Goods and Services Tax (India)
An indirect tax levied in India
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Goods and Services Tax (GST) is an indirect tax used in India on the supply of goods and services. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
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West Bengal, Kerala agree to Centre’s plan to meet GST shortfallKerala and West Bengal, two of the bitter opponents of the Centre’s plan on borrowing to compensate states for the GST revenue shortfall have accepted Option 1 proposed by the Union government,..
PM-CM COVID meet: Arvind Kejriwal blames spike on pollution, Mamata Banerjee demands GST duesTo take stock of the COVID situation in the country, PM Narendra Modi held the first leg of the PM-CM meet with the CMs of the 8 worst-hit states.
Bengal Covid-19 situation being addressed aptly: Mamata to PMThe prime minister reviewed the Covid-19 situation in various states through video conferencing with chief ministers. Banerjee is learnt to have reminded Modi of the non- payment of Goods and Services..
GST collection surpasses Rs 1 lakh crore in October for first time since FebThe total number of GSTR-3B Returns filed for the month of October upto October 31, 2020, is 80 lakh.
GST Council meet: Centre to give Rs 20,000 crore for GST compensation to states, next round of meeting on October 12Nirmala Sitharaman also said that the GST Council has decided to continue with the compensation cess even after June 2022.
Modi 'finishing' farmers and labourers with new farms laws: Rahul GandhiCongress leader Rahul Gandhi on Monday alleged that Prime Minister Narendra Modi was finishing "farmers and labourers" with the three farms laws just as he had small shopkeepers with demonetisation and..
Sitharaman to chair GST council meeting today, likely to face opposition flak over proposed borrowing optionThe meeting is likely to get heated as non-BJP ruled states are still in disagreement with the Centre on the GST compensation issue.
With U-turn on bills, BJD surprises manyIn a move that surprised political circles, Biju Janata Dal (BJD) on Sunday opposed the two farm bills in the Rajya Sabha. This is the first time BJD has opposed any legislation in the Rajya..
Eight opposition parties protest non-payment of GST dues, Congress not invitedThe leaders of eight opposition parties on Thursday held a protest in the Parliament complex against the government, demanding GST dues. Congress leaders were absent from the protest.
Hemant Soren writes to PM against Centre's GST compensation proposal
Economy destroyed by demonetisation, 'flawed' GST', 'failed' lockdown: Rahul on FM's 'Act of God' remark
CPM targets govt over 'Act of God' remark on GST revenue shortfall
Future Harvard case studies on failure to be on COVID-19, Demonetisation, GST: Rahul GandhiRahul Gandhi has been attacking the Narendra Modi ruled government over the COVID-19 situation in the country.
‘No plan to impose Covid cess on GST’
Make all Coronavirus-related equipment GST-free: Rahul GandhiCongress leader Rahul Gandhi on Monday urged the government to waive GST on all Covid-19-related equipment. He said it was "wrong" on the part of the government to charge Goods and Services Tax (GST)..
CBI books GST assistant commissioner Deepak Pandit on corruption charges
Shortfall in GST cess holding up payments to states: Sitharaman
Declining economy needs 'major surgery', govt must relook GST: MoilyThe declining economy needs "major surgery" and the government should take measures for remonetisation while also having a relook at the GST, senior Congress leader Veerappa Moily said on Saturday...
With praise for NCP in Rajya Sabha, Modi sparks speculationOn the 250th session of the Rajya Sabha (RS), PM Modi praised the NCP, a party that has emerged as a kingmaker in Maharashtra, sparking speculation amid the political deadlock. The PM praised NCP and..
‘No GST on adoption fees, kids not goods’The fees that prospective parents pay to adopt a child is not subject to Goods and Services Tax, the Maharashtra bench of the Authority for Advance Rulings has said.
Rahul hits out at govt, blames note ban, GST for joblessnessIn a scathing attack on the Modi-led government, Congress leader Rahul Gandhi on Tuesday accused it of pursuing wrong economic policies like demonetisation and GST, resulting in joblessness. He said..
Govt's 'crony capitalism' causing economic crisis: Sitaram YechuryCPM general secretary Sitaram Yechury has alleged the country is facing an "unprecedented economic crisis" because of demonetisation, GST and crony capitalism of the BJP-led NDA govt. He said the BJP..
Majoritarianism taking India down ‘dark and uncertain path’: RajanThe former RBI head also made a dark prognosis for the economy, stating in a recent lecture that the government’s economic performance is not sustainable and that there is a risk of the country going..
Oppn-ruled states, Centre slug it out over GST mop-up
Cruise cos seek GST cut to add wind in sailsOh Buoy! The industry, still nascent in India, wants govt help to invigorate it
Hotels get deepest GST cut, fizzy drinks spikedGST/ IGST exemption on import of specified defence goods not manufactured indigenously
Affordable tourism: Slowdown a good time for cheap travelSATISFY THE WANDERLUST: But multiple GST slabs complicating things, drawing away foreign tourists, say players
IRCTC to restore service charges on e-tickets from Sept 1; Rs 15 for non-AC, Rs 30 for AC classesThe IRCTC will levy a service charge of Rs 15 per ticket for non-AC classes and Rs 30 for AC classes, including first class, according to the August 30 order issued by IRCTC. Goods and Services Tax..
Last date to file GST annual returns extended till November 30The finance ministry on Monday said the last date for filing annual GST returns has been extended by three months to November 30 as taxpayers were facing technical problems in furnishing returns...
Gujarat: For women's cooperatives, GST is a stumbling blockTAX LABYRINTHS: Tax systems add to woes of such bodies which function with financial strains
Annual returns filing under GST to be a tall taskTax practitioners say extending the date is not an option. Only simplification of filing of returns can solve the problem
Maharashtra tops in GST, contributes 15% of total collection in IndiaAccording to the finance minister Sudhir Mungantiwar, the growth of Maharashtra among all states of India is highest that has positively resulted in high revenue earning
Govt's 'callous attitude' has brought economy to brink of meltdown: RahulRahul Gandhi on Wednesday claimed that the "callous attitude" of the Modi government in rolling out GST and demonetisation has sent Indian economy in tailspin and brought it to the brink of meltdown...
Mumbai: Conman booked for Rs 5 lakh IGST fraudThe accused identified as Santosh Bhuwad is alleged to have registered his bogus company on the GSTN portal by submitting fake documents and acquiring the GST registration number.