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

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

15 July 2022

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...

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...

12 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)...

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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


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...


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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...


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...


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.


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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20 March 2022
Government Working On Classification Of Cryptocurrency Under GST Law

Government Working On Classification Of Cryptocurrency Under GST Law

Currently, 18 per cent Goods and Services Tax (GST) is levied only on services provided by crypto exchanges and is categorized as financial services.


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