Clipped from: https://www.business-standard.com/article/economy-policy/gst-council-meet-on-friday-pvt-fintech-firms-set-to-enter-e-invoicing-zone-121052401577_1.html GST Council may green-light entry given disappointing progress The Goods and Services Tax (GST) Council on Friday will discuss bringing in private financial technology companies
Category: GST
GST Council unlikely to bite the bullet on fuels – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34637944.ece Officials say Centre, States facing revenue shortfall due to lockdowns, lower demand The GST Council, which is meeting on May 28, is unlikely
Rationalise rates | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/rationalise-rates-121052300914_1.html GST Council must address the shortfall in collection After a few months of robust performance, goods and services tax (GST) collection is expected to be
Centre, states stare at Rs 2-trillion GST cess gap amid Covid-19 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/centre-states-stare-at-rs-2-trillion-gst-cess-gap-amid-covid-19-121052400026_1.html The GST compensation of states is expected to widen to Rs 2.5-3 trillion in FY22 as against the cess collection of Rs 1
Levying IGST on imported oxygen concentrators for personal use ‘unconstitutional’: Delhi HC – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/levying-igst-on-imported-oxygen-concentrators-for-personal-use-unconstitutional-delhi-hc/article34617008.ece Division Bench quashes Finance Ministry notification issued on May 1 The Delhi High Court, on Friday, held that the imposition of Integrated Goods
Delhi HC: No IGST levy on oxygen concentrators imported for personal use – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/delhi-hc-holds-as-unconstitutional-imposition-of-igst-on-imported-oxygen-concentrators-for-personal-use/articleshow/82829692.cmsSynopsis The Delhi High Court has ruled that the government cannot levy integrated goods and service tax (IGST) on oxygen concentrators that are imported
FAITH urges Centre to review and rationalise GST on tourism value chain – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/economy/policy/faith-urges-centre-to-review-and-rationalise-gst-on-tourism-value-chain/article34606072.ece Say hospitality players must be allowed to get a refund of unutilised GST credit lying with State governments The Federation of Associations in
GST Council may take up plea on lowering general interest rates – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-council-may-take-up-plea-on-lowering-general-interest-rates/article34599784.ece States believe falling interest rate regime justifies demand from all quarters The GST Council, which is meeting on May 28, is expected to
CBIC notifies changes in GST refund policy, revocation of cancelled registration – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/cbic-notifies-changes-in-gst-refund-policy-revocation-of-cancelled-registration/article34596504.ece Now, refund application can be withdrawn at any time prior to issuance of refund. Central Board of Indirect Taxes & Custom (CBIC) has
MSME body wants FM to extend GST deadlines – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/msme-body-wants-fm-to-extend-gst-deadlines/articleshow/82728650.cmsSynopsis Kassia president KB Arasappa also requested the Finance Minister to take steps to see refunds were released on priority. Karnataka has been under
Daily e-way bill generation falls to one-year low | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/daily-average-e-way-bill-generation-in-may-falls-one-year-low-of-to-1-21-mn-121051701285_1.html GST mop-up likely to fall in May, June Photo: Shutterstock Fewer e-way bills have been generated in May so far, with the daily
Judiciary walks the talk on Taxpayers’ Charter – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/business-laws/judiciary-walks-the-talk-on-taxpayers-charter/article34573636.ece As promised in the Taxpayers Charter, the IT department is committed to providing fair treatment and delivering professional assistance in all dealings with
Food items supplied under govt scheme to ITI trainees not to attract GST: AAR – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/economy/food-items-supplied-under-govt-scheme-to-iti-trainees-not-to-attract-gst-aar/article34572622.ece ‘ITI is institution providing education up to higher secondary level’ The supply of food items under government-sponsored schemes for students to institution such
GST meet to consider relief for Covid essentials – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/gst-council-meet-to-consider-relief-for-covid-essentials/article34573571.ece?homepage=true States seek GST exemption for sanitisers, PPE kits, oximeters and ventilators With the growing clamour from the States for additional money to manage
GST applicable on credit card expenses incurred by employees of MNCs’ India arms, rules AAR – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-applicable-on-credit-card-expenses-incurred-by-employees-of-mncs-india-arms-rules-aar/articleshow/82658752.cmsSynopsis As per the details of the case, ICU Medical Inc had provided credit cards to employees of its India subsidiary for incurring business-related
Interest for delayed payment on imported goods liable to GST: AAR – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/interest-for-delayed-payment-on-imported-goods-liable-to-gst-aar/articleshow/82659395.cmsSynopsis AAR observed that the holding company had “tolerated the act” of receiving payment after a lapse of a period of 120 days from
CBIC starts special drive to clear pending GST refund claims by month-end – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/finance/cbic-starts-special-drive-to-clear-pending-gst-refund-claims-by-month-end/articleshow/82675495.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis In an instruction to all Principal Commissioners of Central Tax formations, the CBIC said there is a need to focus on timely disposal
Notify Covid-19 vaccines as zero-rated supply under GST, say experts | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/notify-covid-19-vaccines-as-zero-rated-supply-under-gst-say-experts-121051100005_1.html Tax waiver on entire Covid-related supply chain could prevent a rise in price Experts point out that a tax waiver for the entire
GST exemption for Covid drugs unsound – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/gst-exemption-forcovid-drugs-unsound/articleshow/82530064.cmsSynopsis Estimates show that the country loses about 2% of the GDP on GST exemptions. Exemptions must be scrapped. The Centre is right to
I-T dept goes after hospitals taking cash payment to treat Covid patients | Business Standard News
Clipped from: https://www.business-standard.com/article/current-affairs/finance-ministry-asks-cbdt-to-penalise-hospitals-fleecing-covid-19-patients-121051100028_1.html Finance ministry asks department to penalise hospitals found with unaccounted cash, prevent evasion. A patient suffering from the coronavirus disease (Covid-19) waits to
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