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
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
Chief Ministers of six non-BJP ruled states — West Bengal, Kerala, Delhi, Telangana, Chhattisgarh and Tamil Nadu – have written to the Centre opposing the options which require states to borrow to meet shortfall
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
Ahead of the meeting today, chief ministers of Opposition-ruled states got together on Wednesday to devise a common strategy on the issue
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
The attorney general has said that there is no obligation on the Central government to pay the GST compensation shortfall to the states.
GST Council to discuss waiver of late fee for August 2017 to January 2020; next meeting to be held on 14 June
The CBIC said late fee is imposed to ensure that the taxpayers file return in time and pay taxes on the amount collected from buyers and due to the government.
The finance ministry is not in favour of increasing goods and services tax rates on non-essential items in the next month's meeting of the GST Council, despite depressed revenue collections due to the nationwide lockdown to contain the spread of COVID-19
GST compensation: States say Centre staring at sovereign default; GST Council sees first-ever voting
In a development with far-reaching implications, non-BJP ruled states on Wednesday said the union government may be headed for a sovereign default as it has refused to assure them of paying on time the GST dues guaranteed to them through a Constitutional amendment
GST Council meet: Most states were opposed to change in slabs, hikes; concerns raised over govt paying compensation on time
The GST Council, comprising state finance ministers and headed by Finance Minister Nirmala Sitharaman, is the highest decision-making body on the indirect tax rates
GST Council to meet today as revenue shortfall looms large; FM seeks suggestions for raising rates, cess
The GST Council will meet on Wednesday to review the taxation structure for shoring up the revenue as lower-than-expected collections has led to a delay in compensation payment to states
GST Council meeting on 18 December: Tax rates may go up for various items to compensate revenue shortfall
With pressure on revenue collection, the Goods and Services Tax (GST) rates and slabs may be raised during the GST Council meeting next week
Industry, stock market experts term Sitharaman's corporate tax cut 'revolutionary', say will make Indian firms globally competitive
In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 percent inclusive of all cess and surcharges for domestic companies.
Corporate tax cut: Nirmala Sitharaman silences doubters, changes perception around the state of the Indian economy
Until yesterday, Nirmala Sitharaman was being criticised for not having the vision and ability to be at the helm of finance ministry.
Nirmala Sitharaman slashes corporate tax to 22%; govt to forego Rs 1.45 lakh cr per year after levy cut, other relief measures
Sitharaman proposes to slash corporate tax for domestic firms, new local manufacturing cos through an ordinance.
GST Council meets tomorrow to decide on tax moderation; industries seek relief amid economic slowdown
Amid the clamour for a rate cut by various industries, the all-powerful GST Council will hold a crucial meeting on Friday to decide on tax moderation, keeping in mind the revenue position and the need to boost sagging economic growth
Hero MotoCorp on Thursday urged the government to consider a phase-wise reduction in GST on automobiles, cutting rates for two-wheelers in the first stage, and deferring tax cut on four-wheelers to a later stage
Ahead of GST Council meet, fitment panel rejects tax rate cut for auto, biscuits; favours relief for hotel industry
Ahead of the crucial GST Council meeting on Friday, a committee of officials has rejected demands for a cut in tax rate on items ranging from biscuits to car owing to tight revenue position as any reduction will dent Centre and State collections
Mahindra, Tata Motors offer discounts on select models to lure in customers, beat auto sector slowdown
Auto sector majors like Mahindra and Mahindra and Tata Motors are the ones who are offering huge discounts.