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Tag "gst"

Three-tier GST rate structure likely by next fiscal

Three-tier GST rate structure likely by next fiscal

🕔15:33, 3.Oct 2021

New Delhi, Oct 3 (IANS) The next few meetings of the GST Council would take the country’s new indirect tax regime closer to the goal of providing a transparent tax system with minimal exemptions and fewer rates. Sources working on the

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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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Govt mulls centralised AAR system to prevent contradictory rulings

Govt mulls centralised AAR system to prevent contradictory rulings

🕔21:34, 7.Sep 2021

New Delhi, Sep 7  The Centre proposes to revamp the advance ruling mechanism under the GST by setting up a centralised authority to address the issue of contradictory orders passed by the Authority for Advance Rulings (AAR) in different states.

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Govt extends deadline for availing GST amnesty scheme

Govt extends deadline for availing GST amnesty scheme

🕔07:45, 30.Aug 2021

New Delhi, Aug 30  The Finance Ministry has extended the last date to avail of the late fee amnesty scheme under Goods and Services Act (GST), till November 30. The scheme was due to expire on August 31. The government

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‘SC order on limitations of timeline applicable only on appeals by taxpayers in GST matters’

‘SC order on limitations of timeline applicable only on appeals by taxpayers in GST matters’

🕔18:15, 21.Jul 2021

New Delhi, July 21  The Central Board of Indirect Taxes and Customs (CBIC) has clarified that extension of time limit for tax-related matters as per recent Supreme Court order is restricted only to quasi-judicial and judicial matters relating to petitions,

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Airbus India put under 18% GST for services supply to French parent

Airbus India put under 18% GST for services supply to French parent

🕔07:30, 10.Jul 2021

New Delhi, July 10  The Indian operations of French aviation giant Airbus involving procurement of raw material from local vendors and facilitating supply abroad are ‘intermediary services’ and hence liable to 18 per cent GST, an authority of advance ruling

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Pandemic disruptions push June GST collection below Rs 1 lakh cr, first time in 9 months

Pandemic disruptions push June GST collection below Rs 1 lakh cr, first time in 9 months

🕔16:10, 6.Jul 2021

New Delhi, July 6  India’s gross GST revenue collection fell below the psychological mark of Rs 1 lakh crore for the first time this year, clocking Rs 92,849 crore in June 2021, as collections fell due to disruptions caused by

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High GST collection shows resilience of Indian economy: Anurag Thakur

High GST collection shows resilience of Indian economy: Anurag Thakur

🕔15:41, 1.Jul 2021

New Delhi, July 1  Minister of State for Finance and Corporate Affairs Anurag Thakur said that the record high GST collections in the past few months despite the pandemic show India’s economic resilience and the sincerity of businesses towards nation

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Taxmen to honour honest taxpayers for valuable contribution in GST success

Taxmen to honour honest taxpayers for valuable contribution in GST success

🕔08:15, 1.Jul 2021

New Delhi, July 01  The Central Board of Indirect Taxes and Customs (CBIC) will honour taxpayers who have been a part of the GST success story on the eve of completion of four years of indirect tax reforms. The board

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PM lauds GST on its completion of 4 years

PM lauds GST on its completion of 4 years

🕔07:30, 1.Jul 2021

The Prime Minister, Narendra Modi has lauded GST on its completion of 4 years and said it has been a milestone in the economic landscape of India. In a tweet, the Prime Minister said, “GST has been a milestone in

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GST officials asked to ensure consumers benefit from rate cut of Covid-related items

GST officials asked to ensure consumers benefit from rate cut of Covid-related items

🕔07:35, 25.Jun 2021

New Delhi, June 25  The National Anti-Profiteering Authority (NAA) has directed GST officials to ensure that the reduced tax rates on Covid-related items are passed on to the consumers. In an office memorandum, NAA said that the supplies are required

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GST Council sets up GoM on capacity based taxation, special composition schemes

GST Council sets up GoM on capacity based taxation, special composition schemes

🕔19:13, 26.May 2021

New Delhi, May 26  The Goods and Service Tax Council has constituted a group of ministers (GoM) to examine the possibility of levy of GST based on capacity of manufacturing units and special composition schemes in certain evasion prone sectors

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Food supplies to ITIs akin to mid-day meal to schools, so GST exempt

Food supplies to ITIs akin to mid-day meal to schools, so GST exempt

🕔18:25, 20.May 2021

New Delhi, May 20  The supply of food items under government schemes to Industrial training institutes (ITI) will be treated at par with supply of mid-day meals to schools and not attract GST. In a ruling, the Authority for Advance

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Credit card expenses by Indian subsidiary of a multinational corporation liable to GST

Credit card expenses by Indian subsidiary of a multinational corporation liable to GST

🕔17:11, 17.May 2021

New Delhi, May 17  Credit card expenses made by employees of an Indian subsidiary for furtherance of business here would come under the purview of Goods and Service Tax (GST) with applicable 18 per cent rate. According to a recent

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Govt gives ad hoc IGST exemption on imports of Covid relief material

Govt gives ad hoc IGST exemption on imports of Covid relief material

🕔17:28, 3.May 2021

New Delhi, May 3  In view of the coronavirus pandemic, the Central Government has exempted IGST or integrated GST on import of such goods received free of cost for free distribution of Covid relief. The exemption is ad hoc and

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Power under GST law to order provisional attachment ‘draconian’: SC

Power under GST law to order provisional attachment ‘draconian’: SC

🕔21:22, 20.Apr 2021

New Delhi, April 20  The Supreme Court on Tuesday said the rule of law in a constitutional framework is fulfilled when law is substantively fair, procedurally fair and applied in a fair manner, as it held that the power to

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GST should be citizen-friendly, provisional attachment draconian: SC

GST should be citizen-friendly, provisional attachment draconian: SC

🕔17:31, 7.Apr 2021

New Delhi, April 7  The Supreme Court on Wednesday said the taxman cannot see all businesses as fraudulent, as it made sharp observations against the manner in which Goods and Services Tax was implemented by tax authorities. A bench comprising

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Stock brokers not to pay GST on delayed payment charges from clients

Stock brokers not to pay GST on delayed payment charges from clients

🕔21:07, 25.Mar 2021

New Delhi, March 25  In what may give a fillip to stock broking activity, an appellate authority has exempted stock brokers buying or selling shares for clients from payment of GST on delayed payment charges. The Appellate Authority for Advance

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Consumers look for alternative fuels amid rising petrol/diesel prices: At almost 40% cheaper than petrol, Auto LPG holds much promise

Consumers look for alternative fuels amid rising petrol/diesel prices: At almost 40% cheaper than petrol, Auto LPG holds much promise

🕔12:34, 10.Mar 2021

Auto LPG is environment-friendly and 40% cheaper than petrol in running costs   Consumers can easily convert their vehicles to Auto LPG by installing conversion kits and stand to save significant amounts on fuel bills   Govt must reduce the

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Petrol at Rs 75 and diesel Rs 68 a litre in FY22 if taxation shifts to GST: SBI Ecowrap

Petrol at Rs 75 and diesel Rs 68 a litre in FY22 if taxation shifts to GST: SBI Ecowrap

🕔06:52, 5.Mar 2021

New Delhi, March 5  Consumers can be spared from a rally in retail prices of petrol and diesel if the two auto fuels are brought under the GST regime, but lack of political will and hesitancy to let go a

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