Congress leader Rahul Gandhi on Sunday said the NDA's Goods and Services Tax (GST) is not a tax system but an "attack" on India's poor and on its small and medium businesses and urged all to stand against it.
The gross GST collection in August stood at Rs 86,449 crore, down from Rs 87,422 crore collected in July, the Finance Ministry said on Tuesday.
Congress leader Rahul Gandhi on Monday launched a scathing attack on the Prime Minister Narendra Modi-led BJP government and said the central government has attacked the country's unorganized economy in the last six years attempting to turn people into slaves.
Punjab Chief Minister Captain Amarinder Singh on August 26 said that the Central Government has not paid GST compensation and the finances of the states are completely down.
Congress interim President Sonia Gandhi on Wednesday said that Centre's refusal to clear Goods and Services Tax (GST) compensation to States is nothing short of betrayal on the part of the Prime Minister Narendra Modi government.
The Ministry of Finance on Monday said that businesses with an annual turnover of up to Rs 40 lakhs are exempt from GST and those with a turnover up to Rs 1.5 crore can opt for the Composition Scheme and pay only one per cent tax.
In a series of tweets, on the first death anniversary of former Finance Minister Arun Jaitley, the ministry said before goods and services tax (GST), the combination of value-added tax (VAT), excise, sales tax and their cascading effect resulted in high standard rate of tax up to 31 per cent.
Sources said the 41st meeting of the Goods and Services Tax (GST) Council would be a single agenda meeting on states' compensation to be held via video conferencing.
The Directorate General of Goods and Services Tax Intelligence (DGGI) has found alleged evasion of GST collectively worth over Rs 108 crore by two liquor manufacturers in Aurangabad and Nanded districts of Maharashtra
The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital. The GST investigation arm DGGI unearthed Rs 40 crore tax evasion by an unregistered pan masala/gutkha manufacturing unit in the national capital.
What is the difference between a roti and a Paratha? Apart from the taste, it is 18 per cent GST that can be imposed on Parotas (or Parathas) because these need to be heated before consumption.
The GST Council may consider at the next meet levying cess on commodities like pan masala and bricks at the manufacturing stage itself, a move aimed at checking tax evasion and shoring up revenues.
As a measure to clean up pendency in return filing, the GST Council has reduced/waived late fee for non-furnishing FORM GSTR-3B for the tax period from July, 2017 to January, 2020.
GST paid on invoices which have become bad debts must be paid back, Domestic Air Cargo Agents Association of India (DACAAI) said on Tuesday.At present, under the GST law agents have to up front pay 18 per cent GST on the invoices.
Reduction in GST rate and introduction of scrappage policy would help in reviving the commercial vehicle sector which has been facing headwinds for quite some time now
The GST Council is scheduled to meet on June 12 and likely to discuss the impact of the COVID-19 pandemic on tax revenues, sources said. The 40th meeting of the GST Council, headed by Finance Minister Nirmala Sitharaman and comprising state counterparts, will be held via video conferencing.
The Centre had released Rs 69,275 crore in 2018-19 and Rs 41,146 crore in 2017-18 as compensation for GST which was rolled out on July 1, 2017.
The GST Council in its next meeting will discuss waiver of late fee for non-filing of GST returns for August 2017 to January 2020 period. In a tweet, the Central Board of Indirect Taxes and Customs (CBIC) said, "Issue of GST late fee for the past period (August 2017 to January 2020) to be discussed in the next GST Council meeting."
The Income Tax Department on Monday deferred for the third time the requirement for companies to include in their I-T audit report the details of the Goods and Services Tax (GST) and GAAR.
CPI(M) General Secretary Sitaram Yechury, in New Delhi on Monday, criticised the Centre for not releasing over Rs 30,000 crore in the goods and services tax (GST) dues.
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