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Finance commission chief Singh blasts frequent tinkering with GST rates

He also pitched for a rationalisation in Centrally- sponsored schemes, and blamed the government for not clearly defining the role of the Niti Aayog

States' fiscal health falling apart over shortfalls in GST compensation

States are indeed facing shortage in cash flow to run the administration and finance their schemes, as well as capital spending

Telcos' AGR dues to outweigh two-year breather for spectrum payment

Incumbent telcos Bharti Airtel and Vodafone Idea have said they would go for a review petition of the SC order, but they have limited time to move court

Amid GST delays, poor non-tax mop-up, states went slow on capex in Apr-Sep

The report said Maharashtra and Himachal ran a fiscal surplus in H1, but the numbers in both the states are much lower than that of H1 of FY19

States concerned over GST compensation delays, ask FM to speed up payments

Punjab is awaiting Rs 2,100 crore as compensation while arrears stand at Rs 2,000 crore

HC issues notice to Centre over input tax credit denial to restaurants

GST rate on restaurants was cut from 18 per cent to 5 per cent in November 2017, but without any input tax credit

Simplifying GST: Govt plans mass outreach programme for return filers

FM Sitharaman meets stakeholders; pan-Indian initiative for new forms on December 7

Cut GST on matchbox to 12%, on par with raw materials: Tamil Nadu minister

Raju, along with eight representatives of match stick manufacturers' associations, said the GST on matchboxes was high and needs to be brought down at par with the tax rate on raw materials

Deadline for GST filing, returns extended to March 31; forms simplified

The earlier deadline for filing of GSTR-9 and GSTR-9C for 2017-18 was November 30, 2019, while that for 2018-19 was December 31, 2019

Taxing issue

Lower transaction costs alone won't increase capital market activity

Experts suggest Singapore GST model to ensure ease of compliance in India

Citing the Singapore model, experts have suggested the introduction of new user-friendly measures to ensure ease of Goods and Services Tax (GST) compliance in India. The grievance redressal mechanism under the Singapore GST is very refined unlike Indian GST where the help lines are mostly of no help and advance ruling authorities are heavily revenue biased, failing to achieve the purpose with which they were formed, said Sandeep Chilana, managing partner, Chilana & Chilana law offices. Ease of compliance is the foremost thing India needs to learn and adopt from implementation of value added tax or Goods and Services Tax in developed jurisdictions, including Singapore, he said. While India is shortly moving to a single form regime, the information required to be filed is still extensive. The other important aspect is clarity in law. Despite two years having passed, there are still many grey areas such as inter-office services which require immediate attention, Chilana ...

GST only needs simplification

The truth is that tax collection is never much affected by a complicated tax structure

Food grain may be brought under GST, tax mechanism likely to be rejigged

Through this route, registered entities can pay GST on behalf of unregistered players

Letter to BS: Govt needs to focus on increasing its revenue from GST

The government needs to focus on increasing the revenue on GST and help the retailers achieve a good margin.

Govt plans to introduce e-way bill on gold movement to check GST evasion

Currently, the movement of gold is excluded from the e-way bill system

Gas and ATF likely to be brought under GST soon, says govt source

Experts said that the ATF price would come down if it is kept in the 18% GST bracket

Govt to appoint officers to exclusively handle GST, Customs complaints

Industry and tax experts have hailed the decision saying that the move would ensure an escalation point for taxpayers in case their grievances are not addressed at designated level

Let's dwell on brighter notes

Businesses have offered attractive discounts to lure buyers and reduce inventory. With lower prices, abundant liquidity in the system and lower interest rates, the fall in demand might be arrested

Agents of foreign firms seek GST exemption, cite govt body clarifications

These providers, indenting agents in technical parlance, went to the Gujarat high court against the GST levied on them

FY20 gross tax revenue likely to fall short by around Rs 2 trillion

FinMin is said to have shared assessment with 15th FC