Goods and Services Tax

GST collection touches all-time high in April at Rs 1.68 lakh crore

The gross GST collection has crossed the Rs 1.5 lakh crore-mark for the first time in April 2022.

May 01, 2022, 15:19 PM IST

GST on online gaming, horse racing, fantasy games: GST Council may take final call soon

Speaking to reporters ahead of the GoM in the national capital on May 2, Godinho, the state's representative to the Council, also said that after the recommendations made by the GoM, the GST council would take a final call on the taxation policy for the three services.

Apr 29, 2022, 16:37 PM IST

Ministers' panel yet to take a view on GST rate rationalisation

The group hasn't taken up a proposal to raise the lowest or threshold slab under GST to 8 per cent from 5 per cent, said the source who wished not to be identified.

Apr 19, 2022, 13:40 PM IST

GST rates on footwears must be 5%, 12% which was applicable till 2021: CAIT

Besides, the two bodies also urged Union Commerce Minister Piyush Goyal to make BIS standards applicable only on footwear costing above Rs 1,000.

Apr 07, 2022, 16:53 PM IST

GST rules changing from today, April 1 --Lakhs of companies in India to be impacted

As per the new rules, companies with turnover of more than Rs 20 crore will have to generate B2B e-invoices.

Apr 01, 2022, 17:05 PM IST

GST rules changing from April 1, to impact lakhs of companies in India

Companies with turnover of more than Rs 20 crore will have to generate B2B e-invoices.

Mar 29, 2022, 13:06 PM IST

Govt bringing cryptocurrency under GST? Here's what you need to know

GST officials believe that cryptos, by definition, are akin to lottery, casinos, betting, gambling, and horse racing, all of which are subject to a 28% GST on the total value.

Mar 21, 2022, 17:06 PM IST

GST Council may consider proposal to raise lowest slab to 8%, rationalise tax slabs

Currently, GST is a four-tier structure attracting a tax rate of 5, 12, 18 and 28 per cent.

Mar 07, 2022, 11:17 AM IST

GST collection up 18% at over Rs 1.33 lakh cr in Feb; Omicron impact dents MoM mop-up

This is for the fifth time in the current fiscal that the Goods and Services Tax (GST) collection has crossed Rs 1.30 lakh crore mark.

Mar 01, 2022, 16:13 PM IST

'Gabbar Singh Tax' critique of GST knee-jerk, disservice to our institutions: FM

Revenue Secretary Tarun Bajaj said the GST is a very interesting thing where neither the states nor the Centre can decide and the decisions are basis a committee system which evaluates the process.

Feb 21, 2022, 19:54 PM IST

GST collection tops Rs 1.38 lakh crore in January

The highest monthly GST collection has been Rs 1,39,708 crore in the month of April 2021.

Jan 31, 2022, 19:57 PM IST

GST collection in November tops Rs 1.30 lakh crore, 2nd highest since roll out

GST collection in November stood at Rs 1.31 lakh crore, indicating economy recovery.  

Dec 01, 2021, 17:43 PM IST

Clothes, footwear to get costlier from January 2022 as GST increases from 5% to 12%

From January 2022, the GST rate on fabrics will be raised to 12 percent from 5 percent.

Nov 20, 2021, 12:01 PM IST

GST collection surges to Rs 1.30 lakh crore in October, 2nd highest since implementation

The gross GST revenue collected in the month of October 2021 is Rs 1,30,127 crore of which CGST is Rs  23,861 crore, SGST is Rs  30,421 crore, IGST is Rs  67,361 crore.

Nov 01, 2021, 15:13 PM IST

GST collection remains over Rs 1.17 lakh crore in September, tops Rs 1 lakh crore for 3rd straight month

GST collections for the month of September 2021 remained above the Rs 1-lakh-crore mark for third straight month. 

Oct 01, 2021, 12:48 PM IST

GST returns alert! Businesses defaulting on monthly returns won’t be allowed to file GSTR-1

The GST Council in its Lucknow meeting on September 17 has decided to take a host of measures to streamline compliance, including mandatory Aadhaar authentication for businesses to file refund claims.

Sep 19, 2021, 11:01 AM IST

Non-filers of monthly GST return to be barred from filing GSTR-1 from January 1, 2022

These moves would help prevent revenue leakage due to evasion of Goods and Services Tax (GST).

Sep 18, 2021, 19:04 PM IST

Concessional GST rates on COVID-related drugs extended till December 31, says Nirmala Sitharaman

The meeting held in Lucknow, Uttar Pradesh was the 45th meeting of the GST council and the first in-person one in nearly two years. 

Sep 17, 2021, 20:16 PM IST

GST Council meeting today: Petrol to sell at Rs 75 per litre? Food delivery to get expensive? Here’s what you can expect

If the proposal gets the nod from the GST Council, then petrol is expected to sell at just Rs 75 per litre while diesel will retail at about Rs 68 per litre, according to estimates of SBI economists. 

Sep 17, 2021, 10:25 AM IST

45th GST Council meet to happen on September 17: Check out the key issues that will be addressed

The GST portal will then be utilised for registration, tax payment, IT returns, and computation and settlement of IGST.

Sep 12, 2021, 23:34 PM IST