Page 9 - Gst

GST Council likely to meet early Jan, may discuss rate rationalisation

At the 45th GST Council Meeting in Lucknow on September 17, the Council had decided to rectify the inverted duty structure for footwear and textiles

After papad, cheese balls another food item to trigger GST dispute

The petitioner, Savencia Fromage & Dairy Pvt Ltd, argued for its inclusion under cheese which attracts a 12 per cent rate of GST

Fitment panel's GST recommendations may cause immediate spike in inflation

The 5% tax rate broadly covers most food items, so an increase here would directly impact the monthly grocery budget of households

Quitting without serving notice period? You may have to pay GST on salary

Employees liable to pay GST on salaries received in lieu of notice period, says an Advance Authority of Advance ruling

At Rs 1.31 trn, India's Nov GST collection second-highest in a month yet

The finance ministry said the April figures were linked to year-end revenues

GST rates and manufacturing growth

The capital goods component is especially important now in view of the mandated guidelines for installation of pollution control equipment

Top headlines: Int'l flights not from Dec 15; Nov GST mop up at Rs 1.31 trn

Business Standard brings you the top stories on Wednesday

A tough yarn for textiles: High input costs, GST expected to crimp margins

From January to November, yarn prices reportedly increased from Rs 220 per kg to around Rs 350

Maha has most GST dues pending with Centre, Cong says 'stepmom treatment'

The revelations came in response to a RTI query filed by activist Binod Agarwal from the Ministry of Finance, Under Secretary (State Taxes-II) and CPIO Mahendra Nath

GST Council must realise that lower rates lead to better compliance

The finance minister, as the Council's Chairperson, must convince states to bring more items down from the 18 percent and 28 percent slabs.

Madras High Court quashes part of CBIC circular on fish meal

This circular had clarified an earlier circular, issued a few days ahead of the roll out of GST from July 1, 2017

PHD chamber urges GST Council to rationalise rates in next meeting

Industry body PHDCCI on Saturday urged the GST Council to rationalise rates, stating that the current rates are not in sync with the demand creation and employment generation in the country

Meeting of Group of Ministers on GST rate rationalisation deferred

A meeting of the panel of state finance ministers looking into GST rate rationalisation has been deferred, sources said. The Group of Ministers (GoM) on rate rationalisation, headed by Karnataka Chief Minister Basavaraj Bommai, also includes West Bengal Finance Minister Amit Mitra, Kerala Finance Minister K N Balagopal, and Bihar Deputy Chief Minister Tarkishore Prasad. It has met twice so far and was scheduled to meet on November 27 to consider recommendations of the Fitment committee regarding GST rate and slab changes. Sources said the meeting has been deferred and the GoM would submit its report to the GST Council, chaired by the union finance minister and comprising state counterparts. The Council, which meets once every quarter, is slated to meet next month. Sources had earlier said the Fitment committee, comprising tax officers from states and the Centre, has made many "sweeping" recommendations regarding slab and rate changes and taking items out of the exemption list. All

5% GST on auto-rickshaw services provided through e-commerce platforms

Auto-rickshaw services provided through e-commerce platforms would attract 5 per cent GST from January 1, 2022

Income tax department exempts e-auctioneers from 1% TDS

The department clarified that when these taxes are separately disclosed on invoices, then they have to be deducted before calculating the TDS

Producers' association writes to Sitharaman to abolish GST on film industry

The association, in its letter addressed to the FM, requested Sitharaman to consider "the pain and agony" the industry is going through

GST notification to correct tax anomaly in textiles: FM

Industry says will benefit only a chosen few

GoM to meet on Nov 27 to finalise report on GST rate rationalisation

Sources said the Fitment committee, comprising tax officers from states and the centre, has made many "sweeping" recommendations

Kerala FM fires salvo at Centre over fuel surcharge, says GoM meet Nov 27

Will raise state woes on 15th finance commission at GST Council

GST notification to correct tax anomaly in textiles: FM Sitharaman

Industry says will benefit only a chosen few