Clipped from: https://www.business-standard.com/article/opinion/gst-rate-rationalisation-the-larger-objective-121022500005_1.html Besides merging the rate slabs of 12 per cent and 18 per cent, the GST Council could consider phasing out exemptions to those
Category: GST
Economists bat for fuel tax cut to rein in inflation – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/economists-bat-for-fuel-tax-cut-to-rein-in-inflation/articleshow/81190930.cmsSynopsis Inflation has fallen under 6%, the upper tolerance limit. But the RBI’s RBI’s Monetary Policy Committee(MPC) minutes also flags members’ concerns and warning
How to keep up with GST compliance – The Financial Express
Clipped from: https://www.financialexpress.com/money/how-to-keep-up-with-gst-compliance/2200402/ The filing of return is one of the most important things in compliance under the GST. GST law registered dealer, needs to file
‘ई-वे’ बिलामुळे वाहतूकदारांवर संकट | लोकसत्ता
Clipped from: https://www.loksatta.com/thane-news/crisis-on-transporters-due-to-e-way-bill-akp-94-2406053/ केंद्र सरकारने वस्तू आणि सेवा करासोबतच (जीएसटी) ई वे बिल ही प्रणाली सुरू केली आहे. || किशोर कोकणे वस्तू व सेवा करातील नव्या
CBIC addresses IGST refund issues of exporters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/cbic-addresses-igst-refund-issues-of-exporters/articleshow/81164709.cmsSynopsis “It is seen that a considerable number of exporters have been facing difficulties in getting their IGST refund sanctioned either due to lack
Large resident welfare associations may have to pay GST retrospectively – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/real-estate/large-resident-welfare-associations-may-have-to-pay-gst-retrospectively/article33905903.ece Experts divided over the interpretation Large resident welfare associations (RWAs) may have to face GST liability retrospectively subject to certain conditions. One particular
Without legislative backup, govt must not amend rules | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/without-legislative-backup-govt-must-not-amend-rules-121022100867_1.html The GST Council should prevail on the government to avoid such practices as they lead to unnecessary litigation The Finance Bill, 2021, proposes
CBIC addresses IGST refund issues of exporters – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/cbic-addresses-igst-refund-issues-of-exporters/articleshow/81156185.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis “It is seen that a considerable number of exporters have been facing difficulties in getting their IGST refund sanctioned either due to lack
Taxing e-commerce – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/equalisation-levy-should-stay-but-clarity-is-needed-on-some-grey-areas/article33895976.ece?homepage=true Equalisation levy should stay, but clarity is needed on some grey areas The vociferous criticism of the changes proposed to the equalisation levy
Without legislative backup, govt must not amend rules | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/without-legislative-backup-govt-must-not-amend-rules-121022100867_1.html The GST Council should prevail on the government to avoid such practices as they lead to unnecessary litigation The Finance Bill, 2021, proposes
Course correction –GST–| Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/course-correction-121022100815_1.html Underperformance of GST must be addressed The Indian economy is returning to normal after almost a year of unprecedented disruption. The focus should now shift
petrol prices: The curious case of petrol prices in India: Why international factors matter so little now – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/oil-gas/the-curious-case-of-petrol-prices-in-india-why-international-factors-matter-so-little-now/articleshow/81085823.cmsSynopsis This year the trend has become even more stark in view of the pandemic. With the Centre increasingly looking to ride on the
SC asks Centre to file affidavit on technical glitches in GSTN – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/sc-asks-centre-to-file-affidavit-on-technical-glitches-in-gstn/article33872233.ece?homepage=true A key contention of the tax-payers was that the relevant GST returns could not be filed due to tech glitches on the portal
India committed to bring natural gas under GST, says PM Narendra Modi – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/energy/oil-gas/india-committed-to-bring-natural-gas-under-gst-says-pm-modi/articleshow/81058049.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis He said India was spending 7.5 trillion rupees ($103.05 billion) over 5 years to build its oil and gas infrastructure. NEW DELHI: Asserting
Budget signals focus on improving tax compliance, increasing transparency–SURANJALI TANDON WRITES: –indian express
Clipped from: https://indianexpress.com/article/opinion/columns/union-budget-tax-compliance-economy-gdp-growth-7190263/ With little flexibility to change rates or to redefine the tax base, it is expected that the rate of growth in tax revenue
Reducing the compliance burden – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/reducing-the-compliance-burden/article33844150.ece?homepage=true A master document of all requirements and setting up single-window systems can be the starting point A reduction in regulatory compliance burden on
GST officers to immediately suspend taxpayer’s registration for ‘significant anomalies’ in sales return – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-officers-to-immediately-suspend-taxpayers-registration-for-significant-anomalies-in-sales-return/articleshow/80907569.cmsSynopsis The SOP said the taxpayers whose registrations are suspended would be required to furnish reply to the jurisdictional tax officer within 30 days
Taxpayers registration to be suspended for ‘significant anomalies’ in GST sales return–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/taxpayers-registration-to-be-suspended-for-significant-anomalies-in-gst-sales-return/story/431242.html The Central Board of Indirect Taxes and Customs (CBIC) has issued an SOP for suspension of registration of a person on the observance
‘Best judgment’ assessment awaits GST return non-filers – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/best-judgment-assessment-awaits-gst-return-non-filers/articleshow/80891908.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Sources said GST authorities have stepped up their drive to maximise collections weeks ahead of close of the financial year. This has been
Keep in mind exemption limit while complaining about few taxpayers: Revenue Secy–business today
Clipped from: https://www.businesstoday.in/current/economy-politics/keep-in-mind-exemption-limit-while-complaining-about-few-taxpayers-revenue-secy/story/430755.html The government had raised the threshold income for paying tax to Rs 5 lakh in the interim budget of 2019. According to data
