Goods and Service Tax (GST)
Goods and Service Tax (GST) News
GST collections dip below Rs 1 lakh crore to Rs 98,202 cr in August
This is the second time during this year that the revenue collection from the GST slipped below the Rs 1 lakh crore mark. First, it happened in June when the collection was Rs 99,939 crore.
Arun Jaitley piloted two epic reforms: GST and bankruptcy code
A breakdown in relations with the Reserve Bank of India over the issue of the Central bank’s surplus reserves and many other issues was another blip during his tenure.
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Arun Jaitley: PM Modi’s go-to man and key strategist on economic policy and legal issues
Apart from a series of measures to enhance the productivity of the Indian economy, Arun Jaitley was instrumental in bringing political consensus for a marathon legislative process and subsequent implementation of the Goods and Services Tax.
GST collections rise marginally to Rs 1.02 lakh crore in July
The gross GST collections during April-July stood at Rs 4,16,176 crore, up from Rs 3,89,568 crore in the corresponding period of the last fiscal. GST, which was introduced two years ago, has subsumed most of the indirect taxes.
Deficiencies in GST system point to lack of coordination: CAG report
In a report table in Parliament Tuesday, the CAG said that GST has unified multiple taxes, but has not simplified the tax compliance regime.
18% GST on flat owners paying monthly maintenance of over Rs 7,500
As per the rules, RWAs are required to collect GST on monthly subscription/contribution charged from its members if such payment is more than Rs 7,500 per flat per month and the annual turnover of RWA by way of supply of services and goods exceeds Rs 20 lakhs.
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Since GST rollout in July 2017, Rs 45,682.83 crore fraud detected
Also, in 2018-19, Rs 11,251 crore worth of cases of tax credit availment by issue of fake invoices were detected by the tax authorities and Rs 2,805 crore in April-June of the current fiscal.
Gujarat: Driver earning Rs 8,000 a month questioned on tax evasion of Rs 15 crore
Sources said the driver was “shocked” that he, who earns no more than Rs 8,000 a month, was questioned about things he allegedly had no knowledge of.
Death of enterprise
The Indian economy’s crisis is not of GDP growth, but a drying up of animal spirits
How a kachori shop in Aligarh has become a GST test case
This was outside Aligarh’s famous Mukesh Kachori Bhandar, and he was a member of the special investigations branch (SIB) of the state GST department in Aligarh deputed to prepare a “profile”.
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