What is Goods and Services Tax

The outcomes achieved on various work streams at the Finance Ministers and Central Bank Governors' meeting reflect the perspectives of both developing and developed nations

Such damages are the sum that one party receives when the other party fails to meet provisions of a contract

Paper published by IPPR suggests new indirect tax regime led to increasing economic integration among states

The applicant, a manufacturer, had argued that 18% GST should be applicable

The data shows collections in the pandemic year FY21 declined, but bounced back in subsequent years, indicating resilience in the economy amid external headwinds

CEA V Anantha Nageswaran had said that to get to 7 percent GDP growth in FY23, the January-March quarter will have to register a 5.1% real GDP growth

The panel will likely propose the classification at the next GST Council meeting, which is expected to be held at the end of May or in June

As per the proposal, each state appellate tribunal will have two division benches and thus will be able to deal with more appeals, the official noted

The govt contends that Q3 GDP will be revised upwards. Many experts believe rural economic growth is still slow. Data shows both could be right

With this, the monthly GST revenues remained over Rs 1.4 trillion for 12 straight months

Normally February, being a 28-day month, witnesses a relatively lower collection of revenue, the ministry said

Union Finance Minister Nirmala Sitharaman Monday said that petrol and diesel can be brought under the GST ambit if the GST council takes a call

GST Council may take up today expert panel's proposal to avoid multiplicity of audits by central, state authorities

The federal government is also working on a strategy with state governments and will seek their inputs to increase the base of indirect tax payers

One of the first rulings after the rate-change came into effect from July 18 last year

Council was to meet on Feb 18, but schedule may be changed

Revenues in the current financial year upto January 2023 was 24% higher than the GST revenues during the same period last year

However, the buoyancy improved to 1.1 after the GST implementation on July 1, 2017

The CBIC issued circular clarifying guidelines on recovery proceedings for the period 2017-18 and 2018-19

The industry's worry is the "knee-jerk reaction" of states in regulating the industry, Barde said