GST Council

Why has no state, since July 2017 when GST was implemented, set different rates for itself? The answer is self-interest

The matter before the Court was the appeal against the decision of Gujarat High Court in the case of Mohit Minerals Pvt. Ltd

The structure of central levies on petrol and diesel needs a review followed by their inclusion in GST

Here are the top BS Opinion articles of the day

From State Bank of India to T+1 settlement, here are the top headlines on Tuesday morning

While many states want to extend the GST compensation regime beyond June 2022, the Centre's view stands that the compensation will be given to states only until that time

The International Monetary Fund (IMF) has "corrected" an error in its calculations to now project that India would become a $5-trillion economy by 2026-27

Here is the best of Business Standard's opinion pieces for Friday

How will the SC ruling affect the GST framework?

The Supreme Court ruled that GST on ocean freight paid for import of goods is unconstitutional. What does this mean for the GST framework? How will it affect the Centre's relationship with states?

Verdict upholds federal rights of states and the people: Kerala FM Balagopal

SC said the impugned levy imposed on the 'service' aspect of the transaction is in violation of the principle of 'composite supply' enshrined under Section 2(30) read with Section 8 of the CGST Act

Bajaj clarified that Article 279A of the Constitution allows the Council to make recommendations but nowhere has it said that Council will 'mandate'

The recommendations of the GST Council are binding in so far as they relate to subordinate legislation, as has also been reiterated by the SC in its order, sources clarified

The Supreme Court said the Parliament and state legislatures possess equal powers to legislate on GST

SC has done well to reiterate GST Council's position

The Supreme Court Thursday said GST Council is not merely a constitutional body restricted to the indirect tax system in India but is also an important focal point to foster federalism and democracy

Business Standard brings you the top headlines on Thursday

CBIC to focus on scrutiny of returns and audit for better compliance during current fiscal; finance ministry official sceptical, says April usually has high collection due to payment of arrears

Opposition chief ministers have made it clear that they would reduce tax rates on petrol and diesel if the Centre cleared their dues

The Council had last year set up a panel of state ministers, headed by Karnataka Chief Minister Basavaraj Bommai, to suggest ways to augment revenue by rationalising tax rates