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  • 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.

  • Centre releases Rs 1 lakh crore GST compensation to states Feb 20, 2021 01:26 PM IST

    Centre releases Rs 1 lakh crore GST compensation to states

    The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories (Delhi, Jammu & Kashmir & Puducherry), taking the total amount released so far under the special borrowing window set up in October last year to Rs 1 lakh crore.

  • PM's assurance on natural gas inclusion under GST spells new investment opportunities Feb 19, 2021 08:55 AM IST

    PM's assurance on natural gas inclusion under GST spells new investment opportunities

    When natural gas is brought under the ambit of GST, the government should ensure that it also includes distribution of gas and regasification of LNG

  • India committed to bring natural gas under GST, says PM Modi Feb 17, 2021 05:45 PM IST

    India committed to bring natural gas under GST, says PM Modi

    Prime Minister Narendra Modi said India was spending Rs 7.5 lakh crore over five years to build its oil and gas infrastructure.

  • GST officers arrest 4 in 3 different cases of ITC fraud of Rs 178 crore Feb 15, 2021 08:54 PM IST

    GST officers arrest 4 in 3 different cases of ITC fraud of Rs 178 crore

    In one case, four non-existent firms were created by the main perpetrators to pass on ITC of Rs 54 crore, primarily to 14 other firms.

  • FinMin releases weekly instalment of Rs 6,000 crore to states to meet GST shortfall Feb 15, 2021 08:01 PM IST

    FinMin releases weekly instalment of Rs 6,000 crore to states to meet GST shortfall

    Out of this, an amount of Rs 86,729.93 crore has been released to the states and Rs 8,270.07 crore to the three UTs with legislative assembly (Delhi, Jammu and Kashmir, Puducherry).

  • GST officers to immediately suspend taxpayer's registration for 'significant anomalies' in sales return Feb 14, 2021 03:31 PM IST

    GST officers to immediately suspend taxpayer's registration for 'significant anomalies' in sales return

    As per the SOP, the registration of specified taxpayers shall be suspended and system generated intimation for suspension and notice for cancellation of registration in form GST REG-31, containing the reasons of suspension, shall be sent to such taxpayers on their registered e-mail address.

  • GST compensation cess on vehicles and tobacco might stay till 2025-26 Feb 12, 2021 03:14 PM IST

    GST compensation cess on vehicles and tobacco might stay till 2025-26

    Extending the levy of cess till 2025-26 needed to compensate states for GST revenue shortfall, estimates Finance Commission

  • Over Rs 2.06 lakh crore GST compensation to states due for April-November Feb 08, 2021 08:34 PM IST

    Over Rs 2.06 lakh crore GST compensation to states due for April-November

    Minister of State for Finance Anurag Singh Thakur, in a written reply in the Lok Sabha, said GST compensation of Rs 40,000 crore has been released to all states/Union Territories to meet partly the bi-monthly compensation for period April-May 2020 as the GST Compensation Fund was not adequate to meet the full compensation for the period.

  • INTERVIEW | Cutting income tax rates isn't the only way to provide relief: Finance Secretary Feb 03, 2021 10:06 PM IST

    INTERVIEW | Cutting income tax rates isn't the only way to provide relief: Finance Secretary

    In an exclusive interview to Moneycontrol, Ajay Bhushan Pandey said that GST collections in the last couple of months have improved because of systemic changes undertaken by the department of revenue, without increasing tax rates.

  • Budget 2021 | Government targets gross tax revenue of Rs 22.17 lakh crore in FY22 Feb 01, 2021 01:59 PM IST

    Budget 2021 | Government targets gross tax revenue of Rs 22.17 lakh crore in FY22

    The Centre's net tax revenue for FY22 has been pegged at Rs 15.45 lakh crore. Corporate tax collection for FY22 has been pegged at Rs 5.47 lakh crore, personal income tax at Rs 5.61 lakh crore and revenue from Goods and Services Tax (GST) at Rs 6.3 lakh crore.

  • Budget eve cheer for FM | January 2021 GST collection touches record Rs 1.20 lakh crore Jan 31, 2021 08:37 PM IST

    Budget eve cheer for FM | January 2021 GST collection touches record Rs 1.20 lakh crore

    This is the highest GST revenue the government has collected since the rollout of the Goods and Services Tax regime.

  • In crackdown on fake GST invoices, 258 arrested since November: Report Jan 25, 2021 03:31 PM IST

    In crackdown on fake GST invoices, 258 arrested since November: Report

    As many as 258 people have been arrested since mid-November during the government's crackdown on fake GST invoices.

  • Budget 2021: CropLife India demands GST rate cut on agrochemicals and focus on R&D Jan 21, 2021 03:04 PM IST

    Budget 2021: CropLife India demands GST rate cut on agrochemicals and focus on R&D

    The current GST rate on agrochemicals is 18 percent.

  • FinMin releases weekly instalment of Rs 6,000 crore to states to meet GST compensation shortfall Jan 18, 2021 07:13 PM IST

    FinMin releases weekly instalment of Rs 6,000 crore to states to meet GST compensation shortfall

    The ministry in a statement said it has released the 12th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation shortfall.

  • Is GST applicable for skipping notice period and canteen food? It’s a yes and no Jan 13, 2021 06:38 PM IST

    Is GST applicable for skipping notice period and canteen food? It’s a yes and no

    A recent decision by the Gujarat Authority for Advance Rulings has ruled in a case for imposition of 18 percent GST on the recovery of notice pay from employees who skip serving this period. A similar 5 percent GST is also applicable on food sold in canteens.

  • 18% GST on recovered pay for employees while leaving job without serving notice period Jan 13, 2021 10:35 AM IST

    18% GST on recovered pay for employees while leaving job without serving notice period

    Terming it as “tolerating an act”, the Gujarat Authority of Advance Ruling said that recovery of the amount would be in lieu of “breach in serving stipulated notice period.”

  • Coca-Cola unit is the latest company to face taxman’s scrutiny for alleged evasion of GST Jan 12, 2021 11:08 PM IST

    Coca-Cola unit is the latest company to face taxman’s scrutiny for alleged evasion of GST

    Hindustan Coca-Cola Beverages Pvt Ltd gets show-cause notice for allegedly not paying taxes on the promotional and marketing amount it received from parent. The company confirms receipt of notice, says it fully complies with regulations.

  • Budget 2021: Real estate sector wants critical construction material for affordable housing be taxed at lower GST Jan 07, 2021 01:16 PM IST

    Budget 2021: Real estate sector wants critical construction material for affordable housing be taxed at lower GST

    Other demands include maintenance charges collected by housing societies be excluded from the purview of GST and real estate developers be allowed to claim a refund on accumulated Input Tax Credit

  • Better tax collections may not be enough to improve government's overall revenue position Jan 05, 2021 08:04 PM IST

    Better tax collections may not be enough to improve government's overall revenue position

    The gross tax revenue estimated in Budget 2020-21 stood at Rs 24.23 lakh crore, of which corporation tax was estimated to be Rs 6.81 lakh crore, income tax Rs 6.38 lakh crore, and GST Rs 6.90 lakh crore, among others.

  • Record GST collection indicates economic recovery: Finance Secretary Jan 04, 2021 09:28 AM IST

    Record GST collection indicates economic recovery: Finance Secretary

    In December 2020, GST collection rose to Rs 1.15 lakh crore, the highest ever monthly revenue since the system was implemented in July 2017.

  • Government crackdown on 7,000 GST evaders, 185 arrested Jan 03, 2021 06:52 PM IST

    Government crackdown on 7,000 GST evaders, 185 arrested

    The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside pick up in the economy.

  • GST officers arrest one person for duty evasion of around Rs 831.72 crore Jan 03, 2021 05:30 PM IST

    GST officers arrest one person for duty evasion of around Rs 831.72 crore

    On the basis of searches at the premise of manufacture, it was found that illegal manufacturing of gutkha/pan masala/tobacco products was going on.

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