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CBEC sanctions Rs 1 crore to each zone for GST outreach

CBEC sanctions Rs 1 crore to each zone for GST outreach

Racing against time for GST rollout, Central Board of Excise and Customs (CBEC) chief Vanaja N Sarna has sanctioned Rs 1 crore to each of 23 zones to conduct an outreach programme about the new tax regime.

GST Council to finalise draft model GST law today

GST Council to finalise draft model GST law today

The GST Council is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers on Saturday.

GST Council to finalise draft model GST law on Saturday

GST Council to finalise draft model GST law on Saturday

The GST Council, which is meeting on Saturday, is likely to finalise the draft model GST law including final drafting of the anti-profiteering clause to ensure benefit of lower taxes gets shared with consumers.

GST Council to discuss anti-profiteering clause at Feb 18 meet

GST Council to discuss anti-profiteering clause at Feb 18 meet

A critical anti-profiteering clause in the draft Goods and Services Tax law to ensure that the benefit of lower taxes gets shared with consumers is likely to be finalised at the 10th meeting of the all-powerful GST Council this weekend.

'Hates suits but loves gold' - Arun Jaitley takes a dig at Rahul Gandhi

 Taking a jibe at Congress vice president Rahul Gandhi, Union Finance Minister Arun Jaitley said on Thursday that he could not understand the politics of hatred for (a) 'suit' but love for gold.

State FMs to meet on Nov 20 to discuss draft GST laws

 State finance ministers are scheduled to meet on November 20 to discuss the model Goods and Services (GST) Tax law as well as the integrated-GST or iGST legislation.

Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Govt seeks Parl nod for Rs 11000 cr CST compensation to states

Government Monday sought approval of Parliament to release about Rs 11,000 crore to states and union territories to compensate them for revenue loss on account of phasing out of Central Sales Tax (CST).

Sales tax hike dents Japanese economy

Despite some good news -- unemployment held at a seven-year low and Tokyo`s war on deflation logged another victory -- the slate of economic data confirmed fears that jacking up the consumption tax would deal a blow to spending and the wider economy.

Essar Oil moves SC for extension of time to pay sales tax dues

Essar Oil Ltd on Friday moved the Supreme Court seeking more time for paying outstanding sales tax dues to Gujarat government on the ground that it is facing financial constraints due to economic slowdown and not given tax benefits unlike other refineries.

'Slash sales tax on ATF, rationalise tax and duty structure'

The representatives sought other measures to encourage regional connectivity and engineering activities.

Essar Oil to pay sales tax to Guj Govt in installments: SC

Essar Oil Ltd had approached the apex court against the order of the Gujarat High Court which had refused any relief to it for making the payment in installments.

Guj HC rejects Essar Oil plea, asks Govt to expedite recovery

The division bench of Justice P B Majmudar and Justice Mohinder Pal rejected the petition of EOL which had sought that the company be allowed to pay the tax dues of Rs 6,414 cr in eight yearly instalments and grant it exemption from paying penalty and interest of Rs 2000 crore on it.

Hike CST to 4% or compensate adequately: States to Centre

Irked over Centre's approach over CST compensation, states on Saturday asked it to either compensate them adequately for their revenue loss due reduction in the Central Sales Tax (CST) or increase the levy to earlier rate of 4 percent.

Essar Oil registers Rs 3,986 cr loss; to raise Rs 3,000 cr

Essar Oil Ltd on Friday reported a Rs 3,986 crore net loss in the third quarter after a one-time reversal of sales tax revenue and said it will raise Rs 3,000 crore in fresh equity capital to shore up the networth.