Page 60 - Gst

Auto industry unanimous on its demand for GST cut to 18%, says SIAM

SIAM said Hero MotoCorp Chairman Pawan Munjal had also emphasised on this point on immediate GST reduction at the meeting with finance minister Nirmala Sitharaman

Letter to BS: Reason for under performance of revenues is not evasion

The real reason for under performance is slowdown in the economy and fixing the target too high keeping fiscal deficit in view

Revenue department to brief PMO on Rs 1.67-trillion tax shortfall

Despite a cut in the income tax collection target in the full Budget compared to the interim Budget projections, the target is far from realistic

The big GST question

GST is clearly underperforming - so what should the govt do now?

EV makers welcome GST rate reduction, seek similar cut for spare batteries

It also slashed the Goods and Services Tax (GST) on EV chargers from 18% to 5%

Hyundai Kona prices reduced by Rs 1.58 lakh after GST revision for EVs

The reduced Kona Electric price is effective from August 1, 2019

Planning to buy e-vehicle? EV firms trim prices after GST breather

Union Finance Minister Nirmala Sitharaman had announced a reduction in GST on EVs from 12 per cent to 5 per cent in her maiden Budget

Pay up interest for delay in paying GST refunds: Gujarat High Court

Saraf Natural Stone, a partnership firm, had filed a claim of GST refund. However, there was substantial delay by the authorities in granting of refund

CAG flags deficiencies in functioning of GST

The return mechanism's complexity and technical glitches resulted in rolling back of invoice matching, rendering the system prone to ITC fraud

Maha to ensure 80% jobs for locals, block GST refund to non-compliant firms

Maharashtra was the first state to frame a rule in 1968 that all industrial establishments should hire at least 80% local people

Auto sales in July fall for 9th consecutive month due to poor demand

Cumulative sales of India's top five manufacturers of passenger vehicles dropped by 30.6% to 172,992 units over July last year

GST collection over Rs 1 trillion in July despite subdued CGST and SGST

However, the central and state portions remained subdued, posing a challenge for the revenue target for the financial year

Taxation blues

CAG raises valid issues on revenue system inadequacies

GST collections in July cross Rs 1-trillion-mark after dropping in June

Central GST was Rs 17,912 crore; and SGST at Rs 25,008 crore

Letter to BS: Slowdown in tax collection is not because of evasion

Government-owned companies which manufacture a very large amount of goods and services do not evade

2 years after roll-out, GST glitches still exist, says CAG report

Report also points to slowdown in revenues in FY18

CAG flays tax authorities over error in assessment of income, taxes

CAG found irregularities in 340 high-value cases pertaining to corporation taxes with the tax effect of Rs 4,866 crore

GSTN should test system, fix deficiencies before roll-out to public: CAG

Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime

GST Council trims rate on EVs to 5% in bid to boost electric mobility

EVs, chargers to be taxed at 5%, against 12% and 18% at present

Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%

Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities was exempted from GST