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  • GST council needs to work out mid-way solution for settling revenue shortfall issue: Sushil Modi Aug 30, 2020 07:10 PM IST

    GST council needs to work out mid-way solution for settling revenue shortfall issue: Sushil Modi

    The Centre has given two options to the states to borrow either from a special window facilitated by the RBI or from market and has also proposed extending the compensation cess levied on luxury, demerit and sin goods beyond 2022.

  • GST news: Textile ministry invites bids to conduct study GST rates: Report Aug 24, 2020 09:48 AM IST

    GST news: Textile ministry invites bids to conduct study GST rates: Report

    GST latest news: Appointed consultants by the textile ministry would be required to recommend changes to the present tax and duty structure.

  • 18% GST to be levied on alcohol-based hand sanitizers: AAR Jul 14, 2020 09:59 PM IST

    18% GST to be levied on alcohol-based hand sanitizers: AAR

    The authority further said although the Ministry of Consumer Affairs has classified hand sanitizers as an essential commodity, the GST law has a separate list of exempted goods

  • Centre releases Rs 36,400 crore as December to February GST compensation to states Jun 04, 2020 08:50 PM IST

    Centre releases Rs 36,400 crore as December to February GST compensation to states

    This comes at a time when the resources of various state governments have taken a hit due to the COVID-19 pandemic.

  • Lockdown impact | GST collections for business activities in April drop to Rs 43,000 crore Jun 04, 2020 04:32 PM IST

    Lockdown impact | GST collections for business activities in April drop to Rs 43,000 crore

    "The decline is primarily because April was a month of complete lockdown and only essential services were working during this month," sources told CNBC TV-18.

  • Government extends last date for filing annual GST return for FY19 until September May 06, 2020 05:51 PM IST

    Government extends last date for filing annual GST return for FY19 until September

    In another trade-friendly move, the Central Board of Indirect Taxes and Customs (CBIC) has also extended the validity of e-way bills that were generated on or before March 24, and had expiry between March 20 and April 15, 2020.

  • Centre gives time till Sept 30 to re-label new retail price on unsold stock Apr 02, 2020 07:05 PM IST

    Centre gives time till Sept 30 to re-label new retail price on unsold stock

    In the wake of revision in GST, the Centre has allowed manufacturers, packers and importers to re-label new retail prices on their unsold pre-packaged products by September 30 this year

  • Centre to release another Rs 35,000 cr compensation to states soon Feb 09, 2020 12:30 PM IST

    Centre to release another Rs 35,000 cr compensation to states soon

    Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on the base year of 2015-16.

  • Importers, exporters to mandatorily declare GSTIN in documents from Feb 15 Feb 09, 2020 12:23 PM IST

    Importers, exporters to mandatorily declare GSTIN in documents from Feb 15

    GSTIN is a 15-digit PAN-based unique identification number allotted to every registered person under GST.

  • 245 Star Export Houses, 5,000 small exporters denied GST dues: Report Dec 30, 2019 03:59 PM IST

    245 Star Export Houses, 5,000 small exporters denied GST dues: Report

    This comes at a time when the country's exports have not performed all too well, with merchandise exports having contracted by 0.34 percent year-on-year in November.

  • IGST settlement: Sushil Modi to head GoM, FM Nirmala Sitharaman opts out of panel Dec 10, 2019 05:04 PM IST

    IGST settlement: Sushil Modi to head GoM, FM Nirmala Sitharaman opts out of panel

    The reshuffle in the panel's composition comes in the wake of issues being raised by state governments regarding GST compensation.

  • Financial crunch due to Centre's failure to release GST dues to Kerala: Thomas Isaac Nov 19, 2019 05:10 PM IST

    Financial crunch due to Centre's failure to release GST dues to Kerala: Thomas Isaac

    Replying to a notice seeking leave for adjournment motion in the state assembly, Isaac said fears expressed by the opposition that the state was undergoing a severe financial crisis was unfounded.

  • Tax department seeks 18% GST levy on CEO, CXO salaries: Report Nov 14, 2019 05:17 PM IST

    Tax department seeks 18% GST levy on CEO, CXO salaries: Report

    As per the CGST Act, any supply of goods or services or both between different GST registrations having the same PAN (distinct persons) shall be treated as "supply" and shall attract GST.

  • GST blues and how to avoid the wrong medicines Oct 15, 2019 10:11 AM IST

    GST blues and how to avoid the wrong medicines

    The system of decision making which the indirect tax embodies is unique and needs to be preserved at all costs

  • Govt constitutes panel to suggest measures to augment GST revenue Oct 10, 2019 08:08 PM IST

    Govt constitutes panel to suggest measures to augment GST revenue

    The panel comprising of state-level GST commissioners and centre government officials has been asked to suggest urgent measures to arrest the fall in tax revenues and suggest steps to be taken to improve revenue collection.

  • How tax compliance has evolved in India since GST's rollout Oct 04, 2019 08:07 PM IST

    How tax compliance has evolved in India since GST's rollout

    In the 24 months since its implementation, there have been many promises that have been made, many that have been met, and for some, still a distance to travel.

  • CAG report lays bare gaps in IGST settlement. Time to retool? Aug 12, 2019 01:47 PM IST

    CAG report lays bare gaps in IGST settlement. Time to retool?

    The input tax credit (ITC) model of GST owed its origin to the premise of ‘matched invoices’. But it has become too problematic.

  • Two years of GST: Steady equilibrium in sight amid stable revenue growth, but procedural irritants remain a worry Jul 01, 2019 04:09 PM IST

    Two years of GST: Steady equilibrium in sight amid stable revenue growth, but procedural irritants remain a worry

    GST promised to overhaul India's indirect tax system by consolidating an untidy patchwork of local and central duties such as VAT, central excise and octroi into a single levy, make the tax administration more efficient and turn India into a common national market by removing fiscal barriers among states.

  • GST Council mandates e-ticketing for cinemas, industry players say no impact on business Jun 26, 2019 07:26 PM IST

    GST Council mandates e-ticketing for cinemas, industry players say no impact on business

    Most multiplexes are selling e-tickets and are GST compliant.

  • To plug GST evasion, government may soon launch e-invoice provision May 01, 2019 02:02 PM IST

    To plug GST evasion, government may soon launch e-invoice provision

    Businesses with a turnover exceeding a particular amount will have to generate electronic invoice either on a government portal or on the Goods and Services Tax (GST) portal.

  • Can builders claim ITC for material bought before April 1? GST council to clarify next week Mar 15, 2019 04:28 PM IST

    Can builders claim ITC for material bought before April 1? GST council to clarify next week

    GST council will meet on March 19 to finalise guidelines and rules on lower rates on under construction houses that will come into force from April 1, but without input tax credit benefits

  • GST rate cut may boost insurance renewals of commercial vehicles Dec 24, 2018 06:34 PM IST

    GST rate cut may boost insurance renewals of commercial vehicles

    GST on third party motor insurance for goods carrying vehicles has been slashed from 18 percent to 12 percent

  • Television prices to see 8-10% decrease from January 1 Dec 22, 2018 05:58 PM IST

    Television prices to see 8-10% decrease from January 1

    GST Council has cut the tax rate on televisions upto 32 inches to 18 percent from 28 percent

  • Editor’s Take | GST mop-up tops Rs 1 lakh crore Nov 02, 2018 05:28 PM IST

    Editor’s Take | GST mop-up tops Rs 1 lakh crore

    Sakshi Batra is in conversation with Gaurav Choudhury to find what factors led to the surge in GST collections and how crucial is it for the government to sustain the pace at which it is mopping up tax under the new regime.

  • TDS/TCS provisions under GST to come into effect from Oct 1 Sep 13, 2018 07:13 PM IST

    TDS/TCS provisions under GST to come into effect from Oct 1

    E-commerce companies will now be required to collect up to 1 per cent TCS while making any payment to suppliers under the Goods and Services Tax (GST).

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