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Tuesday, Nov 24, 2020
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Goods and services tax

Nov 20, 2020 03:53
E-invoicing is being implemented in a phased manner. It will be mandatory for all from the next financial year as part of the government’s ongoing efforts towards ‘Ease of Doing Business’ and ‘Honouring the Honest’. read more
Nov 08, 2020 00:43
Overall GST collections that saw their positive growth (this financial year) of 4% in September, after having plunged by 72% in March, posted a year-on-year growth of over 10% in October, when they crossed ₹1.05 lakh crore. read more
Nov 07, 2020 16:06
Besides positive GST collections since September, numbers of states having negative year-on-year revenue growth have also reduced from 15 in September to seven in October, Union finance ministry officials said requesting anonymity. read more
Oct 17, 2020 12:37
With the Centre agreeing to borrow Rs 1.1 lakh crore from a special window of the Reserve Bank of India (RBI) and on-lend it to the states, some of the seven states that disagreed to the initial plan might now sign on. read more
Oct 11, 2020 16:18
Ten states are demanding that a dispute resolution system be set up to tackle differences over GST. They have refused to accept either of two options suggested by the Centre to make up the shortfall. read more
Sep 09, 2020 00:03
An acceptance by states, which is likely to be confirmed to the Union finance ministry soon, will put an end to the controversy surrounding the GST compensation payments. read more
Sep 08, 2020 00:02
On August 29, the Centre detailed the two options for GST compensation in a written communication to the states. Several states said they were not happy with the options and would not abide by them. read more
Aug 27, 2020 17:35
The finance minister also blamed the coronavirus pandemic for low collection of the Goods and Services Tax. The government said that the deficit stands at Rs 2.35 lakh crore. read more
Aug 26, 2020 16:51
The GST Council had recommended that the move should have retrospective effect – from July 1, 2020 – as it was the correct position of law. read more
Aug 19, 2020 17:09
Earlier, Union finance minister Nirmala Sitharaman had said after the 40th meeting of the Council on June 12 that the August 27 meeting would be special, as it would discuss a single matter. read more
Jul 30, 2020 00:17
As per GST law, states have been assured a 14% increase in their annual GST revenue, but GST collection in 2020-21 is unlikely see any growth, they added. read more
Jul 17, 2020 14:12
Low-cost carrier IndiGo, under its newly introduced “6E double booking scheme”, will allow fliers to book air tickets for twin seats from the airline’s website, starting July 24. read more
Feb 01, 2020 08:52
To augment revenue collection, the Revenue Secretary revised GST collection target to Rs 1.25 lakh crore for the last month of this financial year. read more
Dec 01, 2019 07:38
Sitharaman said she has travelled across the country, meeting officers and discussing taxation related issues to ensure their actions do not amount to any perception of harassment. The Centre is also talking to states regarding simplifying and rationalizing... read more
Sep 17, 2019 17:17
A government study, attached to the agenda of a Sept. 20 GST panel meeting, has said the total annual revenue loss could be as much as 500 billion rupees ($6.95 billion), if the panel decided to lower tax rates for the auto sector to 18% from 28%. read more