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
Category: GST
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
Jockey’s Page Industries fails to get ITC relief on promotional goods from AAAR – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/companies/jockeys-page-industries-fails-to-get-itc-relief-on-promotional-goods-from-aaar/article34527439.ece ‘The ruling has rightly held that display boards, posters, etc. sent to the franchisees, distributors are inputs and not capital goods’ The Appellate
GST exemption on vaccines will lead to high prices: FM Sitharaman | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-exemption-on-vaccines-will-lead-to-high-prices-fm-sitharaman-121050900899_1.html Statement follows West Bengal CM Mamata Banerjee’s letter to PM seeking GST exemption Union Minister of Finance and Corporate Affairs Nirmala Sitharaman Finance
COVID-19: GST on vaccines in interest of manufacturers and citizens, says FM Sitharaman–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/covid-19-gst-on-vaccine-in-interest-of-manufacturers-and-citizens-says-fm-sitharaman/story/438643.html Sitharaman said exemption from GST for domestic supplies and commercial import of vaccines, COVID drugs and oxygen concentrators will increase the price of
Finmin turns down India Inc’s plea for IGST exemption on imported Covid relief material – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/finmin-turns-down-india-incs-plea-for-igst-exemption-on-imported-covid-relief-material/article34512646.ece Only State Government’s authorised entity will get exemption and distribute freely Finance Ministry has turned down India Inc’s plea for IGST (Integrated Goods
Plea to simplify GST – The Hindu
Clipped from: https://www.thehindu.com/news/cities/Madurai/plea-to-simplify-gst/article34515605.ece Agrofood Chamber of Commerce and Industry has congratulated DMK leader M.K. Stalin for taking charge as Chief Minister. In a press release, its
Unboxing key GST developments during the pandemic – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/covid-2-0-unboxing-key-gst-developments-during-the-pandemic/articleshow/82475660.cmsSynopsis Currently, the GST law seems to be evolving more through notifications and circulars and is still far from settling down. It’s been over
Are States’ GST collections on track? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/are-states-gst-collections-on-track/article34491863.ece The GST mop-up in the past three years has been less than impressive and major States are staring at huge shortfalls GST collection
GST shows signs of realising promise – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/gst-shows-signs-of-realising-promise/articleshow/82414400.cmsSynopsis For the economy as a whole, gross value added is equal to gross profits plus wages and salaries. The same holds at the
Structural shift | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/structural-shift-121050401323_1.html Higher GST collection reflects better compliance Goods and services tax (GST) collection for April indicates a structural shift. Collection touched an all-time high of
E-way bills likely to fall to five-month low amid Covid-19 lockdown | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/e-way-bills-likely-to-fall-to-five-month-low-amid-covid-19-lockdown-121050400036_1.html Likely to decline to 55-58 million in April In April e-way bill generation may decline to 55-58 million, which is the lowest since
Modi govt’s relief on GST late fee, tax payment to help MSEs but further extension still needed: Experts – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/modi-govts-relief-on-gst-late-fee-tax-payment-to-help-mses-but-further-extension-still-needed-experts/2244290/ Ease of Doing Business for MSMEs: The Central Board of Indirect Taxes and Customs (CBIC) on Saturday had issued a notification announcing the
Summary of 9 GST Notifications issued by CBIC on 01.05.2021–tax guru
Clipped from: https://taxguru.in/goods-and-service-tax/summary-9-gst-notifications-issued-cbic-01-05-2021.html Certain notifications have been issued by the CBIC yesterday night providing relief in certain matters in view of the ongoing pandemic situation in
GST mop-up at all-time high of Rs 1.41 lakh cr in April; hits Rs 1 lakh cr for 7th month in a row–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/at-141-lakh-crore-gst-revenue-collection-for-april-2021-sets-new-record/story/438011.html The GST collections remained above the Rs 1-lakh-crore mark for the seventh month in a row in April, the finance ministry said on
MSMEs seek easing of NPA, compliance rules – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/msmes-seek-easing-of-npa-compliance-rules/articleshow/82287398.cmsSynopsis The Federation of Indian Small and Medium Enterprises (FISME) also pitched for creation of a “war-room” to monitor prices of key raw materials
Assocham MSME chairman urges Centre to relax norms in view of second wave – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/assocham-msme-chairman-urges-centre-to-relax-norms-in-view-of-second-wave/articleshow/82320910.cmsSynopsis Assocham along with other national and regional organisations have urged the Centre to extend the deadline for statutory filings in view of the
Covid second wave: Industry body, MSMEs drag government, taxman to court over not extending deadlines – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/sme-sector/second-covid-wave-industry-body-msmes-drag-government-taxman-to-court-over-not-extending-deadlines/articleshow/82321202.cmsSynopsis Companies are worried that they would face penalties and jail term if they don’t follow deadlines. MUMBAI: An industry association and a group
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