Page 27 - Gst

Fiscal realities: Why govt cannot respond to Covid-19 crisis more fully

The problem is on both revenue and expenditure sides - the former is shrinking in relation to GDP, and the latter is rising despite a sharp drop in petroleum-related subsidy bills - writes T N Ninan

Covid won't deter us from path of speedy GST reforms: Ajay Bhushan Pandey

While not affirming new timelines for the simplified returns forms, Pandey says invoice matching is already happening at the back-end and quarterly payments are allowed for small taxpayers.

Slowdown: Chhattisgarh bucks trend with rise in GST receipts, vehicle sales

State govt credits revival to putting more money in people's pockets

A tentative recovery

Data suggests that the economy is bottoming out

Tranformational tax reform

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

The past three years of GST and the road ahead

The journey has been a mixed bag, as several issues remain unresolved: Let's turn back and revisit what GST has attained and it couldn't

Best of BS Opinion: A govt in need of experts, making GST work, and more

Here's a selection of Business Standard Opinion pieces for the day

Making GST work

Only a simpler tax structure will increase compliance

Compensation has become the biggest issue in GST: Sushil Kumar Modi

Modi tells Dilasha Seth that the proposed reforms like simplified return form and e-invoicing facility, among others, will be difficult to push through in the fourth year.

Letter to BS: Hopeful that one day GST will be a 'good and simple tax'

The removal of various central and state value added tax laws, barriers, transaction forms, different rates on one commodity are big achievements

Payment of advance does not create lien over supplier's assets: Expert

Your rights arise only from the contract between you and the supplier, say expert

GST: An unappreciated reform

The cascading effect of taxes owing to crisscross and delinked taxes, which were officially acknowledged but never addressed, is a thing of the past

GST effect: How retail inflation rate changed over the last 3 years

The inflation rate in cigarettes hit double digits during July-March of FY18, but came down in the next two years

Three years of GST: Still a long way to go for 'Good and Simple Tax'

The GST Council is considering market borrowing to give the states the promised compensation for their revenue shortfall

Realty cos must pay GST on shortfall in input procurement by June 30: Govt

Any shortfall in the procurement would be subject to GST to be paid by real estate developers at the rate of 18% on supplies used as inputs or input services and 28% for cement

Relief for GST filers: From July, Nil GSTR-1 Form can be filed via SMS

In a major move towards GST taxpayers' facilitation, the government has decided to provide the facility of SMS filing of NIL statement of Form GSTR-1 from the first week of July.The Central Board of Indirect Taxes and Customs (CBIC) said that the filing of NIL statement in Form GSTR-1 also through SMS would substantially improve ease of GST compliance for over 12 lakh registered taxpayers. At present, these taxpayers have to log into their account on the common portal and then file their statement of outward supplies in Form GSTR-1 every month or each quarter, read a release from Finance Ministry."GST taxpayers with NIL outward supplies would not be required to log on to the GST Portal and would be able to file their NIL statement in Form GSTR-1 through just an SMS. The status confirmation of the filed statement or return application can be tracked by them on the GST Portal by logging in to their GSTIN account and navigating to Services>Returns>Track Return Status," the ministry

'NIL' return filers can file sales statement GSTR-1 via SMS from July 1

Taxpayers willing to file GSTR-1 have to send SMS to 14409 to initiate the SMS facility

Blanket exemption from fees for late GST payments unfair, says CBIC

The CBIC said a blanket exemption of late fee would be unfair towards taxpayers who filed their February, March and April GST sales returns within the extended due date

Don't make mistake of dismissing Galwan incident as patrol clash: Punjab CM

Twenty Indian soldiers, including four from the state, were killed in a violent clash with Chinese troops in the valley in eastern Ladakh on June 15.

GST officials detect Rs 105-cr tax evasion by Indore-based cigarette maker

DGGI had conducted searches at the firm's premises that revealed that a secret exit had been set up on the rear side through which unaccounted raw materials were brought and finished goods cleared