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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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Here is the impact of Goods and Services Tax on home loan customers

Here is the impact of Goods and Services Tax on home loan customers

Fri, Nov 10, 2017

If you are willing to get a home loan in the future, it is extremely important to understand the impact of the Goods and Services Tax (GST) that came into effect on 1 July 2017 in India.

GST Council cuts rates on over 175 products, keeps only 50 items in 28% slab

GST Council cuts rates on over 175 products, keeps only 50 items in 28% slab

Fri, Nov 10, 2017

The GST Council on Friday cut tax rates of over 175 products that were in the highest tax slab of 28% under the Goods and Services Tax (GST) regime. Currently only 50 items have been left in the 28% category out of a total of 227 items that were present earlier.

GST Council Meet: Chocolates, necklaces, shampoos may become cheaper

GST Council Meet: Chocolates, necklaces, shampoos may become cheaper

Fri, Nov 10, 2017

Goods and services are expected to get cheaper after the GST Council meet on Friday which is expected to revise tax rates on more products.

GST Council meet gets underway in Guwahati, Congress protests

GST Council meet gets underway in Guwahati, Congress protests

Fri, Nov 10, 2017

Hotel, restaurants body meets GST Council over tax rates

Hotel, restaurants body meets GST Council over tax rates

Thu, Nov 09, 2017

The Federation of Hotels & Restaurants Association of India today said the body met with GST Council members, including state finance ministers, to press for rationalisation of tax rates for the industry.

Post GST gold demand drops 25% in India, 3% globally in Q2 FY18

Post GST gold demand drops 25% in India, 3% globally in Q2 FY18

Thu, Nov 09, 2017

Global gold demand slumps after India introduced GST and tightened the laws with Prevention of Money Laundering Act.

PM hints at more measures for businesses on GST

PM hints at more measures for businesses on GST

Sat, Nov 04, 2017

The GST Council had announced several measures to ease problems faced by businesses last month.

Business conditions in India stagnated in October as manufacturing PMI drops, Nikkei says

Business conditions in India stagnated in October as manufacturing PMI drops, Nikkei says

Wed, Nov 01, 2017

“On the bright side, the labour market continued to improve, with manufacturers further increasing their staffing levels, and at a pace similar to September’s 59-month high. Business confidence eased to the weakest since February as some firms expressed concerns over negative GST effects. However, those manufacturers that were optimistic forecasted benefits of GST materialising over the next 12 months," Dodhia said.

GST will further boost India's ranking in 'ease of doing business'

GST will further boost India's ranking in 'ease of doing business'

Wed, Nov 01, 2017

With the improvement in India's ranking in the World Bank's 'ease of doing business' report to 100th position, bankers and experts today expressed hope that implementation of the GST will strengthen the country's position in the future.

Last dates to file GSTR-2 and GSTR-3 extended

Last dates to file GSTR-2 and GSTR-3 extended

Mon, Oct 30, 2017

A Notification in this regard is being issued very shortly. This will facilitate about 30.81 lakh taxpayers for filing GSTR-2 for the month of July, 2017.

18 of 27 GSTN functions operationalised till date: Sushil Modi

18 of 27 GSTN functions operationalised till date: Sushil Modi

Sat, Oct 28, 2017

Eighteen of the 27 Goods and Services Taxes Network (GSTN) related functionalities with October 30 as deadline have been operationalised till date, Bihar Deputy Chief Minister Sushil Kumar Modi, who heads the GST network panel, said today.

'SMEs have fully absorbed demonetisation issues'

'SMEs have fully absorbed demonetisation issues'

Sat, Oct 28, 2017

Co-founders of GlobalLinker, Sameer Vakil and Summi Gambhir talk about the impact of demonetisation and Goods and Services Tax (GST) on small businesses.

Apparel exporters flag post-GST issues before Par panel

Apparel exporters flag post-GST issues before Par panel

Sat, Oct 28, 2017

Apparel exporters have brought up the problems faced by them post GST before a parliamentary panel, signalling the "strong likelihood" of a decline in garment shipments from India and possibility of job losses.

GST collections at Rs 92,150 crore in September

GST collections at Rs 92,150 crore in September

Tue, Oct 24, 2017

The government has collected Rs 92,150 crore as Goods and Services Tax (GST) in September from 42.91 lakh businesses, the finance ministry said today. Of this, Rs 14,042 crore is on account of Central GST, while State GST is to the tune of Rs 21,172 crore.

Govt waives off late fee payment under GSTR filings for August, September

Govt waives off late fee payment under GSTR filings for August, September

Tue, Oct 24, 2017

Respite for businesses under GST continued as the Finance Minister today announced waiver of late fee payment for those who filed returns late.

Nearly 37 lakh GSTR-3B filed so far

Nearly 37 lakh GSTR-3B filed so far

Fri, Oct 20, 2017

Nearly 37 lakh GST returns for September have been filed till 1900 hours and 75,000 sales data is being uploaded on the GSTN portal on hourly basis, its Chairman Ajay Bhushan Pandey said today.

Group of Ministries on composition scheme holds first meeting

Group of Ministries on composition scheme holds first meeting

Sun, Oct 15, 2017

Within a week of being set up, the group of ministers (GoM) on making the GST composition scheme more attractive held its first meeting today.

No extension for July GSTR-1, Govt clarifies

No extension for July GSTR-1, Govt clarifies

Mon, Oct 09, 2017

The Government of India, in a statement on Monday said, "The last date for filing GSTR-1 for the month of July, 2017 is 10th October, 2017. An extension of two months has already been given. There will be no further extension given to taxpayers for filing their GSTR-1 return for July."

100 days of GST; how did it go so far?

100 days of GST; how did it go so far?

Sun, Oct 08, 2017

On completing 100 days in the GST regime here’s a recap of India's biggest tax reform and its existing pains and gains.

Revised GST rates once again fail to see sanitary napkins’ case

Revised GST rates once again fail to see sanitary napkins’ case

Sun, Oct 08, 2017

GST Council revised tax rates on 27 items and 12 services. However, even after petitions and letters to the government to reduce tax incidence on sanitary pads it was not revised.

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