GST

Nirmala Sitharaman responds to Mamata Banerjee’s letter on COVID-19 tax

She further said that if Integrated GST (IGST) Rs 100 is collected on an item, Rs 50 accrues to the Centre and the States each as Central GST and State GST respectively. Further 41 percent of the CGST revenue is devoted to States. So out of a collection of Rs 100, as much as Rs 70.50 is the share of the states.

May 09, 2021, 19:07 PM IST

Now you can track refund application without logging into GST Portal: Here’s how to do it

There is one way with which you can easily do it, just by logging in to the GST portal. But if you are looking for an alternative, there is another option that you can try without logging into the GST portal.

May 09, 2021, 17:24 PM IST

Good news for businesses, taxpayers! Various GST relief measures announced, check here

For registered persons having aggregate turnover above Rs 5 crore, a 9% interest rate, instead of the usual 18%, will be levied “for the first 15 days from the due date of payment of tax. 

May 02, 2021, 17:40 PM IST

Govt waives late fee for delayed filing of March, April GSTR-3B, tax payment

Taxpayers with a turnover of over Rs 5 crore have been given 15 days extra time to file monthly summary return GSTR-3B and pay taxes without paying any late fees. They would be required to pay a lower 9 percent for these 15 days, after which the rate would be 18 percent.

May 02, 2021, 12:47 PM IST

Good news! IGST on oxygen concentrators for personal use slashed to 12%

The government on Friday had allowed imports of oxygen concentrators for personal use through post, courier or e-commerce portals under the gift category amid increasing demand for oxygen due to rising COVID-19 cases

May 01, 2021, 23:22 PM IST

GST revenue hits all-time high of Rs 1.41 lakh crore in April, goes more than Rs 1 lakh crore for 7th time

The gross GST revenue collected in the month of April 2021 is at a record high of Rs 1,41,384 crore, of which CGST is Rs 27,837 crore, SGST Rs 35,621 crore, IGST Rs 68,481 crore (including Rs 29,599 crore collected on import of goods) and cess Rs 9,445 crore (including Rs 981 crore collected on import of goods).

May 01, 2021, 15:34 PM IST

SC to hear plea seeking GST exemption on COVID-19 related drugs, medical equipment

The intervention application has been filed by an NGO, 'Public Policy Advocates', in the pending suo motu case by the apex court on the distribution of essential supplies and services during the pandemic.

Apr 30, 2021, 06:48 AM IST

CBI arrests former GST Superintendent on corruption charges

Gandhi has been accused of acquiring money to the tune of Rs 3.74 crores through illegal means.

Apr 21, 2021, 19:27 PM IST

GST officers to be soon armed with real-time data on vehicles moving without e-way

The tax officers would also be provided analysis reports on identifying e-way bill EWB with no movement of goods as it would help officials identifying cases of circular trading. It would also provide reports on recycling of e-way bills for tax evasion prone commodities to help officers in identifying tax evaders.

Apr 18, 2021, 16:32 PM IST

Businessman arrested for Rs 101 crores GST fraud in Ghaziabad

On the basis of specific intelligence, the officers of CGST Commissionerate had conducted a series of searches at 16 places in Ghaziabad, Gautam Buddh Nagar, and Delhi related to Vishal Steel Suppliers and his supplier firms on March 23.

Apr 09, 2021, 22:28 PM IST

6 digits HSN Code now mandatory for GST taxpayers, check direct link here

The codes prescribed in the Customs tariff are used for the GST purposes too as has been specifically mentioned in the GST rate schedule.

Apr 09, 2021, 12:11 PM IST

March GST collection touch new record high at Rs 1.23 lakh crore

The GST revenues during March 2021 are the highest since introduction of GST. 

Apr 01, 2021, 16:29 PM IST

Govt releases Rs 30,000 cr to states as GST compensation

The total amount of GST compensation released so far this fiscal ending March 31 is Rs 70,000 crore. This is over and above the Rs 1.10 lakh crore released to states under the special borrowing mechanism to compensate them for shortfall in the Goods and Services Tax (GST) collection this financial year.

Mar 30, 2021, 22:39 PM IST

No proposal to bring petrol, diesel, ATF, gas under GST: FM Nirmala Sitharaman

When the GST was introduced on July 1, 2017, amalgamating over a dozen central and state levies, five commodities - crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) - were kept out of its purview given the revenue dependence of the central and state governments on this sector.

Mar 16, 2021, 11:40 AM IST

Rs 1.06 Lakh crore GST compensation shortfall released to states

Till now, 96 percent of the total estimated GST compensation shortfall has been released to the States & UTs with Legislative Assembly. Out of this, an amount of Rs. 97,242.03 crore has been released to the States and an amount of Rs. 8,861.97 crore has been released to the 3 UTs with Legislative Assembly.

Mar 09, 2021, 15:53 PM IST

Bharat Bandh today: All commercial establishments to remain closed, over 8 crore traders to protest against GST, fuel price hike

Nearly 40, 000 trade associations, which represent eight crore traders of the country, have extended support to the Bharat Bandh call given by the CAIT. The CAIT said in a release that the traders will stage dharnas (protests) at as many as 1,500 places across the nation on February 26, demanding the Centre, state governments and the GST Council to keep in abeyance the "draconian" provisions of GST.

Feb 26, 2021, 07:16 AM IST

Bharat Bandh today: Check what will remain closed as traders announce a day-long strike on Friday

In a statement, CAIT the umbrella body which has called for the Bharat Bandh said that over 8 crore traders belonging to more than 40,000 trade associations across the country will observe the `Bharat Vyapar Bandh` to protest against some of the "draconian, arbitrary and critical" amendments made recently in GST rules. The CAIT has announced that all commercial markets across the country will remain closed on February 26.  

Feb 25, 2021, 19:08 PM IST

Bharat Bandh Tomorrow 26 February: All commercial markets to remain closed, over 8 crore traders to protest against GST, fuel price hike

The Confederation of All India Traders (CAIT) has called a Bharat Bandh tomorrow on 26 February during which the traders will stage dharnas (protests) at as many as 1,500 places across the nation, demanding the Centre, state governments and the GST Council to keep in abeyance the "draconian" provisions of GST.

Feb 25, 2021, 12:03 PM IST

Rakesh Jhunjhunwala says he will never buy Bitcoin, Centre should ban Cryptocurrencies

The Government or Reserve Bank of India has not authorised any VCs as a medium of exchange. Further, the Government or any other regulator in India has not given license to any agency for working as exchange or any other kind of intermediary for any VC. Persons dealing in them must consider these facts and beware of the risks involved in dealing in VCs.

Feb 23, 2021, 16:23 PM IST

FM Sitharaman says bringing petrol, diesel under GST regime could help in lowering fuel prices

Sitharaman, who had increased central excise duty on petrol and diesel by a record margin last year to mop up gains arising from international oil prices plunging to two- decade low, remained non-committal on cutting taxes to give relief to consumers.

Feb 22, 2021, 11:58 AM IST