Page 2 - Gst

Economy a cause of worry as foreign exchange reserves deplete: Congress

"The government is actually fueling the rise of inflation by its wrong policies, especially through high taxes on petrol and diesel, high administered prices and high GST tax rates," Chidambaram said

Non-commercial construction in education institutions to draw less GST

Gujarat AAR ruled that such buildings would attract 12% GST, not 18% levied for other construction activities

HC order to pare GST outgo for buyers of under-construction flats: Experts

Currently, GST is levied on sale of under-construction flats/units wherein the entire value of flat or uni is taxed after giving Ad Hoc deduction of 1/3 of value of flat/unit

Gujarat High Court offers GST relief to homebuyers of certain properties

Currently, 18% GST is levied on construction services in real estate. However, one-third abatement is given for land, due to which effective value of taxation comes to 12%

April GST mop-up notwithstanding, Rs 1.5 trn a month may not happen in FY23

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

Panel for 28% GST on casino, online gaming: West Bengal FM Bhattacharya

The report of the GoM is likely to be taken up in the next meeting of the GST Council expected later this month

Inflation, imports main reasons for record GST collections, says report

The ministry attributed the robust mop-up to its tightened compliance measures and a crackdown on GST evaders and fake bills

Reforming fuel taxes

Combination of GST and carbon tax can help

Karnataka High Court backs simultaneous levy of excise duty, GST on tobacco

A two-judge bench, comprising justice Alok Aradhe and justice S Vishwajith Shetty, basically upheld the earlier order by a single bench of the court in this regard

GoM likely to discuss imposing flat 28% GST on online gaming

Set to meet on Monday to iron out issues, including tax ambiguities

FinMin 'embarrassed' PM by putting out GST dues: Chidambaram

Senior Congress leader P Chidambaram took a dig at the Centre over the Rs 78,704 crore it owes to the states in GST compensation

Siddaramaiah writes to PM Modi, urges Centre for GST exemption on newsprint

According to Siddaramaiah, the tax on printing paper for RNI registered agencies before GST implementation was at three per cent, and it was increased to five per cent under GST system

Raise GST rates, but not without reforms

Avoid past mistakes and reduce the number of GST rate slabs along with rate increases

GST Council has not sought states' views on hiking tax rates: Report

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

Top Headlines: LIC IPO size may be cut, India's trade pacts, and more

Business Standard brings you the top headlines at this hour

States need to reset spending, cut freebies: SBI advisor's report

'Clearly, states seem to be currently living beyond their means and it is imperative that states rationalise their spending priorities in accordance with revenue receipts,' Ghosh said

Structural changes

GST system needs careful interventions

GST: GoM yet to take a view on rate rationalisation, says report

There was a thought in some quarters that the slab of 5% may be broken into 3% and 8%, and the remaining slabs of 12, 18 and 28% will continue

'Govt should stop fleecing Indians': Cong on possible change in GST rates

The government should "stop fleecing" Indians already reeling under record inflation and high taxes, the Congress said on Monday citing reports about a possible change in GST rates.

GST Council may do away with 5% rate; move items to 3% and 8% slabs: Report

Although various options are under consideration, the Council is likely to settle for an 8% GST for most items that currently attract 5% levy, say sources