Friday, Aug 12, 2022
Outlook.com

GST Collections Surges 28% To Rs 1.49 Lakh Crore In July

GST Collections Surges 28% To Rs 1.49 Lakh Crore In July

The collections in July this year is the second highest since the introduction of GST in July 2017, the ministry said in a statement

01 August 2022
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,...

18 July 2022

Centre Usurping GST Council Mandate With Prior Notifications, Allege Legal Experts

Official communication available in the public domain suggests that the Centre issued several notifications without any recommendations from the GST Council

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

Sale Of Online Space For Advertisement To Attract 18% GST: AAR

E-commerce portal Myntra Designs Pvt Ltd had approached the AAR seeking a ruling on whether providing advertisement space on its portal to foreign entity...

Advertisement
12 July 2022
GST: Group Of Ministers To Finalise Report On Casinos, Online Gaming By Aug 10

GST: Group Of Ministers To Finalise Report On Casinos, Online Gaming By Aug 10

Officials said the Group of Ministers (GoM) held a virtual meeting on Tuesday and discussed various methods of taxation of casinos, horse racing and online...


08 July 2022
Panel On GST Appellate Tribunal Formed, Report By Month-End

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)...


05 July 2022
FICCI Seeks Zero-Rating GST On Healthcare Services

FICCI Seeks Zero-Rating GST On Healthcare Services

Sharing its views on the recommendations made in the recent GST Council meeting, the chamber said the incorporation of 5 per cent GST on room rent (exceeding...


05 July 2022
5% GST On Non-ICU Hospital Rooms Above Rs 5,000 Will Not Hit Affordable Healthcare: Revenue Secy

5% GST On Non-ICU Hospital Rooms Above Rs 5,000 Will Not Hit Affordable Healthcare: Revenue Secy

Revenue secretary Tarun Bajaj also rejected the demand for zero-rating for healthcare industry saying such "carve-outs" may generate similar demands from other...


02 July 2022
Five Years Of GST: Some Hits, Many Misses

Five Years Of GST: Some Hits, Many Misses

While offering greater ease of doing business, GST still suffers from bottlenecks since its introduction in 2017; be it difficulty in claiming an input tax...


Advertisement

01 July 2022
June GST Collections Jump 56% To Rs 1.44 Lakh Crore, Second-Highest Since Rollout

June GST Collections Jump 56% To Rs 1.44 Lakh Crore, Second-Highest Since Rollout

This is the fifth time that the monthly GST collections crossed the Rs 1.40-lakh-crore mark since the inception of GST and the fourth month at a stretch since...


01 July 2022
GST Collections Jump 56% To Rs 1.44 Lakh Crore In June: FM Sitharaman

GST Collections Jump 56% To Rs 1.44 Lakh Crore In June: FM Sitharaman

FM Sitharaman said Rs 1.4 lakh crore is the "rough bottom line" now for GST collections


30 June 2022
'GST On Horse-trading': Cong's Jibe Over Sitharaman's Slip Of Tongue

'GST On Horse-trading': Cong's Jibe Over Sitharaman's Slip Of Tongue

The clip was from Wednesday where at a press conference the finance minister said the GST council had deferred a decision on 28 per cent tax on casinos, online...


29 June 2022
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

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


28 June 2022
Amit Mitra Asks Centre To Take Decisions At GST Council By Consensus

Amit Mitra Asks Centre To Take Decisions At GST Council By Consensus

In a two-page letter to Sitharaman, the Principal Chief Adviser to Chief Minister Mamata Banerjee and the Finance Department, Dr Amit Mitra, cited a recent...


Advertisement

26 June 2022
GST Council Meet: Rate Changes On Some Items On Cards, States' Compensation Tops Agenda

GST Council Meet: Rate Changes On Some Items On Cards, States' Compensation Tops Agenda

The 47th meeting of the GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and UTs, is scheduled for...


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...


02 June 2022
As GST Compensation Period Nears End, SC Ruling Reignites Centre-State Tax Chasm  

As GST Compensation Period Nears End, SC Ruling Reignites Centre-State Tax Chasm  

The SC judgment has given states more bargaining power that they could use to improve their strained financial positions 


01 June 2022
GST Revenues At Nearly Rs 1.41 Lakh Crore In May

GST Revenues At Nearly Rs 1.41 Lakh Crore In May

Bucking the month-on-month increasing trend of the last two months, the Goods and Services Tax (GST) revenues came in lower than the record high collection in...


31 May 2022
Centre Clears Entire GST Compensation Dues Till Date, Releases Rs 86,912 Crore To States

Centre Clears Entire GST Compensation Dues Till Date, Releases Rs 86,912 Crore To States

Of this, Rs 25,000 crore is released from the GST compensation fund and the balance Rs 61,912 crore is being released by the Centre from its own resources...


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...


25 May 2022
Inflationary Concerns May Delay GST Rate Rationalisation: Report

Inflationary Concerns May Delay GST Rate Rationalisation: Report

The Goods and Services Tax (GST) regime taxes goods and services in four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent


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


Advertisement
Advertisement
Advertisement
Advertisement
Advertisement