Page 16 - Gst

GST dues of states not cleared as claimed by FM, alleges Chidambaram

Former Finance Minister P. Chidambaram has alleged that contrary to claims of Finance Minister Nirmala Sitharaman, GST dues of Congress-ruled states Rajasthan and Chhattisgarh are yet to be cleared.

FinMin notifies concessional GST rate on Covid-related items, services

The rate on Remdesivir and Anticoagulants like Heparin is lowered from 12 per cent to 5 per cent.

'GST laws vague on export of exempted goods through third party'

The current Foreign Exchange Management (Export of Goods and Services) Regulations, 2015 does not have such an exemption.

GST Council becoming authoritarian and majoritarian: Bengal FM Amit Mitra

Mitra said that the GST Council was the only federalist institution, but in the last few years, an omnipotent, authoritarian and majoritarian approach was creeping into the GST Council.

GST cuts on several Covid essentials; no change in tax on vaccines

Centre to share 70% of vaccine revenue with states, says FM Sitharaman

GST: Centre to share 70% of vaccine revenue with states, says FM Sitharaman

GST Council approves rate reduction for Remdesivir from 12% to 5%; nil tax on Tocilizumab, Amphotericin; however, the Council agrees to stick to 5% GST on vaccines

GST Council meet underway, may consider duty cuts on medical supplies

The meeting is taking place after the 43rd meeting of the Council on May 28 announced a series of duty concessions on Covid relief items in addition to relaxation of compliance measures for taxpayers

UP govt favours GST cut on Covid items to facilitate patients: State FM

The panel looked into Covid-19 vaccines, drugs, and medicines for Covid-19 treatment and testing kits for coronavirus detection.

The ITC tangle on Covid-19 related expenses

Regardless of whether it is incurred for employees or social causes, Input Tax Credit (ITC) being the backbone of GST is a major matter of concern for taxpayers incurring COVID-19 related expenditure

Pvt cos may issue e-invoice: Fintech see scope in data, access to biz users

While e-invoicing alone may not generate high revenues, the key lies in the way fintechs leverage the data of enterprises to offer other products such as credit or supply chain finance

SME Chatroom: 'No GST on expenses incurred as pure agent'

You need not include the costs and expenses you incur as a 'pure agent' in the value of taxable supplies, provided you fulfil the conditions stated in Rule 33

GST was notified with horrendous rates of tax: Congress leader Chidambaram

Congress leader P. Chidambaram has slammed the union government for converting the GST to a bad law, saying it was notified with horrendous rates of tax

Government extends monthly GST return filing deadline to June 26

The Central Board of Indirect Taxes and Customs (CBIC) in a series of tweets listed out the various relaxations extended by the Council.

All eyes on GoM call on taxing Covid items

Under the GST laws, hundreds of mass consumption items and essential services are exempted fully or attract a lower rate of tax than the standard rate of 18%

Industry hails relief for GST non-filers, demands no tax on health services

Ficci President Uday Shankar said a quick decision on GST rates on Covid related essentials will help us attain self-sufficiency in this need of the hour.

'GST compensation amount should be higher than Rs 1.58 trillion in FY22'

The compensation amount promised by the Centre is estimated to be higher than the Rs 1.58 trillion projected by the Centre, say three opposition-ruled states

Govt announces GoM to examine GST exemption for Covid relief material

The GoM shall submit its report by June 8

Priyanka Gandhi demands removal of GST from Covid-related drugs, equipment

Ahead of the 43rd GST Council meeting, the Congress leader demanded that the Centre remove GST from all life-saving medicines and equipment being used in the fight against the pandemic

Rate changes to e-invoicing: 5 things to know about GST council meet today

Meeting is likely to exempt government departments and local authorities from e-invoicing.

GST Council to discuss tax rate cut on Covid essentials on Friday

Compensation to states also on the agenda