Page 42 - Gst

GST shortfall: Centre to transfer Rs 6,000 crore to 16 states, three UTs

The Centre had on October 23 transferred Rs 6,000 crore to 16 states and 2 UTs of Delhi and Jammu and Kashmir

Tax mop-up showing signs of pick up, economy on revival path: Finance Secy

Pandey said the generation of e-way bills, needed for transportation of goods, is back to pre-Covid levels and online payments have risen exponentially

UK firms say India has become easier for business, want solution to tax row

Annual report on UK companies says retrospective amendment to India's Income Tax Act is a dampener.

Petroleum ministry says it supports including natural gas under GST

Decision that has to be taken by the GST council, says senior civil servant.

States will need years to recover from 'scissor effect' of Covid: RBI

Phenomenon refers to loss of revenues due to demand slowdown, coupled with higher expenditure associated with pandemic, may push the states to great strife

BP wants bigger pie of India fuel market, bats for natural gas under GST

Firm to create 80,000 jobs by increasing fuel retail outlets, along with Reliance, to 5,500 in 4-5 yrs

Composition taxpayers can now file 'nil' GST statement through SMS

While they needn't log on to the GST portal for filing nil returns, the facility on GST portal will remain available to taxpayers

GST officials arrest 1 person for trading in fake invoice, generating ITC worth Rs 52.19 cr

GST officials have busted a fake invoice trading racket and arrested a person for passing on input tax credit (ITC) of over Rs 50 crore, a source said on Sunday.

Best of BS Opinion: Interest-waiver issue, Covid-19 crisis, and more

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

GST officials bust racket for availing Rs 50 cr illegal input tax credit

Khatri was generating illegal availment and wrongfully passing on of Input Tax Credit (ITC) to the tune of Rs. 50.24 Crores

Liaisoning services by branch of foreign firm to attract GST: Karnataka AAR

The order came in a case related to business and promotion activities by the Bangalore-based branch office of a company, the head office of which is incorporated in Germany

Businesses, govt spar over fraudulent ITC claims and imprisonment under GST

Companies may challenge jailing provisions, say Section 69 of central GST Act is arbitrary as it empowers commissioners to arrest persons they have "reasons to believe" have claimed fraudulent ITC

It is a game of skill: Rajasthan High Court rejects plea to ban Dream11

Court says games offered on platform involve skill, not chance; rules that issue of GST evasion, as alleged in the plea, will be decided by GST authorities

Centre, states relations worsen over farm bills, GST compensation

Invocation of tripartite agreement with Jharkhand strains ties further

Top trader-retailer body moves govt against Amazon, Flipkart festive sales

Says hefty discount amounting to predatory pricing, cashback by credit and debit card banks and high interest rate on EMI offered to buyers need to be scrutinised

GST shortfall: FM writes to states, explains Rs 1.1 trn borrowing window

A day after the Centre agreed to borrow Rs 1.1 trillion on behalf of states for meeting GST shortfall, FM Nirmala Sitharaman reached out to all states explaining the contours of the special window

Govt should work to re-establish trust with states: Chidambaram on GST row

After the govt agreed to borrow Rs 1.1 trn on behalf of states to meet GST shortfall, P Chidambaram said that it has taken the "correct first step" and should now work to re-establish trust with them

Centre to borrow to make up for states' GST shortfall: Finance Ministry

Finance Ministry on Thursday said the central government will borrow Rs 1.1 trillion to make up for the shortfall in GST of states

Cash vouchers, Rs 10k festival advance: Key announcements by FM Sitharaman

Here are the key announcements made by FM Nirmala Sitharaman

GST Council meet ends without reaching consensus on compensating states

This was the third meeting in a row that discussed compensation shortfall without a decision