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
Category: GST
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
Centre & states face off on cess | Business Standard Column
Last Wednesday, the Goods and Services Tax (GST) Council met, in the backdrop of falling revenues and failure of the central government, to compensate some
GST rates to change only once in a year | Deccan Herald
Ignoring negative sentiments around falling GDP growth rate and some policy roadblocks, foreign portfolio investors seem to have flocked to the Indian capital market in
Circular 123 helped up Nov GST, but it’s a bad habit | Deccan Herald
Goods and Services Tax collections for the month of November 2019 crossed the magic figure of Rs 1 lakh crore (Rs 1.03 lakh crore) –
Sound decision to not raise GST rates–Economic Times
The Goods and Services Tax (GST) Council’s decisions, one, not to tinker with the GST rates despite the revenue shortfall and, two, to fix a
Cutting income tax and raising GST makes no sense. Both need to fall together–The Print
Media reports suggest that the GST Council is expected to increase rates to counter the shortfall in GST collections. At the same time, there is
