Goods And Service Tax (gst)

To strengthen its CASA base, the bank has launched six new products and opened 1.77 lakh new accounts in the last quarter. It is also aggressively targeting salary accounts, where the average balance has improved from Rs 25,000 in Q1 to Rs 44,000 in Q2, Kumar said.

GST cuts to boost demand but won’t trigger credit growth as banks remain cautious over tariffs

Despite the GST relief and the upcoming festive season, lenders are exercising caution, with analysts expecting credit growth to remain largely unchanged amid trade-related uncertainties.

GST 2.0 — A step closer to one nation, one tax?

Prime Minister Modi promises a big-bang overhaul of the indirect tax system with reduced slabs this Diwali

Three GoMs to meet on August 20-21 to review Center’s GST recast plan

The recommendations of the three GoMs will subsequently be taken to the GST Council, and officials are hopeful the Council will give its approval by Diwali.

Is there an import itch in robust GST numbers?

A granular study of the monthly indirect tax collections reveals trends that merit the attention of the authorities concerned

Rule incentive for GST to perform better

The notification of GST tribunal rules sets the stage for a better adjudication procedure to address tax litigation

GST’s revenue neutral rate needs to go higher

Over the years, multiple slabs and rate cuts in the name of rationalisation have made the tax structure complicated and hampered collections. It’s time for a change

GoM proposes GST cuts on health insurance, essentials: Here's what will likely get cheaper

The final decision on these proposals will be made by the GST Council, chaired by FM Sitharaman, during its upcoming meeting in November.

GoM likely to delay slab changes, focus on sector-specific adjustments: Report

The GoM’s likely decision to leave the slabs unchanged is expected to be conveyed to the GST Council at its meeting on September 9

Key GST reforms remain in a wait mode

The 53rd meeting of the GST Council gives the big picture a miss and focuses on procedural and compliance issues

Highlights from 53rd GST Council Meeting: What you should know

The 53rd GST Council Meeting has finalised key decisions, including imposing a uniform GST rate of 12% on milk cans manufactured from steel, iron, and aluminium.

Tax outflows push banking system liquidity deficit to highest in over 7.5 years

According to RBI data, liquidity in the banking system was in a deficit of around Rs 2.67 lakh crore as of December 25, compared to a deficit before tax outflows of Rs 44,284.92 crore on December 14

Govt enables sharing of data between GSTN and Enforcement Directorate

The notification is regarding sharing of information between ED and GSTN under section 66(1)(iii) of PMLA.

Sushil Kumar Modi on GST after 6 years: The way ahead on rates, slabs, evasion

Modi, who was instrumental in bringing in the new indirect tax regime, talks about the achievements so far and the challenges ahead.

Businesses can apply for revocation of GST registration cancellation by June 30 after paying taxes, penalty

The finance ministry has made amendments in the Central GST act specifying that businesses whose registration has been cancelled on or before December 31, 2022, and who have failed to apply for revocation of cancellation within the specified period can do so by June 30, 2023.

GST collection rises 13% to Rs 1.60 lakh crore on import revenues, local transactions

This is the second highest monthly mop-up since the rollout of the indirect taxation regime in July 2017, and is only behind the Rs 1.68 lakh crore-collection recorded in April last year

Will the GST Council be able to think big and bold?

Resolution of long-pending issues at the February 18 meeting will be a pointer to the GST Council’s intent to move ahead with wider reforms 

In Graphic Detail | The rise of gross tax revenue and the hiccups in between

‘In Graphic Detail’ is a special series of data stories covering the Union Budget's key elements over a short and long-term period

GST collection for May at Rs 1.02 lakh crore, 27.6% lower month-on-month

The May GST collections saw a 27.6 per cent drop from record sum of Rs 1.41 lakh crore in April, which was the highest monthly collection since the introduction of the nationwide tax.

Big Story | GST compensation row: 13 states agree to Centre’s borrowing options; will others follow?

All eyes will now be on the next GST council meeting to see how the logjam will be resolved

3 Point Analysis | How GST has lowered taxes, simplified procedures and more

Moneycontrol's Sakshi Batra does a 3 Point Analysis to find out how GST helped lower the tax rate and how the simplified processed led to higher compliance

Government looking at proposal to include mining royalty as input cost under GST

Once royalties are considered as input cost, then entities would be able to claim the benefit of input tax credit under the indirect tax regime.

Pharma industry recovers from GST pangs, poised for double digit growth

The transition to GST hasn't been smooth for the industry, as pharma supply chains have gone through unprecedented disruptions.

No pure GST on petrol, diesel; 28% tax plus VAT on anvil under GST

Before the two fuels are put under GST, the Centre has to decide if it is willing to let go of about Rs 20,000 crore of input tax credit that it currently earns.

Govt rolls out anti-profiteering forms for complaints against firms not passing on GST benefits

Consumers will have to provide details of product's price and the applicable tax rates for both, pre and post GST era.