In the last week of November 2019, five opposition-ruled states issued a statement that suggested that slowing revenues from goods and services tax (GST) had
Category: GST
All you wanted to know about compensation cess – The Hindu BusinessLine
In recent weeks, a skirmish has broken out between Opposition-ruled States, who have been complaining about the Centre dragging its feet on the release of
What may lie ahead in 2020 | Business Standard Column
The BJP has lost five states since December 2018. Jharkhand and Maharashtra are the latest, suggesting the narrative on nationalism has diminishing electoral returns With
Telcos may not get GST input tax credit refund: Report | Deccan Herald
Telecom companies may not get input tax credit refund worth Rs 36,000 crore under the Goods and Services Tax (GST), told the Deputy Chief Minister
‘IGST refunds worth Rs 1.12 lakh cr paid to exporters’ | Deccan Herald
The revenue department on Monday said that IGST worth over Rs 1.12 lakh crore has been refunded to exporters and only Rs 3,604 crore is
What is GST sans tax credit refund?–Economic Times
Bihar’s Deputy Chief Minister Sushil Kumar Modi says the GST Council will reject the requests by telcos for refund of input tax credit of Rs
GST facelift: Electronic invoicing, new returns to be introduced in 2020 | Business Standard News
Two things that will change the way transactions are reported under the goods and services tax (GST) system in 2020 are electronic invoicing and new
New procedures in GST system may be challenged in courts, say experts | Business Standard News
Experts say the new procedures in the goods and services tax (GST) system that enable officials to attach properties, including bank accounts, and cancel registration
GST shortfall not that big headache for Modi; it’s a worry for state Chief Ministers – The Financial Express
To compensate for GST shortfall, the government has recently increased the monthly GST collection target. Low tax collection in most of the Indian states may
FinMin notifies norm limiting ITC to 10% in case of GST details mismatch – The Hindu BusinessLine
Tax authority given the right to restrict the use of balance in electronic credit ledger In an effort to curb the menace of fake invoices
Those not filing GST returns may face attachment of property, bank accounts | Business Standard News
Those not filing GST returns could face attachment of their properties, including bank accounts, by tax officials. According to the standard operating procedure (SoP) issued by the
GST officials unearth Rs 241-cr tax evasion through fake invoicing | Business Standard News
GST officials have unearthed a racket involving fake invoicing worth Rs 1,600 crore that resulted in tax evasion of Rs 241 crore, an official release said in
Economic slowdown puts a question mark on 14 per cent GST compensation | Business News,The Indian Express
According to data available with the GST Council, the average revenue to be protected for states in 2018-19 stood at about Rs 49,020 crore a
Niti Aayog member bats for 2 GST slabs | Deccan Herald
Government think-tank Niti Aayog member Ramesh Chand on Wednesday made a case for only two slabs under the goods and service tax regime as against
GST anti-profiteering watchdog NAA imposes Rs 230 crore fine on J&J–Business Today
The goods and services tax (GST) profiteering watchdog the National Anti-profiteering Authority (NAA) has imposed a penalty of Rs 230 crore on global healthcare major
Panel suggests raising GST rate to increase revenue | Deccan Herald
With expected GST compensation cess shortfall of over Rs 60,000 crore in the current financial year, a committee of officers has suggested a number of
‘New registrations being verified by GST Council’ | Deccan Herald
The GST Council is verifying the 66.79 lakh new registrations by taxpayers, which could be fake or pertain to shell companies, Bihar Deputy Chief Minister
Government stares at Rs 63,000-crore shortfall in GST payout to states – Times of India
The government is staring at a shortfall of at least Rs 63,000 crore in compensation payout to the states during the current financial year, which
‘New registrations by taxpayers being verified by GST council’ – The Economic Times
The GST Council is verifying the 66.79 lakh new registrations by taxpayers, which could be fake or pertain to shell companies, Bihar Deputy Chief Minister Sushil Kumar Modi,
Companies under IBC process may get GST relief – The Economic Times
The government may allow companies undergoing resolution under the Insolvency and Bankruptcy Code (IBC) to pay current levies of goods and services tax (GST) without