Clipped from: https://indianexpress.com/article/opinion/columns/why-the-distortions-built-into-gst-are-coming-undone-7346960/ Had there been a proportional representation of voting in the GST council either as a proportion of the size of a state or
Category: GST
Pvt cos may issue e-invoice: Fintech see scope in data, access to biz users | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/pvt-cos-may-issue-e-invoice-fintech-see-scope-in-data-access-to-biz-users-121060700625_1.html While e-invoicing alone may not generate high revenues, the key lies in the way fintechs leverage the data of enterprises to offer other
The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/the-great-indian-tax-paradox-can-the-tax-mop-up-keep-its-pace-in-the-current-fiscal/articleshow/83265391.cmsSynopsis Augmenting tax collection is critical. If the pandemic continues, pro-poor schemes will need more resources. Ramping up the heath infrastructure to prepare for
No service tax for takeaway orders from restaurants, hotels: Madras high court | Chennai News – Times of India
Clipped from: https://timesofindia.indiatimes.com/city/chennai/no-service-tax-for-takeaway-orders-from-restaurants-hotels-madras-high-court/articleshow/83276057. CHENNAI: In a significant ruling, Madras high court has held that service tax would not be applicable on ‘take-away’ in restaurants and hotels.Justice Anita Sumanth passed the
HC grants bail to man held for GST evasion | Madurai News – Times of India
Clipped from: https://timesofindia.indiatimes.com/city/madurai/hc-grants-bail-to-man-held-for-gst-evasion/articleshow/83155474.cms Madurai: The Madras high court on Tuesday granted bail to a businessman, who was arrested for evasion of GST to the tune of
Odisha Finance department: GST fraud thrives on greed of poor | Cuttack News – Times of India
Clipped from: https://timesofindia.indiatimes.com/city/cuttack/odisha-finance-department-gst-fraud-thrives-on-greed-of-poor/articleshow/82853586.cms CUTTACK: The state finance department’s commercial taxes & GST wing has claimed before the Orissa high court that the racket involved in mass fraud in
GoM on Covid items should focus on people’s interests | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/gom-on-covid-items-should-focus-on-people-s-interests-121060700010_1.html The GoM will give its findings by June 8 and the GST Council will take suitable decisions soon. Last Monday, the Supreme Court
Should taxes on petro products be reduced? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/should-taxes-on-petro-products-be-reduced/article34701363.ece The govt cannot afford to as it spends a huge amount on crude oil imports and petro goods are a healthy source of
Changing GST rates for Covid-supplies no panacea – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/changing-gst-rates-for-covid-supplies-no-panacea/2263326/ The solution lies in ensuring adequate supply and not making ad hoc changes to GST rates As there is market failure due to
The great Indian tax paradox: Can the tax mop-up keep its pace in the current fiscal? – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/the-great-indian-tax-paradox-can-the-tax-mop-up-keep-its-pace-in-the-current-fiscal/articleshow/83265391.cmsSynopsis Augmenting tax collection is critical. If the pandemic continues, pro-poor schemes will need more resources. Ramping up the heath infrastructure to prepare for
GST revenue down 27% in May at Rs 1.02 lakh cr–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/gst-revenue-slips-to-rs-102-lakh-crore-in-may/story/440921.html May GST revenue is 65 per cent higher than GST revenue in the same month last year. GST revenue had plummeted to Rs
Do not politicise GST Council: Finance Minister Nirmala Sitharaman | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/do-not-politicise-gst-council-finance-minister-nirmala-sitharaman-121060500003_1.html The government is conscious of the intensity of the second wave of Covid-19 and is assessing its full impact before coming out with
Excise duty mop-up up by 62% in FY21, highest during Modi regime – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/excise-duty-mop-up-up-by-62-in-fy21-highest-during-modi-regime/article34719631.ece Petrol, diesel shore up govt’s revenues to ₹3.89-lakh crore The Centre has collected over ₹3.89-lakh crore through central excise duty during FY21; this
SME Chatroom: ‘No GST on expenses incurred as pure agent’ | Business Standard News
Clipped from: https://www.business-standard.com/article/sme/sme-chatroom-no-gst-on-expenses-incurred-as-pure-agent-121053100884_1.html You need not include the costs and expenses you incur as a ‘pure agent’ in the value of taxable supplies, provided you fulfil
Levying of IGST on Oxygen concentrators imported for personal use or as a gift to resume – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/levying-of-igst-on-oxygen-concentrators-imported-for-personal-use-or-as-a-gift-to-resume/article34707463.ece The Supreme Court stayed the Delhi High Court decision to quash the May 1 notification that prescribes IGST at 12 per cent on
Ministry notifies amendment in GST law for levying interest on net cash liability – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/finance-ministry-notifies-amendment-in-gst-law-for-levying-interest-on-net-cash-liabilty-wef-july-1-2017/article34707667.ece Taxpayers who have already paid interest on gross liability can seek refund The Finance Ministry notified amendment in Central Goods and Services Tax
E-way bill generation slows 35% over April – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/e-way-bill-generation-slows-35-over-april/article34702234.ece?homepage=true …but some recovery seen during last 15 days, overall mobility also improved The average E-way bill generation in May dropped to nearly 35
Taxability of annuity on road construction still a grey area – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-taxability-of-annuity-on-road-construction-still-a-grey-area/articleshow/83112950.cmsSynopsis In its recent meeting the Council had clarified that annuity paid for ‘service by way of access to a road or a bridge’
Compliance relaxations, late fee rationalisation to help small taxpayers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-compliance-relaxations-late-fee-rationalisation-to-help-small-taxpayers/articleshow/83113630.cmsSynopsis For monthly and quarterly returns to be filed in the future, the late fee has been capped at Rs 500 for returns with
Decision deferred in deference to public – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/decision-deferred-in-deference-to-public/articleshow/83094003.cmsSynopsis The marginal benefit to individual Covid patients from scrapping tax is likely to be smaller than the loss to the collective from the
