Page 35 - Latest Updates on Goods and Services Tax
Traders, civil society groups set up new panel to oppose GST passage in J&K
GST goes against the letter and spirit of the autonomy of the state says convener Siraj Ahmad
Opposition creates ruckus in J&K assembly over passage of GST bill
Jammu and Kashmir is the only state in the country where the GST has not been implemented so far
 "Opposition creates ruckus in J&K assembly over passage of GST bill")
GST crosses J&K hurdle, Assembly passes implementation resolution amid din
Resolution moved by state Finance Minister Haseeb Drabu, was adopted through a presidential order
 "GST crosses J&K hurdle, Assembly passes implementation resolution amid din")
GST system redesign neither desirable nor feasible, say tax experts
Experts want the GST Council to prepare a detailed road map for the next two-three years to provide an environment of tax certainty for businesses
 "GST system redesign neither desirable nor feasible, say tax experts")
Finance commission chief Singh blasts frequent tinkering with GST rates
He also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog
 "Finance commission chief Singh blasts frequent tinkering with GST rates")
Telcos' AGR dues to outweigh two-year breather for spectrum payment
Incumbent telcos Bharti Airtel and Vodafone Idea have said they would go for a review petition of the SC order, but they have limited time to move court
 "Telcos' AGR dues to outweigh two-year breather for spectrum payment")
The problem with investment scores
The various reports on investment climate of states do not match the ground reality
 "The problem with investment scores")
GST compensation delay: States considering legal action against Centre
Central govt official says will release funds before end of this month
 "GST compensation delay: States considering legal action against Centre")
States concerned over GST compensation delays, ask FM to speed up payments
Punjab is awaiting Rs 2,100 crore as compensation while arrears stand at Rs 2,000 crore
 "States concerned over GST compensation delays, ask FM to speed up payments")
Amit Mitra writes to FM, calls for 'urgent' GST meet to plug loopholes
GST revenue fell below the Rs 1-trillion mark for the third straight month in October, and was 5.3 per cent lower than the corresponding month last year, at Rs 95,380 crore
 "Amit Mitra writes to FM, calls for 'urgent' GST meet to plug loopholes")
HC issues notice to Centre over input tax credit denial to restaurants
GST rate on restaurants was cut from 18 per cent to 5 per cent in November 2017, but without any input tax credit
Simplifying GST: Govt plans mass outreach programme for return filers
FM Sitharaman meets stakeholders; pan-Indian initiative for new forms on December 7
 "Simplifying GST: Govt plans mass outreach programme for return filers")
Deadline for GST filing, returns extended to March 31; forms simplified
The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019
Commerce Ministry raises issue of notices to exporters for GST 'violation'
The commerce ministry has stated that the 'overzealous revenue collection' move by Directorate of Revenue Intelligence was against exporters
 "Commerce Ministry raises issue of notices to exporters for GST 'violation'")
Experts suggest Singapore GST model to ensure ease of compliance in India
Singapore's system (of GST) is very user-friendly and transparent in its accountancy practices
Oct GST collections remain subdued at Rs 95,380 cr despite festive season
This is the third consecutive month when GST mop-up remained below the Rs 1 trillion mark, despite October being a festive month
Food grain may be brought under GST, tax mechanism likely to be rejigged
Through this route, registered entities can pay GST on behalf of unregistered players
 "Food grain may be brought under GST, tax mechanism likely to be rejigged")
Gas and ATF likely to be brought under GST soon, says govt source
Experts said that the ATF price would come down if it is kept in the 18% GST bracket
 "Gas and ATF likely to be brought under GST soon, says govt source")
Experts call for multiple GST rate cuts in India citing Singapore example
Singapore has only one tax rate under GST- seven per cent -- on taxable goods and services while India has multiple slabs to charge the indirect tax
 "Experts call for multiple GST rate cuts in India citing Singapore example")
India growing fast, has tremendous potential, says Blackstone co-founder
Stephen A Schwarzman on why he is still bullish on India, how loss makes for the deepest learning's, and how corporate culture is the difference between winning and losing
 "India growing fast, has tremendous potential, says Blackstone co-founder")
