Goods and Service Tax
Tax collections to continue rising trend in coming months on higher compliance, increased corporate profitability: Experts
Sun, Sep 25, 2022
The gross direct tax collection grew 30 per cent to Rs 8.36 lakh crore in the April to mid-September period of the current fiscal on increased corporate tax and personal income tax (PIT) mop up due to increased economic activity.
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GST on Rent of residential property, commercial property: All scenarios where this indirect tax is applicable
Wed, Aug 17, 2022
GST on Rent: The Goods and Services Tax (GST) on rent has been implemented with effect from 18 July. But the GST will apply only in certain conditions and not in all cases. The government recently withdrew exemption on renting of residential dwelling to business entities
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GST Council Meet: Rate changes of some items on cards, states' compensation likely to be top agenda
Sun, Jun 26, 2022
The 47th meeting of the GST Council, headed by Union Finance Minister Nirmala Sitharaman and comprising representatives of all states and UTs, is scheduled for June 28-29. The Council is meeting after a gap of six months.
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Is Paratha ready-to-cook or ready-to-eat? Check why Advance Ruling Authority levied 18% GST on frozen or packet paratha
Thu, Sep 09, 2021
A buzz has been sparked across the country after Gujarat bench of Advance Ruling Authority has levied 18 per cent GST on ready-to-cook paratha, separating it from the category of roti, chapati, and khakra, which is considered as ready-to-eat products.
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Mandatory payment of 1% GST in cash only for 45,000 taxpayers: DoR sources
Sat, Dec 26, 2020
The government`s decision on mandatory payment of at least 1 per cent of GST tax liability in cash will impact only around 40,000 to 45,000 taxpayers but help the entire system curb the menace of fake ITC availment and operation of fly-by-night operators, sources in the finance ministry said on Saturday
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Fake invoices: GST Council's law panel suggests online registration with live photo, biometrics
Mon, Nov 23, 2020
The GST Council's law committee has suggested that a fresh registrant must go for compulsory physical verification and personal identification in case opting for non-Aadhaar authentication based registration process and he or she does not have income-tax return supported adequate financial capability
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FMCG firms top chart of consumer complaints after GST roll-out
Tue, Dec 17, 2019
Fast-moving consumer goods (FMCG) firms have topped the list of over-charging customers ever since the Goods and Services Tax (GST) was rolled out on July 1, 2017. Restaurateurs came second in the chart followed by entertainment and media firms.
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Offers! To sell flats, here is what builders are promising homebuyers
Wed, Aug 14, 2019
Real Estate sector is facing weak demand for a while now. To counter the problem, real estate developers are offering tons of offers to clear their inventory. Also, it is a good opportunity for buyers, who are looking to purchase affordable properties.
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Modi 2.0 100-day plan: Simplifying GST slabs, credit to MSMEs, strategic sales
Mon, Jul 15, 2019
The Union government`s 167 `transformative ideas for implementation in the first 100 days of the Modi governments second stint - that is by October 15 -- is likely to see the Finance Ministry taking measured steps turning India into a $5 trillion economy by 2025.
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Boost for environment! GST Council may cut tax on electric vehicles soon
Mon, Jun 24, 2019
The GST Council is planning to reduce tax on electric vehicles (EV), a much awaited environment-friendly call from government. The matter is pending before the Minister of State for Finance and is expected to get a GST tax reduction soon.
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Firms using GST softwares to increase in future: CEO Logo Infosoft
Sun, Jun 23, 2019
Logo Infosoft sees more firms using GST softwares in near future. The company expects India to become their largest market in the next 2-3 years riding on a projected boom for Goods and Services Tax (GST) management solution market, a top company official said- according to a PTI report.
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What is on GST Council agenda in meet on Friday? 11 power packed points in brief - Check here
Thu, Jun 20, 2019
Finance Minister Nirmala Sitharaman-led GST Council meet is set for Friday and there are a number of critical things on its agenda. Notably, this is the 35th meeting of the GST Council, however under Finance Minister Sitharaman, this will be the first.
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