New Delhi, Sep 19 The net direct tax collection in April-August period of the current fiscal was 31.1 per cent lower on year-on-year (YoY) basis at over Rs 1.92 lakh crore, according to data provided by Minister of State for
New Delhi, Sep 16 Engineering export body EEPC India on Wednesday said that pending GST refunds along with MEIS dues are hurting exporters. According to EEPC India, besides fighting a battle for survival in the Covid-19 hit global market, exporters
New Delhi, Sep 8 The Centre has reached out to the states again clarifying that it would pay entire GST compensation dues to them amid the mounting opposition over the borrowing options proposed in lieu of the shortfall in indirect
New Delhi, Sep 3 N.K. Singh, the Chairman of the 15th Finance Commission, along with the other members, will hold a day-long meeting with the Economic Advisory Council of the commission on Friday. An official statement on Thursday said that
Raipur, Sep 3 Chhattisgarh recorded a 6 percent higher collection of Goods and Services Tax (GST) in August this year, compared to the same month last year. The state’s GST collection was Rs 1,873 crore last year, which rose to
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
New Delhi, Aug 31 As several states continue to oppose the borrowing options proposed in lieu of the GST compensation, the Centre has told states that central revenues have been under greater strain compared to GST revenue. In a letter
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
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
New Delhi, Aug 18 The Directorate General of GST Intelligence (DGGI) has issued guidelines, which seek to soften the impact of investigations and ensure that no excesses are committed that include minimal personal summons, no repeated summons and generally not
New Delhi, July 28 In a bid to provide further relief to states amid the coronavirus outbreak, the Finance Ministry has released Rs 13,806 crore as compensation for March 2020 for the states’ revenue loss in the goods and services
New Delhi, July 17 Government crackdown on tax defaulters has revealed shocking data as a total of 1,377 exporters who have fraudulently claimed IGST refund amounting to Rs 1,875 crore have been found untraceable at their principle place of business.
New Delhi, July 15 Amid the ongoing debate over goods and services tax (GST) rate on hand sanitisers, the government on Wednesday clarified alcohol-based hand sanitisers will continue to be levied at the standard rate of 18 per cent as
New Delhi, July 8 The urgent requirement for alcohol-based hand sanitisers amid the Covid-19 pandemic enthused many firms, including sugar mills and alcohol producers, to jump on the bandwagon. But, it seems, some evaded duties worth crores of rupee by
New Delhi, July 5 Software consultancy services provided by an IT company under a contract to a company which has foreign clients is liable to pay Goods and Services Tax (GST). In a recent order, Tamil Nadu Authority for Advance Rulings
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
New Delhi, July 01 Industry body Assocham on Tuesday called for bringing petroleum products and real estate under the ambit of the Goods and Services Tax (GST). According to Assocham’s Secretary General Deepak Sood, states must be brought on board
New Delhi, June 28 In a major move towards taxpayer facilitation, the government on Saturday allowed SMS filing of NIL GST statement in GSTR-1 form with effect from the first week of July. This would substantially improve ease of GST
New Delhi, June 23 The value of exempted income sources, like interest on PPF, savings bank account and loans given to family and friends, will be included along with taxable supplies while calculating the threshold limit for obtaining GST registration.
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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