Gst Council News
Packaged food, bank cheques, and LED lamps and fixtures will attract more GST. A ropeway ride and orthopaedic alliances will become cheaper
The levy of cess was to end on 30 June but the GST Council decided to extend it till March 2026 to repay the loans taken in the last two fiscal years to make up for the shortfall in their revenue collection
The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit, but report suppressed sales in GSTR-3B to lower GST liability
GST Council may consider modification in monthly tax payment form for better input tax credit 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
Sushil Modi says Supreme Court verdict on Centre, states not bound to recommendations of GST council isn't new
Sushil Modi said the Centre and states have simultaneous powers to legislate on GST and the Constitution does not envisage a repugnancy provision. GST council must work in a harmonious manner to achieve a workable solution
An apex court bench led by Justice DY Chandrachud held that the Parliament intended that the 'recommendations of the GST Council will have persuasive value as India is cooperative federalism'
A panel of state finance ministers is likely to submit its report by this month end to the Council suggesting various steps to raise revenue, including hiking the lowest slab and rationalising the slab.
Union Budget 2022-23: This Budget sets out a vision, this one being for India in 2047. It is a direction this government has followed since May 2014
States like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu had earlier said that they are not in favour of a hike in GST rate on textiles
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.
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
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
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
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
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'
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
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
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
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
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