Goods And Services Tax

Wednesday, Apr 24, 2024 | Last Update : 08:25 AM IST

Union Finance and Corporate Affairs Minister Nirmala Sitharaman addresses a press conference. (File Photo: PTI)

Parsa Venkateshwar Rao Jr | Slow economic growth a major challenge for govt

The MPC statement shows that inflation remains an issue of concern, something that the FM refused to take into account in her Budget

22 Feb 2023 12:05 AM

A pump attendant fills petrol in a vehicle at a refilling station. (PTI file photo)

AA Edit | Time to bring petroleum products under GST ambit

The GST must expand its horizon and include petroleum products, but the issue has several contentious sides

21 Feb 2023 12:10 AM

The Indian economy might have been caught in the tailwinds, but the truth is PM Modi’s view seems to have been proven right, against those of most global experts. (Representational Image)

AA Edit | Indian economy looking up, but joblessness a big worry

The economy today is strong, healthy and looking upwards

03 Jan 2023 12:05 AM

GST collection had remained above the Rs 1 lakh crore mark for eight months in a row and was Rs 1.02 lakh crore in May. (ANI File)

GST revenue slips below Rs 1 lakh cr in June, hits 10-mth low of Rs 92,849 crore

The GST collections in June 2021 are primarily for supplies made in May, a month when most states were under different levels of lockdown

06 Jul 2021 5:45 PM

More than 66 crore GST returns have been filed so far and lower rates have helped increased tax compliance, the ministry said. (ANI File Photo)

GST 4th anniversary: FinMin to issue appreciation certificates to 54,439 GST payers

The Central Board of Indirect Taxes and Customs (CBIC) will be issuing certificates of appreciation to these taxpayers

30 Jun 2021 7:34 PM

GST collections in June at Rs 90,917 crore. (PTI Phoṭo)

GST revenue collection for June stands at Rs 90,917 crore

Government allowed a relaxed time schedule for filing of GST returns. Returns of the month of April, March and February filed in June

01 Jul 2020 2:13 PM

government has extended the last date for filing annual GST return for the financial year 2018-19 by three months till September . (PTI Photo)

Date for filing GST return extended to September 30

A notification has been issued to extend the time limit for furnishing of annual (goods and services tax) return

07 May 2020 1:18 PM

Similarly, a number of structural reforms have been taken in recent years which include demonetisation, implementation of the Goods and Services Tax (GST), banking policies etc. which will need time to yield results. The recent performance of some sectors has shown optimism.

Economic Revival: People look for growth-oriented budget

In the case of house rent, there is a TDS of 10 per cent on rental income by owners of houses for rents of `20,000 per month and above.

05 Jan 2020 3:36 AM

Officials will examine the processes designed to give the due role to collating and combined study of data from third parties like banks and IFU-India.

Officials to meet on Jan 7 for streamlining GST refunds, curbing evasion

The discussions will focus on a road ahead for e-invoicing, new return system and feedback, e-way bill linking with Fastag.

03 Jan 2020 1:22 PM

The Council also rationalised tax rate on woven and non-woven bags to 18 per cent. (Photo: DC)

GST Council fixes 28 per cent uniform tax rate for lottery

The panel also relaxed levy of penalty for non-filing of GSTR-1 from July 2017.

19 Dec 2019 9:17 AM

In the meeting, the GST target was set at Rs 1.10 lakh crore every month between December 2019 and March 2020. Of these four months, Rs 1.25 lakh collections has to be achieved in at least one month, the sources said.

Govt sets Rs 1.1 lakh cr monthly GST collection target; asks taxmen to buckle up

Taxmen were told that both the GST and Rs 13.35 lakh crore target for direct taxes for 2019-20 will have to be achieved.

17 Dec 2019 5:43 PM

This is regarding the fact that the estimate was done by NCAER (National Council of Applied Economic Research) for the ninth Finance Commission for terminal ideal GST, whereas GST -- which is work in progress - may take 20 years. It is not that you are going to get 1.5-2 per cent (additional) GDP growth overnight, said Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister. (Photo: File)

Impact of GST will take time to show results: Bibek Debroy

Collections under the GST, which was introduced in July 2017, has remained mostly below the target.

17 Dec 2019 12:07 PM

I admit that the payments which had to go the compensation head have not been given for two months slot, FM Nirmala Sitharaman said. (Photo: File)

Centre will not renege on GST compensations: Sitharaman

The delays to pass on the money are due to a slip in collections and the states have nothing to worry, said FM Nirmala Sitharaman.

16 Dec 2019 4:31 PM

Maharashtra requests Rs 15,000 crore in dues

As per the Union Budget 2019-2020, the tax devolution to Maharashtra is Rs 46,630.66 crore, which is 11.15 per cent.

12 Dec 2019 2:21 AM

The promise to compensate the states was made by India’s sovereign entity and should be held sacrosanct under all circumstances — only then will people and businesses have faith in the government. Nevertheless, the Narendra Modi government appears to be keen to renege on its promise on the pretext of lower indirect tax collections, which plummeted below Rs 1 lakh crore in three of the last four months. (Photo: Twitter/ ANI)

Keep promises to states

It will kill the concept of cooperative federalism that he claimed to espouse since he came to power in 2014.

06 Dec 2019 2:53 AM

The GST Council will deliberate on the matter of GST compensation at its meeting on December 18.

GST Council to review revenue position, compensation cess on Dec 18

The meeting of all-powerful GST Council is going to be held against the backdrop of lower-than-expected GST collection.

04 Dec 2019 6:53 PM

GST revenues witnessed an impressive recovery with a positive growth of 6 per cent in November 2019 over November 2018 collections, an official statement said.

GST revenue grows 6 per cent, crosses Rs 1 lakh cr in November

According to official sources, the number reflects pick up in consumption and improvement in compliance as well.

01 Dec 2019 4:56 PM

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)

Financial crunch due to Centre's failure to release GST dues

The Centre has also reduced the credit limit of the state by almost Rs 6000 crore.

19 Nov 2019 5:36 PM

Though the tax structure has tried to solve major issues relating to the taxing in India, the reform has many challenges.

GST structure: key challenges and its solutions

Govt on several occasions has given clarifications to reduce ambiguities and make the process smooth and easy.

19 Nov 2019 11:07 AM

The dates for filing the reconciliation statement has also been extended accordingly.

Deadline for filing GST annual returns extended; forms simplified

The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019.

14 Nov 2019 5:01 PM

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Sanjeev Ahluwalia