Page 38 - Latest Updates on Goods and Services Tax
GST collection over Rs 1 trillion in July despite subdued CGST and SGST
However, the central and state portions remained subdued, posing a challenge for the revenue target for the financial year
 "GST collection over Rs 1 trillion in July despite subdued CGST and SGST")
Taxation blues
CAG raises valid issues on revenue system inadequacies
 "Taxation blues")
Letter to BS: Slowdown in tax collection is not because of evasion
Government-owned companies which manufacture a very large amount of goods and services do not evade
GST collections in July cross Rs 1-trillion-mark after dropping in June
Central GST was Rs 17,912 crore; and SGST at Rs 25,008 crore
 "GST collections in July cross Rs 1-trillion-mark after dropping in June")
15th Fin Commission rejects central tax pool demand by Delhi, Puducherry
The Commission will not consider their memorandums
 "15th Fin Commission rejects central tax pool demand by Delhi, Puducherry")
2 years after roll-out, GST glitches still exist, says CAG report
Report also points to slowdown in revenues in FY18
 "2 years after roll-out, GST glitches still exist, says CAG report")
GSTN should test system, fix deficiencies before roll-out to public: CAG
Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime
 "GSTN should test system, fix deficiencies before roll-out to public: CAG")
Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%
Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities was exempted from GST
 "Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%")
GST rate on EVs cut from 12% to 5%; reduced rate effective from August 1
The GST Council has also approved exemption from GST on hiring of electric buses by local authorities
 "GST rate on EVs cut from 12% to 5%; reduced rate effective from August 1")
Petroleum products should be brought under GST, suggests Assocham
The two-year period for keeping petroleum products outside GST is almost over, said Assocham
 "Petroleum products should be brought under GST, suggests Assocham")
GST collection of states rises to Rs 5.18 trillion in FY19: FM Sitharaman
In a written reply to a question in the Lok Sabha, Sitharaman said concerted efforts have been made to improve tax compliance
 "GST collection of states rises to Rs 5.18 trillion in FY19: FM Sitharaman")
Sitharaman's first Budget gives breather for delay in payments towards GST
The current mechanism of filing returns is being replaced by simplified forms that would come into operation in phases
 "Sitharaman's first Budget gives breather for delay in payments towards GST")
Amnesty offer for pre-GST litigation
The scheme is attractive, since the tax relief is 40-70% of the amount in dispute
 "Amnesty offer for pre-GST litigation")
GST rates distortionary, procedures complicated: Bengal FM Amit Mitra
Mitra said the peak rate of 28% should be completely abolished
 "GST rates distortionary, procedures complicated: Bengal FM Amit Mitra")
GST benefits will start accuring to economy in the coming yrs, say experts
Appreciating the efforts of the GST Council, Lakshmikumaran said that it would help those who are on the right side of the law and bring to book habitual offenders
GST collection falls below Rs 1-trillion mark, first time in four months
Govt might push data intelligence, crackdown on evasion to boost collections
 "GST collection falls below Rs 1-trillion mark, first time in four months")
GST collections in June fall to Rs 99,939 cr, down from Rs 1 trn in May
While the GST collections in June were lower than Rs 1,00,289 crore in May, they were higher than Rs 95,610 crore receipts in the same month of the previous year
GST may become two-tier tax with merger of 12% and 18% slabs: Jaitley
Jaitley said 20 states are already showing more than a 14% increase in their revenues and do not require the centre to compensate them for revenue loss arising out of GST implementation
 "GST may become two-tier tax with merger of 12% and 18% slabs: Jaitley")
Top events today: New train timings, GST anniversary, RTGS charges, & more
From new Indian Railways train timings to GST anniversary, here are some of the most important news events scheduled for today
Two years of GST regime
During the past two years, the government has responded promptly to most representations of the trade
