GST Council to meet on August 27 to discuss compensation payout to states 

Sources said that the 41st meeting of the Goods and Services Tax (GST) Council would be a single agenda meeting on states' compensation to be held via video conferencing.

States unlikely to allow restructuring of GST rates for next 6-7 months

Finance Secretary Ajay Bhushan Pandey earlier this week informed the Parliamentary Standing Committee on Finance that the government is in no position to pay the GST share of states in keeping with the current revenue sharing formula

SMS-based nil GSTR-1 filing launched, late fee for delayed filing waived

The GST Council in its meeting last month waived late fee for delayed filing of GST returns by registered entities with nil liability between July 2017 to January 2020.

3-Point Analysis | GST Council meet and its recommendations

Moneycontrol's Shraddha Sharma does a 3-Point Analysis to understand the key issues discussed by the GST Council and its recommendations.

GST Council to meet on June 12

Faced with dismal collection and extended deadline for filing returns, the government has refrained from releasing the monthly GST revenue collection figures for the months of April and May.

GST Council to discuss waiver of late fee for August 2017 to January 2020

The CBIC said there have been demands for waiver of late fee for returns which were required to be filed from the beginning of Goods and Services Tax, that is August 2017.

GST Council to meet next month; FinMin not for raising rates on non-essential items

The nationwide lockdown was announced by Prime Minister Narendra Modi on March 24 for 21 days in the first leg in a bid to contain the spread of novel coronavirus.

GST on mobile needs a review

Rectification of inverted duty structure can become self-defeating if handsets turn costlier, impacting demand and growth

GST Council meet: Finance Ministry to examine possibility of borrowing from market to solve compensation issue

Finance Minister Nirmala Sitharaman said that the impact of GST Council's possible borrowing on the Fiscal Responsibility and Budget Management Act, would have to be assessed.

GST Council: States not staring at financial emergency, asks Infy to fix glitches by June

It also decided to extend the deadline for filing the GST9R and GSTR9C for FY19 till June 30.

Revenue share: Fiscal contagion adds to fissure between Centre and states

As per law, Centre has to protect a 14 percent growth in states' GST revenues. In case of shortfalls, states have to be compensated to the extent of the shortfall till June 2022.

Weekly Tactical Pick - ITC

To help GST take a quantum leap, keep it simple

IT is another area for improvement. Most GST problems that people face are due to poor design of filing returns

Checking tax evasion over hike in GST rate – a fair choice to up revenue

It’s over to businesses which will have to ensure streamlining of processes for timely reconciliations

GST Council is right not to hike rates. Here’s a to-do list

A blueprint for better tax compliance, simpler procedure and a higher tax base will do a world of good

Editor's Take | 38th GST Council meeting updates

Moneycontrol's Sakshi Batra talks to Gaurav Choudhury, Deputy Executive Editor, Moneycontrol to discuss the updates from the 38th GST council meeting.

In a first, GST Council votes on single tax rate for lotteries

All states agreed that a knee-jerk reaction of rate hike wouldn't be prudent because of the present economic crisis. The Council is unlikely to go for a rate hike or a major rejig at the moment.

GST Council Meeting Highlights: Single rate of 28% on both state-run and private lotteries, effective from Mar 1, 2020

Track this space for the latest updates on the GST Council meet on December 18.

GST Council to meet on Wednesday amidst talk of rate hike to meet revenue shortfall

Some of the states such as West Bengal have opposed any hike in cess rates or rate calibration amid a slowdown in the economy, stating that consumers as well as the industry are passing through a distressing time.

Don't tinker with the GST architecture

The spirit of  fiscal cooperation has been put to a severe test with the centre falling behind in paying out compensation due to the states

GST Council to meet on December 18; compensation cess issue to top agenda

There is a view that compensation cess may no longer be enough to adequately compensate states and there is a need to come up with some other mechanisms.

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

Policy | Cooperative federalism is the need to the hour, but it’s missing

The Centre has come to commandeer too much of resources through centrally-sponsored schemes over the formulation of which the states have no say. These schemes are implemented by the states but the Centre takes credit for them.

FM Nirmala Sitharaman cuts GST on hotels, but makes caffeinated drinks costlier

To boost tourism, the Council has approved cutting tax rates on rooms with tariff of Rs 7,500 and above to 18 percent and those with tariff below Rs 7,500 to 12 percent.

Fitment panel rejects GST rate cut for auto, biscuits

The Committee was of the view that the rate cut would hurt the collection as auto sales contribute almost Rs 50,000-60,000 crore to the total GST kitty