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Goods and Services Tax (GST)
The Goods and Services Tax (GST) is a type of indirect tax levied on the supply of goods and services in India that combined multiple indirect taxes such as VAT, service tax, excise duty, and others,
...Read more- RBI’s repo auction aimed at easing liquidity stress of banks: dealers
The central bank infused Rs 46,790 crore through a 14-day variable rate repo auction at a cut-off rate of 6.51 percent, just above the repo rate.
- Online gaming to attract investment once tax policy is finalised: Nirmala Sitharaman
The minister said the discussion is going on at the ministerial level in the GST Council into various aspects of online gaming, including taxation and regulation.
- Moneycontrol Selects: Top stories this evening
Our specially curated package of the most interesting articles to help you stay at the top of your game.
- GST Council Meeting: Entire compensation cess to states will be cleared, says FM
49th GST Council Meeting 2023: The GST Council has also decided to lower the GST on liquid jaggery, pencil sharpeners, and certain tracking devices, the minister added.
- 49th GST Council Meeting Highlights: Compensation to states cleared, rate cuts announced, and more
49th GST Council Meeting Highlights: "We will continue clearing any pending compensation cess amounts of states as and when they give their AG (accountant general) certificates," says FM Nirmala Sitharaman post meeting.
- GST Council tackling issues but major headaches remain
The GST Council's meeting on February 18 will leave it one short of a half century of meetings but the work ahead of it is arduous
- GST collections record second highest mop-up of Rs 1.56 lakh crore in January
Goods and Services Tax collections have now exceeded Rs 1.4 lakh crore for 11 consecutive months
- 18% GST on air freight leaves bad taste in the mouths of Indian betel leaf exporters
Say, the move could see Bangladesh, India’s main competitor, gaining. Betel leaf, used in making paan and as mouth fresheners, is mainly exported to the UK, Europe, Saudi Arabia, and Oman.
- Unregistered persons can claim tax refunds for cancelled contracts on GST portal
The new functionality 'Refund for Unregistered person' has been made available on the GST portal and the unregistered person, who wants to file an application for a refund shall obtain a temporary registration on the common portal, using his Permanent Account Number (PAN).
- SUV tax regime to get streamlined, thanks to clarifications by Finance Minister Nirmala Sitharaman
With SUVs forming a significant part of passenger vehicle sales, the clarifications have come at an opportune time
- GST Council gives nod to decriminalise 3 types of offences, raises limit for launching prosecution to Rs 2 crore
No decision was taken to increase the incumbent tax rate on any item during the 48th GST Council meeting, the finance ministry said.
- GST Council Meeting Highlights: No tax increase on any item; GST on biofuel down from 18% to 5%
GST Council Meeting Highlights: The GST Council recommended three types of offences be decriminalized. No decision on taxation of tobacco and gutka was taken, despite it being among the prominent issues on the Council meeting's agenda today.
- GST Council to meet virtually on December 17
The 47th meeting was held on June 29 2022, in Chandigarh.
- GST system needs more resources, attention to improve: Tamil Nadu's PTR
Tamil Nadu's finance minister also expressed concern about the low frequency with which the GST Council has been meeting.
- Government mulling one-time settlement for businesses over minor GST offences
Willful tax evasion will not be covered by the scheme. Repeat offenders will also not be eligible.
- Finance minister reiterates all states agreed with recent GST Council decisions
“I take extreme pride to say that Council has applied its mind at various levels,” Nirmala Sitharaman said.
- Leasing just got expensive: what to keep in mind
Beginning 1 July 2022, GST will be payable on renting residential property to a person registered under GST. However, if the property is rented to an unregistered person, GST would not be charged.
- Curtain-raiser: What to expect from GST Council meeting
India’s GST Council, the apex decision-making body of the indirect tax regime that completes five years this week, is meeting in Chandigarh on June 28-29.
- GST at 5: Accountants still confront major issues in filing returns
Chartered accountants struggle in filing GST returns five years after the introduction of the tax, billed as the single biggest taxation reform in independent India.
- GST Council Meet: Rate changes on some items likely, compensation for states tops agenda
The 47th meeting of the GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and UTs, is scheduled for June 28-29.
