Page 16 - Gst Council

Centre's compensation cess collection in April down 90% YoY at Rs 990 cr

States worries on revenue front will aggravate, unless GST Council, which meets next week, decides to borrow from markets

Best of BS Opinion: Covid-19 impact on jobs, preserving the IBC, and more

From what the upcoming GST Council meet should focus on to how Trump's response to the protests helped it spread beyond its borders, here's a selection of Business Standard Opinion pieces for the day.

Covid-19 crisis: Centre releases Rs 36,400-crore GST compensation to states

States have been up in arms against the Centre over the non-payment of compensation dues according to the calender

Reimagining GST for the post-Covid era

Revival of economic activity should overwhelm its agenda

GST Council to take up late fee waiver for GSTR 3B returns in next meeting

The current requests for waiver of late fee pertain to the old periodm from August 2017 to January 2020

Covid-19 crisis: Central GST collection falls 87% in April amid lockdown

The dip in revenue collections is being attributed to the country being put under lockdown to contain the coronavirus from March 24 and return filing being deferred

Invest in trust to promote entrepreneurship

What we observe currently is a dilution of the formal channels of communication, while there is not much evidence of the informal ones evolving

Centre considers market borrowing for GST compensation to states

Raising GST rates or rationalisation of tax slabs may be discussed by the GST Council in the next meeting to be scheduled early next month.

GST compensation to states pending for December-March FY20: Sitharaman

The Centre has, so far, released over Rs 2.45 trillion as GST compensation to states since the implementation of the new indirect tax regime on July 1, 2017

Fiscal stimulus by FM is mostly credit oriented, says Subhash Chandra Garg

He said that the fiscal stimulus, by its very nature, is additional fiscal burden on the public finances

Move petroleum to GST: The time is now

The health crisis is a moment of reckoning and an opportune time to revisit GST policy-design

Creating fiscal space for the states

In the second part of a series, the authors say the current uncertainties require room for discretion to serve as a necessary handmaiden of rules that cannot alone cater to all contingencies

Covid-19 crisis: Govt extends validity of e-way bills; gives relief in ITC

The Centre has also deferred the application of restricted input tax credit (ITC) of 10% under goods and services tax (GST), providing relief to industry

Clarifications on shipment issues

The definition of 'turnover of zero-rated supply of goods' under Rule 89(4) of the Central GST (CGST) Rules has been amended

Rationalise GST now

Counteract coronavirus supply shock with tax reform

Industry and analysts denounce GST rate hike to 18% on mobile phones

Xiaomi MD says move could weaken demand as smartphone makers will be forced to raise prices

GST Council likely to defer simplified returns over glitches in system

Officials say that Finance Minister Nirmala Sitharaman in an outreach with taxpayers was disappointed to hear complaints about GST Network platform

Gujarat HC issues notices to Centre, GST Council over surcharge imposition

The cess and the surcharge are imposed at the time of imports, where duties are paid through the Merchandise Exports from India Scheme (MEIS) scrips.

Govt gives Infosys 15 days to submit plan to quickly fix glitches in GSTN

It was also decided to ask Infosys Chairman Nandan Nilekani to make an urgent presentation before the GST Council on March 14

Don't increase GST

Higher tax rates will stifle demand and growth