Goods and Services Tax

Centre to release GST dues to all states in 2 instalments

Union Minister of State for Finance and Corporate Affairs Anurag Thakur gave the reply in Lok Sabha on Monday after several MPs from Telangana and Odisha complained during Question Hour that their states were not getting the share of the GST and Integrated Goods and Service Tax (IGST).

Feb 03, 2020, 13:49 PM IST

GST collections for December 2019 rise by 16% year-on-year to Rs 1.03 lakh crore

The IGST collected from imports, the total revenue during December 2019, increased by 9 per cent in comparison to the revenue during December 2018.

Jan 01, 2020, 20:34 PM IST

Ahead of crucial meeting, Centre releases Rs 35,000 crore GST payment to states

The Centre on Monday (December 16) released pending GST collection of about Rs 35,000 crore to states and Union Territories. 

Dec 16, 2019, 20:19 PM IST

Nirmala Sitharaman invites suggestions on easing GST filing process

The Central GST and State GST authorities have organised a nationwide GST stakeholder feedback on new GST return for getting an on-the-spot response to the new GST returns to be introduced from April 1, 2020.

Dec 07, 2019, 10:56 AM IST

GST collection breaches Rs 1 lakh crore mark in November: Finance Ministry

The Finance Ministry said in a statement that of gross Rs 1,03,492 crore in November, CGST is Rs 19,592 crore, SGST is Rs 27,144 crore, IGST is Rs 49,028 crore (including Rs 20,948 crore collected on imports) and Cess is Rs 7,727 crore.

Dec 01, 2019, 15:19 PM IST

No GST on salaries paid to chief executive officers or employees, says CBIC

The Central Board of Indirect Taxes and Customs (CBIC) clarified on Friday (Novmber 15) clarifies that salaries are not subject to Goods and Services Tax (GST). It further added that no GST has been demanded on salaries paid to chief executive officers or employees.

Nov 15, 2019, 19:28 PM IST

GST fraud of Rs 138 crore busted in Odisha, four arrested

The accused have been identified as Rama Chandra Mallick and Aditya Nayak both partners in Biraja Steel, Dindayal Agarwal, lessee of Biraja Steel, and Atul Bansal. Atul Bansal is the mastermind in the inter-state GST fraud. 

Oct 25, 2019, 20:53 PM IST

GST may be flawed but can't be damned now: FM Nirmala Sitharaman

Finance Minister said even though people are facing the problems due to the GST framework but they need to own it up.

Oct 11, 2019, 21:14 PM IST

Gross GST revenue in September totals Rs 91,916 crore

Gross revenue on account of Goods and Services Tax (GST) totalled Rs 91,916 crore in September, 2.67 per cent lower in the year-ago period, the government said on Tuesday. Of this amount, the Central was Rs 16,630 crore, State GST Rs 22,598 crore and Integrated GST Rs 45,069 crore (including Rs 22,097 crore collected on imports) and cess Rs 7,620 crore.

Oct 01, 2019, 19:18 PM IST

At Rs 1.45K crore, govt's burden for reducing corporate tax is 33% of FY19-20 defense budget

The total estimated expenditure to be born by the government is 33.64 percent of India's total Defense Budget at Rs 4,31,010.79 crore.

Sep 20, 2019, 15:38 PM IST

How India Inc reacted to FM Nirmala Sitharaman's announcement on corporate tax, MAT rate cuts

The Finance Ministry on Friday announced that corporate tax rates will be slashed to 22 percent for domestic companies and 15 percent for new domestic manufacturing companies.

Sep 20, 2019, 12:54 PM IST

Corporate tax rates slashed to 22% for domestic companies, 15% for new domestic manufacturing companies

The effective tax rate for these companies shall be 25.17% inclusive of surcharge & cess. Also, such companies shall not be required to pay Minimum Alternate Tax.

Sep 20, 2019, 11:24 AM IST

GST Council to hold crucial meeting on Friday; hotel, auto sectors pin high hopes

Auto sector has demanded that the GST should be brought down to 18 percent from 28 percent to reverse the consumption slowdown.

Sep 20, 2019, 10:04 AM IST

GST Council to hold crucial meeting on Friday; auto sector unlikely to get any respite

Auto sector has demanded that the GST should be brought down to 18 percent from 28 percent to reverse the consumption slowdown.

Sep 19, 2019, 18:20 PM IST

GST panel unlikely to favour tax rate cut for auto sector

A government study, attached to the agenda of a Sept. 20 GST panel meeting, has said the total annual revenue loss could be as much as 500 billion rupees ($6.95 billion), if the panel decided to lower tax rates for the auto sector to 18% from 28%.

Sep 18, 2019, 10:35 AM IST

Centre may raise auto sector's plea at GST Council

The industry has demanded that the GST should be brought down to 18 per cent to reverse the consumption slowdown.

Sep 06, 2019, 18:13 PM IST

GST revenue collection at Rs 98,202 crore in August

The total number of GSTR 3B Returns filed for the month of Julyup to 31st August, 2019 is 75.80 lakh.

Sep 02, 2019, 12:41 PM IST

Govt extends last date to file GST annual returns till November 30

Earlier, GST taxpayers were supposed to file required returns by August 31.

Aug 27, 2019, 12:03 PM IST

GST revenue collections rise to Rs 1.02 lakh crore in July

The total number of GSTR 3B Returns filed for the month of June up to 31st July, 2019 is 75.79 lakh.

Aug 02, 2019, 12:59 PM IST

Hawai chappal, Mercedes can't have same GST, rationalisation of slabs needed: Jaitley

The GST was implemented through a gala ceremony held in the central hall of Parliament at the midnight of June 30, 2017 and came into effect from July 1, 2017.

Jul 01, 2019, 17:30 PM IST