Goods and Services Tax (India)
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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and services. Both VAT and GST have the same taxation slabs. 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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'Prime Minister will never tell you this...': Jairam Ramesh attacks CentreIn a post on X, Jairam said, "More than 40% of the wealth created in the country from 2012 to 2021 has gone to just 1 per cent of the population. About 64% of the total goods and services tax (GST) in..IndiaTimes - Published | |
'Incompetence, malicious behavior': Jairam Ramesh lists 'failures of BJP government on agricultureJairam Ramesh criticized NDA govt for failures in agriculture, including GST impact, inadequate MSP increase, among others. In a post on X, Ramesh said, "Among all the failures of the Modi government,..IndiaTimes - Published | |
GST 'anti-profiteering' clause is fine, says HC; many companies to be hitDelhi high court has upheld the constitutional validity of the anti-profiteering clause in the GST law, which mandates companies to pass on the benefit of lower taxes and input tax credit to..IndiaTimes - Published | |
Government tables 6 bills in Lok Sabha and passes 3, without oppositionThe government tabled six bills in the Lok Sabha, passed three, and debated three others after opposition protests and suspension of MPs. The House passed bills related to Delhi laws, GST, and..IndiaTimes - Published | |
Lok Sabha passes bill to cap age of GSTAT Prez, members; provisionally effect Budget duty changesThe Lok Sabha passed two bills -- The Central Goods and Services Tax (Second Amendment) Bill, 2023 and the Provisional Collection of Taxes Bill, 2023. The bills, piloted by Finance Minister Nirmala..IndiaTimes - Published | |
Lok Sabha passes bill to raise age limit of president, members of GSTATPiloting the bill, Sitharaman said taxpayers who are litigating against GST demands in various high courts or the Supreme Court will have the liberty to withdraw their cases and approach GSTAT once the..IndiaTimes - Published | |
Demonetisation ended economic recovery that began in 2013: CongressCongress general secretary, communications, Jairam Ramesh said in a statement that demonetisation along with a "badly designed" GST finished off India's job-generating small and medium businesses,..IndiaTimes - Published | |
UP Finance Minister Suresh Khanna becomes convenor of GoM of GST CouncilUttar Pradesh's Finance Minister, Suresh Khanna, has been appointed as the convenor for the Group of Ministers (GoM) by the GST Council to review tax rates on goods and services. The decision was made..IndiaTimes - Published | |
Online gaming companies face Rs 1 lakh crore GST noticesIndia's online gaming industry has been issued show-cause notices amounting to Rs 1 lakh crore, despite concerns raised about applicable GST rates. The government insists on a 28% GST rate, effective..IndiaTimes - Published | |
Sporta Tech petitions Bombay high court against show cause to levy steep GST for โgamblingโ servicesSporta Technologies Pvt Ltd, an online fantasy sports gaming company, has filed a petition in the Bombay High Court to challenge show cause notices regarding a steep Goods and Service Tax (GST) bill...IndiaTimes - Published | |
GST collection, devolution a success story in northeast: Nirmala SitharamanAccording to the 2023 RBI report on state finances, the eight NE states have registered a compounded annual GST hike of 27.5 per cent, Sitharaman said. Assam was the first state to ratify the GST Act,..IndiaTimes - Published | |
With GST being linked to ED, traders paying tax could also be arrested: Delhi CM Arvind KejriwalKejriwal hoped that people would oppose this development at the GST Council meeting on Tuesday.DNA - Published Also reported by •IndiaTimes | |
Alok Kumar Agarwal Alankit: The Impact of GST On Small And Medium EnterprisesAlok Kumar Agarwal Alankit decodes how small and medium enterprises have been affected post-GST reformDNA - Published | Vouchers not goods or services, exempted from GST, says Karnataka high courtVouchers are exempted from GST, the Karnataka high court ruled in a recent judgment, asserting that these don't carry any value and they're not goods or services either. "The definition of 'vouchers'..IndiaTimes - Published |
Rahul Gandhi launches 'Bharat Jodo Yatra', says 'every institution under attack from BJP-RSS'Rahul said PM Modi brings out policies to "help large businesses who help him; demonetisation, GST, farm laws were all designed to help them.DNA - Published | Don't force policies: Non-BJP states bring up NEP and GSTChief ministers of some non-BJP states on Sunday asked the Centre not to "force" its policies but to strengthen cooperative federalism and also sought a five-year extension for the compensation paid to..IndiaTimes - Published |
West Bengal CM Mamata Banerjee meets PM Modi, to meet President Droupadi Murmu later todayAbout her visit, sources said that CM Mamata Banerjee is likely to discuss multiple issues, including GST dues for her state with PM Narendra Modi.DNA - Published | 'British used to do the same; giving relief in Delhi': Arvind Kejriwal attacks Centre over GST on wheat, riceAAP national convener Arvind Kejriwal slammed the central government over the increase in GST on several food items such as wheat and rice.DNA - Published |
'Immediately withdraw any GST on healthcare services': IMA writes to FM SitharamanIMA said the facilities were earlier in the GST exempted category and will be taxed post-July 18DNA - Published | Pre-packed labelled food items to attract GST, states continue to seek compensationGoods that are unpacked, unlabelled and unbranded will continue to remain exempt from GST.DNA - Published |
Extension of compensation cess comes ahead of GST council meetThe central government has extended the validity of compensation cess levied along with the GST on luxury and "sin" goods such as cars and tobacco by nearly four years to raise funds for the additional..IndiaTimes - Published | Nirmala Sitharaman to chair 46th GST Council meet today, textile duty hike to be discussedEarlier this year, the GST Council took the decision to raise the rates of rare textiles and footwear by 12 per cent, effective from January 1DNA - Published |
Mamata Banerjee slams BJP over rising inflation"Inflation is high. LPG, diesel-petrol prices have increased. Businesses affected due to GST, exports down but BJP is not serious to solve these issues. They said will bring 'achhe din' but they are..IndiaTimes - Published | After GST Council Meet, see what's dearer, what's cheaperThe central government on Friday announced that it has approved several proposals during the Goods and Service Tax (GST) council meetingDNA - Published |
Zomato, Swiggy now under GST; will you have to pay extra for food?Keep in mind that different foods belong to different tax slabs and that may be a major factor if the price increases in the near futureDNA - Published | GST was stuck only because the earlier govt couldn't take political risk: PM ModiPM Modi was speaking at the annual meeting of the Confederation of Indian Industry (CII).DNA - Published |
Indian economy picks up pace with GST collection of Rs 1.16 lakh crore in JulyIn a significant indicator of the Indian economy picking pace, the GST collection in July increased 25.4 percent compared to June 2021.DNA - Published | In Kanpur, chaat sellers turn out to be crorepatis, Income Tax, GST probe reveals shocking detailsDetails of not one or two but more than 250 such millionaires in Uttar Pradesh's kanpur have come out in the open.DNA - Published |
GST decreased tax burden on common man, increased transparency: PM ModiThe prime minister termed GST as a "milestone in the economic landscape of India".DNA - Published | PM missing along with vaccines, oxygen, medicines: Rahul Gandhi"The Prime Minister is also missing, along with vaccines, oxygen and medicines. All that remain are the central vista project, GST on medicines and the Prime Minister's photos here and there," he said..IndiaTimes - Published |
