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Goods and Services tax

GST collections in December increase 7.1% to Rs 1.76 lakh crore

GST collections in December increase 7.1% to Rs 1.76 lakh crore

Wed, Jan 01, 2025

During the financial year 2023-24, the total gross GST collection was recorded at Rs 20.18 lakh crore, with an 11.7 per cent increase compared to the previous fiscal year.

States not in favour of bringing ATF under GST, says finance minister

States not in favour of bringing ATF under GST, says finance minister

Sat, Dec 21, 2024

Finance Minister Nirmala Sitharaman on Saturday said that states did not agree on bringing aviation turbine fuel under the ambit of Goods and Services Tax.

GST collection grows 9% to Rs 1.87 lakh crore in October

GST collection grows 9% to Rs 1.87 lakh crore in October

Sat, Nov 02, 2024

Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.

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One year of GST: Long way to go for a simple, uniform tax regime

One year of GST: Long way to go for a simple, uniform tax regime

Thu, Jun 28, 2018

According to NITI Aayog Vice Chairman Rajiv Kumar: "GST has put the economy on a completely different paradigm now because more and more pressure will be on people to register under GST and bring their economic activity into the formal sector."

One year of GST: Number of slabs should be reduced; 28% rate should be abolished, says FICCI's Rashesh Shah

One year of GST: Number of slabs should be reduced; 28% rate should be abolished, says FICCI's Rashesh Shah

Thu, Jun 28, 2018

Rashesh Shah, President, FICCI, said that GST is the largest tax reform in the country and is working as a federal forum where the state and central government along with finance minister can sit together to make decisions on indirect taxes.

GSTN network is stable, 80 lakh people are filing returns every month: Ajay Bhushan Pandey

GSTN network is stable, 80 lakh people are filing returns every month: Ajay Bhushan Pandey

Wed, Jun 27, 2018

In an exclusive interview with Anil Singhvi, Managing Editor of Zee Business, Dr Ajay Bhushan Pandey, Chairman, Goods and Services Tax Network (GSTN), said the GST system is stable now and about 70-80 lakh people are filing their returns every month.

GST: Tax deducted at source (TDS), tax collected at source (TCS) provisions kept in abeyance

GST: Tax deducted at source (TDS), tax collected at source (TCS) provisions kept in abeyance

Wed, Jun 27, 2018

A senior revenue official said the GST Implementation Committee (GIC), headed by the revenue secretary, has decided to keep in abeyance the TDS/TCS provision and GST by way of RCM by another three months.

One year of GST: Hasmukh Adhia says tax entered smooth phase in just 12 months

One year of GST: Hasmukh Adhia says tax entered smooth phase in just 12 months

Wed, Jun 27, 2018

The biggest tax reform since Independence, the GST was rolled out on July 1, 2017. The average monthly compliance of return filing and tax payment is going up in a staggered manner and over a period it is expected to be around 96%, Adhia said.

Big boost for homebuyers, action launched against Delhi builder Eldeco

Big boost for homebuyers, action launched against Delhi builder Eldeco

Tue, May 29, 2018

A committee of the National Anti-Profiteering Authority (NAA) has decided to take action against Eldeco, a well known Delhi-based builder, for not passing on the benefit of Goods and Services Tax (GST) to consumers. The case filed by a Delhi resident is likely to have implications for homebuyers all over the country.

Centre congratulates Bengal for becoming revenue surplus

Centre congratulates Bengal for becoming revenue surplus

Sun, Apr 22, 2018

The Central government has congratulated the West Bengal government as the state has become revenue surplus in March, officials said.

GST returns filing: Sushil Modi panel unveils new fusion model

GST returns filing: Sushil Modi panel unveils new fusion model

Wed, Apr 18, 2018

The panel met the industry representatives, tax experts and the state tax officials on simplifying the return process. Nandan Nilekani, non-executive chairman of Infosys, was also present in the deliberations. GST Network (GSTN), the IT backbone of GST, has been implemented by software firm Infosys.

Raghuram Rajan: Implementation of GST not 'unfixable' problem

Raghuram Rajan: Implementation of GST not 'unfixable' problem

Thu, Apr 12, 2018

Rajan, who is currently the Katherine Dusak Miller Distinguished Service Professor of Finance at The University of Chicago's Booth School of Business, gave the 2018 Albert H Gordon Lecture on the topic 'Leverage, Financial Crises, and Policies to Raise Economic Growth'. He was asked about the "shoddy implementation" of big ticket reforms like GST and demonetisation in India.

Most businesses struggling with GST, report sales fall

Most businesses struggling with GST, report sales fall

Wed, Apr 11, 2018

The industry seems to be struggling to make profits post GST, with about 26% saying they saw a decline in profits by more than 30%. More than 55% respondents are unsure or believe that GST is not good for their businesses in the long run.

Moving goods worth over Rs 50,000 across state borders? What you must do from Apr 1

Moving goods worth over Rs 50,000 across state borders? What you must do from Apr 1

Fri, Mar 30, 2018

The GST Council, earlier this month, decided on a staggered rollout of the e-way bill starting with inter-state from April 1 and intra-state from April 15. The platform has been made more robust and as many as 75 lakh inter-state e-way bills could be generated daily without any glitch. The system has been designed and developed by National Informatics Centre (NIC).

Rahul Gandhi slams GST citing World Bank report; Smriti Irani rebuts him saying he is quoting selectively

Rahul Gandhi slams GST citing World Bank report; Smriti Irani rebuts him saying he is quoting selectively

Sun, Mar 18, 2018

Congress president Rahul Gandhi also tagged with his tweet a media report that quoted the World Bank report as saying that the Goods and Services Tax (GST) implemented by the government from July 1 last year was one of the most complex, with the second highest tax rate in the world among 115 countries which have a similar indirect tax system.

GST collection to cross Rs 90k cr a month from April: CBEC

GST collection to cross Rs 90k cr a month from April: CBEC

Fri, Mar 16, 2018

GST was implemented by the government from July 1 of the last year. She said the initial hiccups related to GST have been settling now. "A lot has been settled. All technologies that are required are there," Sarna said.

India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch

India GDP growth forecast: World Bank says 8 pct acceleration possible, but there is a catch

Wed, Mar 14, 2018

India GDP growth forecast: India's economic growth had slipped to a three year low of 5.7 per cent in April-June quarter of the current fiscal, though it recovered in the subsequent quarters. The economy is expected to grow at 6.6 per cent in the current fiscal ending March 31, as per the second advanced estimates of the Central Statistics Office (CSO), compared to 7.1 per cent in 2016-17. The earlier estimate was 6.5 per cent.

GST council meet: GSTR-3B may be extended till June, simplified return forms on cards

GST council meet: GSTR-3B may be extended till June, simplified return forms on cards

Fri, Mar 09, 2018

The 26th GST Council meet is slated on March 10. Simplified sales return GSTR-3B was introduced in July, the month of GST roll out, to help businesses to file returns easily in the initial months of GST roll out. This was to be followed with filing of final returns -- GSTR - 1, 2 and 3.

E-way bill for inter-state goods movement from April 1: GoM recommends

E-way bill for inter-state goods movement from April 1: GoM recommends

Sat, Feb 24, 2018

Prime Minister Narendra Modi said the recommendation of the panel would be considered by the GST Council at its meeting on March 10

Taxpayers can check return filing status of suppliers on GSTN portal

Taxpayers can check return filing status of suppliers on GSTN portal

Fri, Feb 23, 2018

The GST Network (GSTN) portal has been developed to help buyers to check the tax payment status of their suppliers and make claiming input tax credit (ITC) easier. It would also show status of last 10 returns showing return type, financial year, tax period, date of filing and status whether GST filed or not filed.

Next GST Council meet may liberlise rules, revamp filing process

Next GST Council meet may liberlise rules, revamp filing process

Mon, Feb 19, 2018

The 26th meeting of the council, held through a video conference, is expected to take measures that will make compliance easier for small businesses and traders, said the report.

Want to buy a property? know GST rates here

Want to buy a property? know GST rates here

Fri, Feb 16, 2018

GST is expected to benefit both home buyers and developers.

India market is coming back post GST, says Indra Nooyi

India market is coming back post GST, says Indra Nooyi

Fri, Feb 16, 2018

Global beverage major PepsiCo is seeing demand coming back in the Indian market post GST and the company has registered "very solid mid-single-digit growth" in the October-December quarter, its Chairman and CEO Indra Nooyi said.

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