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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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GST Council to take final decision on tax rate on October 19

GST Council to take final decision on tax rate on October 19

Wed, Oct 19, 2016

The decision on the Goods and Services Tax (GST) rates, which will have four slabs, will be taken on Wednesday by the GST Council that kicked off its three-day meeting on Tuesday. On Tuesday, the GST Council reached a consensus on state compensation and the base year will be 2015-16.

ClearTax to foray into IT return filing in GST regime, to launch app

ClearTax to foray into IT return filing in GST regime, to launch app

Sun, Oct 02, 2016

To help clear confusion over return filing and tax planning under the impending GST regime, online tax filing portal ClearTax will act as an advisor to traders and businesses, assisting them in filing returns.

GST Council agrees on 5 areas; differ over decisions taken in first meeting

GST Council agrees on 5 areas; differ over decisions taken in first meeting

Fri, Sep 30, 2016

In signs of fracture, the Centre and states on Friday disagreed on decisions reached at the first meeting of the GST Council on service tax assessment although they reached a consensus on area based exemption in the new tax regime.

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tax dept introduces 2 more draft rules; makes monthly returns mandatory under GST

Tue, Sep 27, 2016

Moving at a fast pace, the tax department on Tuesday came up with two more draft rules and their formats on GST returns and refunds requiring assessees to file monthly returns and specifying procedure for claiming refunds of taxes, interest and fees.

GST Council to finalise registration, other rules on September 30

GST Council to finalise registration, other rules on September 30

Mon, Sep 26, 2016

Moving on fast track to meet the April 2017 GST rollout deadline, the tax department on Monday came out with draft rules relating to registration, invoice and payment which will be finalised by the GST Council on Friday.

Tax dept unveils 3 draft rules for registration under GST

Tax dept unveils 3 draft rules for registration under GST

Mon, Sep 26, 2016

In less than a week after the first meeting of the GST Council, the tax department on Monday came out with three draft rules and their formats relating to registration, invoice and payments which would be finalised by week-end.

States happy with outcome of GST Council's first meeting

States happy with outcome of GST Council's first meeting

Fri, Sep 23, 2016

Left-ruled Kerala on Friday sought a decision on the formula for compensating states for any loss of revenue post goods and services tax (GST) before a rate is decided even as most others hailed the decisions taken at the first Centre-State council meeting on the new tax regime.

Assure that GST will be applicable from April 1 across India: Arjun Ram Meghwal

Assure that GST will be applicable from April 1 across India: Arjun Ram Meghwal

Thu, Sep 22, 2016

The union government is abiding by the target date for implementing the goods and services tax (GST) to ensure that it is applicable from April 1, 2017 across India, Minister of State for Finance, Arjun Ram Meghwal said at an Assocham event held in New Delhi on Thursday.

Take advantage of emerging opportunities; do not depend on incentives, exemption: Arun Jaitley

Take advantage of emerging opportunities; do not depend on incentives, exemption: Arun Jaitley

Wed, Sep 21, 2016

Asking the industry to improve business model to take advantage of emerging opportunities, Finance Minister Arun Jaitley on Wednesday said they cannot indefinitely depend upon incentives and exemption.

GST: Clarification likely on Centre's power to levy excise

GST: Clarification likely on Centre's power to levy excise

Mon, Sep 19, 2016

The revenue department is likely to issue clarification on legality of levying excise duty by the Centre on various commodities till implementation of goods and services tax (GST) from April 1, 2017.

India to clock 8% growth over next few years: S&P

India to clock 8% growth over next few years: S&P

Mon, Sep 19, 2016

Backed by broadening of domestic consumption base, S&P Global Ratings on Monday projected India to clock a "steroid-free" growth of 8% over the next few years.

Govt working overtime to implement GST by April 1: Cabinet Secretary

Govt working overtime to implement GST by April 1: Cabinet Secretary

Sat, Sep 17, 2016

Terming GST reform as a "game changer", Cabinet Secretary P K Sinha on Saturday said the government is working "overtime" to implement the indirect tax regime from April 1 next year.

President Pranab Mukherjee approves Constitution Amendment Bill on GST

President Pranab Mukherjee approves Constitution Amendment Bill on GST

Thu, Sep 08, 2016

President Pranab Mukherjee on Thursday gave an assent to Constitution Amendment Bill on Goods and Services Tax (GST).

GST Bill can now go for Presidential assent: Arun Jaitley

GST Bill can now go for Presidential assent: Arun Jaitley

Thu, Sep 01, 2016

Government will seek Presidential assent for the landmark Constitution amendment bill for GST as 16 states have ratified the legislation, Finance Minister Arun Jaitley said on Thursday.

Govt likely to frame single policy for retail, FMCG & e-commerce: Amitabh Kant

Govt likely to frame single policy for retail, FMCG & e-commerce: Amitabh Kant

Thu, Sep 01, 2016

The Government of India is likely to frame single policy for retail, FMCG and e-commerce sector in order to create level-playing field for all stakeholders, said NITI Aayog's chief on Thursday.

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