Page 3 - Goods And Service Tax

GST authorities arrest 27-yr old for issuing bogus Rs 1,000 cr bills

A local court remanded the arrested accused to judicial custody for 14 days

Interest on non-payment of GST may be recovered without notice

But with court backing, the authorities are considering doing it in some cases of mismatch in the invoices

GST mop-up signals economic recovery despite worry over Omicron

Collections grow 13% in December quarter to Rs 1.3 trillion - the best since July 2017

Appellate Authority overrules AAR to bring Fryum papad under GST exemption

Holds that Fryum is a brand, not a generic product, and that it is similar to traditional round papad in all respects; normal papad attracts 0% GST

Centre-states may discuss early inclusion of natural gas into GST fold

The Centre is likely to initiate dialogue with states for inclusion of petroleum products under the new indirect tax fold.

No GST on canteen charges recovered from employees, says AAR

GST will not be levied on the amount paid by employees for availing canteen facilities provided by their employers, the AAR has ruled.

Drinking water supply through mobile tankers taxable at 18%: AAR

Supply of drinking water to the public through mobile tankers or dispensers by a charitable organisation is taxable at 18 per cent under the GST, AAR has ruled. The Andhra Pradesh bench of the Authority for Advance Ruling (AAR) has ruled -- in the case of Vijayavahini Charitable Foundation -- that since the organisation is supplying purified water, hence it is not fit for GST exemption. Vijayavahini Charitable Foundation had sought an advance ruling on whether the supply of groundwater after undertaking purification through Reverse Osmosis to the general public either through the dispensing unit or mobile tanker at a concessional rate is exempt from Goods and Services Tax (GST). The AAR said the principal supply undertaken by the organisation is a supply of purified water, which is taxable at 18 per cent, while the service of distribution through mobile units is an ancillary service and taxable at 18 per cent. "It is invariably a composite supply and the rate of tax of purified wat

GST Council may decide on easing levy on imported oxygen concentrators

The Delhi HC last week said that imposition of 12% IGST on oxygen concentrators for personal use or those received as gifts is 'unconstitutional'

SME Chatroom: Import of Covid-19 vaccine will attract Integrated GST

The notification no.28/2021-Cus dated April 24, 2021 does not exempt IGST leviable on medical goods

GST compensation shortfall released to states touches Rs 1 trillion

The ministry on Friday released the 17th weekly instalment of Rs 5,000 crore to 23 states and 3 Union Territories (Delhi, Jammu & Kashmir & Puducherry)

States' unhappiness index on the rise

Centre's proposals on settling states' demand for GST compensation can throw up new challenges

A social contract for economic recovery

The case for cooperation on GST

The GST is at a crossroads, it needs a political fix, not a legal one

Without doubt, negotiation on GST compensation will be contentious. Time for Centre and states to show true leadership and salvage it

Best of BS Opinion: A global perspective on innovation, GST row & more

Here's a selection of Business Standard opinion pieces for the day

GST compensation row: State govts ask Centre to borrow and pay

The finance ministry on Saturday officially communicated the finer details of the two options to states to make up for the compensation shortfall by way of borrowings

GST Council meet likely to be stormy as Oppn states press for compensation

The options being explored are market borrowing, raising cess rate or increasing the number of items for levy of compensation cess.

Govt notifies interest on delayed GST on net basis from September 1

This, however, goes against the decision by the GST Council in the March meeting

Call GST Council meet

Problem of states' dues needs co-operative settlement

Alcohol-based hand sanitisers to attract 18% GST, not exempted: AAR

The AAR, in its ruling, said since hand sanitisers manufactured by the applicant are of the category of 'alcohol-based hand sanitisers', a 18 per cent GST would be applicable

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.