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Goods and Services Tax

GOODS AND SERVICES TAX NEWS

Explained: The SC ruling that GST Council decisions are not binding on Centre or states

May 21, 2022 6:00 am

The Centre has said that the decision does not bring any change to the already existing framework. But some Opposition-ruled states have stated that it would give them greater space to take decisions in the federal structure.

Explained: Why online gaming could now attract a higher GST of 28%

May 03, 2022 3:09 pm

Casinos, online gaming and race courses could soon attract a GST of 28 per cent. West Bengal Finance Minister Chandrima Bhattacharya said there is consensus among states that (on) these three, the highest rate of tax should be levied.

Rs 1.68 lakh crore in April, GST collection soars to all-time high

May 02, 2022 8:40 am

This marks a 20 per cent increase from the April 2021 level on the back of improved compliance, enforcement action against tax evaders and pick-up in economic activity.

To achieve a revenue neutral structure, adjustments to GST rates could be carried out in a phased manner

April 27, 2022 9:46 am

While the Council should consider aligning the rates to pre-GST levels, it should be guided by the objective of streamlining the multiple rate structure, reducing the slabs. The situation has, however, been complicated by the recent surge in inflation.

Atmosphere being created that there is unhappiness in govt: Uddhav Thackeray

April 03, 2022 7:33 am

Thackeray further said that for insisting upon Marathi signboards in shops, the government is being criticised.

Explained: Why GST collections have topped Rs 1.30 lakh crore for fifth straight month

March 01, 2022 2:05 pm

Gross Goods and Services Tax revenue collections in February rose 17.6 per cent year-on-year to Rs 1.33 lakh crore. What's behind the rise in GST? Why is there a divergence among states?

GST collection up 18% at over Rs 1.33 lakh crore in February

March 02, 2022 4:05 am

The February mop-up was impacted by the Omicron wave that swept through the country and hence, the gross sales tax collection was lower than the record Rs 1,40,986 crore netted in January.

In meet with FM, states push for GST compensation extension by 5 years

December 31, 2021 7:45 am

Under GST, states were guaranteed compensation at the compounded rate of 14 per cent from the base year 2015-16 for losses arising due to implementation of the taxation regime for five years since its rollout. The compensation regime will end in June.

GST mop up in November at Rs 1.31 lakh crore, second highest since rollout

December 02, 2021 12:16 am

The GST revenues for the month of November 2021, are 25 per cent higher than November 2020, and 27 per cent higher over November 2019.

To correct duty structure, FinMin notifies 12% GST on textiles, footwear from January 1

November 22, 2021 2:24 am

For footwear also, the price differential has been done away with. The Ministry notified a uniform 12 per cent rate. At present, footwear up to Rs 1,000 a pair attracts 5 per cent GST.

GOODS AND SERVICES TAX VIDEOS

Budget Session: Naidu says ready to discuss all issues

February 22, 2016 2:50 pm

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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