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Swiggy, Zomato to pay 5% GST from today: What are the new changes 

With the new rules, food delivery platforms are expected to pay 5% GST on restaurant services that they provide.
The decision is likely to affect smaller players, restaurants that are earning under <span class='webrupee'>₹</span>20 lakh per annum, according to the National Restaurant Association of India (NRAI).(File Photo)
The decision is likely to affect smaller players, restaurants that are earning under 20 lakh per annum, according to the National Restaurant Association of India (NRAI).(File Photo)
Published on Jan 01, 2022 07:35 AM IST
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By, Hindustan Times, New Delhi

GST Council defers tax hike on textiles

The decision, said Union finance minister Nirmala Sitharaman, was taken after Gujarat approached her with a proposal to defer the September decision of the council to put certain textile items under a higher tax slab to correct the inverted duty structure.
Finance Minister Nirmala Sitharaman during a press conference, at National Media Centre in New Delhi, India, on Friday. (Sanjeev Verma/HT PHOTO)
Finance Minister Nirmala Sitharaman during a press conference, at National Media Centre in New Delhi, India, on Friday. (Sanjeev Verma/HT PHOTO)
Published on Dec 31, 2021 10:46 PM IST
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ByRajeev Jayaswal

GST hike on textiles from 5% to 12% deferred: Nirmala Sitharaman

The GST hike would have impacted small traders dealing in the textile sector, states said. 
In the pre-budget meeting chaired by finance minister Nirmala Sitharaman, states like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu said that they are not in favour of the GST hike.(ANI)
In the pre-budget meeting chaired by finance minister Nirmala Sitharaman, states like Gujarat, West Bengal, Delhi, Rajasthan and Tamil Nadu said that they are not in favour of the GST hike.(ANI)
Published on Dec 31, 2021 02:18 PM IST
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By | Written by Poulomi Ghosh

States seek fiscal aid, extension of tax compensation

According to reports, most of the states also want their borrowing limits to be enhanced to 5% of their gross state domestic product (GSDP) without any condition and payment of their past GST claims.
Representative Image
Representative Image
Published on Dec 31, 2021 04:03 AM IST
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ByRajeev Jayaswal, New Delhi

Small biz may get GST compliance relief

Currently, the turnover threshold for GST registration is 40 lakh for goods and 20 lakh for services.
Representational Image
Representational Image
Updated on Dec 30, 2021 04:30 AM IST
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BySubhash Narayan

GST receipts 1.31 lakh crore in Nov, 2nd best so far

This is the fifth consecutive month in which collections have crossed the 1 lakh crore benchmark.
Representative Image
Representative Image
Published on Dec 02, 2021 12:02 AM IST
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ByRajeev Jayaswal

Centre may bring natural gas within the GST ambit

Petroleum secretary Tarun Kapoor confirmed the development. “There is a demand from the industry [to impose GST on natural gas], which is also supported by the MoPNG. But, then it has to go to the GST Council,” he said, referring to the GST body comprising state and central representatives.
Petroleum products such as crude, diesel, petrol, natural gas and aviation turbine fuel (ATF) are awaiting the GST Council’s approval to be included under the GST net.(Reuters/ Representational)
Petroleum products such as crude, diesel, petrol, natural gas and aviation turbine fuel (ATF) are awaiting the GST Council’s approval to be included under the GST net.(Reuters/ Representational)
Updated on Jan 05, 2021 05:34 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

‘GST collection up because of economic activity revival’: Finance secretary Ajay Bhushan Pandey

Finance secretary rules out the theory of pent-up demand being responsible for the higher GST collection , crediting it to a rebound in business activity and better compliance
Updated on Jan 04, 2021 08:22 AM IST
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Hindustan Times, Delhi | ByRajeev Jayaswal

GST collection for December shows economy is on fast track recovery, says Finance Secretary

Dr Ajay Bhushan Pandey said a record high GST collection of Rs 1,15,174 crore in December is due to economic recovery along with better compliance following the crackdown on malpractices.
The Finance Secretary explained that higher GST collection is also the result of higher collection efficiency and the trend should continue in the coming months too.(PTI representative image)
The Finance Secretary explained that higher GST collection is also the result of higher collection efficiency and the trend should continue in the coming months too.(PTI representative image)
Published on Jan 03, 2021 09:21 PM IST
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New Delhi | ByAsian News International | Posted by Deepali Sharma

GST authority in Delhi nabs one for 831 crore tax evasion

Based on the evidence gathered, stocks seized and confessional statements recorded the total duty evasion as estimated to be approximately 831.72 crore, it said.
File photo: Image for representation.(REUTERS)
File photo: Image for representation.(REUTERS)
Updated on Jan 04, 2021 05:39 AM IST
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Hindustan Times, New Delhi | By

GST collections at all-time high of over Rs 1.15 lakh crore in December

The gross GST revenue collected in the month of December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Goods and Services Tax from July 1, 2017, the Finance Ministry said in a statement.
The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh.(PTI)
The total number of GSTR-3B Returns filed for the month of November up to 31st December 2020 is 87 lakh.(PTI)
Updated on Jan 01, 2021 02:25 PM IST
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New Delhi | ByPress Trust of India | Posted by Srivatsan K C

Govt extends deadline to file annual GST returns to February 28, 2021

The government on Wednesday also extended deadlines for filing personal income tax returns by 10 days
Representational image.(PTI)
Representational image.(PTI)
Updated on Dec 31, 2020 05:15 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

GST revenue may exceed Rs 1 lakh crore for third consecutive month

According to available data so far, GST collections look good, with increased demand from consumers in the festive season, two officials with direct knowledge of the matter said, requesting anonymity. The finance ministry will release GST revenue data on Friday.
Rajesh Gupta, co-founder and director of accounting software firm Busy Infotech, expects GST collection in December to exceed the November figure of Rs 1,04,963 crore.(PTI)
Rajesh Gupta, co-founder and director of accounting software firm Busy Infotech, expects GST collection in December to exceed the November figure of Rs 1,04,963 crore.(PTI)
Updated on Dec 30, 2020 04:59 AM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Mahatma Gandhi’s bowl, cutlery to be auctioned in UK

Gandhi heirlooms -- letters, photographs, portraits, books, sandals, spectacles among other items -- attract collectors of all sorts, both institutions and individuals, throughout the world.
The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)
The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)
Updated on Dec 29, 2020 08:11 PM IST
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London | ByAsian News International | Posted by Shankhyaneel Sarkar

‘Not getting GST dues, even BJP-ruled states unhappy’: Hemant Soren

Despite the talk about cooperative federalism, Soren, citing his experience as CM over the past year, said that the relationship between the Centre and the state is not healthy
Jharkhand chief minister Hemant Soren, whose government completes one year tomorrow, also lamented the poor state of opposition in the country and called for “collective responsibility” to take on the BJP. (Photo@HemantSorenJMM)
Jharkhand chief minister Hemant Soren, whose government completes one year tomorrow, also lamented the poor state of opposition in the country and called for “collective responsibility” to take on the BJP. (Photo@HemantSorenJMM)
Updated on Dec 28, 2020 04:40 PM IST
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Hindustan Times, Ranchi | By

New GST rule is not applicable for MSMEs

The Central Board of Indirect Taxes and Customs (CBIC) last week introduced a change in the GST rules that restricted the use of input tax credit (ITC) for discharging GST liability to 99%, the official said requesting anonymity.
This rule will help to control fake invoices fraudsters who avail and pass on ITC by dummy, fake and dormant entities which show high turnovers.(PTI)
This rule will help to control fake invoices fraudsters who avail and pass on ITC by dummy, fake and dormant entities which show high turnovers.(PTI)
Updated on Dec 28, 2020 02:46 AM IST
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Hindustan Times, New Delhi | By

‘New GST rule doesn’t apply to small firms’: Ministry official

It is also not applicable to registered entities which have received a refund of more than Rs 1 lakh in the preceding financial year on account of export.
Image for representation.
Image for representation.
Updated on Dec 27, 2020 08:45 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

Businesses with monthly turnover of over 50 lakh to pay at least 1% GST liability in cash

The Central Board of Indirect Taxes and Customs has introduced Rule 86B in Goods and Services Tax (GST) rules which restricts use of input tax credit for discharging GST liability to 99 per cent.
While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included(PTI)
While calculating the turnover threshold, sales from GST exempt goods and zero rates supply would not be included(PTI)
Published on Dec 23, 2020 03:48 PM IST
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New Delhi | ByPress Trust of India | Posted by Ayshee Bhaduri

Finance ministry releases 8th installment of Rs 6,000 cr to states to meet GST compensation shortfall

Of this, Rs 5,516.6 crore has been released to 23 states and an amount of Rs 483.4 crore has been released to the three union territories with legislative assembly (Delhi, Jammu & Kashmir and Puducherry) which are members of the GST Council.
The government had set up a special borrowing window in October to meet the estimated shortfall of Rs 1.1 lakh crore in revenue arising on account of implementation of GST.(PTI)
The government had set up a special borrowing window in October to meet the estimated shortfall of Rs 1.1 lakh crore in revenue arising on account of implementation of GST.(PTI)
Published on Dec 21, 2020 03:39 PM IST
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New Delhi | ByAsian News International | Posted by Srivatsan K C

Mandatory FASTags, Quarterly GST filing and WhatsApp services: Rules that are changing from Jan 1

From tomorrow – January 1, 2021, some rules on quarterly GST filing, mandatory FASTags and discontinuation of WhatsApp services on some phones are going to change. Here’s a look at the new rules before their rollout on January 1, 2021.
Here’s a look at the new rules before their rollout on January 1, 2021.(File photo)
Here’s a look at the new rules before their rollout on January 1, 2021.(File photo)
Updated on Dec 31, 2020 10:29 AM IST
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Hindustan Times, New Delhi | Byhindustantimes.com| Edited by Mallika Soni

Centre releases Rs 42,000 crore to states towards GST compensation shortfall

In its statement, the finance ministry said that Rs 6,000 crore has been released on Monday, the latest in a series of weekly instalments, of which Rs 5516.60 crore has been released to 23 states and Rs 483.40 crore has been released to three Union territories of Delhi, Jammu and Kashmir, Puducherry.
A shortfall of Rs 1.10 lakh crore in revenue was estimated on account of implementation of GST following which a special borrowing window was enabled in October this year.(PTI)
A shortfall of Rs 1.10 lakh crore in revenue was estimated on account of implementation of GST following which a special borrowing window was enabled in October this year.(PTI)
Published on Dec 14, 2020 08:25 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Srivatsan K C

GST officers arrest 140 persons on charges of fake invoicing, focus on under-valuation of transported goods

In its nationwide drive against fake invoice frauds since the second week of November, the Directorate General of GST Intelligence (DGGI) have also unearthed cases of GST evasion by way of transporting under-valued and unaccounted goods.
Revenue Department sources said some companies of Delhi and Himachal are under investigation for under-valuation of goods and its transportation through transporters of Ludhiana and Jalandhar.(PTI)
Revenue Department sources said some companies of Delhi and Himachal are under investigation for under-valuation of goods and its transportation through transporters of Ludhiana and Jalandhar.(PTI)
Published on Dec 13, 2020 07:35 PM IST
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New Delhi | ByPress Trust of India | Posted by Srivatsan K C

Govt cancels GST registration of 163k biz entities over non-filing of tax returns

To handle the menace of fake firms and circular trading entities, GST officials have cancelled 1,63,042 registrations in the month of October and November this year due to non-filing of GSTR-3B returns for more than six months
In Ahmedabad zone alone, 11,048 GST registrations have been cancelled. In Chennai zone, 19,586 suo motu cancellations have been done so far in respect of GST taxpayers who have failed to file returns for more than six months.(PTI)
In Ahmedabad zone alone, 11,048 GST registrations have been cancelled. In Chennai zone, 19,586 suo motu cancellations have been done so far in respect of GST taxpayers who have failed to file returns for more than six months.(PTI)
Updated on Dec 12, 2020 01:22 PM IST
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New Delhi, Hindustan Times | ByRajeev Jayaswal

Sixth installment of 6,000 cr released to states/UTs as loan to meet GST compensation shortfall

The central government is borrowing this amount on behalf of the states and UTs through a special borrowing window to meet the estimated shortfall of 1.10 lakh crore in revenue arising on account of GST implementation.
The Finance Ministry has released the weekly installment of <span class='webrupee'>₹</span>6,000 crores to the states to meet the Goods and Services Tax compensation shortfall
The Finance Ministry has released the weekly installment of 6,000 crores to the states to meet the Goods and Services Tax compensation shortfall
Published on Dec 09, 2020 09:04 PM IST
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New Delhi | ByAsian News International | Posted by Ayshee Bhaduri

Relief for small businesses: Now, only four GSTR-3B returns a year instead of 12

Also, the taxpayers’ professional expenses on return filing would get reduced significantly for they would be required to file just half the number of returns in place of 16 at present
Representational Image.(File photo)
Representational Image.(File photo)
Updated on Dec 08, 2020 12:32 PM IST
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Hindustan Times, New Delhi | ByRajeev Jayaswal

GST investigators uncover fraudulent transactions of Rs 290 cr

As per a DGGI release, searches were conducted on a Mumbai-based firm, M/s M & M Advisors and Consultants Private Limited, as follow-up of the detection of a non-existent advertising firm in Dhule.
The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.(PTI)
The searches uncovered documents which revealed the company was engaged in licensing rights of film production houses for broadcast on national and international channels.(PTI)
Published on Dec 07, 2020 04:36 PM IST
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Nagpur | ByPress Trust of India | Posted by Srivatsan K C

Govt launches QRMP scheme: From January 1, file only 4 GSTR-3B returns instead of 12

Sources in the department of revenue (DoR) have said the scheme would impact 9.4 million taxpayers, who constitute 92% of the total tax base of the Goods and Services Tax (GST).
Union Finance Minister Nirmala Sitharaman addressing a press conference on the outcomes of 42nd GST Council at National Media centre in New Delhi, India, on Monday, October 5, 2020. (Photo by Arvind Yadav/ Hindustan Times)
Union Finance Minister Nirmala Sitharaman addressing a press conference on the outcomes of 42nd GST Council at National Media centre in New Delhi, India, on Monday, October 5, 2020. (Photo by Arvind Yadav/ Hindustan Times)
Updated on Dec 07, 2020 12:21 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Karan Manral

GST transactions worth Rs 1 lakh crore being probed

DGARM has captured thousands of suspicious transaction carried by business entities between July 1, 2017 and March 31, 2020 and shared the data with investigative agencies for action. Based on such inputs, the government launched a massive crackdown against GST frauds three weeks ago and arrested 104 people, three officials said, requesting anonymity.
West Bengal finance minister Amit Mitra in August last year wrote a letter to Union finance minister Nirmala Sitharaman wherein he said the total GST fraud could have already crossed the Rs 1 lakh crore mark since July 2017.(File Photo)
West Bengal finance minister Amit Mitra in August last year wrote a letter to Union finance minister Nirmala Sitharaman wherein he said the total GST fraud could have already crossed the Rs 1 lakh crore mark since July 2017.(File Photo)
Updated on Dec 07, 2020 05:04 AM IST
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Hindustan Times, New Delhi | ByNeeraj Chauhan and Rajeev Jayaswal

Jharkhand man chased for Rs 3.5cr GST fraud turns out to be a daily wage worker

Ladun clarified that he had no clue how was he made the MD of a company when his MGNREGA enlisting earned him no more than Rs 198 a day, making it an everyday struggle to make both ends meet
A daily wage labourer near Jamshedpur has been dragged into a GST fraud case involving Rs 3.5 crore.(HT Photo?Representational use)
A daily wage labourer near Jamshedpur has been dragged into a GST fraud case involving Rs 3.5 crore.(HT Photo?Representational use)
Updated on Dec 05, 2020 12:02 PM IST
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Hindustan Times, Jameshedpur | ByDebashish Sarkar | Edited by Abhinav Sahay

All states accept Rs 1.1 lakh crore borrowing option to meet GST shortfall

Jharkhand has become the latest State to go for Option-1 and it will get Rs. 1,689 crore through special borrowing window to meet the GST implementation shortfall.
Union finance minister Nirmala Sitharaman(Sanjeev Verma/HT PHOTO)
Union finance minister Nirmala Sitharaman(Sanjeev Verma/HT PHOTO)
Updated on Dec 05, 2020 11:03 AM IST
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Hindustan Times, New Delhi | ByHindustantimes.com | Edited by Kanishka Sarkar
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