Page 2 - Goods And Service Tax

Govt notifies interest on delayed GST on net basis from September 1

This, however, goes against the decision by the GST Council in the March meeting

Call GST Council meet

Problem of states' dues needs co-operative settlement

Alcohol-based hand sanitisers to attract 18% GST, not exempted: AAR

The AAR, in its ruling, said since hand sanitisers manufactured by the applicant are of the category of 'alcohol-based hand sanitisers', a 18 per cent GST would be applicable

Covid-19 impact: Direct tax refunds down 16% to Rs 64,428 crore in Q1

Corporation tax refunds stood at Rs 40,482 crore, while income tax refunds stood at Rs 23,828 crore in Q1FY21.

Tranformational tax reform

GST has achieved a lot in three years, but there is an unfinished agenda

Making GST work

Only a simpler tax structure will increase compliance

Telcos seek refund of unutilised ITC, cut in spectrum charges, licence fee

In a letter to Finance Minister Nirmala Sitharaman, the Cellular Operators' Association of India (COAI) also made a plea for refund of the unutilised input tax credit immediately

Bin the Chinese food debate

Food has the potential to draw out the knives for nationalist, regional, nutritional or mere family hospitality reasons

Revenue and compensation on table at GST Council meeting on Friday

The government has rung up just about Rs 95,000 crore as GST in April and May together, and that is less than half compared with the collection in the corresponding months last year.

Vocal for local initiative is not xenophobic, says BJP's Sanju Verma

Big bang reforms have been the norm under Modi government, writes Sanju Verma

'No doubt' on GDP contraction in Q1: CEA Krishnamurthy Subramanian

Subramanian also said that the Centre had gone beyond its means to support states, was keeping its options open regarding deficit monetisation, and that the new privatisation policy would be out soon

Best of BS Opinion: Covid-19 impact on jobs, preserving the IBC, and more

From what the upcoming GST Council meet should focus on to how Trump's response to the protests helped it spread beyond its borders, here's a selection of Business Standard Opinion pieces for the day.

WhatsApp video calls for tax adjudication in wake of Covid-19 pandemic

The move is aimed at maintaining social-distancing norms amid the coronavirus pandemic, and WhatsApp has been picked because of its reach and popularity

Centre considers market borrowing for GST compensation to states

Raising GST rates or rationalisation of tax slabs may be discussed by the GST Council in the next meeting to be scheduled early next month.

Fiscal stimulus by FM is mostly credit oriented, says Subhash Chandra Garg

He said that the fiscal stimulus, by its very nature, is additional fiscal burden on the public finances

Tax tweaks can spur economic revival

These are extremely challenging times, and collective efforts by the government and industry would be required to bring the economy back on track

HC rejects revenue dept arguments, allows pre-GST credit till June 30

Court says 90-day limit after GST rollout under rule 117 of CGST Act, on which revenue dept relied, is directional, not mandatory

Centre owes Rs 3 trillion to states and industry amid Covid-19 outbreak

Assocham President Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of I-T, VAT, and GST, and compensation

Refunds save the day for April direct tax collection; mop-up down 5%

Gross direct tax collection stood at Rs 41,556 crore in April, as against Rs 43,950 crore in the corresponding period last year

GST, GAAR reporting delayed till March 2021 amid coronavirus outbreak

The I-T Dept had, in 2018, changed the tax audit form 3CD, seeking details under GST as well as GAAR, which seeks to prevent firms from routing transactions through other countries to avoid taxes