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Feb 28, 2021 01:35 PM IST "It will be a good move, but the decision rests with the GST Council," Subramanian said during a recent interaction with FICCI FLO members.
Feb 25, 2021 11:27 AM IST Here is all you need to know about the Bharat Bandh called by CAIT on February 26
Feb 22, 2021 08:38 AM IST 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.
Feb 20, 2021 01:26 PM IST 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.
Feb 19, 2021 08:55 AM IST 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
Feb 17, 2021 05:45 PM IST Prime Minister Narendra Modi said India was spending Rs 7.5 lakh crore over five years to build its oil and gas infrastructure.
Feb 15, 2021 08:54 PM IST 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.
Feb 15, 2021 08:01 PM IST 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).
Feb 14, 2021 03:31 PM IST 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.
Feb 12, 2021 03:14 PM IST Extending the levy of cess till 2025-26 needed to compensate states for GST revenue shortfall, estimates Finance Commission
Feb 08, 2021 08:34 PM IST 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.
Feb 03, 2021 10:06 PM IST 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.
Feb 01, 2021 01:59 PM IST 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.
Jan 31, 2021 08:37 PM IST This is the highest GST revenue the government has collected since the rollout of the Goods and Services Tax regime.
Jan 25, 2021 03:31 PM IST As many as 258 people have been arrested since mid-November during the government's crackdown on fake GST invoices.
Jan 21, 2021 03:04 PM IST The current GST rate on agrochemicals is 18 percent.
Jan 18, 2021 07:13 PM IST 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.
Jan 13, 2021 06:38 PM IST 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.
Jan 13, 2021 10:35 AM IST 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.”
Jan 12, 2021 11:08 PM IST 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.
Jan 07, 2021 01:16 PM IST 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
Jan 05, 2021 08:04 PM IST 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.
Jan 04, 2021 09:28 AM IST 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.
Jan 03, 2021 06:52 PM IST 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.
Jan 03, 2021 05:30 PM IST 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.
