Page 41 - Gst

Planning to buy e-vehicle? EV firms trim prices after GST breather

Union Finance Minister Nirmala Sitharaman had announced a reduction in GST on EVs from 12 per cent to 5 per cent in her maiden Budget

Pay up interest for delay in paying GST refunds: Gujarat High Court

Saraf Natural Stone, a partnership firm, had filed a claim of GST refund. However, there was substantial delay by the authorities in granting of refund

CAG flags deficiencies in functioning of GST

The return mechanism's complexity and technical glitches resulted in rolling back of invoice matching, rendering the system prone to ITC fraud

Maha to ensure 80% jobs for locals, block GST refund to non-compliant firms

Maharashtra was the first state to frame a rule in 1968 that all industrial establishments should hire at least 80% local people

Auto sales in July fall for 9th consecutive month due to poor demand

Cumulative sales of India's top five manufacturers of passenger vehicles dropped by 30.6% to 172,992 units over July last year

GST collection over Rs 1 trillion in July despite subdued CGST and SGST

However, the central and state portions remained subdued, posing a challenge for the revenue target for the financial year

Taxation blues

CAG raises valid issues on revenue system inadequacies

GST collections in July cross Rs 1-trillion-mark after dropping in June

Central GST was Rs 17,912 crore; and SGST at Rs 25,008 crore

Letter to BS: Slowdown in tax collection is not because of evasion

Government-owned companies which manufacture a very large amount of goods and services do not evade

2 years after roll-out, GST glitches still exist, says CAG report

Report also points to slowdown in revenues in FY18

CAG flays tax authorities over error in assessment of income, taxes

CAG found irregularities in 340 high-value cases pertaining to corporation taxes with the tax effect of Rs 4,866 crore

GSTN should test system, fix deficiencies before roll-out to public: CAG

Commenting on the GST implementation, the report said one significant area where the full potential of GST has not been achieved is the roll-out of the simplified tax compliance regime

GST Council trims rate on EVs to 5% in bid to boost electric mobility

EVs, chargers to be taxed at 5%, against 12% and 18% at present

Govt's big push for EVs: GST Council trims rate on EVs, chargers to 5%

Hiring of electric buses (of carrying capacity of more than 12 passengers) by local authorities was exempted from GST

GST rate on EVs cut from 12% to 5%; reduced rate effective from August 1

The GST Council has also approved exemption from GST on hiring of electric buses by local authorities

Petroleum products should be brought under GST, suggests Assocham

The two-year period for keeping petroleum products outside GST is almost over, said Assocham

Nasscom asks govt to reconsider clarification on intermediary services

A circular from the Central Board for Indirect Taxes and Customs that was released last week said the services offered by the IT and ITeS sectors at the back end may attract 18% GST

18% GST on flat owners on monthly RWA fee of over Rs 7,500: Govt

Finance Ministry circular clarifies how residents' associations should charge GST.

There is a degree of uncertainty over GST collections of states: N K Singh

Arup Roychoudhury and Indivjal Dhasmana talk to NK Singh, Chairman of Fifteenth Finance Commission about its report which will be submitted in less than 5 months

Eager to assemble more cars locally, but high taxation a hurdle: JLR India

The company said lowering of GST from the current 28 per cent to 18 per cent would help the industry recover from the slowdown and in turn spur employment generation