Goods And Service Tax
Goods And Service Tax News
Five years of GST: Why it is indispensable tax regime
With GST coming into play in the last five years, the indirect taxation in this country has been completely overhauled. This has subsequently helped stabilizing the financial system, better administration of taxes, while removing internal trade barriers which has been deterrent to businesses
GST mop-up in September at Rs 1.47 lakh crore, 26% higher than same month last year
The GST collections had touched a record Rs 1.67 lakh crore in April, while in August it was over Rs 1.43 lakh crore. With the ongoing festive season, the collections are expected to go up in the coming months, experts said
Problem with the Delhi model: Freebies may deliver quick political results but impose high economic costs
While the debt levels of Delhi and its overall revenue deficit numbers may not be alarming compared to other states such as Punjab or West Bengal, the pace of deterioration in Delhi’s finances is a sign of troubled times ahead
Auto sector crisis: Industry's failure to detect looming slowdown exacerbated situation; other businesses must take cue and be vigilant
In the first five months of the financial year, the sales of passenger vehicles fell 24 percent over the year-ago period to 1.1 million units.
No deadline for vehicle manufacturers to switch to electric mobility: Nitin Gadkari
Earlier this year, the government had announced a Rs 10,000 crore budget for EV adoption.
IIP contracts after 21-months gap: What does disappointing factory output means for economy
The IIP growth numbers for March 2019 and FY19 are more than disappointing. This information comes at a time when there are not too many encouraging signals at the ground level
From GST on under-construction flats to income tax rebate, key changes kick in today; all you need to know
The income tax department will give a "straight rebate" of Rs 12,500 to people having an annual income of Rs 5 lakh from the beginning of the financial year 2019-20
GST Network develops system to fetch e-way bill data into monthly sales returns to curb tax evasion
Matching of invoices of e-way bills with the sales shown in GSTR-1 will help taxmen in assessing whether the supplies have been accurately shown in sales return
GST Council fixing agenda items without consulting states, says Andhra Pradesh FM; demands early release of unsettled IGST
The minister, who attended the 32nd GST Council meeting in New Delhi, also demanded early release of the unsettled Integrated Goods and Service Tax (IGST) amount of Rs 7,000 crore to the state governments.
GST Council meet: MSME exemption limit doubled to Rs 40 lakh; annual turnover for composition scheme now Rs 1.5 cr
Finance minister Arun Jaitley said the council has also decides to increase GST registration threshold limit to Rs 40 lakh from Rs 20 lakh
GST ministerial panels decide to hike exemption threshold for MSMEs; favour Kerala levying 1% cess for 2 years
Currently, businesses with an annual turnover of up to Rs 20 lakh are exempt from the Goods and Services Tax (GST).
SoftBank Group to invest $450 million in logistics company Delhivery; Gurugram-based firm to be valued at $1 billion
SoftBank's Vision Fund will invest around $350 million in Delhivery initially
Finance Minister Arun Jaitley says demonetisation was a 'highly ethical' move, not a political one
Jaitley was speaking after releasing the BJP's manifesto here ahead of the November 28 Madhya Pradesh Assembly election
Warehousing stock eight major cities to reach 297 mn sq ft by 2021 on strong demand after GST implementation: Report
The total warehousing space in top eight cities including Mumbai, NCR, Ahmedabad, Bengaluru, Pune, Chennai, Hyderabad and Kolkata is expected to reach 204 million sq ft by 2019
TDS regime under GST takes off from 1st October 2018: Government procurements alone targeted for the time being
The TDS rate is 2 percent on the value of goods or services supplied ignoring GST. And there is an exemption from TDS requirement for the value of contract not exceeding Rs 2,50,000
Yes Bank slapped with Rs 38 crore in GST fines for alleged violations in domestic remittances
A bank official, however, said the money has been paid "in protest" and the lender believes that it has not violated any norms.
Q1 GDP print at 8.2%: Economic expansion to stay steady, but capital formation crux for future growth
The government sector continues to drive the economy which is encouraging as the private sector activity is still to pick up adequately
Demonetisation: Arun Jaitley says note ban boosted formalisation of economy, added more money to system
Arun Jaitley clarified that the 'larger purpose of demonetisation was to move India from a tax non-compliant society to a compliant one'
IMF says India can simplify GST structure without hurting the poor; changes won't compromise principle of progressivity
A simpler GST structure will reduce compliance and administrative costs, which tend to burden smaller firms.
GST revenues will go up in coming months on improved compliance and market demand: Piyush Goyal
Goyal said GST revenue collections are "within our target so far" and the festive season would help increase demand in the market going forward.