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Sunday, May 22, 2022

GST council

GST COUNCIL NEWS

Review or repeal? SC’s GST ruling sparks debate on stand within Cong

May 21, 2022 9:25 am

A section of the Congress leaders believe that the party should have demanded a review of the GST mechanism or repeal of the GST Act in its Udaipur chintan shivir declaration and that it lost an opportunity by not doing so.

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.

GST collections hit all-time high of Rs 1.42 lakh crore

April 02, 2022 6:59 am

The average monthly gross GST collections for FY22 now stands at Rs 1.23 lakh crore, which is 30.5 per cent higher than the monthly average seen in the previous fiscal.

Explained: Why the GST Council is reconsidering rates on textiles

December 31, 2021 12:41 pm

🔴 The GST Council in its 45th meeting in September had recommended making certain rate changes for footwear and textiles to correct the inverted duty structure.

Surat textile traders shut shops to protest proposed GST hike

December 30, 2021 10:07 pm

As part of the protest, owners of power-loom units banged rolling pins on steel plates in 35 industrial estates in the city. In JJ Market and Radha Raman Market on Ring Road, the traders participated in "havan".

GST hike on textiles to cause closure of 1 lakh units: Amit Mitra

December 25, 2021 4:33 am

🔴 Mitra has urged Nirmala Sitharaman to call a GST Council meeting urgently and roll back the proposed hike on textile products from 5 per cent to 12 per cent under GST.

GST GoM defers meeting, will submit final report to Council next month

November 27, 2021 4:31 am

Some state FMs had raised concerns over impact of any major rate changes. Some had also cited concerns about inflationary impact.

Tweaks to taxation: Finance Ministry seeks trade, industry body views

November 06, 2021 2:12 am

In a communication to trade and industry associations coming in the aftermath of the impact of the Covid-19 pandemic, suggestions have to be sent to the ministry by November 15, 2021.

Course correction mode: GST Council looks to fix duty structure, boost revenues

September 20, 2021 5:36 am

The decision on inverted duty structure was deferred in June last year as the Council did not agree on the timing of the rate rationalisation to be done during the pandemic.

Not the right time to bring petrol, diesel products under GST: Nirmala Sitharaman

September 17, 2021 10:41 pm

The Council, which comprises the Union finance minister and her state counterparts, decided to continue keeping petrol and diesel out of the GST purview as subsuming the current excise duty and VAT into one national rate would impact revenues.

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