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Tag "goods and services tax"

GST collection rises 28% in August: Here’s what experts say

GST collection rises 28% in August: Here’s what experts say

🕔17:46, 1.Sep 2022

Mumbai, Sep 1 (IANS) Goods and Services Tax (GST) collection in August rose 28 per cent to Rs 1.43 lakh crore, with monthly GST revenue remaining more than Rs 1.4 lakh crore for six months in a row, the Finance Ministry

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GST on rent for business entities, govt clarifies not for private use

GST on rent for business entities, govt clarifies not for private use

🕔18:04, 12.Aug 2022

The Centre on Friday issued a clarification regarding GST on house rent, noting renting of a residential unit is taxable only when it is given to a business entity. New Delhi, Aug 12 The Centre on Friday issued a clarification

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GoM on GST Appellate Tribunal set up

GoM on GST Appellate Tribunal set up

🕔05:40, 12.Jul 2022

New Delhi, July 12 (IANS) The Goods and Services Tax (GST) Council has set up a six-member group of ministers (GoM) to recommend necessary amendments required in the GST laws and other legal changes for setting up the GST Appellate Tribunal

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TN to host GST Council meeting in August: Sitharaman

TN to host GST Council meeting in August: Sitharaman

🕔18:07, 29.Jun 2022

The next Goods and Services Tax (GST) Council meeting will be held in Tamil Nadu’s Madurai in August, Union Finance Minister Nirmala Sitharaman said on Wednesday. Chandigarh, June 29 (IANS) The next Goods and Services Tax (GST) Council meeting will be

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GST collection touches all-time high in April at Rs 1.68 lakh cr

GST collection touches all-time high in April at Rs 1.68 lakh cr

🕔19:33, 1.May 2022

New Delhi, May 1 (IANS) The monthly collection under the Goods and Services Tax (GST) has touched a record high of Rs 1.68 lakh crore in April 2022, data showed. The gross GST collection has crossed the Rs 1.5 lakh crore-mark

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‘Reduce GST as beedis exported to Europe, Gulf and US’

‘Reduce GST as beedis exported to Europe, Gulf and US’

🕔16:04, 23.Feb 2022

Chennai, Feb 23 (IANS) Indian beedis are being exported to various countries, said officials at a panel discussion and therefore on the need to reduce the Goods and Services Tax (GST) tax rate on the product from 28 per cent. Industry

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‘GST collection growth mainly due to hike in input prices’

‘GST collection growth mainly due to hike in input prices’

🕔08:43, 3.Nov 2021

Chennai, Nov 3 (IANS) The drastic increase in raw material prices seems to have contributed to the jump in Goods and Services Tax (GST) collections in October 2021 than the real growth in the economy, an official of Consortium of Indian

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GST Council meeting in Lucknow on Friday

GST Council meeting in Lucknow on Friday

🕔11:51, 16.Sep 2021

Lucknow, Sep 16  Union Finance Minister Nirmala Sitharaman will preside over the 45th meeting of the Goods and Services Tax (GST) Council in Lucknow on Friday. During the meeting in Lucknow, the GST Council is scheduled to discuss a number

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Centre-states may discuss early inclusion of natural gas into GST fold

Centre-states may discuss early inclusion of natural gas into GST fold

🕔14:00, 8.Sep 2021

New Delhi, Sep 8  With GST revenue collections making a rebound post the disruptions caused by the second wave of Covid pandemic, the Centre is likely to initiate dialogue with states for inclusion of petroleum products under the new indirect

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Companies have to pay GST on remuneration of Independent Directors

Companies have to pay GST on remuneration of Independent Directors

🕔07:05, 22.Jan 2021

New Delhi, Jan 22  A company is liable to pay Goods and Services Tax (GST) on remunerations paid to Independent Directors on a reverse charge basis. The Rajasthan Appellate Authority on Advance Ruling (AAR) has also clarified that the parts

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Dec GST collection hits record high, crosses Rs 1.15 lakh cr

Dec GST collection hits record high, crosses Rs 1.15 lakh cr

🕔15:17, 1.Jan 2021

New Delhi, Jan 1  The gross Goods and Services Tax (GST) revenue collected in December 2020 reached a record high of over Rs 1.15 lakh crore. Out of the total GST revenue collection of Rs 1,15,174 crore, Central GST (CGST)

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Will take up GST cut demand with FM, PM: Javadekar

Will take up GST cut demand with FM, PM: Javadekar

🕔13:41, 4.Sep 2020

New Delhi, Sep 4  Union Minister Prakash Javadekar on Friday assured the automobile industry that he will take up its demand for a cut in the Goods and Services Tax (GST) with the Union Finance Minister and the Prime Minister.

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Covid Impact: GST collection drops 12% to Rs 86,449 cr in Aug

Covid Impact: GST collection drops 12% to Rs 86,449 cr in Aug

🕔08:10, 2.Sep 2020

New Delhi, Sep 2  The Covid-19-induced shrinking of economic activity for the past few months has continued to have an impact on the government’s tax collections with revenue under the Goods and Services Tax (GST) falling far below the psychological

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Independent regulator needed for targeted public investment: RBI

Independent regulator needed for targeted public investment: RBI

🕔17:24, 25.Aug 2020

Mumbai, Aug 25  The Reserve Bank of India has called for setting up an independent regulator for targeted public investment to revive and crowd in private investment. In its Annual Report 2019-20, it said that targeted public investment funded by

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Evolving taxation: Weighted GST rate declines to 11.6% since inception

Evolving taxation: Weighted GST rate declines to 11.6% since inception

🕔17:49, 24.Aug 2020

New Delhi, Aug 24  The Goods and Services Tax (GST), often hailed as the “biggest tax reform” in India, has evolved over the years, and the weighted rate of GST has declined in the past few years to 11.6 per

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GST collection drops 9% to Rs 90,917 cr in June

GST collection drops 9% to Rs 90,917 cr in June

🕔17:30, 1.Jul 2020

New Delhi, July 1  The COVID-19 induced shrinking of economic activity for past few months has continued to have its impact on government’s tax collections with revenue under the Goods and Services Tax (GST) falling far below the psychological level

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Govt releases Rs 36,400 cr as GST compensation to states for Covid-19 expenditure

Govt releases Rs 36,400 cr as GST compensation to states for Covid-19 expenditure

🕔07:15, 5.Jun 2020

New Delhi, June 5  In a bid to provide further relief to states amid the coronavirus outbreak, the finance ministry has released Rs 36,400 crore to states as compensation for their revenue loss in the goods and services tax (GST)

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GST collections dip to Rs 97,597 crore in March

GST collections dip to Rs 97,597 crore in March

🕔07:05, 2.Apr 2020

New Delhi, April 2  The sluggishness in the economy for the past few months has begun reflecting in the tax collections with the Goods and Services Tax (GST) mop-up breaching the psychological Rs 1 lakh crore level to Rs 97,597

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GST on mobile phones raised to 18%, rates on MRO services cut to 5%

GST on mobile phones raised to 18%, rates on MRO services cut to 5%

🕔09:42, 15.Mar 2020

New Delhi, March 14 The GST Council chaired by Finance Minister Nirmala Sitharaman on Saturday decided to raise rates on mobile phones to 18 per cent from 12 per cent now stating that the move would correct the inverted duty

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Govt firms up plan to tighten screw on GST evaders

Govt firms up plan to tighten screw on GST evaders

🕔18:09, 7.Jan 2020

New Delhi, Jan 7 (IANS) With the narrative shifting from rate increase to tightening the GST system, the government has finalised a slew of measures to curb evasion, including investigation of major fraud cases by Income Tax department (I-T) and frequent

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