GST Act

"Right now, we are just looking to maintain stability (in tax rates), a stable tax regime. Minor changes will always be there... major taxation change like merger of tax rates

One of the proposals before the Council is to raise the threshold limit for launching criminal proceedings under GST for offences over Rs 20 crore

Proposal will reduce litigation for businesses but may lead to longer prison sentences, they say

So far, the CBIC has made 960 arrests, including of 20 chartered accountants, under the current provision

The court, which clubbed the petitions, had posted the matter for next hearing on October 19

Kerala Finance Minister K N Balagopal has written to Nirmala Sitharaman asking her not to include borrowings of state entities while fixing their debt limits

Says govt running away from discussion in Parliament on price rise, Rs

In the last five years, since its launch in July 2017, the GST journey has been difficult for both economic and political reasons. Read more on five years of GST in our top headlines

Many changes in the GST laws have come into effect from the beginning of this year

The government is working to bring changes in the GST Act and other public platforms so that companies can utilise data to grow big in size and scale, Jayant Sinha, Chairperson, Parliament Standing Committee on Finance, said on Thursday. "Public platforms such as UPI and Aadhaar are very important platforms. Even then, for us to leapfrog, we have to do more in terms of public platforms," Sinha said while speaking at the Assocham e-summit on 'Non-Banking Finance Companies & Infrastructure Financing: Transforming the Financial Lending Landscape'. When the Factoring Bill came to the Standing Committee on Finance, the government was opening up factoring to more non-banking financial companies and enabling more NBFCs to participate in that. "But even as we were doing that we were not addressing some important platform and data related issues. That is why we suggested that anything that is on GST as an invoice should automatically be gone to TReDS as well. Then it can be used on TReDS ..

Treated and purified sewage water is classified as 'water' under the GST Act and its supply for industrial use would attract an 18 per cent tax, the Authority for Advance Ruling (AAR) has said

A nationwide special drive against unscrupulous entities for availing and passing on Input Tax Credit fraudulently is being carried out, FM said in a written reply to Rajya Sabha

The high court's order, which says refunds paid on service inputs can be restricted, runs contrary to Gujarat HC verdict and could complicate matters

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago

The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three

Gupta of ClearTax feels a further reduction in credit could have been considered later

The new GST return is available on the portal for trial; consultations will be held across country on December 7 to get feedback on the new system

Reducing the cost of doing business gets little attention, but it's a key structural reform that would enable India to grow at 8-10 per cent a year for over a decade

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

Early convening of Parliament will also provide gap of 2 months before the next session is convened in Jan to place the Budget