Gst Council

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Swiggy, Zomato to collect 5% GST from customers starting 1 Jan, 2021; here's how much you will have to pay
Business

Swiggy, Zomato to collect 5% GST from customers starting 1 Jan, 2021; here's how much you will have to pay

Nirmala Sitharaman made the announcement after the GST Council meeting, which has made the decision for ease in tax administration.

Swiggy, Zomata to collect GST from customers, fuel to stay of ambit: Key decisions
Business

Swiggy, Zomata to collect GST from customers, fuel to stay of ambit: Key decisions

Bringing the food-delivery apps under GST, the finance ministry clarified that no new taxes were being announced, and that the GST collection point was simply being transferred

GST Council to meet today: A simple understanding of the tax reform
Business

GST Council to meet today: A simple understanding of the tax reform

Here's a decoder to help you to understand the whats, whys and hows of GST

Kerala to oppose Centre's move to bring petrol, diesel under GST, says finance minister KN Balagopal
India

Kerala to oppose Centre's move to bring petrol, diesel under GST, says finance minister KN Balagopal

Kerala Finance Minister KN Balagopal said the state will strongly oppose, if there is any move to bring petrol and diesel under the GST regime.

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards
Business

GST Council meeting on Friday; tax concession to 11 COVID drugs, bringing petrol and diesel under GST on cards

Tax rate on Amphotericin B, Tocilizumab was cut to 'Nil', while Remdesivir and Heparin was reduced to five percent in June 2021.

West Bengal finance minister Amit Mitra claims his voice was 'muzzled' during virtual GST Council meeting
India

West Bengal finance minister Amit Mitra claims his voice was 'muzzled' during virtual GST Council meeting

Union Minister of State for Finance Anurag Singh Thakur, however, countered Mitra's charges and said that technical glitches had marred the latter's speech

Supreme Court stays Delhi HC's order holding IGST on imported oxygen concentrators as 'unconstitutional'
India

Supreme Court stays Delhi HC's order holding IGST on imported oxygen concentrators as 'unconstitutional'

AG KK Venugopal said the GST Council will meet on 8 June and deliberate on granting exemption to essential items related to COVID-19, including oxygen concentrators

GST Council Meet: Tax on COVID-19 vaccines unchanged; 'black fungus' drug added to import exempt list
Business

GST Council Meet: Tax on COVID-19 vaccines unchanged; 'black fungus' drug added to import exempt list

Finance minister Nirmala Sitharaman, chairing the Council's first meet in nearly eight months on Friday, said the waiver of I-GST will continue on free COVID-19 related supplies imported from abroad till 31 August

GST Council likely to discuss reduced tax rate on COVID-19 medicines, vaccines in meeting today
India

GST Council likely to discuss reduced tax rate on COVID-19 medicines, vaccines in meeting today

The council, which is headed by Union finance minister Nirmala Sitharaman and includes representatives of all states and UTs, is meeting for the first time in nearly eight months

GST authorities arrest 215 persons in fake invoice cases, recover Rs 700 crore over two months
India

GST authorities arrest 215 persons in fake invoice cases, recover Rs 700 crore over two months

Those arrested include managing directors, proprietors and partners of business and trade entities either involved in availing or utilising the ineligible input tax credit fraudulently

Stalemate over GST compensation for states continues as Council fails to reach consensus today
India

Stalemate over GST compensation for states continues as Council fails to reach consensus today

Finance Minister Nirmala Sitharaman, who heads the Council, said the Centre can't borrow and pay states for the shortfall as it will lead to rise in bond yields

GST Council to discuss compensation for states for third time tomorrow; decision on setting up group of ministers likely
Business

GST Council to discuss compensation for states for third time tomorrow; decision on setting up group of ministers likely

In its previous meeting last week, the Council had decided to extend the surcharge on taxes on luxury goods beyond June 2022 but failed to reach a consensus on ways to compensate states for loss of tax revenue

GST Council to extend surcharge on taxes over luxury goods, fails to reach consensus on issue of states' compensation
India

GST Council to extend surcharge on taxes over luxury goods, fails to reach consensus on issue of states' compensation

The panel, which decides on tax rates and structure of the GST, will meet again on 12 October to thrash out the state compensation issue

GST Council fails to reach consensus on compensation to states; next meeting on 12 October
Business

GST Council fails to reach consensus on compensation to states; next meeting on 12 October

Finance minister Nirmala Sitharaman said the panel decided to extend the use of GST cess collections for compensating states beyond the previously agreed June 2022 timeframe

Centre used GST compensation cess elsewhere instead of paying states, violated law, says CAG
India

Centre used GST compensation cess elsewhere instead of paying states, violated law, says CAG

In its audit report of government accounts, the Comptroller and Auditor General flagged that the amount was to be credited to the non-lapsable fund for payment to states for loss of revenue

'Act of sovereign default': Hemant Soren writes to PM against Centre's GST compensation proposal
Politics

'Act of sovereign default': Hemant Soren writes to PM against Centre's GST compensation proposal

Nirmala Sitharaman, in the 41st meeting of GST Council on 27 August, ruled out paying compensation to states

Tamil Nadu govt asks Centre to continue GST compensation, says state's economy is 'burdened' due to COVID-19
India

Tamil Nadu govt asks Centre to continue GST compensation, says state's economy is 'burdened' due to COVID-19

The state govt also urged Centre to expedite the release of Rs 12,258.94 crore, which is its GST arrears since 2018-19 and outstanding Integrated GST of Rs 4,073 crore for 2017-2018 fiscal

41st GST Council meeting: As fund crunch deepens, states likely to corner Centre over pending compensation
Business

41st GST Council meeting: As fund crunch deepens, states likely to corner Centre over pending compensation

Ahead of the meeting today, chief ministers of Opposition-ruled states got together on Wednesday to devise a common strategy on the issue

Sushil Modi says Centre 'morally if not legally bound' to pay GST compensation to states
India

Sushil Modi says Centre 'morally if not legally bound' to pay GST compensation to states

Ahead of the GST Council meeting, the Bihar deputy CM said states have to be compensated to the tune of Rs 3.65 lakh crore in the current fiscal

GST compensation: Centre committing 'sovereign default' by not paying pending dues to states, says Congress
Business

GST compensation: Centre committing 'sovereign default' by not paying pending dues to states, says Congress

Congress leaders demanded that states should be compensated for the estimated Rs 6 lakh crore loss in revenues due to the COVID-19 pandemic