Goods and Services tax (GST)

Goods and Services tax (GST) News

GST collection falls to 19-month low on weak consumption demand

GST collections are expected to be hit further as the recent rate cuts announced by the GST Council on September 20 will come into effect from October 1, leaving no room for further rate cuts.

Tax cuts for electric vehicles, wind turbines to be on agenda at 36th GST Council meet

The meeting will happen through video conferencing on Thursday, the Finance Ministry said Sunday.


Rationalisation of slabs, GST on fuel in industry wishlist

As GST implementation completes two years on July 1, industry bodies such as CII, FICCI urged the government to take further rationalisation measures to kickstart GST 2.0.

Risk parameters developed to audit taxpayers filing annual GST returns

GST audits were earlier scheduled to commence from July 1 for those taxpayers who have filed their GST annual return.

Goods and Services Tax evasion: SC agrees to examine power of tax officials to arrest individuals

The order also comes two days after the SC upheld a Telangana High Court verdict that had held that a person can be arrested by the concerned authority in cases of GST evasion.

Manpasand Beverages MD, two others arrested in 40 crore GST fraud case

The MBL has a market capitalization of Rs 1,200 crore and reported total standalone income of Rs 985 crore for the year 2017-18, with a net profit of about Rs 100 crore.


In Varanasi, weavers' woes — post-noteban and GST — not a poll issue

Owners of handloom units in Varanasi complain that by introducing GST, the government has "cleverly increased taxes in the garb of making taxation efficient and systematic" while harping on issues that have little to do with real problems this election season.

Explained: GST collection hits record high of Rs 1.13 lakh crore in April. What does it imply

Though the double-digit growth in GST revenue from last year is being seen as a sign of growth in the taxpayer base, it also reflects the year-end adjustments and reconciliations at the end of the financial year 2018-19.

GST collection scales record high of Rs 1.13 lakh crore in April

The collection last month has been the highest since the introduction of GST and also reflects 10.05 per cent growth over April 2018, when the collection was Rs 1,03,459 crore.

Council to lay down rules for transition into lower GST rates for real estate sector

The 80 per cent sourcing norm is likely to exclude purchase of capital goods so that the major component is from purchase of construction material such as cement and sand.