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Pre-Packed, Labelled Cereals, Pulses, Flour Weighing More Than 25Kg Exempt From 5% GST: Finance Ministry

Pre-Packed, Labelled Cereals, Pulses, Flour Weighing More Than 25Kg Exempt From 5% GST: Finance Ministry

Last week, the government had notified that from July 18, unbranded pre-packed and labelled food items would attract 5 per cent Goods and Services Tax. So far, only branded items used to attract the levy

18 July 2022
Finance Ministry Seeks Industry Views On Changes In Monthly GST Payment Form

Finance Ministry Seeks Industry Views On Changes In Monthly GST Payment Form

The GST Council in its meeting last month recommended that the changes in GSTR-3B or monthly tax payment form be placed in public domain for seeking inputs and...

15 July 2022

Panel On GST Appellate Tribunal Formed, Report By Month-End

The GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state ministers, had last week decided to constitute a Group of Ministers (GoM)...

Rate Tweaks To Make Up For Inefficiencies In Value Chain; States Conscious Of Inflation Impact: FM

Rate Tweaks To Make Up For Inefficiencies In Value Chain; States Conscious Of Inflation Impact: FM

Sitharaman said any increase in tax rates will also make up for the tax burden, which is being borne by some other activities in that value chain

29 June 2022

About Dozen States Seek Extension Of GST Compensation; No Decision Taken

Union Finance Minister Nirmala Sitharaman said finance and other ministers of 16 states spoke on the compensation issue

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23 June 2022
States To Push For Continuing GST Compensation Beyond June; Centre To Cite Tight Revenue Position

States To Push For Continuing GST Compensation Beyond June; Centre To Cite Tight Revenue Position

To meet the shortfall in the GST compensation fund, the Centre has borrowed and released to states Rs 1.1 lakh crore in 2020-21 and Rs 1.59 lakh crore in...


17 June 2022
GoM Fails To Reach Consensus On GST Rate Rationalisation

GoM Fails To Reach Consensus On GST Rate Rationalisation

The Group of Ministers will, however, present a status report to the GST Council on the consensus which was arrived at the previous meeting of the GoM on...


30 May 2022
GST Has Not Boosted States' Tax Collections: Ind Ra

GST Has Not Boosted States' Tax Collections: Ind Ra

The rating agency said that the data does not point to any benefits to the states in the last five years since the implementation of GST (Goods and Services...


22 May 2022
GST Council May Consider Modification In Monthly Tax Payment Form For Better ITC Reporting

GST Council May Consider Modification In Monthly Tax Payment Form For Better ITC Reporting

A meeting of the Goods and Services Tax (GST) Council, the highest decision making body in the GST matter, is likely to be held next month


18 May 2022
Govt Extends April GST Payment Deadline Till May 24

Govt Extends April GST Payment Deadline Till May 24

Earlier in the day, the CBIC had said that a technical glitch has been reported by Infosys in the generation of April GSTR-2B and auto-population of GSTR-3B on...


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01 April 2022
GST Collection In March At All-Time High Of Rs 1.42 Lakh Crore

GST Collection In March At All-Time High Of Rs 1.42 Lakh Crore

The revenues for of March are 15% higher than the GST revenues in the same month last year and 46% higher than the GST revenues in March 2020, finance ministry...


31 March 2022
Miffed With Rising False GST Claims, Centre Mulls Roping In NPCI To Verify Traders’ Bank Accounts

Miffed With Rising False GST Claims, Centre Mulls Roping In NPCI To Verify Traders’ Bank Accounts

Tax authorities have busted different rackets exposing tax evasion through false claims to the tune of Rs 40,000 crore over the last one year


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