Page 2 - Igst

Govt gives ad hoc IGST exemption on import of coronavirus relief material

The exemption will also cover goods already imported but lying uncleared on the date of its issuance of exemption

IGST on intermediaries: Gujarat High Court admits a petition to review

When IGST is levied on inter-state transfers within India, it is imposed on service providers

Gujarat HC admits petition to review its order on IGST benefits

Petition was heard by a special bench that had given earlier order. Matter posted for hearing on April 9

Reconsider disallowing IGST for exports: Commerce department to FinMin

The move to disallow IGST for exporters is aimed to plug large-scale frauds in the GST system

Exporters get the shivers from two provisions in Finance Bill 2020

They are worried that the two proposals would make it difficult to seek refunds under indirect tax laws

GST collections cross Rs 1 trillion in October for first time in 8 months

Mop up grows 10% y-o-y at Rs 1.05 trillion, almost equal to levels in February before a nationwide lockdown to contain the coronavirus pandemic

No breakthrough in GST compensation deadlock; next Council meet on Oct 12

About two thirds of states opt for RBI-window of Rs 1.10 trillion, rest still want the Centre to borrow instead

Covid-19 impact: States likely to get IGST dues worth Rs 24,000 crore

The proposal will be presented to the GST Council for approval at the meeting on Monday, expected to be a stormy one over the issue of compensation

July GST collection tumbles 14% to Rs 87,422 cr as Covid-19 hits economy

The July collections, which is 84 per cent of last year's numbers, is however, a recovery from the months of April and May

IGST crackdown: Exporters cry foul; govt refutes allegations of harassment

Say they are being harassed by the authorities even as 1,500 who claimed bogus GST refunds are untraceable

Realisation of export proceeds not mandatory for drawback on re-exports

A licence or duty credit scrip obtained through misrepresentation is voidable but not void till it is cancelled

Top headlines: Mistry family in talks for funds, Google ups lending biz

Economic Affairs Secretary Tarun Bajaj says he is certain that a V-shaped economic recovery will take a year.

Fraudulent IGST refunds: Exporters to face stern action, say reports

Exporters are identified as 'risky' on the basis of specific risk indicators based on customs, GST, income tax and data from the Directorate General of Foreign Trade

Fraudulent IGST claims worth Rs 1,875 crore by risky exporters identified

These people are untraceable and the list includes seven 'star' exporters, government sources said

Top headlines: 271 mn Indians out of poverty, Shiv Nadar retires & more

Here are the top headlines of the day

Govt extends time for duty-free import of diamonds sent for certification

The extended time period would be available to exporters to bring back cut and polished diamonds after due certification and grading by specified laboratories abroad

Green shoots of recovery? GST mop-up improves in June, crosses Rs 90,000 cr

However, the rate of decline has come down considerably to just 9.02 per cent from 38.17 per cent in May and 71.63 per cent in April

June GST collections at Rs 90,917 cr, up from Rs 62,009 cr mopped up in May

The government had allowed a relaxed time schedule for filing of Goods and Services Tax (GST) returns

Covid-hit states urge quick release Rs 20,000 cr IGST dues from Centre

They argue that while Centre recently released Rs 36,400 crore in pending IGST dues in lieu of compensation for December, Jan and Feb, more remained to be given to them

Miners want mandatory capex rule relaxed as workers stay away fearing Covid

None of the merchant mines in Odisha whose lease validity expired by March 31 has been able to restart. Though the successful bidders have got LoI, they awaiting formal vesting orders