Page 40 - Latest Updates on Goods and Services Tax
Goods can be impounded for lapses under GST, says Kerala High Court
The court made observations on larger and harsh outcomes originating from minor lapses
 "Goods can be impounded for lapses under GST, says Kerala High Court")
GST collection crosses Rs 1-trillion mark in October: Arun Jaitley
After it touched the one trillion mark for first time in April 2018, GST collections had missed the target for five straight months
 "GST collection crosses Rs 1-trillion mark in October: Arun Jaitley")
Centre, states divide Rs 320 bn IGST in Oct; states to get over Rs 150 bn
As much as Rs 290 bn was settled in September, Rs 120 bn in August, Rs 500 bn in June and Rs 350 bn in February this year
Now, vehicle owners required to pay 18% GST for pollution check certificate
Since the services of testing of pollution are provided on payment of service charge, GST is payable at an applicable rate, AAR said
 "Now, vehicle owners required to pay 18% GST for pollution check certificate")
Finance ministry extends deadline for filing Sep GST returns to Oct 25
With this extension, businesses which wish to claim Input Tax Credit (ITC) benefit for July 2017-March 2018 period can do so till October 25
 "Finance ministry extends deadline for filing Sep GST returns to Oct 25")
Tamil Nadu asks govt to settle Rs 56-bn IGST dues, give Rs 20-bn assistance
Tamil Nadu CM Edapaddi K Palaniswamy on Monday met PM Narendra Modi at New Delhi and submitted a 20-point memorandum
 "Tamil Nadu asks govt to settle Rs 56-bn IGST dues, give Rs 20-bn assistance")
Bringing petrol and diesel under GST impractical: NITI Aayog Vice Chairman
Ever since GST was rolled out on July 1 last year, there had been talk of bringing it under the GST with top government officials and ministers supporting the need for such a move
 "Bringing petrol and diesel under GST impractical: NITI Aayog Vice Chairman")
Petrol, diesel to be under GST soon, says Dharmendra Pradhan
Oil prices are on the decline over last few days during which it has come down by one rupee aggregately
 "Petrol, diesel to be under GST soon, says Dharmendra Pradhan")
J&K HC issues notice to Centre, state officials over blocked IGST refunds
The authorities are linking the issue with personal ledger accounts
More agents of foreign companies to approach courts against 18% IGST
IGST is levied on these agents under Section 13(8)(b) of the IGST Act
 "More agents of foreign companies to approach courts against 18% IGST")
Govt spent Rs 1.32 bn on GST advertisements; print media got biggest share
Ahead of its rollout, the Centre had gone for a media blitz to create awareness about the new tax regime
 "Govt spent Rs 1.32 bn on GST advertisements; print media got biggest share")
At Rs 939.6 billion, GST collection in August is fiscal's lowest
The government attributed the dip in collections to the probable postponement of purchase for items for which the tax rates were reduced by the GST council
 "At Rs 939.6 billion, GST collection in August is fiscal's lowest")
'On intermediary services, service provider must discharge GST liability'
The supply of the intermediary service is in the taxable territory
 "'On intermediary services, service provider must discharge GST liability'")
GST concession but only halfway
The latest exemption for services supplied by an establishment of a person in India to any other of that person outside India is an improvement over the earlier position when tax was payable
GST collections surge in July, miss Rs 1-trn target for third time in FY19
Since its rollout 13 months earlier, the new indirect tax has yielded Rs 1 trillion only in April 2018
 "GST collections surge in July, miss Rs 1-trn target for third time in FY19")
GST revenue shortfall: The Centre could be staring at a Rs 517 billion hole
Data accessed from finance ministry through the Right to Information Act suggests so
 "GST revenue shortfall: The Centre could be staring at a Rs 517 billion hole")
What gets cheaper as new GST rates kick in today? Here's a complete list
Apart from tax on sanitary pads being brought down from 12 per cent to zero, the GST council has recommended rate cut on an array of products which will be effective from this Friday
GST rates cut for aam aadmi: Peak rate basked snipped; returns made easier
Rates on several items reduced; more sweeteners likely for MSMEs in Aug 4 meet
 "GST rates cut for aam aadmi: Peak rate basked snipped; returns made easier")
It'll happen in phases: Hasmukh Adhia on bringing petro products under GST
The finance ministry has expressed its intention to include natural gas and ATF within the purview of the goods and services tax soon
 "It'll happen in phases: Hasmukh Adhia on bringing petro products under GST")
GST: A common man's view
Consumers have reasons to look forward in the second year of this reform
