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New sanitiser makers face action for GST evasion

New sanitiser makers face action for GST evasion

🕔17:49, 8.Jul 2020

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

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GST liable on IT consulting services to firms having foreign client

GST liable on IT consulting services to firms having foreign client

🕔17:41, 5.Jul 2020

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

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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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Bring petroleum, real restate under GST, urges Assocham

Bring petroleum, real restate under GST, urges Assocham

🕔07:10, 1.Jul 2020

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

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Govt offers filing of NIL GST statement in form GSTR-1 through SMS

Govt offers filing of NIL GST statement in form GSTR-1 through SMS

🕔10:53, 28.Jun 2020

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

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Interest on PPF, savings bank included for calculating GST threshold: AAR

Interest on PPF, savings bank included for calculating GST threshold: AAR

🕔18:03, 23.Jun 2020

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.

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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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No GST exemption to help businesses fight Covid-19 disruptions

No GST exemption to help businesses fight Covid-19 disruptions

🕔12:08, 24.May 2020

New Delhi, May 24  The Finance Ministry has ruled out GST waiver or deference to businesses as part of the economic relief package to help them cope with the situation arising in the wake of Covid-19 pandemic and the resultant

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Over 10,000 new registrations during lockdown: GSTN

Over 10,000 new registrations during lockdown: GSTN

🕔15:01, 5.Apr 2020

New Delhi, April 5  The Goods and Services Tax Network (GSTN) on Sunday said that tax officials have processed around 10,077 cases of new registration during the first 10 days of the nationwide lockdown, from March 25 to April 3.

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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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Odisha records 11% growth in GST collection

Odisha records 11% growth in GST collection

🕔10:10, 4.Mar 2020

Bhubaneswar, March 4  Odisha has recorded a growth of 11 per cent in the collection of gross Goods and Services Tax (GST) during the period from April 2019 to February 2020, a statement said on Tuesday. The state has made

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GST credit against excise duty on petroleum products

GST credit against excise duty on petroleum products

🕔19:09, 24.Jan 2020

New Delhi, Jan 24 In a big relief to the oil sector, government may allow producers of petroleum and natural gas to claim credit for GST on all inputs, input services and capital goods being paid by them even though

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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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GST collection up 6% in Nov, crosses Rs 1 lakh cr mark

GST collection up 6% in Nov, crosses Rs 1 lakh cr mark

🕔16:48, 1.Dec 2019

New Delhi, Dec 1 Festive season demand helped the government collect Rs 1.03 lakh crore in goods and services tax (GST) in the month of November, up 6 per cent over the same month last year. The positive growth, a

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‘Howdy, Modi’: PM talks of $5 tn economy, low-cost data, GST

‘Howdy, Modi’: PM talks of $5 tn economy, low-cost data, GST

🕔12:13, 23.Sep 2019

Houston, Sep 23  Describing the changing scenario of the Indian economy and the targets set by the government at the ‘Howdy, Modi!’ event here on Sunday, Prime Minister Narendra Modi spoke of cheap data prices in the country, the Goods

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Tax issues: Communication gap between Centre and officials

Tax issues: Communication gap between Centre and officials

🕔10:29, 19.Aug 2019

New Delhi, Aug 19  Even as the government tries to ease the ‘tax concerns’ of corporates, the bureaucracy still seems to be stuck in its old ways. Although the Prime Minister and the Finance Minister have recently observed that unnecessary

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GST Council slashes tax on EVs and EV chargers

GST Council slashes tax on EVs and EV chargers

🕔13:20, 27.Jul 2019

New Delhi, July 27  Close on the heels of Union Budget providing tax relief for buying electric vehicles (EVs), the GST Council in its 36th meeting on Saturday cut the tax on electric vehicles from 12 per cent to 5

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Union Budget 2019-20 : Taxation Proposal

Union Budget 2019-20 : Taxation Proposal

🕔13:37, 5.Jul 2019

By TN Ashok Income tax exemption limit raised to  : Rs. 5 lakhs from Rs 3 lakhs Due to slew of efforts taken by government i the last five years direct taxes have grown by 78% from rs 6.38 lakhs

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Streamlining GST should be government’s key focus

Streamlining GST should be government’s key focus

🕔13:23, 4.Jul 2019

In the context of the Union Budget, we need to analyse what big-ticket items have been missed since the introduction of GST. Potential micro-level changes needed to improve the efficacies of the historic tax initiative also need to be examined.

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