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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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Govt unveils draft GST returns forms, seeks public comments

Govt unveils draft GST returns forms, seeks public comments

Tue, Jul 31, 2018

The return form 'Sahaj' is for businesses which make supplies to only consumers (B2C). It includes details of outward supplies and inward supplies attracting reverse charge as well as summary of inward supplies for claiming input tax credit (ITC).

GST rate cut ahead of polls good for consumers, but is it good for govt revenue; Experts divided

GST rate cut ahead of polls good for consumers, but is it good for govt revenue; Experts divided

Mon, Jul 30, 2018

GST Council, which was chaired by Union Minister of Railways, Coal, Finance and Corporate Affairs Piyush Goyal last week, decided to trim down GST rate of items like sanitary napkins, footwear, refrigerators, air conditioners, semi and full trailers and even paints.

GST relief from today: Sanitary pads, footwear, fridges, 85 more items set to get cheaper

GST relief from today: Sanitary pads, footwear, fridges, 85 more items set to get cheaper

Fri, Jul 27, 2018

The GST Council, chaired by Union Finance Minister Piyush Goyal, last week pruned the highest 28 per cent tax slab by moving some white goods to the 18 per cent tax bracket. It was decided that the new tax rates would come into effect from July 27.

Hawala transactions rising due to GSTN software: WB min

Hawala transactions rising due to GSTN software: WB min

Tue, Jul 24, 2018

Mitra said the GSTN software was found wanting in the face of a massive load of transactions, which resulted in hand-written filling of forms.

GST rate cuts: Investors tap stocks of these companies, boost them up from 2% to 10%; here’s why

GST rate cuts: Investors tap stocks of these companies, boost them up from 2% to 10%; here’s why

Mon, Jul 23, 2018

The reason behind the rise of these stocks is because the council has trim down GST rates for about 100 items including FMCG and electronics ones.

GST benefits for small and medium exporters may come soon after fault lines appear

GST benefits for small and medium exporters may come soon after fault lines appear

Fri, Jul 20, 2018

The government may soon roll out duty drawback on goods and services tax (GST) to benefit small and medium exporters after fault lines increasingly surfaced in India’s exports despite high growth in May and June this year.

GST in Monsoon Session may see return of retrospective amendments

GST in Monsoon Session may see return of retrospective amendments

Mon, Jul 16, 2018

The proposed amendment seeks to explicitly exclude cesses levied in a pre-GST regime from allowable transitional credit that can be claimed by companies, said the report, adding that under the transitional credit provision, companies were allowed to claim tax credit against levies such as value added tax and service tax on stock purchased before implementation of GST for a limited period.

1-year of GST: Here's how manufacturing sector reaps benefit from this regime

1-year of GST: Here's how manufacturing sector reaps benefit from this regime

Sat, Jul 14, 2018

One year of GST: 12 months have already passed since the goods and services tax (GST) was rolled out by PM Narendra Modi.

Haryana top state in per capita revenue collection under GST: Min

Haryana top state in per capita revenue collection under GST: Min

Thu, Jul 12, 2018

Haryana has widened the tax base by 82.22 per cent and logged 19 per cent hike in revenue collections, state Finance Minister Abhimanyu said today

GST amendments: How many will be there? Check number here

GST amendments: How many will be there? Check number here

Tue, Jul 10, 2018

The amendments, among other things, provide for the modification of reverse charge mechanism, separate registration for companies having different business verticals, cancellation of registration, new return filing norms and issuance of consolidated debit/credit notes covering multiple invoices.

GST: No sops for digital payments? See what is on the cards

GST: No sops for digital payments? See what is on the cards

Mon, Jul 09, 2018

The Sushil Modi led ministerial panel will recommend to the GST Council to defer by a year the proposal to incentivise digital payments under GST, citing revenue implications of doling out concessional tax rate.

One year of GST: What got expensive and cheaper

One year of GST: What got expensive and cheaper

Tue, Jul 03, 2018

When Goods and Services Tax (GST) was rolled out, prices of some products jumped, while some got cheaper. Take a look at what got expensive and cheaper:

One year of GST: Impact of new tax regime decoded

One year of GST: Impact of new tax regime decoded

Mon, Jul 02, 2018

Currently, GST has five tax bracket namely 0%, 5%, 12%, 18% and 28% and is followed as a dual tax regime in India.

One year of GST: When Modi invoked milk and Mercedes to attack Congress

One year of GST: When Modi invoked milk and Mercedes to attack Congress

Mon, Jul 02, 2018

Modi will remembered as the man who changed an entire face of India financial system with reforms like demonetisation and GST.

One year of GST: This regime made airfare in economy class cheaper, but business class turned expensive

One year of GST: This regime made airfare in economy class cheaper, but business class turned expensive

Mon, Jul 02, 2018

One year of GST: The response has been mixed with some left confused about the digitized process and its norms.

GST a game changer, but this is what Rakesh Jhunjhunwala wants

GST a game changer, but this is what Rakesh Jhunjhunwala wants

Mon, Jul 02, 2018

"GST, I think is a game changer. We have to understand that all correction and all change in this country is a process. It’s a democracy. It takes time. I think we are going in the right direction," said Rakesh Jhunjhunwala.

Massive GST collections set to bring good news for common man

Massive GST collections set to bring good news for common man

Mon, Jul 02, 2018

Finance minister Piyush Goyal exuded confidence that GST collections will exceed Rs 13 lakh crore in the current fiscal and there will be further scope to rationalise the tax rates.

Petro products to come under GST after revenue collections stabilise above 1 lakh crore: Sushil Modi

Petro products to come under GST after revenue collections stabilise above 1 lakh crore: Sushil Modi

Mon, Jul 02, 2018

Sushil Modi, who also heads the GST Network Panel, said the price of petroleum products may not come down, even if they are brought under its ambit, as states will have the power to impose tax (top up) beyond the highest GST rate of 28 per cent.

One year of GST: Direct tax mop up jumps, advance tax rises 44% in Q1

One year of GST: Direct tax mop up jumps, advance tax rises 44% in Q1

Sun, Jul 01, 2018

Arun Jaitley said despite challenges to the global economy, demonetisation and anti-black money measures, direct tax collection has gone up 18 per cent and the impact of GST was not fully visible last year.

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

One year of GST: Did this new tax regime impact your loans, ATM transactions? Find out

Sun, Jul 01, 2018

One year of GST: Consumers saw a small increase in costs of purchasing financial products and availing financial services.

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