Page 28 - Gst

Input tax credit cannot be availed on GST paid for employees cabs

The AAR in its ruling said since the applicant failed to cite any law under which the service of providing transportation facility to its employees is obligatory, ITC will not be available

GST Council updates: No fees for GSTR-3B for those with nil liabilities

Members of the GST Council discussed issues over videoconferencing in their first meeting since the coronavirus lockdown was imposed

Govt lifts restrictions, gives relief on ITC to exporters, others under GST

The government has now kept imports, ISD and RCM out of the purview of its move to limit ITC to inputs reflected in GSTR2A

CBIC settles controversy over imposition of GST on directors' income

These remunerations would be treated as fees for professional or technical services

Conflicting rulings at state level fuel call for setting up centralised AAR

Centralised AAR was, in fact, already approved by GST Council and Cabinet over a year ago

Centre releases Rs 36,400 cr GST compensation to states,UTs for 3 months

For the April-November 2019 period, the Centre had already released Rs 1,15,096 crore to compensate states and UTs on account of revenue loss due to implementation of the GST

Covid-19 crisis: Central GST collection falls 87% in April amid lockdown

The dip in revenue collections is being attributed to the country being put under lockdown to contain the coronavirus from March 24 and return filing being deferred

Opportunity in crisis: 5 sectors that may gain from coronavirus pandemic

As India moves to open up the country, investors look at sectors that have been resilient. Puneet Wadhwa charts sectors that are expected to do well in the next few months

States' GST compensation requirement to swell to Rs 4.1 trn in FY21

This is equivalent to 2.1 per cent of the country's estimated GDP

Emaar MGF found guilty of profiteering, to refund Rs 13 cr to homebuyers

The National Anti Profiteering Authority has ruled that the realty firm has benefited from additional input tax credit

GST boost to MSMEs

The definitional changes made for MSMEs would address the problem of "dwarfism"

Time to boost P2P lending

As banks grapple with risk aversion and savers see an erosion in the value of money, the P2P platform can be a win-win for both borrowers and lenders

Story in Numbers: Sanganeri textile exporters drained of colour in Covid-19

The sector was trying to emerge from the aftereffects of the implementation of GST when the pandemic struck

GST compensation to states pending for December-March FY20: Sitharaman

The Centre has, so far, released over Rs 2.45 trillion as GST compensation to states since the implementation of the new indirect tax regime on July 1, 2017

Not a single demand made by states has been met: West Bengal FM Amit Mitra

The Union Finance Minister's press conferences makes it appear that India is ruled by the central government, says Amit Mitra

Samsonite India fined Rs 25.74 cr, served show-cause for profiteering

Firm accused of not reducing prices of its products after GST Council brought down the tax rate from 28% to 18%

Executive director is employee, not liable to pay GST: Karnataka AAR

The ruling runs contra to those of other state AARs, which have held all directors are liable to pay GST

It's high time govt worked with trade to revive economy

The government cannot turn a blind eye, as if there were no errors on the GSTN portal

Govt defers release of April GST collection data amid Covid-19 lockdown

In 2019-20 fiscal, Goods and Services Tax (GST) collection had remained above the key Rs 1 trillion mark for 7 months out of 12

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