Page 2 - Goods And Service Tax

Centre may release Rs 35,000 cr to states as June GST compensation

GST compensation has remained a sticking point between the Centre and states

Centre advances devolution as states hunt for funds, transfers Rs 1.16 trn

Money will help carry out their capital expenditure and welfare spending plans

Monetary policy: Negative interest rates are a matter of concern, says RBI

With regard to repo rate actions, if you look at other central banks, 50 bps has become the new normal. And, quite a number of central banks are hiking rates by 75-100 basis points: Shaktikanta Das

Rahul Gandhi, Priyanka Vadra, other Congress leaders detained amid protest

Congress MPs including Rahul Gandhi were detained at Police Lines Kingsway Camp during their protest against the Centre

GST collection jumps 28% YoY in July to second highest ever at Rs 1.49 trn

Collection remains above Rs 1.4 trn for fifth straight month

Fiscal deficit expected to follow previous years' trend in June quarter

Centre's capex outlay may touch 20 per cent of full-year target in Q1 at Rs 1.5 trillion

SC dismisses petitions seeking GST exemption on Haj services for pilgrims

A bench of Justices A M Khanwilkar, A S Oka and C T Ravikumar pronounced the judgment, saying they "dismissed" the petitions on both the grounds of exemption and discrimination

SC grants two-month window to taxpayers for claiming transitional credit

The apex court bench of Justice Abdul Nazeer and JK Maheshwari directed the revenue authorities to facilitate taxpayers who were not able to claim benefits when the country transitioned

GST: Understanding how the rules around tax on rent will apply to tenants

Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on rent under the new rules

No GST on food items when sold loose, clarifies FM Nirmala Sitharaman

The clarification came amid protests and widespread criticism by Opposition Members of Parliament over foisting GST on daily-use essentials and subsequent price rise

United Opposition stalls proceedings over 'unparliamentary' GST hike

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

New GST rates come in effect from today: Check the rate change list here

While the GST council proposed to withdraw tax exemptions for a few items and rate changes for others, exemptions for many others were removed

CBIC to issue SOP for GST summons to stop harassment of businesses

The new SOP will make officials more accountable and will also make the entire process transparent

Govt plans to make GST e-invoicing must for companies with Rs 5-cr turnover

At present, any firm with Rs 20-crore turnover is mandated to file this

Five years of GST: Some biz adapted, some perished, as others thrived

This ground report from Howrah talks about how the mid-sized and smaller players lost ground

Statsguru: Six charts show GST's revenue challenge for Centre, state govts

But a longer-term perspective on state collections raises questions on GST's ability to fulfil certain primary objectives

SC strikes down levy of GST on ocean freight in CIF contracts

The matter before the Court was the appeal against the decision of Gujarat High Court in the case of Mohit Minerals Pvt. Ltd

BS Number Wise: Education and the ability-to-pay principle in India

The fees Jawaharlal Nehru University (JNU) earned per student per annum, at Rs 7,375, was 99 times lower than the spending on academic, administrative, and other costs per student per annum in 2019-20

GST collections up 18%, cross Rs 1.3 trn in Feb despite Omicron curbs

Analysts are confident that GST collection for the current financial year will cross the Budget targets

GST collection at record Rs 1.40 trillion in Jan on rapid eco recovery: FM

GST collections touched a record of Rs 1.40 trillion in January on rapid economic recovery, Finance Minister Nirmala Sitharaman said on Tuesday