Monday, Jun 27, 2022
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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 June 28-29. The Council is meeting after a gap of six months

26 June 2022
GST Department May Soon Clarify On Exemptions To IVF, Tax On Honorarium Paid To Guest Anchors

GST Department May Soon Clarify On Exemptions To IVF, Tax On Honorarium Paid To Guest Anchors

GST law defines healthcare services as any service by way of diagnosis or treatment or cares for illness, injury, deformity, abnormality, or pregnancy in any...

24 June 2022

GST Council To Consider Making E-Way Bill Mandatory For Gold, Precious Stones

The council in its meeting on June 28-29 is likely to consider the report of the panel of state finance ministers on the feasibility of implementation of the...

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...

23 June 2022

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...

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16 June 2022
GST Council To Meet On June 28-29 In Srinagar

GST Council To Meet On June 28-29 In Srinagar

The GST Council, chaired by Union Finance Minister and comprising state counterparts, is also expected to discuss certain simplifications in procedures


11 June 2022
After Supreme Court Verdict On GST, Council Meetings May Not Be The Same Again

After Supreme Court Verdict On GST, Council Meetings May Not Be The Same Again

The top court has reaffirmed states’ rights in GST negotiations, which were available in GST laws but rarely invoked. The idea of the GST Council, whose...


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 


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...


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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 In Online Gaming - Explained

GST In Online Gaming - Explained

Pay-to-play online skill games are operationally different from lottery betting and gambling and GST levied may face constitutional challenges in the eye of...


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


20 May 2022
With SC Verdict On GST Council's Powers, Is One Nation One Tax Regime In Danger?

With SC Verdict On GST Council's Powers, Is One Nation One Tax Regime In Danger?

States had the power to legislate their own laws under the GST Act, but SC verdict gives clarity on what states can do to protect their rights.


19 May 2022
SC Ruling Unlikely To Alter GST Regime: Revenue Secretary

SC Ruling Unlikely To Alter GST Regime: Revenue Secretary

The recommendations of the GST Council, as per the Constitutional amendment, were always guidance and never mandatory compliance, Bajaj said.


19 May 2022
GST Council Recommendations Not Binding On Centre And States But Have Persuasive Value: Supreme Court

GST Council Recommendations Not Binding On Centre And States But Have Persuasive Value: Supreme Court

The bench said that as per Article 246A, both Parliament and the State legislature have equal power to legislate on matters of taxation.


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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...


18 May 2022
GST Slab On Online Gaming To Be Decided Today, Will It Be Doomsday For Fast-Rising Industry?

GST Slab On Online Gaming To Be Decided Today, Will It Be Doomsday For Fast-Rising Industry?

The GoM is mulling 28 per cent GST on gross revenue of online gaming platforms who currently pay 18 per cent of net income.


28 April 2022
Maharashtra Stares At Rs 30,000 Crore Revenue Loss If GST Compensation Not Extended

Maharashtra Stares At Rs 30,000 Crore Revenue Loss If GST Compensation Not Extended

The Goods and Services Tax (GST) Act guarantees states bi-monthly compensation for any loss of revenue in the first five years of its implementation.


24 April 2022
No Proposal On GST Rate Hike Yet

No Proposal On GST Rate Hike Yet

Stating that views have not been sought from states on hiking rates on 143 items, sources said, there is also no proposal to shift more than half of the items...


19 April 2022
Group Of Ministers Yet To Take A View On GST Rate Rationalisation

Group Of Ministers Yet To Take A View On GST Rate Rationalisation

The Group of Ministers (GoM) will deliberate and finalize recommendations which will be sent to the GST Council, headed by Finance Minister Nirmala Sitharaman...


17 April 2022
GST Council May Do Away With 5% Rate; Move Items To 3% And 8% Slabs

GST Council May Do Away With 5% Rate; Move Items To 3% And 8% Slabs

Currently, GST is a four-tier structure of 5, 12, 18 and 28 per cent. Besides, gold and gold jewellery attract a 3 per cent tax.


01 April 2022
Brick Manufacturing, Trading To Attract 6% GST Without ITC; 12% With Credit

Brick Manufacturing, Trading To Attract 6% GST Without ITC; 12% With Credit

The government on March 31 notified the GST rates that would be applicable from April 1.


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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