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CGST

Centre to release another Rs 35,000 cr compensation to states soon

Centre to release another Rs 35,000 cr compensation to states soon

Mon, Feb 10, 2020

The Centre will soon release another Rs 35,000 crore to states to compensate for the revenue loss on account of GST rollout, an official said. Under the Goods and Services Tax (GST) law, states are guaranteed compensation for revenue loss for 5 years if their revenue does not increase 14 per cent on the base year of 2015-16

GST crackdown: This company sealed for tax evasion; invoices not in order

GST crackdown: This company sealed for tax evasion; invoices not in order

Mon, Dec 24, 2018

The inspection team sealed the company as no proper invoices have been issued till date, the officials said.

GST evasion of Rs 509 crore in Mumbai, over Rs 308 crore seized

GST evasion of Rs 509 crore in Mumbai, over Rs 308 crore seized

Tue, Apr 10, 2018

The Mumbai Central Goods and Service Tax (CGST) has detected tax evasion amounting to Rs 509 crore and have recovered Rs 381.57 crore from non-filers of tax since the implementation of CGST in the country.

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GST mop-up,compliance unlikely to improve near-term: Report

GST mop-up,compliance unlikely to improve near-term: Report

Tue, Nov 28, 2017

"Both collection as well as compliance of GST remains low, with the compliance being at around 50 per cent and is unlikely to increase significantly till the complete framework including returns matching, e-way bill, and reverse charges, are implemented fully," it noted.

GST collections dip in October to Rs 83,346 cr; 95.9 lakh taxpayers registered

GST collections dip in October to Rs 83,346 cr; 95.9 lakh taxpayers registered

Mon, Nov 27, 2017

The Finance Ministry said that the states' revenues have been fully protected taking base year revenue as 2015-16, providing a projected revenue growth rate of 14%.

GST revenue likely to surge in coming months: FM Jaitley

GST revenue likely to surge in coming months: FM Jaitley

Thu, Sep 28, 2017

Finance Minister Arun Jaitley today said the Goods and Services Tax (GST) collections in the first two months have met the target and going forward the revenue will see further surge.

GST revenues cross Rs 92,000 crore; nearly 40 lakh returns filed in July

GST revenues cross Rs 92,000 crore; nearly 40 lakh returns filed in July

Tue, Aug 29, 2017

Two months since the GST rollout and here is how much revenue was brought in by the new tax regime.

GSTN portal to be ready for invoice uploading from July 24

GSTN portal to be ready for invoice uploading from July 24

Sun, Jul 16, 2017

The Goods and Services Tax has kicked in from July 1 and so far, the GST Network, the company handling the IT backbone for new tax regime, has been facilitating registration of businesses.

Govt says new MRP should consider input tax credit under GST

Govt says new MRP should consider input tax credit under GST

Sun, Jul 09, 2017

The government on Saturday said the new MRP on products manufactured, packed or imported before July 1 should take into consideration extra availability of input tax credit under GST.

This app will help you find your GST rates on various goods and supplies

This app will help you find your GST rates on various goods and supplies

Sat, Jul 08, 2017

To bring in proper understanding of GST rates for Indian, the Finance Ministry has launched a GST Rates Finder app.

A list of challenges threatening GST rollout

A list of challenges threatening GST rollout

Sat, Jun 10, 2017

A small-scale manufacturing company with operations in only one state will have to file a minimum of 37 returns instead of the current 13 once the goods and services tax (GST) goes live from July 1, increasing work for industry, accountants and banks, according to an IndiaSpend analysis.

GST cloud hangs over excise mop-up as dealers hold up tight

GST cloud hangs over excise mop-up as dealers hold up tight

Sun, May 14, 2017

The collections of excise duty may take hit as dealers are refraining from purchasing goods from manufacturers as they are not sure about tax credits and rates under GST, which is slated for July 1 launch.

Education, healthcare, pilgrimages not to be taxed under GST

Education, healthcare, pilgrimages not to be taxed under GST

Sun, Apr 02, 2017

Adhia said the endeavour would be to maintain the current tax incidence on a commodity or service at the same level in the new Goods and Services Tax (GST) regime.

Here are 17 key features of supplementary GST bill passed by Lok Sabha

Here are 17 key features of supplementary GST bill passed by Lok Sabha

Thu, Mar 30, 2017

The Lower House of Parliament on Wednesday gave its approval to four bills of the Goods and Service Tax (GST) stipulated to be rolled out by July 1. The Central GST bill was introduced in the Lok Sabha on March 27 and was one of the bills passed by the government.

Lok Sabha approves four supporting GST Bills

Lok Sabha approves four supporting GST Bills

Wed, Mar 29, 2017

The parliament also approved GST Bill related to compensation.

GST Bills may be introduced in Lok Sabha on Monday

GST Bills may be introduced in Lok Sabha on Monday

Sat, Mar 25, 2017

The Union Cabinet already cleared the four supplementary GST legislations -- CGST, IGST, UTGST and Compensation Law -- for introduction and passage in the ongoing session of Parliament.

Council approves State, Union Territory GST laws: Arun Jaitley

Council approves State, Union Territory GST laws: Arun Jaitley

Thu, Mar 16, 2017

The Goods and Service Tax Council on Thursday approved the State GST and Union Territory GST laws which were the final two draft laws that needed to be passed.

15 new features of CGST, IGST finalised by the GST Council

15 new features of CGST, IGST finalised by the GST Council

Sat, Mar 04, 2017

The GST Council in its meeting held on Saturday in Vigyan Bhawan in New Delhi under the Chairmanship of Finance Minister Arun Jaitley has approved the draft CGST Bill and the draft IGST Bill

Central govt, states broadly agree on CGST, IGST provisions

Central govt, states broadly agree on CGST, IGST provisions

Sat, Mar 04, 2017

Union Finance Minister Arun Jaitley met with his state counterparts today and discussed the GST legislation to be adopted by Union Territories.

Model GST Bill to go for 20% peak tax, slabs intact for now

Model GST Bill to go for 20% peak tax, slabs intact for now

Thu, Mar 02, 2017

The GST Council has proposed to raise the peak tax rate to 20%, from the current 14%, in the model goods and services tax Bill to preclude the requirement of approaching Parliament for any change in rates in future.

We were having one of the best years of Raymond before demonetisation hit us: Sudhandhu Pokhriyal, Raymond

We were having one of the best years of Raymond before demonetisation hit us: Sudhandhu Pokhriyal, Raymond

Mon, Feb 27, 2017

Apart from demonetisation Pokhriyal further spoke on GST, Textile Minister Smriti Irani and how US President Donald Trump's decision to end the Trans-Pacific Partnership (TPP) is beneficial to them.

MHCV sales to post steep decline in sales in FY18: Report

MHCV sales to post steep decline in sales in FY18: Report

Mon, Feb 06, 2017

Despite the Budget's focus on the rural sector MHCV sales is expected to see a substantial decline in CV sales in FY18.

GST protest: 70,000 tax officers to wear black bands today

GST protest: 70,000 tax officers to wear black bands today

Sun, Jan 29, 2017

About 70,000 tax officers and employees in the country will wear black bands at work on Monday January 30, 2017, on Martyrs Day, to protest some recent decisions taken by the GST Council headed by Finance Minister Arun Jaitley.

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