Goods And Services Tax | The Asian Age

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The GST not just made India one market by levying uniform tax rates on goods and services, it also did away with tax-on-tax prevalent in the previous system.

GST regime led to better savings as tax rates came down

GST rates have been lowered on an array of commonly used goods and services which resulted in monthly savings for consumers.

17 Dec 2018 10:16 AM

Tax experts expect reduction in rates on some items besides easing of various procedures for trade and industry.

GST on ACs, colour TVs to be cut to 18 per cent

The council headed by finance minister Arun Jaitley is expected to take up the issue on December 22.

10 Dec 2018 10:19 AM

According to the CGST Act, the notified entities are required to collect TDS at 1 pc on payments to goods or services suppliers in excess of Rs 2.5 lakh.

Govt extends deadline for filing TDS returns for Oct-Dec to Jan 2019

The TDS provisions under the goods and services tax (GST) were brought into effect from October 1, 2018.

30 Nov 2018 4:43 PM

Under GST, the tax levied on consumption of goods or rendering of service is split 50:50 between the centre and the state.

Centre, states apportion Rs 33,000 crore IGST in November

The finance ministry has targeted monthly GST collections to be Rs 1 lakh crore for this fiscal.

30 Nov 2018 2:46 PM

The non-tax revenue is also expected to be lower by Rs 16,200 crore than the budget estimate of Rs 2.45 lakh crore.

Dip in revenues may widen fiscal gap to 3.5 per cent in FY19: report

Total revenues and expenditure of the govt, will come at Rs 6.67 lakh cr as against the budgeted Rs 6.24 lakh cr.

26 Nov 2018 2:16 PM

Of the total recovery, Rs 3,124 crore was from GST evaders, followed by Rs 2,174 crore in case of service tax.

Rs 29,088 crore indirect tax evasion detected during April-Oct

The total number of cases where service tax was evaded stood at 1,145 involving Rs 22,973 crore.

21 Nov 2018 3:36 PM

As much as Rs 3,096 crore worth of IGST refund claims are held up on account of various deficiencies.

Rs 82,775 cr GST refunds to exporters done; Rs 5,400 cr is pending

The disposal rate of GST refunds is 93.8 per cent as on October 31.

10 Nov 2018 10:59 AM

The success of GST is lower rates, lesser evasion, higher compliance, only one tax and negligible interference by taxation authorities.

GST collections cross Rs 1 lakh crore in October

The revenue from goods and services tax (GST) in September was Rs 94,442 crore.

01 Nov 2018 1:00 PM

The sole exception was the month of April in which the numbers exceeded Rs 1 lakh crore.

Centre, states apportion Rs 32,000 crore IGST in October

The total revenue collection figures for the month would be released on November 1.

30 Oct 2018 3:07 PM

Finance Minister Arun Jaitley. (Photo: PTI)

GST council met 30 times, took 918 decisions in 2 years

More than 96 pc of the decisions have been implemented through 294 notifications issued by central govt.

29 Oct 2018 10:31 AM

GST Council in January 2017 decided that both the central and state tax administration would have the power to take intelligence-based enforcement action.

Dual jurisdiction under GST opens door for traders' harassment: CAIT

Taxpayers were assigned to Central and state officials on the basis of annual turnover.

19 Oct 2018 3:20 PM

Serial number 4A of Table 4 of Form GSTR-4 gives details of purchases made from GST registered vendors.

Composition scheme biz need not file purchase details under GST

Over 18 lakh businesses opted for composition scheme under the new indirect tax regime.

18 Oct 2018 9:57 AM

This is as volumes improve due to better domestic demand, supported by export growth for cars and two-wheelers.

India Inc expected to post 12 per cent Q2 growth

This would mark the fourth consecutive quarter of double-digit growth.

15 Oct 2018 1:28 AM

Decision taken in light of assembly elections, allege Opposition parties

Congress state president Ashok Chavan sla-mmed the government fo-r not giving ‘proper relief’ from the skyrocketing fuel prices.

06 Oct 2018 5:17 AM

Congress president Rahul Gandhi (Photo: PTI/File)

Rahul Gandhi asks Modi to bring petrol, diesel under GST

BJP president Amit Shah said that the recent cut in fuel prices by the government shows that Modi government’s sensitivity towards people.

06 Oct 2018 1:31 AM

Congress leader Randeep Singh Surjewala (Photo: PTI/File)

Price cut like Band Aid on deep wound, says Congress

Daring Mr Modi to bring fuel prices back to the 2014 level instead of throwing a “pittance of one or two rupees” at the public.

05 Oct 2018 3:06 AM

The revenue department is planning to come out with a 'GST informant reward scheme' to check tax evasion by unscrupulous traders and businesses, an official said.

Revenue dept to soon announce reward for information of GST evasion

Rewards are granted to the informers and govt servants in respect of cases of seizures made and/or infringements/evasion of duty or tax.

30 Sep 2018 5:58 PM

According to Crisil, the aggregate operating margins would be up 5-10 basis points (bps) in the second quarter, but this would be primarily because of the performance of steel makers.

India Inc’s revenue to double in Q2

Crisil pegs revenue growth at 12.1%; Attributes it to low base in last year due to GST.

28 Sep 2018 4:50 AM

Maharashtra Finance Minister Sudhir Mungantiwar.

State to reduce fuel taxes, says FM Sudhir Mungantiwar

Mr Mungantiwar blamed “global forces” for the unabated surge in prices of fuel in the country.

27 Sep 2018 5:05 AM

Congress President Rahul Gandhi C Congress leader and MP Jyotiraditya Madhavrao Scindia L and State President Kamal Nath during a roadshow in Bhopl. (Photo|: PTI)

‘Shiv Bhakt’ Rahul Gandhi vows to roll back GST

Rahul also came down heavily on the Centre for its failure to arrest growing incidents of violence and sexual harassment against women in the country.

18 Sep 2018 1:48 AM

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Anita Anand