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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

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

BW Online Bureau

Economy

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

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

BW Online Bureau

Economy

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

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

BW Online Bureau

Economy

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

Centre All Set To Notify Rules For Setting GST Tribunal

BW Online Bureau

Economy

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

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

BW Online Bureau

Economy

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

GST Dept Seeks Access To Banking Transactions To Detect Fake Invoices

BW Online Bureau

Economy

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

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

BW Online Bureau

Economy

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

GST Council May Do Away With 5% Slab

BW Online Bureau

Economy

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

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

BW Online Bureau

Economy

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.

Industry Calls For Bringing Natural Gas Under GST

BW Online Bureau

Energy & Infra

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

Gadkari Calls For Ratings System For MSMEs

BW Online Bureau

Companies & Markets Sector Reports

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.