Page 47 - Gst

Govt panel favours lowering of GST rates on under-construction houses

At present, GST is levied at 12% with ITC on payments made for under-construction property

Gujarat HC strikes down restrictive provision for export sops under GST

Order comes as big relief for exporters who were facing huge compliance issues; provision to be challenged in other courts too

Telcos seek GST waiver on spectrum fees, Rs 35k-cr input credit adjustment

COAI members include Bharti Airtel, Vodafone Idea and Reliance Jio. Mathews, however, said Reliance has a dissenting view in the matter

GST collections cross 1 trn in Jan, 2nd hightest monthly mop-up since April

The total number of sales return or GSTR-3B filed for the month of December up to January 31, 2019 is 73.3 lakh

Pre-budget breather: GST collection crosses Rs 1 trillion in January

Enhanced revenue from GST would help govt reduce pressure on the fiscal deficit in the current financial year when the ministry is expecting a shortfall of about Rs 50,000 crore in Centre

Modi govt's tax reforms: GST, a game-changer for the Indian economy

The August 2018 report of the RBI suggests that Rs 15.31 trillion of Rs 15.41 trillion demonetised currency have returned to the banking system

Tribunalisation of GST justice necessitates tweaks

The inconsistency in the execution of the appeal mechanism as contemplated in the statute needs to be set right at the earliest, both at the Centre and the state level

Taxman may examine high usage of input tax credit to set off GST liability

The issue of high ITC was flagged at the meeting of the Group of Ministers (GoM) which was set up by the GST Council to look into the reasons for revenue shortfall being faced by a large number of sta

GST gets its first dispute resolution tribunal on 'place of supply' issue

The decision was taken six months after the GST Council in July approved setting up one national and three regional benches of the appellate tribunal

Cabinet approves setting up of a centralised GST Appellate Authority

The setting up of a centralised AAAR would require amendments to the GST Acts

Panel on revenue shortfall to study GST collection on services by states

Out of 31 states, only Andhra Pradesh and five north eastern states -- Mizoram, Andhra Pradesh, Manipur, Sikkim and Nagaland -- have recorded revenue increase post the GST roll out

Explained: GST Council's decisions and their impact on small business

CRISIL Research believes the impact of these decisions on the MSME sector would be low to moderate at best, considering that the GST is only a part of their woes

Kerala High Court stays GST on tax collected at source on cars

Besides auto, this kind of TCS is also imposed on sale of scrap and bullion above Rs two lakh

Coming to sense with absurdities

When the Goods and Services Tax (GST) was introduced in July 2017, the government withheld any exemption from IGST on import under all categories of advance authorization

Delhi HC stays Rs 383-crore fine on Hindustan Unilever for GST profiteering

National Anti-profiteering Authority had imposed a fine of Rs 383 crore

E-way bill to be integrated with FASTag to track GST evasion from April

Touted as an anti-evasion measure, e-way bill system was rolled out on April 1, 2018, for moving goods worth over Rs 50,000 from one state to another

'Proportionate benefits must be surrendered for refund of export proceeds'

On future exports, one may negotiate the prices suitably, says T N C Rajagopalan

Exaggeration of evasion is dangerous

The reason why blatant exaggeration of evasion figures is dangerous is that it distorts the policy decision

GST exemption has brought cheers to MSMEs, but not everybody's happy

Not everyone is happy with the sops given to small businesses under the GST regime as it encourages distortions within the tax system

FinMin plans to prevent composition dealers from charging GST from buyers

The measure, once implemented, would check the widespread practice of composition dealers of charging GST from purchasers and not depositing it with the exchequer, an official said