ministry said that the revenues for May 2022 are 44 per cent higher than the GST revenues in the same month last year of Rs 97,821 crore

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GST Council May Do Away With 5% Slab

Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract 3 per cent tax

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Centre Registers Record GST Collection Of Rs.1,40,986 Cr In Jan

The minister also stated that since the centre has been making concerted efforts to raise tax revenue collections, it is expected that the GST collection may remain buoyant in the coming months as well.

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Industry Calls For Bringing Natural Gas Under GST

In its pre-Budget memorandum to the finance ministry, Federation of Indian Petroleum Industry (FIPI), which boasts of members from across the oil and gas spectrum, also demanded rationalization of GST on transportation of natural gas through pipeline as well as on re-gasification of imported LNG to help bring down cost of the environment friendly fuel

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Gadkari Calls For Ratings System For MSMEs

MSMEs contribute nearly 30 per cent to country's GDP and provide employment to more than 11 crore people -- second highest after the agriculture sector.

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14th Installment of Rs 6,000 crore released to States to meet GST shortfall

14th Installment of Rs 6,000 crore released to States to meet GST shortfall

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Mandatory payment of 1 pc of GST liability in cash rule will affect less than half assessees, says govt

Mandatory payment of 1 pc of GST liability in cash rule will affect less than half assessees, says govt

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Sixth installment of Rs 6,000 cr released to states/UTs as loan to meet GST compensation shortfall

Sixth installment of Rs 6,000 cr released to states/UTs as loan to meet GST compensation shortfall

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