Page 48 - Gst

Sushil Modi to head GoM on GST revenue shortfall faced by states

Among the union territories, Puducherry is facing maximum shortfall of 43%

GST Council nod to calamity cess a precedent for other states: Kerala FM

He said the problem with GST was that it did not give states the flexibility to raise additional resources to address local problems such as natural calamities

Chidambaram credits Cong state finance ministers 'for sorting out GST mess'

'MSME sector has got some relief, 'thanks to the role played by the Congress finance ministers,' says Chidambaram

Govt doubles GST exemption limit for MSMEs; 2 million businesses to benefit

Businesses with turnover up to Rs 1.5 crore can avail composition scheme

Doubling GST exemption limit to help MSMEs, ease of doing biz: India Inc

the decision of the Council would lower the cost of products and improve competitiveness of the MSME sector, says Industry chamber CII

GST threshold limit increase to support growth in textile sector

The GST council has also raised the composition scheme turnover threshold from Rs 1 crore to Rs 1.5 crore

Cartels set up 'briefcase' firms, defraud GST regime of thousands of crores

Fake companies are floated with the intention to fraudulently pass on input tax credit by issuing fake invoices without any supply of goods

U-shaped recovery in collecting evaded indirect taxes: Finance Ministry

The evasion is slated to grow more than twofold in two years, and about 50% in one year of GST implementation

GST, excise, service tax evasion shoots up to Rs 48,555 cr in Apr-Dec

An amount of Rs 9,959.29 crore of GST evasion has been recovered between April 2018 and December 2018, MoS Finance told Rajya Sabha

From oil block auction to GST Council meet, here're the top 10 headlines

Here are the top 10 stories that made news on Sunday

GST puts horse racing in chokehold as betting turnover plummets

Black market betting on the rise

GST panel for Kerala levying 1% cess for 2 yrs to fund flood rehabilitation

The GST law provides for levy of special taxes for a specified period to raise additional resources during any natural calamity or disaster.

GST in a new avatar: How the tax could pan out after the Lok Sabha polls

While Congress promises to overhaul the tax, BJP is talking about single standard rate. Business Standard explores five possible changes GST may undergo once the new govt comes in

What to expect on the tax front in 2019

India is on the brink of overhauling its tax system, implementing the BEPS project and seeing a further evolution of the GST despite this being an election year

GST relief to MSMEs, levy of calamity cess to be decided on Sunday

Currently, businesses with an annual turnover of up to Rs 20 lakh are exempt from GST

As GST non-compliance rate rises 3-fold, govt set to strike at defaulters

Fake invoices to claim input tax credit increased from only 4 cases involving Rs 9.75 crore in 2017-18 to 499 involving Rs 3894.94 crore in 2018-19

CGST shortfall may force govt to cut spending to meet fiscal deficit target

Adjusting for tax devolution to states, the Centre is possibly staring at a shortfall of Rs 58,000 crore

Jewellery exporters welcome govt move to exempt gold import from IGST

We are also expecting a similar relief to the exporters of articles of silver and platinum very soon, said Pramod Kumar Agrawal, chairman of Gem & Jewellery Export Promotion Council

GST Council meet on Jan 10; to consider 5% tax on under-construction flats

This would be the 32nd meeting of the council, which is chaired by Finance Minister Arun Jaitley and comprises his state counterparts

Govt waives late fee for GST returns during July 2017-September 2018

The fee for late filing of the returns is Rs 25 per day for Central GST and an equal amount under State GST