Clipped from: https://www.business-standard.com/article/opinion/more-misses-than-hits-121053000911_1.html GST Council should have addressed pressing issues The council that oversees goods and services tax (GST), the GST Council, met last Friday amid concern about
Category: GST
GST Council refers composition scheme for ice cream makers back to Fitment Committee – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-council-refers-composition-scheme-for-ice-cream-makers-back-to-fitment-committee/article34683284.ece ‘Given the high value addition, the revenue implication is significant’ The ice cream sector will have to wait to be included in the
GST Council proposes amnesty scheme for small, medium taxpayers: Highlights – Times of India
Clipped from: https://timesofindia.indiatimes.com/business/india-business/gst-council-exempts-import-of-relief-items-highlights/articleshow/83037115.cms NEW DELHI: The 43rd GST Council on Friday took several key decisions including exemption of duty on import of Covid-19 related items, and
GST Council likely to exempt govt depts, local authorities from e-invoicing | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-council-likely-to-exempt-govt-depts-local-authorities-from-e-invoicing-121052701702_1.html The Council is meeting today to discuss issues such as rates on Covid-related supplies The e-invoicing system, aimed to plug revenue leakages and
GST Council may correct the inverted duty structure for textiles, footwear industries – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-council-may-correct-the-inverted-duty-structure-for-textiles-footwear-industries/article34652138.ece Leading to higher refunds, affecting govt revenues The GST Council meeting on Friday is expected to take a call on removing the anomaly
GST revenue shortfall: Centre may have to borrow Rs 1.58 trillion | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-revenue-shortfall-centre-may-have-to-borrow-rs-1-58-trillion-121052700040_1.html Shortfall estimated at Rs 2.7 trn; Rs 1.1 trn may be met via cess collection Compensation cess is levied on a few items
Footwear, readymade garments likely to attract higher rates of GST | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/footwear-readymade-garments-likely-to-attract-higher-rates-of-gst-121052700012_1.html The fitment committee, which recommends rate changes to the Council, has proposed increasing the rate on footwear (less than Rs 1,000), readymade garments,
Liaison office connecting India biz with Dubai HO, an ‘intermediary’ under GST – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/liaison-office-connecting-india-biz-with-dubai-ho-an-intermediary-under-gst/article34648881.ece The Authorities for Advance Rulings (AAR) continue to give contrary rulings, with the latest one from Maharashtra. This ruling held the liaison office
GST Council may correct the inverted duty structure for textiles, footwear industries – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/policy/gst-council-may-correct-the-inverted-duty-structure-for-textiles-footwear-industries/article34652138.ece Leading to higher refunds, affecting govt revenues The GST Council meeting on Friday is expected to take a call on removing the anomaly
Demerit Goods: Higher rates likely on pan masala and gutkha to curb tax evasion – The Financial Express
Clipped from: https://www.financialexpress.com/economy/demerit-goods-higher-rates-likely-on-pan-masala-and-gutkha-to-curb-tax-evasion/2259657/ The move is expected to help check massive tax evasion in these sectors. Currently, assorted tobacco items, pan masala and aerated water are
GST Council panel not for exempting Covid vaccines – Today’s Paper – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/article34645978.ece Fitment Committee for limited period rate cut onO2 device The GST Council’s Fitment Committee, which prepares proposals for rate revisions, is for keeping
GST Council meet on Friday; pvt fintech firms set to enter e-invoicing zone | Business Standard News
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
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
