GST on round papad, not on square one? Tax department busts Harsh Goenka’s claim
Goenka had pointed out that that round papads are exempt from GST while the tax is levied on square shaped papads.
Sep 01, 2021, 20:32 PM IST
GST collection tops Rs 1 lakh crore for 2nd straight month in August
In August, GST collections topped Rs 1 lakh crore for the second straight month, signalling a swift economic recovery.
Sep 01, 2021, 15:34 PM IST
From PF, PAN-Aadhaar linking, LPG to cheque clearing system: These 10 rules will change from September
Here are 10 rules impacting common man that will change from September 2021.
Sep 01, 2021, 10:02 AM IST
From PF, PAN card to cheque clearing system: These 10 rules will change from September
Since these new rules are set to impact the day-to-day lives of a common man and hence it is important to know more about these changes in detail.
Aug 30, 2021, 11:26 AM IST
GST new rule! Non-filers of GST returns to be barred from filing GSTR-1 from Sept 1
Businesses have to file GSTR-1 by the 11th day of the subsequent month while they can file GSTR-3B in a staggered manner between the 20th-24th day of the succeeding month.
Aug 28, 2021, 12:03 PM IST
Karnataka CM Bommai meets FM, urges extension of GST compensation for 3 more years
After a meeting with Union Finance Minister Nirmala Sitharaman, Bommai said he also discussed the GST (Goods and Services Tax) dues to the tune of Rs 11,000 crore to be paid to Karnataka in installments.
Aug 26, 2021, 18:54 PM IST
Ready-to-cook idli, dosa, porridge mix to attract 18% GST
Krishna Bhavan Foods and Sweets had approached the Tamil Nadu bench of the Authority for Advance Ruling (AAR) seeking ruling on the Goods and Services Tax (GST) rate applicable on 49 products, like bajra, jowar, ragi and multigrain porridge mix, sold under a brand name.
Aug 08, 2021, 22:15 PM IST
GST revenue jumps 33% year-on-year to over Rs 1.16 lakh crore in July
The sharp rise in the GST collects suggests that India’s economy is recovering at a fast pace.
Aug 01, 2021, 16:39 PM IST
Good news for jewellers! GST now payable only on profit earned from resale of gold jewellery
The ruling was made in reference to the application filed by Aadhya Gold Pvt Ltd seeking clarity whether goods and services tax (GST) is to be paid only on the difference between the selling price and purchase price.
Jul 18, 2021, 17:41 PM IST
GST collections remain below Rs 1 lakh crore for first time in June
This Rs 1 lakh crore drop in GST collection came after 8 months of continuously posting the collection above Rs 1 lakh crore mark.
Jul 06, 2021, 15:55 PM IST
GST report card: Over 66 crore returns filed in 4 years, tax rates reduced and more
In a series of tweets, the ministry said GST has simplified compliance for all taxpayers and the GST Council also recommended several trade beneficial clarifications in light of the COVID-19 pandemic.
Jun 30, 2021, 14:31 PM IST
GST council meet: Anurag Thakur dismisses Bengal minister Amit Mitra's claims that his voice was muzzled, says it was poor internet connection
Minister of State in the Finance Ministry, Anurag Thakur, has dismissed the remarks of West Bengal Finance Minister Amit Mitra, who claimed that he was not allowed to speak at the end of the meeting held on Saturday
Jun 13, 2021, 10:29 AM IST
5% GST on COVID vaccines to stay, no tax on black fungus drugs
The GST Council has now approved the recommendations of GoM on GST rates on COVID relief material. It further agreed to stick to a 5% GST rate on the COVID-19 vaccine. There will be no change in the GST rate for vaccines, said Finance Minister Nirmala Sitharaman.
Jun 12, 2021, 15:39 PM IST
Finance Minister to chair GST Council meet today, here’s what to expect
The 44th GST Council meeting will be attended by Minister of State for Finance Anurag Thakur, besides finance ministers of states and Union territories and senior officers from Union government and states, the Union finance ministry tweeted on Friday.
Jun 11, 2021, 17:12 PM IST
GST mop-up tops Rs 1.02 lakh crore in May, 65% higher compared to 2020
In addition, while the taxpayers with turnover above Rs 5 crore had to file their returns by June 4, which they would have otherwise filed by May 20, smaller taxpayers with turnover less than Rs 5 crore still have time till first week of July to file the returns without any late fee and interest, and the revenue from these taxpayers is deferred till then.
Jun 05, 2021, 18:38 PM IST
COVID-19: Group of Ministers set up to examine need for GST cut on essentials
GoM would examine whether a GST rate cut or exemption would be required for medical grade oxygen, pulse oximeters, hand sanitisers, oxygen therapy equipment like concentrators, ventilators, PPE kits, N-95 and surgical masks and temperature checking equipment.
May 30, 2021, 08:06 AM IST
Late fee relief to non-filers of GST returns to help small biz, add to revenue: Experts
The late fee for non-furnishing of GSTR-3B for July 2017 to April 2021 has been capped at Rs 500 per return for those taxpayers who did not have any tax liability.
May 29, 2021, 12:35 PM IST
GST Council leaves tax rate on COVID-19 vaccines unchanged
The GST Council, which is headed by the Union Finance Minister and comprises representatives of all states and union territories, exempted levy of I-GST on import of Amphotericin-B, which is used for the treatment of black fungus. Currently, vaccines attract 5 percent GST.
May 28, 2021, 21:16 PM IST
Remove GST on all life-saving medicines, equipment used to fight COVID: Priyanka Gandhi Vadra to Centre
Congress General Secretary Priyanka Gandhi Vadra said charging GST on COVID-19 drugs and equipment from people suffering due to the pandemic is “cruel and insensitive”.
May 28, 2021, 11:11 AM IST
First GST Council meet today in nearly 8 months, to discuss tax rate on COVID essentials, compensation to states
The 43rd meeting of the top decision-making body is likely to discuss a reduction in the tax rate on Covid medicines, vaccines and medical equipment as well as means to make up for the shortfall in revenues promised to states.
May 28, 2021, 10:03 AM IST
