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Monday, August 02, 2021

Goods and Services tax (GST)

GOODS AND SERVICES TAX (GST) NEWS

GST revenue slips below Rs 1 lakh crore in June, hits 10-month low of Rs 92,849 crore

July 06, 2021 5:39 pm

At Rs 92,849 crore, the Goods and Services Tax (GST) collection is the lowest in 10 months since August 2020, when it was Rs 86,449 crore, official numbers released Tuesday showed.

Enhanced GST revenue collections should now be 'new normal': FM Sitharaman

July 01, 2021 12:50 pm

In a message to tax officers on the fourth anniversary of historic tax reform GST, she said in the last four years the taxpayer base has almost doubled from 66.25 lakh to 1.28 crore.

GST reduced tax rate, increased compliance; more than 66 crore returns filed in four years: FinMin

June 30, 2021 3:16 pm

In a series of tweets, the ministry said GST has simplified compliance for all taxpayers and the GST Council also recommended several trade beneficial clarifications in light of the COVID-19 pandemic.

Will we write an elegy for GST?

June 20, 2021 8:38 am

P Chidambaram writes: Mr Modi’s government has weaponised the GST to browbeat states. The GST Council has been reduced to a talking shop

GST Council meet: Sitharaman says import of free Covid-related relief items to be exempted from IGST till August 31

May 28, 2021 9:19 pm

GST Council meeting: The Goods and Services Tax (GST) Council led by Finance Minister Nirmala Sitharaman also decided to put Amphotericin B, a key medicine for the treatment of black fungus, in the list of items exempted from IGST.

Aligarh's lock industry hit hard by lockdowns, seeks urgent help

May 23, 2021 2:45 pm

To address the immediate needs of the industry, the secretary of the Aligarh Industrial Estate Manufactures Association, Dinesh Chand Varshney, has sent a memorandum to the chief minister, apprising him of the situation.

Petrol price can come down to Rs 75 if brought under GST, but there is lack of political will: SBI Economists

March 04, 2021 1:30 pm

The SBI economists said bringing petrol and diesel under the goods and services tax is an unfinished agenda of the GST framework and getting the prices under the new indirect taxes framework can help.

Short of expected tax revenue, Maharashtra may see curtailed budget: Ajit Pawar

February 07, 2021 10:38 pm

Pawar added, “We have not cut the district planning committee funds and MLAs' fund despite the Centre stopping the Rs 5 crore MP fund due to pandemic-induced constraint.”

Pre-GST era arrears: Punjab clears one-time settlement scheme for traders

January 12, 2021 1:33 am

The Punjab One Time Settlement Scheme for Recovery of Outstanding Dues-2021 will be implemented from February 1 and the state exchequer would bear a financial burden of Rs 121.06 crore.

GST shortfall: Chhattisgarh picks Centre’s borrowing proposal; 27 states, 3 Union Territories onboard

December 04, 2020 7:10 am

Jharkhand is the only state to not have accepted the borrowing scheme meant to raise funds to compensate the shortfall in protected GST revenue.