The Kerala government intends to ask the Goods and Services Tax Council to allow the flood-ravaged state to impose a temporary 10 per cent cess on state GST to pay for the money it needs for flood relief and later to rebuild its collapsed infrastructure.
Kerala will seek support from other states to get a free hand in setting tax rates or levy a cess over GST rates to raise emergency funds during natural calamities, finance minister Thomas Isaac has said. Click to read more
Legal Metrology sleuths raided several shopping malls and supermarkets in the city and filed 125 cases on Thursday pertaining to Goods and Services Tax (GST) violations.
Under the supervision of Legal Metrology controller Akun Sabharwal, 16 teams comprising 32 officers conducted raids at shopping malls and supermarkets in Manikonda, Madhapur, Hi-Tec City, Bachupally, Kompally, Banjara Hills, Jubilee Hills, Nampally, Serilingampally, Gachibowli, Begum Bazaar, Kukatpally, Miyapur, Ameerpet and LB Nagar, in the Greater Hyderabad region. Click to read more
With monthly GST collection remaining below the Centre’s expectation, revenue secretary Hasmukh Adhia has started taking stock of initiatives aimed at shoring up tax inflow.
“The revenue secretary is expected to review the overall collection trend and issues faced by the businesses, if any. The focus, though, would be on compliance and enforcement,” said a state GST commissioner.
Adhia recently reviewed the functioning of tax administration in Jammu and Kashmir and is expected to soon visit Bihar to carry out a similar exercise. Click to read more
The Orissa High Court has directed investigating authorities not to take coercive action against importers on the issue of availing advance authorisation licences under GST regime, said Abhishek Rastogi, counsel from the side of importers.
Earlier, importers had approached various courts over restrictions imposed for availing advance authorisation licences. The change in condition has led to the directorate of revenue intelligence (DRI) issuing notices to exporters. The case will come up for hearing in Madras HC on Friday. The Central Board of Indirect Taxes and Customs (CBIC) had inserted a clause of “pre-import” for exempting imports done on advance authorisation licences from integrated goods and services tax (IGST). Click to read more
For India’s appliances industry, recent windfall gains from lower producer levies may well be offset by losses from the sliding rupee.
About a month after policymakers lowered the GST on refrigerators, washing machines, toasters, and some other products to further encourage purchases in an otherwise urban-centric consumer market, companies are being forced to raise prices by 3-6% to cushion the impact of a falling local monetary unit. Some price increases take effect as early as this weekend, with both Samsung and LG informing its sales channels about the raises. Click to read more
The Goods and Services Tax (GST) collections may come in as a surprise for the government as the collections for July are likely to be lower on year-on-year as well as on month-on-month basis.
The collections are likely to be in the Rs 89,000 crore and Rs 91,000 crore range for the month of July, sources told CNBC-TV18.
Last July, the GST collections stood at over Rs 94,000 crore, while the June collection this year was over Rs 96,000 crore.
Officials said that the collections are likely to slip further for the month of August and September, which will be reported in September and October respectively. However, they are confident that the collections will pick up post September. Click to read more
Claiming that old era tactics are back in full swing, small and medium enterprises (SMEs) have urged the government to direct tax authorities to not harass them by slapping demand notices in pre-GST cases.
The leading industry body of smaller firms has demanded that an explicit advisory should be issued to field officers about persecuting SMEs with pre-GST cases in this initial phase which has seen frequent change in rules, technical glitches and genuine errors. “There is need to realise difficulties being faced by the government machinery due to rules and digital processes clearly indicating a long time it will take for the GST regime to stabilise,” Federation of Indian Micro and Small and Medium Enterprises (FISME) has said in its representation to the government. Click to read more
Congress president Rahul Gandhi returned to his alma mater on Thursday and regaled the audience at Beucerius Summer School, Hamburg, with a keynote address covering several burning issues concerning the Indian government and the country at large.
Stressing on the importance of including backward classes and minority communities in policymaking, Gandhi attributed the recent rise in lynchings and violence in the country to the exclusionary politics which he said has become synonymous with the Narendra Modi government. Click to read more