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Latest Articles in goods and service tax

CM Adityanath: No New Tax Or VAT Increase Will Be Applicable In UP

Yogi Adityanath, Chief Minister of Uttar Pradesh, explained on Friday that in order to safeguard the greater public interest, the government does not plan to raise the Value Added Tax (VAT) or impose any new taxes

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Direct Tax Collection Rises 41% In Q1 FY23

Net direct tax collection in the April-June quarter of the current fiscal rose by 41 per cent to Rs 3,54,569.74 crore, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha

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GST On Essential Items After States Sought Levy, Aimed To Check Evasion, Says Official

GST on pre-packaged goods/ food packets was levied after some states gave feedback of losing revenues they previously earned from levy of VAT on food items, a top government official said

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GST E-Invoicing Created Much-Needed Transparency To Curb Tax Evasion: Mohan Ramaswamy

Centre is now planning to make GST e-invoicing compulsory for businesses with a turnover of Rs 5 crore and above

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'Casinos Over Common People': Congress Slams Government On GST Changes

Party leader Rahul Gandhi hit out at the government over GST rates, and said a single, low tax rate would help reduce the burden on the poor and the middle class

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GST Rate For COVID-19 Medicines Pegged At 5%: Govt

Union Minister of State for Finance Pankaj Chaudhary said in the Lok Sabha that 66 per cent of government-sponsored health insurance schemes in the country are being run by the central government

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GST Collection In March At All-time High Of Over Rs 1.42 Lakh Cr

The collections for the month of March surpassed the earlier record of Rs 1,40,986 crore collected in the month of January 2022

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Budget Mantra: Spend, Spend, Spend

The big-bang spending outlined in the Budget jells with the industry expectations. But the implementation of all the schemes and projects is going to pose a big challenge

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Revisions To GST Rates: A List Of All Items In 18% Slab

A number of goods and commodities saw their GST rates revised during the 45th GST Council Meeting on Friday in Lucknow. It's also worth noting that the GST Council, In relation to GST law and processes, Nirmala Sitharaman agreed to extend the present concessionary GST rates on the supply of goods and services.

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Officials To Meet On Jan 7 For Streamlining GST Refunds, Curbing Evasion

Officials will debate on ways to curb fraud and evasion, check fake or huge input tax credit claims and seek bank account details of businesses to tally with their filings, sources said on Thursday.

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GST Exemption Limit Doubled To Give Relief To Small Businesses

The GST Council doubled the GST exemption limit to Rs 20 lakh for northeastern states and Rs 40 lakh for the rest of the country, Finance Minister Arun Jaitley told reporters

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Jaitley Says GST Had Only Transient Impact On Growth

In remarks apparently aimed at former Reserve Bank governor Raghuram Rajan, who Friday blamed the GST roll-out along with demonetisation for lower GDP growth, Jaitley said the economy recovered fast from the limited "disruptionist impact" of the tax reform

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Making India the Top Destination for Ease of Doing Business

As per the World Bank ‘Ease of Doing Business 2018 Rankings’, India has jumped 30 points and has successfully reached the top 100 club. This is proof that the reform agenda constituted by the Government and the subsequent policy initiatives have borne fruit. Now, India aims to be in the top 50.

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No GST Refunds For Foreigners As Of Now: Finance Ministry

"According to the section, integrated tax paid by a tourist leaving India on any supply of goods taken out of India by him shall be "refunded in such manner and subject to such conditions and safeguards as may be prescribed," said a Senior GST Professional

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How Is GST Making Direct Taxation More Effective?

The most important step towards making GST operational was to make technology adoption a reality. Yes, there were teething troubles, as happens with any new reform. Once GST taxpayers started gaining an understanding of how the new systems worked, the operations became much smoother

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