Page 30 - Gst

Top 10 biz headlines: ED probes Rana Kapoor, GST on phones to rise and more

From Gujarat HC's notices over surcharge imposition to IndiGo's profit warning, here are the top 10 business stories for the day

GST portal glitches to dominate agenda of Council meeting on Saturday

States may ask Infosys to have a point of contact; IT firm chairman Nilekani to a presentation on Saturday

Govt gives Infosys 15 days to submit plan to quickly fix glitches in GSTN

It was also decided to ask Infosys Chairman Nandan Nilekani to make an urgent presentation before the GST Council on March 14

Don't increase GST

Higher tax rates will stifle demand and growth

Commercial vehicles continue to slip, top cos see decline in February sales

Industry representatives have said the situation is unlikely to improve soon as India's economic activity is yet to pick up due to less business activity and consumer spending

GST collections: From Maharashtra to Rajasthan, how top 10 states fare

Karnataka, Uttar Pradesh, and West Bengal witnessed a significant increase in GST collections

Govt's monthly GST lottery scheme to curb tax evasion to begin from April 1

Under the scheme, the revenue department will conduct monthly lucky draws which will have one bumper prize, while there would be second and third prizes state wise

Slowdown due to govt focusing more on political agenda than economy: Rajan

India can still reverse its slowing economic growth by paying attention to key issues, he added

CBI books GST Asst Commissioner Deepak Pandit for undeclared income

In a tweet in 2018, Ashoke Pandit had described him as his "younger brother"

West Bengal FM Amit Mitra worried over Rs 11,000 cr GST dues to state

Says while Centre had targeted collection at 21%, actual figure has been hovering at 1.5%

Odisha expecting GST compensation grants of Rs 6,200 cr for FY21

State GST is the single largest component of Odisha's tax revenue

Foreigners' interest in India remains intact for now, says Samir Arora

As of now, it seems that the markets are seeing through the coronavirus issue and playing for the phase when the virus is contained and does not create any uncertainty or risk.

Trade wants GST Council to change late payment rule

Demands on the basis of gross tax liability can be held in abeyance

Centre approves levy of 28% GST on lotteries from March 1, rate notified

The revenue department notified the GST rate on supply of lotteries and amended its earlier Central Tax (Rate) notification

Letter to BS: Fix GST rate on services at 18% with no input tax credit

To avoid tax on tax, the GST rate should be first brought down to 2 per cent or 5 per cent for manufacturers when they purchase raw materials.

Centre releases Rs 19950 cr GST compensation to states, total at Rs 1.2 trn

In a statement, the finance ministry said Rs 19,950 crore was released to states and union territories on last Monday

Reforming GST

We must simplify, lower and make GST comprehensive to fulfil its promise

States to get Oct-Nov GST compensation before next Council meet

The Centre has estimated a compensation cess shortage of Rs 63,200 crore in 2019-20 (FY20)

About 92% of large taxpayers filed annual returns for 2017-18: GSTN

The data shows that the number of taxpayers with a turnover of more than Rs 2 crore is 12.42 lakh, which is only 13.4 per cent of the total 92.58 lakh regular taxpayers.

Will calculate interest on delayed GST payment on net tax liability: CBIC

There have been cases where GST assessees have paid taxes after due date but did not pay the interest due on account of delayed payment