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We will be net debt free by July 2022, says JSPL's MD V R Sharma

"Our main interest is not inorganic growth, it is brownfield expansion," said Sharma

'Uniform rate of 12% for MMF textiles sector to reduce compliance burden'

Removal of inverted tax structure on MMF Textiles value chain and uniformity of rates brings relief to textiles sector, says govt

Industry divided over 12% uniform GST rate on apparel and footwear

Large manufacturers and retailers are mostly happy as move addresses issue of inverted duty structure; some others see it as hurting small units, along with retailers and customers

Finance Ministry notifies 12% GST rate on MMF, yarn, fabrics from Jan 1

The finance ministry has notified uniform 12 per cent GST rate on manmade fibre, yarn, fabrics and apparel, thereby addressing the inverted tax structure in the MMF textile value chain

12% uniform GST rate on apparel and footwear from Jan evokes mixed reaction

Experts hail move, section of clothing industry decries it saying only a small group within the sector had inverted duty structure

Only works contract in land deals will attract GST: Telangana AAR

A works contract is essentially a contract of service that may also involve supply of goods in the execution of the agreement

Excess money in cash ledger refundable even two yrs after paying GST: CBIC

Decision will ease cash flow of companies as govt lifts time bar. Earlier, assessees could not take refund of this money after two years

Grants, non-philanthropic donations to attract 18% GST, says AAR

Charitable trusts are liable to pay 18 per cent GST on grants and non-philanthropic donations received by them, the Maharashtra AAR has ruled

SME Chatroom: General bond can be furnished for warehousing imported goods

Business Standard brings you the fortnightly Q&A on SMEs

Eggs are farm produce, transporting them is exempt from GST: Karnataka AAR

The ruling was pronounced on an application by SAS Cargo, which transports eggs and hatcheries by rail

Investing in cryptocurrencies, NFT? Soon, you may have to pay 18% GST

While regulatory uncertainty around cryptocurrencies continues, the tax department might be getting ready to tap into this new area. Here's what crypto and NFT investors need to know about taxation

18% GST on insurance premium is atrocious: Former IRDAI member Nilesh Sathe

Says insurance becomes a necessity in the absence of any social security for citizens, nowhere else in the world one has to pay such heavy tax on premium

Aircraft leasing companies hit tax air pocket over SpiceJet dues

Unable to repossess aircraft they had leased to low-cost airline as tax authorities resist efforts

CBIC asks GST officers to block ITC on the basis of evidence, not suspicion

The CBIC has come out with guidelines on blocking of tax credit by GST field officers, saying that such blocking should be on the basis of 'material evidence.'

Swiggy isn't the only company complaining about forced GST payment

Tax consultants allege many others face coercion from field officers

Appellate Authority overrules AAR to bring Fryum papad under GST exemption

Holds that Fryum is a brand, not a generic product, and that it is similar to traditional round papad in all respects; normal papad attracts 0% GST

SME Chatroom: Anti-dumping duty on inputs payable on sales from SEZ to DTA

Business Standard brings you the fortnightly Q&A on SMEs

GST collection in October up 24% at Rs 1.3 trillion, second highest ever

Finance ministry expects positive trend to continue and H2 to post higher revenues; says constant rise in collection in the past five months indicates faster economy recovery

Top headlines: Oct GST collection second highest ever; auto sales skid

Maruti Suzuki and Hyundai report a double-digit drop in sales in October as auto firms struggle to get computer chips for their vehicles. More in our top headlines.

GST collection up Rs 1.3 trn in Oct, above trn for fourth month in a row

This is the second highest collection of GST since its implementation on July 1, 2017