GST Council to discuss tax rate on COVID essentials, compensation to states on Friday
Ahead of the first meeting of the top decision-making body, finance ministers of eight states ruled by non-BJP and like-minded parties -- Rajasthan, Punjab, Chhattisgarh, Tamil Nadu, Maharashtra, Jharkhand, Kerala and West Bengal -- have devised a joint strategy to press for a zero tax rate on Covid essentials, sources said.
May 27, 2021, 16:00 PM IST
Good news for businesses! Centre launches GST refund drive to settle claims by THIS date
The special GST refund disposal drive will run from 15 May to 31 May 2021.
May 16, 2021, 06:41 AM IST
Reduce GST on vaccine, COVID drugs to 0 per cent, release rice subsidy: Tamil Nadu CM Stalin writes to PM Narendra Modi
Tamil Nadu Chief Minister MK Stalin on Thursday (May 13) wrote a letter to Prime Minister Narendra Modi urging to reduce GST on COVID-19 vaccines and other COVID-19 related medicines procured by state governments to 'zero' for a certain period of time after consulting with GST Council since state govt themself are procuring them, reported ANI.
May 13, 2021, 15:45 PM IST
Nirmala Sitharaman responds to Mamata Banerjee’s letter on COVID-19 tax
She further said that if Integrated GST (IGST) Rs 100 is collected on an item, Rs 50 accrues to the Centre and the States each as Central GST and State GST respectively. Further 41 percent of the CGST revenue is devoted to States. So out of a collection of Rs 100, as much as Rs 70.50 is the share of the states.
May 09, 2021, 19:07 PM IST
Now you can track refund application without logging into GST Portal: Here’s how to do it
There is one way with which you can easily do it, just by logging in to the GST portal. But if you are looking for an alternative, there is another option that you can try without logging into the GST portal.
May 09, 2021, 17:24 PM IST
Good news for businesses, taxpayers! Various GST relief measures announced, check here
For registered persons having aggregate turnover above Rs 5 crore, a 9% interest rate, instead of the usual 18%, will be levied “for the first 15 days from the due date of payment of tax.
May 02, 2021, 17:40 PM IST
Govt waives late fee for delayed filing of March, April GSTR-3B, tax payment
Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees. They would be required to pay a lower 9 percent for these 15 days, after which the rate would be 18 percent.
May 02, 2021, 12:47 PM IST
Good news! IGST on oxygen concentrators for personal use slashed to 12%
The government on Friday had allowed imports of oxygen concentrators for personal use through post, courier or e-commerce portals under the gift category amid increasing demand for oxygen due to rising COVID-19 cases
May 01, 2021, 23:22 PM IST
GST revenue hits all-time high of Rs 1.41 lakh crore in April, goes more than Rs 1 lakh crore for 7th time
The gross GST revenue collected in the month of April 2021 is at a record high of Rs 1,41,384 crore, of which CGST is Rs 27,837 crore, SGST Rs 35,621 crore, IGST Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and cess Rs 9,445 crore (including Rs 981 crore collected on import of goods).
May 01, 2021, 15:34 PM IST
SC to hear plea seeking GST exemption on COVID-19 related drugs, medical equipment
The intervention application has been filed by an NGO, 'Public Policy Advocates', in the pending suo motu case by the apex court on the distribution of essential supplies and services during the pandemic.
Apr 30, 2021, 06:48 AM IST
CBI arrests former GST Superintendent on corruption charges
Gandhi has been accused of acquiring money to the tune of Rs 3.74 crores through illegal means.
Apr 21, 2021, 19:27 PM IST
GST officers to be soon armed with real-time data on vehicles moving without e-way
The tax officers would also be provided analysis reports on identifying e-way bill EWB with no movement of goods as it would help officials identifying cases of circular trading. It would also provide reports on recycling of e-way bills for tax evasion prone commodities to help officers in identifying tax evaders.
Apr 18, 2021, 16:32 PM IST
Businessman arrested for Rs 101 crores GST fraud in Ghaziabad
On the basis of specific intelligence, the officers of CGST Commissionerate had conducted a series of searches at 16 places in Ghaziabad, Gautam Buddh Nagar, and Delhi related to Vishal Steel Suppliers and his supplier firms on March 23.
Apr 09, 2021, 22:28 PM IST
6 digits HSN Code now mandatory for GST taxpayers, check direct link here
The codes prescribed in the Customs tariff are used for the GST purposes too as has been specifically mentioned in the GST rate schedule.
Apr 09, 2021, 12:11 PM IST
March GST collection touch new record high at Rs 1.23 lakh crore
The GST revenues during March 2021 are the highest since introduction of GST.
Apr 01, 2021, 16:29 PM IST
Govt releases Rs 30,000 cr to states as GST compensation
The total amount of GST compensation released so far this fiscal ending March 31 is Rs 70,000 crore. This is over and above the Rs 1.10 lakh crore released to states under the special borrowing mechanism to compensate them for shortfall in the Goods and Services Tax (GST) collection this financial year.
Mar 30, 2021, 22:39 PM IST
No proposal to bring petrol, diesel, ATF, gas under GST: FM Nirmala Sitharaman
When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five commodities - crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) - were kept out of its purview given the revenue dependence of the central and state governments on this sector.
Mar 16, 2021, 11:40 AM IST
Rs 1.06 Lakh crore GST compensation shortfall released to states
Till now, 96 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly. Out of this, an amount of Rs. 97,242.03 crore has been released to the States and an amount of Rs. 8,861.97 crore has been released to the 3 UTs with Legislative Assembly.
Mar 09, 2021, 15:53 PM IST
Bharat Bandh today: All commercial establishments to remain closed, over 8 crore traders to protest against GST, fuel price hike
Nearly 40, 000 trade associations, which represent eight crore traders of the country, have extended support to the Bharat Bandh call given by the CAIT. The CAIT said in a release that the traders will stage dharnas (protests) at as many as 1,500 places across the nation on February 26, demanding the Centre, state governments and the GST Council to keep in abeyance the "draconian" provisions of GST.
Feb 26, 2021, 07:16 AM IST
Bharat Bandh today: Check what will remain closed as traders announce a day-long strike on Friday
In a statement, CAIT the umbrella body which has called for the Bharat Bandh said that over 8 crore traders belonging to more than 40,000 trade associations across the country will observe the `Bharat Vyapar Bandh` to protest against some of the "draconian, arbitrary and critical" amendments made recently in GST rules. The CAIT has announced that all commercial markets across the country will remain closed on February 26.
Feb 25, 2021, 19:08 PM IST
