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Panagariya Calls For 2-Rate GST Structure, Pruning Of Exemption List

Panagariya Calls For 2-Rate GST Structure, Pruning Of Exemption List

Panagariya also said that the Indian economy has grown fairly rapidly in the last 17 years, and it will grow at 7-8 per cent in the next couple of decades

21 July 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...

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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)...


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...


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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...


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...


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


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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...


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...


01 March 2022
GST Collections Rise 18% To Rs 1.33 Lakh Crore In February

GST Collections Rise 18% To Rs 1.33 Lakh Crore In February

This is the fifth time that the GST collection has crossed the Rs 1.3 trillion mark


26 February 2022
Businesses With Over Rs 20 Cr Turnover To Mandatorily Generate E-invoice From April 1

Businesses With Over Rs 20 Cr Turnover To Mandatorily Generate E-invoice From April 1

From April 1 last year, companies with turnover of more than Rs 50 crore were generating B2B e-invoices


31 December 2021
GST Council Defers Implementation Of Rate Hike In Textiles To 12%

GST Council Defers Implementation Of Rate Hike In Textiles To 12%

The 46th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising state counterparts, decided to deliberate on the issue...


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