GST collections cross Rs 1 lakh crore in October GST collections in October crossed the Rs 1 lakh crore mark, after a gap of 5 months, on the back of festive demand, anti-evasion measures. The Finance Ministry Thursday said 67.45 lakh businesses filed goods and services tax (GST) returns in October and deposited Rs 1,00,710
GST: National Anti-profiteering Authority dying a natural death Nearly a year after the National Anti-profiteering Authority (NAA) was set up, it has disposed of only eleven complaints and fined just four companies for paltry sums so far for not passing on the benefits of GST rate cuts or input tax credit to the consumers. The
GST Council met 30 times, took 918 decisions in 2 years: Finance Ministry The all-powerful GST Council, chaired by Finance Minister Arun Jaitley, has met 30 times and taken 918 decisions related to laws, rules and rates for the new tax regime within a span of just over two years, the Finance Ministry said Sunday.
Jayant Sinha to meet airline chiefs to discuss tax issues Minister of state for civil aviation Jayant Sinha will meet chiefs of airlines on Thursday to discuss issues related to taxation in the sector, particularly goods and services tax (GST). A proposal to bring aviation turbine fuel (ATF) under the GST regime that will allow
Free banking services out of GST net: Finance ministry official Free banking services like cheque book issuance and ATM withdrawals is likely to remain out of the ambit of the GST, a senior finance ministry official said. The Department of Financial Services had approached its revenue counterpart to clear the confusion over the levy of
GST Council's varied moves The Goods and Services Tax (GST) Council, in its 27th meeting on May 4, decided on a move to a single monthly return to be furnished by the seller. And, to make GST Network (GSTN), the levy's information technology backbone, fully government-owned. It sent the issue of levying a cess on
28% GST on luxury hotels likely to stay The 28% GST tax on luxury hotels with tariffs of Rs 7500 and above is likely to stay despite the hotel industry lobbying to reduce the tax rate as the government is unlikely to amend the tax slab now, officials familiar with the matter told ET. The
E-commerce companies may need to prepare for withholding tax in two months India Inc, in particular ecommerce platforms such as Amazon and Flipkart, may need to prepare for withholding tax provisions in two months under the goods and services tax (GST). The tax deducted at source (TDS) and tax collected at source (TCSNSE 2.32 %)
Over 68,000 companies registered in 8 months post GST: Union minister More than 68,000 companies have been registered in eight months following the implementation of the Goods and Services Tax (GST) regime, Union Minister P P Chaudhary said today. GST --the biggest tax reform-- was rolled out from July 1, 2017. "The total number of
