Out of the total revenue collected CGST was Rs 22,197 cr, SGST was Rs 28,541 cr, IGST was Rs 57,864 cr- including Rs 27,900 cr collected on import of goods- and Cess was Rs 7,790 cr- including Rs 815 cr collected on import of goods.
E-invoice is an electronic authentication technique under the GST framework.
The Karnataka bench of the AAR observed that GST is payable only on the margin between the sale price and the purchase price
The firms involved in this network are M/s Girdhar Enterprises, M/s Arun Sales, M/s Akshay Traders, M/s Shree Padmavati Enterprises and 19 others.
The members of the Federation of Karnataka Chambers of Commerce and Industry (FKCCI) appealed to Nirmala Sitharaman to bring petrol and diesel under the GST regime.
The Finance Ministry has notified the concessional rate of GST that will be applicable on COVID relief materials till September 30, 2021.
The Delhi government on Saturday suggested to the Centre to remove the GST on face masks, sanitisers, oximeters and thermometers, saying these items have become a part of regular expenditure of the people during COVID-19 pandemic.
The GST Council on Saturday slashed the tax rate on coronavirus medicines such as Remdesivir and equipment like oxygen concentrators and medical grade oxygen.
The 44th meeting of the GST Council, the second this year in the midst of the second wave of Covid pandemic, began on Saturday morning through video conferencing.
The due date for furnishing details of outward supplies in Form GSTR-1 for the month of May 2021 is extended by 15 days. The extended due date is June 26, CBIC said.
Finance Minister of Delhi Manish Sisodia said that he proposed tax free vaccine in GST Council meet chaired by Union Finance Minister Nirmala Sitharaman.
The GST Council on Friday left taxes on COVID-19 vaccines and medical supplies unchanged but exempted duty on import of a medicine used for treatment of black fungus.
The Central Board of Indirect Taxes and Customs (CBIC) has launched a special drive to clear all pending GST refunds by month-end.
The government on Saturday slashed Integrated GST rate on oxygen concentrators for personal use to 12 per cent, from 28 per cent earlier, for two months till June 30.
GST collections in April touched a record high of over Rs 1.41 lakh crore, indicating sustained economic recovery, the Finance Ministry said on Saturday.
Digitisation has become an inevitable necessity for MSMEs to fulfil the GST compliance requirements.
Currently, businesses are required to digitally sign the GSTR-3B form while filing the monthly return and paying taxes. However, with offices shut due to the lockdown, businesses are unable to generate a digital signature that has led to delay in filing returns.
Modifying the AAR verdict, the AAAR has clarified that GST will be levied not on the supply of vouchers but on the underlying supply of goods/ services at the time of redemption and the time for payment of GST will be dependent on the provisions detailed in the GST law.
Revenue and Department of Economic Affairs Secretary Tarun Bajaj on bringing petroleum products under GST said that this move involves interest of both state and centre.
GST revenues during March 2021 are the highest since introduction of GST. In line with the trend of recovery in the GST revenues over past five months.
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