GST paying companies alert! Changes in monthly GST payment form GSTR-3B? GST Council to decide next week
The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit (ITC), but report suppressed sales in GSTR-3B to lower GST liability.
Jun 24, 2022, 13:28 PM IST
Medical health insurance premiums to be taxed now, says AAR
The Telangana AAR decision came in response to a request by M/s. Hyderabad Metropolitan Water Supply and Sewerage Board, which wanted to know if it was obliged to pay GST on medical insurance premiums.
Jun 12, 2022, 12:35 PM IST
GST revenues hike 44% y-o-y to nearly Rs 1.41 lakh crore in May 2022
GST revenue increased by 44 per cent increase year-on-year to nearly Rs 1.41 lakh crore.
Jun 01, 2022, 15:14 PM IST
GST council recommendations not binding on Centre, States but have persuasive value: SC
The bench said that as per Article 246A, both Parliament and the State legislature have equal power to legislate on matters of taxation.
May 19, 2022, 16:33 PM IST
GST filing deadline shifted to May – Companies, taxpayers must read THESE points
GST Filing deadline has been extended due to technical glitch in the GST system, for which Infosys was awarded a Rs 1,380 crore.
May 18, 2022, 13:03 PM IST
Govt mulls extending April GST payment deadline; asks Infosys to fix glitch on portal
GSTR-3B is filed in staggered manner between 20th, 22nd and 24th of every month for different categories of tax payers.
May 17, 2022, 22:23 PM IST
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
