Back to homepage

Tag "gst"

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

Read Full Article
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

Read Full Article
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

Read Full Article
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

Read Full Article
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

Read Full Article
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

Read Full Article
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

Read Full Article
GST compensation shortfall released to states reaches Rs 1.04L cr

GST compensation shortfall released to states reaches Rs 1.04L cr

🕔07:21, 2.Mar 2021

New Delhi, March 2  Finance Ministry has released the 18th weekly instalment of Rs 4,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 3,677.74 crore has been released to 23 States

Read Full Article
GST compensation shortfall released to states touches Rs 1L Cr

GST compensation shortfall released to states touches Rs 1L Cr

🕔14:31, 20.Feb 2021

New Delhi, Feb 20  The Finance Ministry had released the 17th weekly instalment of Rs 5,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 4,730.41 crore has been released to 23

Read Full Article
Rs 5,000 cr more sent to states for meeting GST compensation shortfall

Rs 5,000 cr more sent to states for meeting GST compensation shortfall

🕔07:18, 16.Feb 2021

New Delhi, Feb 16  The Ministry of Finance on Monday released the 16th weekly instalment of Rs 5,000 crore to the states to meet the GST compensation shortfall. Out of this, an amount of Rs 4,597.16 crore has been released

Read Full Article
SCAI seeks financial waiver, easing of IT norms in budget

SCAI seeks financial waiver, easing of IT norms in budget

🕔07:19, 29.Jan 2021

New Delhi, Jan 29  The Shopping Centres Association of India (SCAI) has sought financial waivers, a loan moratorium for the sector along with easing of income tax norms in the upcoming Union Budget. In its budget recommendations, the industry body

Read Full Article
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

Read Full Article
Government to publicise 42 reforms it has brought

Government to publicise 42 reforms it has brought

🕔09:56, 9.Jan 2021

New Delhi, Jan 9  The Narendra Modi government has come up with a list of 42 big reforms or initiatives it has brought after coming to power in 2014 for the betterment of the country. The government has decided to

Read Full Article
CAIT urges FM to defer implementation of ‘Rule 86-B’ in GST

CAIT urges FM to defer implementation of ‘Rule 86-B’ in GST

🕔17:22, 26.Dec 2020

New Delhi, Dec 26 Traders’ body Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to defer the implementation of ‘Rule 86-B’ in GST, scheduled to be implemented from January 1, 2021. In a letter to the Finance

Read Full Article
Payment of 1% GST in cash only for 45,000 taxpayers: DoR sources

Payment of 1% GST in cash only for 45,000 taxpayers: DoR sources

🕔17:18, 26.Dec 2020

New Delhi, Dec 26  The government’s decision on mandatory payment of at least 1 per cent of GST tax liability in cash will impact only around 40,000 to 45,000 taxpayers but help the entire system curb the menace of fake

Read Full Article
EEPC India seeks easier GST refund rules at BoT meet

EEPC India seeks easier GST refund rules at BoT meet

🕔07:03, 3.Dec 2020

New Delhi, Dec 3  EEPC India on Wednesday sought easing of GST refund rules to reduce difficulties faced by engineering exporters in the midst of the Covid-19 pandemic. The engineering exporters body brought out the issue of procedural bottlenecks that

Read Full Article
P&G companies fined Rs 241 cr for not passing on GST cut benefits

P&G companies fined Rs 241 cr for not passing on GST cut benefits

🕔21:26, 26.Nov 2020

New Delhi, Nov 26  The National Anti-Profiteering Authority (NAA) has imposed a fine of over Rs 241.5 crore on P&G Home Products, P&G Hygiene and Healthcare and Gillette India Ltd for not passing on benefits of GST rate cut to

Read Full Article
Gas, ATF may come into GST fold ahead of other petro products

Gas, ATF may come into GST fold ahead of other petro products

🕔06:59, 4.Nov 2020

New Delhi, Nov 4  At least two out of the five petroleum products, including aviation turbine fuel or ATF and natural gas, are likely to be among the first set of petro products to be included in the Goods and

Read Full Article
GST collections in Oct may cross Rs 1 lakh cr mark for first time in FY21

GST collections in Oct may cross Rs 1 lakh cr mark for first time in FY21

🕔07:27, 27.Oct 2020

New Delhi, Oct 27  In a sign that economic revival is getting more pronounced in the unlock phases, country’s goods and service tax (GST) collections set to cross the Rs 1 lakh crore mark for the first time during this

Read Full Article
Karnataka appellate authority rules 18% GST on whole wheat ‘parota’ is void

Karnataka appellate authority rules 18% GST on whole wheat ‘parota’ is void

🕔14:12, 5.Oct 2020

New Delhi, Oct 5  The Karnataka Appellate Authority of Advance Ruling (AAAR) has given a ruling that the 18 per cent Good and Services Tax (GST) applicable on whole wheat parantha or parota (fried flat bread) and Malabar Parota is

Read Full Article