GST

GST Council LIVE: Taxing Zomato, Swiggy-like services, getting petrol, diesel under GST; FM chairs GST meet

GST Meeting LIVE: The GST Council is expected to discuss taxing food delivery applications and bringing petrol and diesel under the GST system.

GST

Odisha records 41% jump in August GST collection

The increase in collection was also due to the rise in prices of iron and steel and collection from matured GST demand made by tax officers after return scrutiny, the official said.

GST mop up tops Rs 1 lakh crore for second straight month; at Rs 1.12 lakh crore in August

India's economy grew by a record 20.1 per cent in April-June quarter, helped by a weak base of last year and sharp rebound in manufacturing and services sector.

GST collection August

Idea Exchange| A competent, powerful Union govt is clearly needed… But can’t rule which school gets toilet sitting in Delhi: Tamil Nadu Finance Minister PTR Palanivel Thiaga Rajan

"During the initial lockdown easing, the Union Home Ministry was trying to tell us when we could or couldn’t open barber shops. How does it make sense to have a national policy on barber shop opening?" Tamil Nadu Finance Mi

PTR Palanivel Thiaga Rajan, Tamil Nadu Finance Minister

Robust tax revenues this fiscal to improve tax-GDP ratio: Revenue secretary Tarun Bajaj

The governments’ gross tax collections (after refunds but before devolution) stood at Rs 5.31 lakh crore in Q1FY22, 97% higher than receipts of Rs 2.7 lakh crore in the Covid-affected Q1FY21 and 33% higher than the tax rece

GST

GST hit Kerala’s tax revenue, system needs rethink: KN Balagopal

The state government fears that the state's tax revenues would deteriorate once the five-year guaranteed GST compensation ends in June 2022.

gst

Robust Rise: July GST mop-up sees smart recovery

Gross GST collections, after remaining above the Rs 1-lakh-crore mark for eight months in a row, came in at Rs 92,849 crore in June (May transactions), reflecting the blow to the economy from a virtually pan-India lock-down.

gst

जुलाई में GST कलेक्शन 33% बढ़ा, 1.16 लाख करोड़ रुपये पर पहुंचा आंकड़ा

GST Collection in July: GST कलेक्शन जुलाई में 33 फीसदी बढ़कर 1.16 लाख करोड़ रुपये पर पहुंच गया.

GST collection in July increased 33 percent touches 1.16 lakh crore rupees

GST: End hibernation on dispute resolution

The GST Council must evolve the rules for adjudication in time, lest a solution on resolving disputes itself becomes dispute-ridden

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

PIL seeks setting up of GST tribunal to cut backlog of cases

“The constitution of National and other Benches of the appellate tribunal under Section 109 of the CGST Act, 2017 is an absolute necessity of the hour and the respondents (government) cannot drag its constitution for an ind

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

GST bonanza for old gold jewellery buyers; now pay tax only on difference between purchasing, selling price

When any product is purchased, it is loaded with GST. When a business entity resells the same product after refurbishing, tax is again charged on the value, resulting in double taxation

gold, GST

Centre front-loads GST aid; Rs 75,000 crore released to states

Of the Rs 75,000 crore released now, Karnataka will be the highest recipient (Rs 8,542 crore), followed by Maharashtra (Rs 6,501 crore), Punjab (Rs 5,723 crore) and Kerala (Rs 4,122 crore).

With the impact of the second Covid-19 wave waning and the vaccination drive making progress, parts of the economy are expected to look up from July.

Centre borrows, releases Rs 75,000 crore to compensate states for GST revenue shortfall

The Finance Ministry in a statement said the amount released is about half of the Rs 1.59 lakh crore that was agreed to be borrowed in the current fiscal by the Centre and passed on to the states and Union Territories on a ba

GST revenue shortfall

Special GST Council meet likely in August after monsoon session of Parliament

Earlier, the fitment panel of the Council had recommended continuation of the process of correcting inverted rate structures that dented the government revenue.

The Council will likely debate on streamlining GST rates and inverted duty structure, tightening anti-evasion and fake input tax credit availed by scamsters to boost revenues.

जून में GST कलेक्शन में बड़ी गिरावट, आठ महीने के बाद 1 लाख करोड़ रुपये से नीचे आया

पिछले आठ महीनों से हर महीने जीएसटी की वसूली एक लाख करोड़ रुपये से अधिक हो रही थी . मई में

GSTN enables functionality to lodge complaint of PAN misuse for GST registration

Any person whose PAN has been misused can lodge such a complaint. Following that, it would be sent to the concerned tax officer under whose jurisdiction the registration has taken place fraudulently for further action.

GSTN enables functionality to lodge complaint of PAN misuse for GST registration

Compensation: Unpaid GST dues to states for FY21 at Rs 74,398 crore, says West Bengal FM Amit Mitra

The GST Council meetings have become “acrimonious, vexing and almost toxic with erosion of mutual trust”, he said.

GST

GST was a mistake, time to undo the damage: Kerala FM KN Balagopal

Given that few states had witnessed their natural growth rates in recent years, it was legitimate to extend the GST compensation mechanism for five years beyond July 2022, he said.

(Of course, the 15th FC has sought to balance this by also rewarding efforts to control population even as it went by the 2011 census to determine inter se share of divisible-pool taxes among states).

Across the Aisle by P Chidambaram: Will we write an elegy for GST?

Enter Ms Nirmala Sitharaman. At every successive meeting of the Council there has been only more conflict, confrontation and, now, almost a complete breakdown of mutual trust and respect.

In case of establishment strength of more than 1,000 for all those with Rs 15,000 per month salary, only employee's share (12 per cent of wages) is credited by the Government to the EPFO.

How e-invoicing is helping businesses from remote areas to get connected with mainstream development

Although SMBs may not have been initially keen on adopting technology for generating their invoices, with the new mandate in place under GST, small business owners will need to relook at their digital accounting practices.

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Tax automation: Easing GST compliance and taxation with technology solutions

Leveraging Artificial Intelligence, Avalara aims to make a mark in the Indian market by addressing dynamic taxation and accounting needs of businesses

Manjula Muthukrishnan, MD —India operations, Avalara

GST compensation: States set to drive a hard bargain

At least six states – West Bengal, Kerala, Chhattisgarh, Punjab, Tamil Nadu and Odisha – are seeking extension of the compensation period and the relevant cesses on various 'demerit' goods.

Odisha has also sought an extension in compensation period beyond June next year.

May Mop-up: GST collection above Rs 1 lakh crore; revenues 65% higher than that in May last year

For the second year in a row, the Centre will borrow under special, relatively low-cost mechanism in 2021-22 to bridge a yawning shortfall in the GST compensation cess pool and transfer the funds to states as back-to-back loa

While the amount borrowed under the RBI-enabled mechanism last year was Rs 1.1 lakh crore — there was still a shortfall, Rs 60,000-Rs 70,000 crore by one estimate — the idea is to borrow some Rs 1.58 lakh crore in 2021-22.
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