Page 69 - Gst

As PM pitches for 18% GST on 99% items, Chidambaram calls it belated wisdom

PM Modi had on Tuesday indicated that further simplification of the GST was on the anvil

Tax on tyres likely to be slashed to 18% at GST Council meet on Saturday

Modi Tuesday indicated that the 28 per cent slab of GST would only be restricted to a few select items, such as luxury and sin goods

Computer screens, power banks likely to take GST cuts on Saturday

Big-ticket rate cuts unlikely at upcoming Council meet owing to revenue shortfall

Multi-state GST, Input Tax Credit fraud worth Rs 2 billion detected

According to officials, the fraud was committed during the past one-and-half years through bogus business and fake invoices and e-way bills

Finmin working on new draft of GST Constitution Amendment Bill

Finmin working on new draft of GST Constitution Amendment Bill

How Congress resurgence in Hindi heartland changes dynamics of GST Council

New Delhi, 13 December Finance minister Arun Jaitley's persuasive skill will be tested at the next Goods and Services Tax Council meeting, scheduled December 22, which will see three more state representatives from the Congress party.So far, all decisions have been taken by consensus. Voting has never been resorted to. If it now is, on some proposals, the ruling National Democratic Alliance (NDA) at the Centre will have to woo at least three states not ruled by it to their side, to get a resolution passed. If there is voting, the Centre can block any proposal, since it has 33.3 per cent of the total vote. Each of the 31 governments on the Council have 2.15 per cent of the vote, since the other 66.7 per cent is equally divided between them. Since 75 per cent of all votes are needed to see through a resolution, states on their own, even if they unite, cannot ensure a resolution through on their own. However, 12 states together can block any resolution.To get its resolution passed, the ..

GST Council may further trim 28% slab; taxes on cement likely to be cut

The 35 goods, which are left in highest GST slab include cement, automobile parts, tyres, automobile equipments, motor vehicles, yachts and demerit items like tobacco, cigarette and pan masala

Financial conditions tight, India headed for growth slowdown: Ex-CEA

Subramanian further observed that the country should brace itself for an economic slowdown

Indirect tax dept extends annual GST returns filing date to March 31

Archit Gupta, CEO ClearTax said,'given that filing for GSTR-9 had not begun online, an extension was required'

After traders request, GST return filing date extended to March 31, 2019

The announcement came a day after traders urged finance minister Arun Jaitley to extend the last date for filing annual GST return to March 31, 2019

Get real on GST

Rate reforms are needed to help shore up collections

Multiplex and theatre owners in Uttar Pradesh get relief under GST regime

The owners had moved the Allahabad High Court, and its Lucknow bench, over the issue of including entertainment tax into GST

Extend deadline for annual GST return filing to March 31: CAIT to Jaitley

The last date for filing annual goods and services tax (GST) return from December 31, 2018

E-tailers into services not to collect TCS; online goods players cry foul

Clarification says no TCS for e-commerce service players up to Rs 2 mn annual turnover

Indenting agents of foreign firms may get relief on IGST: Sources

Indenting agents in the metal industry have already approached Gujarat High Court against the IGST

New simpler GST return forms likely April 1, says Revenue secy AB Pandey

Ajay Bhushan Pandey exuded confidence that the government will achieve the budgeted target for GST collection

Perspective of GST as regressive tax

GST is just as regressive as excise duty or sales tax and turnover tax and not more than that

Nov GST collection drops to Rs 976 bn after breaching Rs 1-trn mark in Oct

If trend continues, shortfall in FY19 could be about Rs 500 billion

Deadline for filing TDS returns for Oct-Dec to January 2019 for GST

According to the Central GST (CGST) Act, the notified entities are required to collect TDS at 1 per cent on payments to goods or services suppliers in excess of Rs 2.5 lakh. Also, states levy 1 per ce

Rs 330 bn in IGST pool apportioned between Centre and states in November

This is the sixth time that IGST funds have been divided between the centre and states