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.
The Centre has released Rs 1,237 crore to Punjab as GST compensation arrears for July 2017-March 2019. Punjab Finance Minister Manpreet Singh Badal in a letter to Finance Minister Nirmala Sitharaman said the funds came at a "crucial time" when the entire country is facing the Covid-19 crisis.
Besides, all pending GST and custom refunds will also be released benefiting close to 1 lakh businesses, the note stated. The total refund amount will be to the tune of Rs 18,000 crore, finance ministry said.
GST Network on Sunday said tax officers have processed over 10,000 new registrations and about 8,000 refund applications in the first 10 days of lockdown till April 3, working through Virtual Private Network (VPN).
Increasing GST on mobile phones to 18 per cent from 12 per cent at the time of economic slowdown coupled with coronavirus outbreak will derail the industry and lead to job losses, industry body ICEA said on Sunday.
Goods and Services Tax (GST) hiked from 12 percent to 18 percent on mobile phones. Here's what you need to know
The Goods and Services Tax (GST) on mobile phones has been increased from 12 per cent to 18 percent. This change in tax slab will have a direct impact on the pricing of the mobile phones in India.
GST rates on mobile phones, fertilisers, man-made fabrics and garments are likely to be hiked to 18 per cent in the next GST Council meeting on March 14.
The GST Council is likely to rationalise tax rates on five sectors, including mobile phones, footwear and textiles, and defer implementation of the new return filing system and e-invoicing in its meeting on March 14.
Karnataka is facing unprecedented economic difficulties following a Rs 8,887 crore reduction in the state's share in central taxes, cut in allocation under 15th finance commission and a Rs 3,000 crore hit in GST compensation, Chief Minister B S Yediyurappa indicated on Thursday.
The government has collected Rs 1.05 lakh crore as GST revenue in February, up 8 per cent over the same month last year.
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