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Aug 19, 2020 06:55 PM IST 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.
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Jul 30, 2020 04:37 PM IST 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
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Jul 01, 2020 08:58 PM IST 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.
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Jun 12, 2020 10:17 PM IST Moneycontrol's Shraddha Sharma does a 3-Point Analysis to understand the key issues discussed by the GST Council and its recommendations.
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Jun 05, 2020 06:16 PM IST 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.
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Jun 01, 2020 09:34 PM IST 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.
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May 29, 2020 06:28 PM IST 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.
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Mar 18, 2020 11:02 AM IST Rectification of inverted duty structure can become self-defeating if handsets turn costlier, impacting demand and growth
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Mar 15, 2020 07:49 AM IST 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.
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Mar 14, 2020 07:17 PM IST It also decided to extend the deadline for filing the GST9R and GSTR9C for FY19 till June 30.
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Feb 05, 2020 02:40 PM IST 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.
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Jan 03, 2020 02:37 PM IST -
Dec 20, 2019 02:57 PM IST IT is another area for improvement. Most GST problems that people face are due to poor design of filing returns
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Dec 20, 2019 02:48 PM IST It’s over to businesses which will have to ensure streamlining of processes for timely reconciliations
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Dec 19, 2019 01:53 PM IST A blueprint for better tax compliance, simpler procedure and a higher tax base will do a world of good
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Dec 19, 2019 11:12 AM IST Moneycontrol's Sakshi Batra talks to Gaurav Choudhury, Deputy Executive Editor, Moneycontrol to discuss the updates from the 38th GST council meeting.
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Dec 18, 2019 10:44 PM IST 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.
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Dec 18, 2019 03:35 PM IST Track this space for the latest updates on the GST Council meet on December 18.
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Dec 17, 2019 05:00 PM IST 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.
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Dec 06, 2019 09:51 AM IST 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
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Dec 03, 2019 08:51 PM IST 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.
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Oct 15, 2019 10:11 AM IST The system of decision making which the indirect tax embodies is unique and needs to be preserved at all costs
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Oct 03, 2019 11:35 AM IST 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.
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Sep 20, 2019 09:39 PM IST 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.
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Sep 18, 2019 06:44 PM IST 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