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GST hike deferment, PLI make textile stocks’ attractive, several Cos shares double

GST hike deferment, PLI make textile stocks’ attractive, several Cos shares double

🕔18:00, 18.Jan 2022

New Delhi, Jan 18 (IANS) Shares in textile business have witnessed a consistent uptick in the recent months due to various policy measures and on hopes of a firm outlook for the sector going ahead. Besides, the GST council’s recent move

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Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

Dec YoY GST collection rises 13% to over Rs 1.29 lakh crore

🕔19:28, 1.Jan 2022

New Delhi, Jan 1 (IANS) India’s GST collection rose 13 per cent in December 2021 on a year-on-year basis to Rs 1,29,780 crore. However, December’s collections declined on a sequential basis from Rs 1,31,526 crore reported for November. “The revenues for

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The Government has lowered Goods and Services Tax rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol (EBP) Programme

The Government has lowered Goods and Services Tax rate to 5% from 18% on ethanol meant for blending under the Ethanol Blended Petrol (EBP) Programme

🕔16:49, 16.Dec 2021

New Delhi, Dec 16: The Minister of State for Petroleum and Natural Gas, Rameswar Teli in a written reply to a question in the Lok Sabha today informed that in order to promote ethanol blending, the Government has lowered Goods

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Odisha records 64% growth in GST collection in Nov

Odisha records 64% growth in GST collection in Nov

🕔07:37, 3.Dec 2021

Bhubaneswar, Dec 3 (IANS) Odisha has recorded 64 per cent growth in GST collection in November compared to the same month of the last fiscal, officials said on Thursday. The state has collected GST of Rs 4,136 crore last month as

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Nov GST collection rises to over Rs 1.31 lakh Cr

Nov GST collection rises to over Rs 1.31 lakh Cr

🕔17:17, 1.Dec 2021

New Delhi, Dec 1 (IANS) India’s GST collection rose on both sequential and year-on-year basis in November. Accordingly, the gross GST collection rose to Rs 1,31,526 crore last month. This was the second straight month when the gross GST collection crossed

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CGST officials unearth Rs 34 cr input tax credit fraud involving 7 firms

CGST officials unearth Rs 34 cr input tax credit fraud involving 7 firms

🕔07:16, 15.Nov 2021

New Delhi, Nov 15 (IANS) Based upon specific intelligence, officers of the Anti Evasion Branch of Central Goods and Service Tax (CGST) Commissionerate, Delhi (East) have unearthed a case of availment/utilisation and passing on of inadmissible input tax credit (ITC), through

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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 collection for Oct at over Rs 1.30 lakh cr

GST collection for Oct at over Rs 1.30 lakh cr

🕔15:51, 1.Nov 2021

New Delhi, Nov 1 (IANS) The GST collection of the government maintained its momentum this fiscal year despite Covid disruption as a pickup in economic recovery is shoring up corporate earnings. The gross GST revenue collected in the month of October

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Service rendered by govt, not its agency, only exempt from GST

Service rendered by govt, not its agency, only exempt from GST

🕔06:30, 25.Oct 2021

New Delhi, Oct 25 (IANS) Private and public sector agencies providing goods and services and collecting charges from clients on behalf of the government will not be exempt from paying GST and have to pay the tax at applicable rates, the

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Multiple rates, applications make GST more complicated, Revenue Dept pushed to issue clarifications

Multiple rates, applications make GST more complicated, Revenue Dept pushed to issue clarifications

🕔06:44, 18.Oct 2021

New Delhi, Oct 17  Cloud kitchens are restaurants, ice cream parlours are not. Alcoholic beverage is not food or a food products. Mineral rights are taxable but the question remains whether these should be taxable at all. The GST regime

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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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