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Sunday, December 15, 2019

Goods and Services Tax


Likely GST hike, post corporate tax cut, signals govt’s shift in stance

December 13, 2019 4:06 am

The stage appears to be set for flipping a fundamental tenet of taxation — that of a direct tax, despite being a progressive levy, being cut even as an indirect tax, a regressive levy, now appears all set to be hiked.

GST rationalisation, compliance feature at Centre, state officers’ meet

December 11, 2019 4:43 am

One of the states also proposed a dual GST rate structure—10 per cent and 20 per cent—and doing away with rest of the rate slabs, one of the officials said.

Five state ministers to FM Sitharaman: ‘Facing acute pressure on fiscal’ because of GST dues

November 21, 2019 3:41 am

In a joint statement, five states/UTs — Kerala, West Bengal, Delhi, Rajasthan, Punjab — said they are facing “acute pressure” on their fiscal situation due to the delayed payment from Centre.

Deadline for GST annual returns extended; FM to seek opinion of experts on Saturday

November 15, 2019 4:13 am

The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019.

Goods and Services Tax: Centre planning cap on number of invoices for new registrants

October 31, 2019 4:39 am

The cap on the number of invoices will be in line with the annual turnover of the businesses, which could then be raised on basis of credit history, a senior Finance Ministry official said.

GST authorities arrest 2 for fraudulently availing Rs 127 cr refund

October 09, 2019 10:11 pm

The two individuals were found "involved in fake invoices racket having taxable value of Rs 931 crore and fraudulently passing/ availing Input Tax Credit (ITC) amounting to Rs 127 crore through a complex web chain of various entities".

37th GST Council meeting tomorrow: Focus on revenue protection; big-ticket rate cuts unlikely

September 19, 2019 4:09 am

A fitment committee, consisting of officials from states and the Centre, has already recommended against the lowering of GST rates on various items such as automobiles, biscuits as any cut at this stage could further dent the already slowing revenues.

PM Economic Advisory Council: Need to set up GST Council-like body for public spending

August 19, 2019 6:42 am

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

August 02, 2019 4:37 am

In July-March, gross tax growth need to grow at run rate of 22.3%; net tax growth at 29.5%.

Goods and Services Tax: Panel to look into automated system to tag risky taxpayers

July 30, 2019 4:21 am

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.


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.