Gst Act

India will not merge GST tax rates in 2023-24: Revenue Secretary Malhotra

"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

GST Council to discuss decriminalisation at Council meet on December 17

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

Removing IPC offences from GST Act will be welcome move: Experts

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

Run-up to Budget: Monetary threshold for GST offences may rise to Rs 25 cr

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

Delhi HC directs L'Oreal to pay profiteered amount of Rs 186 crore

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

Kerala FM blames Centre for cutting resources by Rs 23,000 crore

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

United Opposition stalls proceedings over 'unparliamentary' GST hike

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

Top headlines: 5 years of GST and what lies ahead for the tax reform

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

Restrictive GST rules take effect

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

Govt working to bring changes in GST Act, public platforms: Jayant Sinha

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, purified sewage water for industrial use to attract 18% GST: AAR

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

GST fraud of Rs 20,124 cr detected during Nov 9-Jan 31: Sitharaman

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

E-commerce cos fret over Madras HC ruling on GST refunds on service inputs

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

Conflicting rulings at state level fuel call for setting up centralised AAR

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

Amid revenue shortage, govt begins audit of GST returns for FY 2017-18

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

Business fears hit to cash flow from new GST input tax credit restriction

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

FM holds first of a series of meetings with CAs, traders on simplifying GST

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

Lower costs, faster growth

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

GST may become two-tier tax with merger of 12% and 18% slabs: Jaitley

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

Parliament session possible post Diwali to ratify changes in GST Act

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