Thirteen per cent increase in GST collection in December

New Delhi: GST revenues in December 2021 grew 13 per cent to over Rs 1.29 lakh crore, ..

GST Council defers implementation of tax rate hike on textiles
States pitch for continuation of GST compensation for another 5 years
Govt extends FY'21 GST annual return filing deadline till Feb 28

GST compensation: Centre release Rs 1,15,000 cr to states, Kerala to receive Rs 2.198.55 cr

New Delhi: The Centre released a total of Rs 1,15,000 crore to states and union territories in the current financial year as back-to-back ..

KN Balagopal PTR

States suffer as GST regime sans federal spirit, say Tamil Nadu, Kerala

Hyderabad: The Goods and Services Tax regime is against India's federal structure and states have very little say on the decision ..


Service given by corporate offices to their branches taxable

New Delhi: In what may pose challenge to companies having wider spread of employees and branches all across the country, an authority ..

Nirmala Sitaraman

GST Council extends relief of COVID medicines, but petroleum still out of bounds

Lucknow: In a slew of decisions, the GST Council on Friday decided to extend the applicability of concessional rates on Covid-19-related ..

KN Balagopal

Will oppose bringing petroleum products under GST, says KN Balagopal

Thiruvananthapuram: The state government has decided to strongly oppose the move to bring petroleum products under the Goods and Services ..


Around 2.5 lakh defaulters: GST department may initiate confiscation procedures after November

Thrissur: Delay or non-payment of returns or non-payment of penalty over delay, after taking GST registration will invite stringent ..

Representative Image

Centre releases Rs 75,000 crore to states as GST compensation

New Delhi: The government on Thursday said it has released Rs 75,000 crore to the states and Union Territories to compensate them for ..

Nirmala Sitharaman

GST Council cuts tax on COVID-19 medicines, equipment

New Delhi: The GST Council on Saturday slashed the tax rate on COVID-19 medicines such as Remdesivir and equipment like oxygen concentrators ..

Covid -19 Vaccine

Centre likely to exempt COVID vaccine from GST, final decision on Friday

New Delhi: The GST council under the central government will take a decision on waiving GST on COVID-19 vaccine in the meeting on Friday ..


GST collections at record high of Rs 1.23 lakh cr in March

New Delhi: GST collections in March touched a record high of over Rs 1.23 lakh crore, a 27 per cent growth over the year-ago period, ..


E-invoicing mandatory from April 1 onwards

Thiruvananthapuram: E-invoicing has been made mandatory from April 1 onwards for transactions of the merchants who have an annual turnover ..


GST compensation shortfall released to states touches Rs 1 lakh crore

New Delhi:The Finance Ministry had released the 17th weekly installment of Rs 5,000 crore to the states to meet the GST compensation ..


11th instalment of Rs 6000 crore for GST compensation shortfall released

New Delhi: The Union Finance Ministry has released the 11th weekly instalment of Rs 6,000 crore to the states to meet the GST compensation ..


215 held in two months in fake GST invoice fraud cases

New Delhi: As many as 215 persons have been arrested in the last two months across the country in a drive against fake GST invoice ..


GST arm unearths Rs 832 Cr tax evasion by illegal 'pan masala' factory

New Delhi: The Central GST Delhi West Commissionerate has unearthed evasion of taxes worth around Rs 831.72 crore by way of manufacture ..


December GST collection hits record high, crosses Rs 1.15 lakh crore

New Delhi: The gross Goods and Services Tax revenue collected in December 2020 reached a record high of over Rs 1.15 lakh crore. ..


Deadlines for IT, GST return filing extended

New Delhi: The Centre on Wednesday extended the deadlines for filing 'Income Tax' and 'GST' returns for assessment ..


GST invoice fraud: 132 arrested, 1.63 lakh registrations cancelled

New Delhi: In its drive to check fake firms, fly-by-night operators, and circular trading entities, the GST field formations have cancelled ..


Centre's GST compensation formula gets nod from all states

New Delhi: All the 28 states and three union territories with legislature have decided to go for the Centre-suggested compensation ..

GST compensation

All states except Jharkhand join Centre's suggested formula on GST compensation

New Delhi: With Chhattisgarh communicating its acceptance of Option-1 to meet the revenue shortfall arising out of GST implementation, ..


GST collections expected to be 30% lower at Rs 9 lakh crore in FY21

New Delhi: The government facing severe pressure on revenues due to the Covid disruptions may end the current financial year with a ..


16 states, 3 UTs to get Rs 6,000 crore more as GST compensation

New Delhi:To compensate for the Goods and Services Tax (GST) shortfall, the Central government has borrowed and will be transferring ..


Gross GST collection in October crosses Rs 1 lakh crore

New Delhi: The gross GST revenue collected in the month of October, 2020 was Rs 1,05,155 crore, an official statement said on Sunday ..


Centre borrows, transfers Rs 6,000 cr to 16 states for GST compensation

New Delhi: The Central government on Friday said that it borrowed and transferred Rs 6,000 crore as the first tranche to 16 states ..


GST: State experiences 26 per cent loss in 6 months

Thiruvananthapuram: Due to the COVID-19 outbreak, the state witnessed a drop of 26 percent in income through Goods and Service Tax ..


Two-year extension of GST compensation cess levy likely to cover shortfall in tax collection

New Delhi: The GST Council is likely to approve a two-year extension of compensation cess levy on goods and services to allow Centre ..

Financial crisis

State to enter severe financial crisis by January 2021

Thiruvananthapuram: It is observed that the state will enter severe financial crisis by January next year. The revenue loss during ..

Centre communicates borrowing options to settle GST compensation to States

Centre communicates borrowing options to settle GST compensation to States

New Delhi: States will have to forego borrowing flexibility of 1 per cent of state GDP given under the Atmanirbhar Bharat package if ..

GST Council meet on Thursday, to mull Centre's compensation default

GST Council meet on Thursday, to mull Centre's compensation default

New Delhi:The GST Council will meet here on Thursday to take up the single-point agenda of GST compensation to states affected by delays ..


Unaccounted gold worth Rs 30 crore seized from wholesale shop in Kozhikode

Kozhikode: The GST intelligence department seized unaccounted gold worth Rs 30 crore from a wholesale shop here in the city during ..


Modi woos global companies with investment-friendly business environment

New Delhi: Wooing global companies, Prime Minister Narendra Modi on Thursday said Asia's third-largest economy is one of the most ..

Porotta 1

18% GST ruling on 'Parotas' cooks up storm on social media

New Delhi: What is the difference between a roti and a Paratha? Apart from the taste, it is 18 per cent GST that can be imposed on ..

Nirmala Sitharaman

Data analytics, Artificial Intelligence helped improve GST collections: Nirmala Sitharaman

Chennai: Finance Minister Nirmala Sitharaman said here on Saturday that the government was taking several steps like using data analytics ..


Lottery prices to go up after increase in VAT

Thiruvananthapuram: The price of six weekly lotteries will be increased from Rs. 30 to Rs. 40. The price of Karunya lottery, priced ..

amazone and flipkart

CCI orders probe against Flipkart, Amazon for alleged deep discounting

New Delhi: Fair trade regulator CCI on Monday ordered a probe against e-commerce majors Flipkart and Amazon for alleged malpractices, ..


Two held for Rs 107 crore GST fraud; another absconding

Valanchery (Malappuram): Two members of a gang that swindled a whopping Rs 107 crore by taking Goods and Services Tax (GST) registration ..


GST collections remain subdued at Rs 95,380 cr in Oct

New Delhi: The Goods and Services Tax (GST) collections came in at Rs 95,380 crore in October, down 5.29 per cent from Rs 1,00,710 ..

kerala floods

Rebuilding Kerala: 1 percent flood cess for 2 years from Thursday

Thiruvananthapuram: Flood cess, imposed by the state to aid in rebuilding Kerala will come to effect from Thursday. Along with Goods ..

Direct tax

Direct taxes heading for at least Rs 70,000 crore shortfall

New Delhi: The Finance Ministry is making a last-ditch effort to get close to the direct tax target of Rs 12 lakh crore, asking field ..


Consumers may get GST benefit through grammage increase

Kolkata: With a view to passing the benefits of tax rate reduction or input tax credit to consumers in the GST regime, consumers may ..


Government expects further fall in GST revenues, struggles on direct tax mop-up

New Delhi: Government revenue will be under pressure in the current fiscal year with a senior finance ministry official on Friday suggesting ..


GST slashed; Under-construction flats, houses to be less expensive

New Delhi:To boost demand in the real estate sector, the GST Council on Sunday slashed tax rates for under-construction flats to 5 ..


Lorry runs 7 km in wrong path; GST department levies Rs 19 lakh as fine

Thrissur: The GST (Goods and Service Tax) department levied a fine of Rs 18,96,000 on a lorry that deviated just seven kilometres from ..


GST Reduction On Two-Wheelers: How Can It Affect You?

It’s going to be an important couple of years for the motorcycling industry in India. With the mandatory ABS & CBS norms ..