Goods and Services Tax
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PM Economic Advisory Council: Need to set up GST Council-like body for public spending
The Prime Minister’s Office and the Finance Minister have been meeting various stakeholders over the last week to discuss the slowdown which is adversely impacting various sectors now.
Tax revenue growth: Widening run rate gap may hit govt’s fiscal math
In July-March, gross tax growth need to grow at run rate of 22.3%; net tax growth at 29.5%.
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Goods and Services Tax: Panel to look into automated system to tag risky taxpayers
The GST Council has formed a 10-member ‘Committee of Officers on Risk-Based Management of Taxpayers under GST regime’, which will submit its report within a month.
Boost for electric vehicles: GST Council trims tax on electric cars, chargers to 5%
The changes would be effective from August 1. The reduced GST rates for electric vehicles (EVs) are estimated to lead to an annual revenue loss of around Rs 60 crore, officials said.
GST Council meeting: State FMs connect via video link, Centre defers meet last minute
Officials said Sitharaman was required to be present in Parliament as Rajya Sabha was scheduled to take up discussion for amendments to the Insolvency and Bankruptcy Code along with the introduction of The Companies (Amendment) Bill, 2019 in Lok Sabha.
West Bengal FM raises concerns with Centre over proposed tax cut for EVs
Calling for a calibrated manner to shift towards electric vehicles while supporting the traditional industry with higher emission standards, Amit Mitra in his letter said that GST rate reduction should be considered for BS VI compliant vehicles and hybrid vehicles.
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GST collection of states rises to Rs 5.18 lakh crore in financial year 2018-19
Besides, Centre has released Rs 81,177 crore compensation to states during 2018-19, as against Rs 48,178 crore during July-March period of 2017-18 fiscal.
How to file GST return online?
GST Return Filing Online: After logging in on the portal, invoices need to be uploaded, following which an invoice reference number will be issued against each invoice. After that, outward return, inward return, and cumulative monthly return have to be filed online.
GST: Two years on, birth pangs have been addressed, the system has stabilised
Going by international experience, GST has taken between two to five years to stabilise. In this context, in terms of revenue yield, the Indian GST has done remarkably well.
Goods and Services Tax: New returns system, single refund window, e-invoice ready for rollout
The Finance Ministry will mark the completion of two years of GST, with Minister of State for Finance and Corporate Affairs Anurag Thakur presiding over the event alongside key secretaries and officials of various departments, the finance ministry said in a release on Sunday.
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Goods and Services Tax Network Rejects CAG's Request To Appoint Auditor
GSTN or Goods and Services Tax Network, a private limited company set up in 2013 for providing IT infrastructure to all stakeholders for the implementation of the Goods and Services Tax, has rejected a request from CAG to appoint an auditor as well as to conduct a supplementary audit as is being done, at present, […]
Budget Session: Naidu says ready to discuss all issues
New Delhi, Feb 22 (ANI): Briefing the media after the all-party meet, Union Minister for Parliamentary Affairs M. Venkaiah Naidu on Monday said today's meeting helped to build consensus to make parliament function smoothly. He added that some people wanted to discuss governor's issue, agriculture crisis, Jat reservation whereas some people suggested the Goods and Services Tax (GST) to be the top priority. He cleared the air by saying that they are ready to discuss all the burning issues.
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