Page 39 - Latest Updates on Goods and Services Tax
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")
Letter to BS: Modi govt must share data on Goods and Services Tax
The government would do well to try and enthuse recipients of such supply, and encourage suppliers to enter the non-compounding system
Two years of GST regime
During the past two years, the government has responded promptly to most representations of the trade
 "Two years of GST regime")
Two years on, still not a good and simple tax: What ails the GST regime
Find a fix for anti-profiteering measures, filing glitches, advance ruling mechanism, say experts
 "Two years on, still not a good and simple tax: What ails the GST regime")
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 collections in June fall to Rs 99,939 cr, down from Rs 1 trn in May")
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
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 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 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
2 years of GST: India Inc seeks less slabs, more items under its ambit
Batting for a single registration process pan-India, CII said building on the milestones of the past two years, it is time to implement GST 2.0
 "2 years of GST: India Inc seeks less slabs, more items under its ambit")
Govt should stop terming luxury cars sin goods, reduce GST burden: JLR
At present, the Indian luxury vehicles market is around 40,000 units annually, and JLR with its product portfolio addresses a segment of around 27,000 units
 "Govt should stop terming luxury cars sin goods, reduce GST burden: JLR")
Anand Mahindra bats for lower GST on automobiles, says would help economy
Mahindra echoed calls from the auto industry to reduce goods and services tax (GST) on vehicles
 "Anand Mahindra bats for lower GST on automobiles, says would help economy")
Will enforcement and easier compliance help Modi 2.0 improve GST revenue?
Booming economic growth is the only way to improve GST collections in the medium term, say FinMin officials. The trouble is that GDP expansion itself is on shaky ground currently
West Bengal FM Amit Mitra wants 1% GST rate for houses up to Rs 40 lakh
Amit Mitra raised certain contentious issues such as the fate of input tax credit if a proposal by a group of ministers on real estate is implemented
GoM favours paring GST to 5% on residential properties from 12% currently
The GoM also favoured slashing GST on affordable housing from 8 per cent to 3 per cent
 "GoM favours paring GST to 5% on residential properties from 12% currently")
The highs, hurdles and the grey areas of one and a half years of GST
Despite the changes in its journey so far, GST hasn't yet embraced petroleum, parts of the real estate and electricity. The required consensus over the issue still eludes the Council
 "The highs, hurdles and the grey areas of one and a half years of GST")
GST evasion worth Rs 388.96 bn detected during April-Oct in 2018-19
During the seven-month period, the CBIC recovered evasion worth Rs 94.8 billion in GST
 "GST evasion worth Rs 388.96 bn detected during April-Oct in 2018-19")
The new GST test
Non-BJP states now have enough muscle to block resolutions
 "The new GST test")
Advance rulings system under GST will take time to resolve, says CBIC
The CBIC member said that the issue will take time to get resolved
 "Advance rulings system under GST will take time to resolve, says CBIC")
