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  • Do your due diligence before sending show cause notices on service tax defaults: CBIC tells officers May 06, 2021 05:52 PM IST

    Do your due diligence before sending show cause notices on service tax defaults: CBIC tells officers

    Tax-related associations say the department has issued notices even to many businesses which are exempt from service tax for the year 2015-16. Experts say that not all differences in data between income tax and service tax amount to tax evasion.

  • What caused record GST collections in April? May 06, 2021 02:44 PM IST

    What caused record GST collections in April?

  • Centre may call GST meeting this month as states seek rate cuts on essential medical items May 04, 2021 07:28 PM IST

    Centre may call GST meeting this month as states seek rate cuts on essential medical items

    Many states, including Delhi, Punjab and Chhattisgarh, want GST to be exempted temporarily on devices such as ventilators, concentrators, and life-saving drugs like Remdesivir.

  • COVID-19: As govt cuts GST, a look at duties on certain imported items, more clarity awaited on others May 03, 2021 08:06 PM IST

    COVID-19: As govt cuts GST, a look at duties on certain imported items, more clarity awaited on others

    While drugs like Remdesivir, Tocilizumab, Favipiravir and others are exempt from customs duties as well as IGST, there is still no clarity on the GST they would attract when manufactured in India.

  • Government extends income tax, GST compliance timelines due to outbreak of second wave of COVID-19 May 02, 2021 04:35 PM IST

    Government extends income tax, GST compliance timelines due to outbreak of second wave of COVID-19

  • COVID-19 vaccine: Centre mulls GST waiver to lower prices Apr 29, 2021 12:28 PM IST

    COVID-19 vaccine: Centre mulls GST waiver to lower prices

    The Centre has decided to open up the vaccination drive for everyone above 18 from May 1 onwards.

  • Industry requests Finance Ministry for more handholding on filing GST, other taxes Apr 23, 2021 03:27 PM IST

    Industry requests Finance Ministry for more handholding on filing GST, other taxes

    Industry tells government that more handholding is required to clear tax related confusion on the ground. Also calls for tax compliance deadline to be extended.

  • States seek urgent GST Council meeting amid rising COVID-19 cases Apr 19, 2021 10:18 AM IST

    States seek urgent GST Council meeting amid rising COVID-19 cases

    States are demanding GST exemption of crucial drugs and equipment used in COVID-19 treatment, such as remdesivir, medical grade oxygen used in oxygen cylinders, and related supplements.

  • 2020-21 indirect tax collections beat revised estimates by 8%: CBIC Chief Apr 13, 2021 12:18 PM IST

    2020-21 indirect tax collections beat revised estimates by 8%: CBIC Chief

    Out of the total provisional indirect tax collections, custom duty collections came in at Rs 1.32 lakh crore, excise and service tax collections came at Rs 3.91 lakh crore, while the net GST collection for the centre stood at Rs 5.48 lakh crore.

  • Data shows economy well-poised to deal with second COVID wave; but concerns remain Apr 06, 2021 09:48 PM IST

    Data shows economy well-poised to deal with second COVID wave; but concerns remain

    While data points like GST, housing and vehicle sales indicate that the economy is still on a strong path to recovery, industrial production and manufacturing sentiment numbers show that there is still a cause of concern. As COVID numbers spike again, Moneycontrol takes a look at some key high-frequency data.

  • GST revenue collection hits new record of Rs 1,23,902 crore in March 2021 Apr 01, 2021 02:10 PM IST

    GST revenue collection hits new record of Rs 1,23,902 crore in March 2021

    A 27 percent year-on-year growth has been recorded in the collection of GST last month.

  • Not possible to bring petrol, diesel under GST for next 8-10 years: Sushil Kumar Modi Mar 24, 2021 03:31 PM IST

    Not possible to bring petrol, diesel under GST for next 8-10 years: Sushil Kumar Modi

    Centre and states collectively collect over Rs 5 lakh crore tax on petroleum products, Sushil Modi told the Rajya Sabha while participating in a discussion on the Finance Bill 2021.

  • GST collections top Rs 1 lakh crore for five straight months since Oct 2020: MoS Finance Mar 23, 2021 04:44 PM IST

    GST collections top Rs 1 lakh crore for five straight months since Oct 2020: MoS Finance

    Anurag Thakur, during Question Hour, said this could be possible on the back of the measures taken by the government to boost economic activities over the last year to deal with the COVID-19 pandemic.

  • Mercedes Benz growth, investment limited by high taxes in India: MD Martin Schwenk Mar 17, 2021 10:45 AM IST

    Mercedes Benz growth, investment limited by high taxes in India: MD Martin Schwenk

    Under the GST regime, luxury cars are taxed under the 28 percent slab along with an additional cess of up to 25 percent.

  • No proposal for scrutiny of GST assessment in faceless mode: Anurag Thakur Mar 16, 2021 10:45 PM IST

    No proposal for scrutiny of GST assessment in faceless mode: Anurag Thakur

    Income tax assessments are being done in a faceless manner except in certain conditions and till March 10, a total of 82,072 assessment cases have been completed in a faceless manner, he added.

  • GST compensation required by state govts for FY22 to touch Rs 2 trillion: ICRA Mar 15, 2021 05:29 PM IST

    GST compensation required by state govts for FY22 to touch Rs 2 trillion: ICRA

    The state governments may need to utilise as much as 70-90 percent of their enhanced borrowing limits for FY2022 to meet the shortfall.

  • Petrol, diesel under GST | Centre open to discussions: Anurag Thakur Mar 10, 2021 08:34 AM IST

    Petrol, diesel under GST | Centre open to discussions: Anurag Thakur

    In a written reply to a question in the Rajya Sabha, Anurag Thakur said the GST Council had so far not recommended placing GST on petrol and diesel.

  • GST fraud of Rs 20,124 crore detected during November 9-January 31, says FM Nirmala Sitharaman Mar 09, 2021 06:33 PM IST

    GST fraud of Rs 20,124 crore detected during November 9-January 31, says FM Nirmala Sitharaman

    A nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit (ITC) fraudulently on the strength of fake/bogus invoices is being carried out, she said in a written reply to the Rajya Sabha.

  • SC disposes petition to extend GST amnesty scheme Mar 05, 2021 02:22 PM IST

    SC disposes petition to extend GST amnesty scheme

    The bench further highlighted that the scheme was “policy intervention" by the government and that “the terms on which the amnesty scheme was executed is in the realm of a policy decision."

  • Fuel price rise: States call for inclusion of petrol, diesel under GST ambit Mar 05, 2021 10:51 AM IST

    Fuel price rise: States call for inclusion of petrol, diesel under GST ambit

    At present, every state has its own way of taxing fuels, while the Centre also collects its own duties and cess.

  • GST officers arrest person for defrauding exchequer Rs 13.76 crore Mar 02, 2021 09:01 AM IST

    GST officers arrest person for defrauding exchequer Rs 13.76 crore

    Based on investigation, it appeared that PSR Metals was involved in using bazaar scrap to manufacture battery lead and was using the input tax credit of fresh batteries while clearing these new batteries without issuance of invoices.

  • At Rs 1.13 lakh crore, GST collections cross Rs 1 lakh crore mark for 5th month in a row in February Mar 01, 2021 05:53 PM IST

    At Rs 1.13 lakh crore, GST collections cross Rs 1 lakh crore mark for 5th month in a row in February

    GST collection in February stood at Rs 1.13 lakh crore, 7 percent higher year-on-year, but lower than an all-time high of nearly Rs 1.20 lakh crore in January, official data showed on March 1.

  • Bringing petroleum products under GST will be good move: Chief economic advisor K V Subramanian Feb 28, 2021 01:35 PM IST

    Bringing petroleum products under GST will be good move: Chief economic advisor K V Subramanian

    "It will be a good move, but the decision rests with the GST Council," Subramanian said during a recent interaction with FICCI FLO members.

  • Bharat Bandh on February 26: CAIT protests rising fuel prices, E-way bill and GST Feb 25, 2021 11:27 AM IST

    Bharat Bandh on February 26: CAIT protests rising fuel prices, E-way bill and GST

    Here is all you need to know about the Bharat Bandh called by CAIT on February 26

  • CAIT writes to PM Modi about GST issues, alleged violation of e-commerce rules by e-tailers Feb 22, 2021 08:38 AM IST

    CAIT writes to PM Modi about GST issues, alleged violation of e-commerce rules by e-tailers

    In its letter to the prime minister, the Confederation of All India Traders (CAIT) called for setting up of a "special working group" at the central level comprising senior officials, CAIT representatives and independent tax experts to review the GST structure and make recommendations to the government.

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