GST Not Payable On Out-Of-Court Settlement: AAR
1 year, 5 months ago

GST Not Payable On Out-Of-Court Settlement: AAR

Live Law  

The Telangana Authority of Advance Ruling has ruled that GST is not payable on the out-of-court settlement.The bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that there is no GST on the interest of 13% per annum awarded by the Tribunal for Arbitration Award as the principal supply itself is not taxable.The applicant is taking up Thermal Projects in various cities in. Kasi Visweswara Rao and Sahil Inamdar has observed that there is no GST on the interest of 13% per annum awarded by the Tribunal for Arbitration Award as the principal supply itself is not taxable. The applicant sought an advance ruling on the issue of whether the liquidated damages, without any supply of materials or labour, should be assessed for GST under the GST Act, 2017. Section 15 of the CGST/TGST Act, 2017 states that the value of supply shall include ‘interest, late fee, or penalty for delayed payment of any consideration for any supply.’ No supply has happened during the GST regime; as per Section 142, no GST shall be payable.

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History of this topic

Allahabad High Court Directs State GST Dept To Not Initiate Action For Assessment Years In Which Central GST Had Already Acted
Trending News
3 weeks, 1 day ago

Allahabad High Court Directs State GST Dept To Not Initiate Action For Assessment Years In Which Central GST Had Already Acted

Live Law  

The Allahabad High Court has directed the State Goods and Service Tax Authorities to not take action for any assessment year in which the Central Goods and Service Tax Authorities have already taken action. Petitioner approached the High Court under Article 226 of the Constitution of India against the actions taken by the State and Central GST Authorities for the …

CAG Report Flags Major GST Discrepancies, Tax Evasion in Telangana
4 months, 3 weeks ago

CAG Report Flags Major GST Discrepancies, Tax Evasion in Telangana

Deccan Chronicle  

Hyderabad: The Controller and Auditor General report tabled in the Assembly on Friday cited discrepancies and tax evasion of Rs 986.78 crore in GST payments, pointing to possible tax evasion. The report in a way gave credence to the recent allegations on tax evasion raised against former chief secretary Somesh Kumar. The CAG asked the department to consider introducing additional …

GST relief may hit state finances
5 months ago

GST relief may hit state finances

Deccan Chronicle  

Hyderabad: The GST Council’s decision to provide relief to taxpayers in Telangana could have serious consequences for state finances. The most hard-hitting decision taken at the 53rd meeting of the Council was the relief extended to taxpayers for the financial years 2017-18 to 2019-20 waving interest and penalty on tax demands under Section 73. This step will benefit tax payers …

Telangana’s GST Revenue Sees 18% Growth in 2024
8 months, 4 weeks ago

Telangana’s GST Revenue Sees 18% Growth in 2024

Deccan Chronicle  

Hyderabad: Collections in the commercial tax department have increased in the state owing to a slew of steps taken by the department. In this milieu, among the bigger states Telangana’s GST revenue grew from Rs.4,424 crore in 2023 to Rs.5,211 crore in 2024. The 18 per cent increase is the second best among southern states after Karnataka’s 19 per cent. …

Telangana High Court; GST Exemption Doesn't Cover Affiliation Fee And Inspection Fee Paid By Colleges To University
1 year, 1 month ago

Telangana High Court; GST Exemption Doesn't Cover Affiliation Fee And Inspection Fee Paid By Colleges To University

Live Law  

The Telangana High Court has held that GST exemption as granted under Notification No.12 of 2017 of the GST Act, 2017 to the institutions providing education services does not cover Affiliation fee and Inspection fee paid by the College to the University. "we are of the firm view that firstly, the Notification No.12 of 2017, dated 28.06.2017, cannot be made …

State Amendments Made To VAT Acts After GST Came Into Effect Are Invalid : Supreme Court
1 year, 1 month ago

State Amendments Made To VAT Acts After GST Came Into Effect Are Invalid : Supreme Court

Live Law  

A Division Bench of the Supreme Court, while deciding the appeals arising from judgments of Telangana, Gujarat and Bombay High Court with respect to the validity of VAT Amendment Act in their respective states, made several significant findings regarding Section 19 of the Constitution Act, 2016, which allowed the introduction of the Goods and Services Tax. The Court also noted: …

GST | Circular Does Not Override Statutory Provisions: Allahabad High Court Quashes Demand Of Rs. 235 Crores Against Vivo Mobile
1 year, 2 months ago

GST | Circular Does Not Override Statutory Provisions: Allahabad High Court Quashes Demand Of Rs. 235 Crores Against Vivo Mobile

Live Law  

The Allahabad High Court has quashed demand of Rs. If the law were to be read otherwise, i.e., that the ITC claim may never arise unless the tax is first paid then, the second proviso to section 16 itself would be rendered otiose.” Further, placing reliance on Union of India v. Bharti Airtel Ltd. and Others, wherein the Supreme Court …

Difficulties Faced On Initial Phase Of GST Implementation, Kerala High Court Sets Aside Disallowance Of ITC
1 year, 2 months ago

Difficulties Faced On Initial Phase Of GST Implementation, Kerala High Court Sets Aside Disallowance Of ITC

Live Law  

The Kerala High Court recently addressed the difficulties faced by small scale dealers during the initial phases of GST implementation in understanding the provisions of GST Act. Justice Dinesh Kumar Singh set aside the orders of the assessing authority disallowing the input tax credit claims of the petitioners and observed thus, “The period involved is 2017-18 when the GST regime …

Gujarat High Court Orders Refund Of IGST With Interest In An Inadvertent Tax Payment Case
1 year, 4 months ago

Gujarat High Court Orders Refund Of IGST With Interest In An Inadvertent Tax Payment Case

Live Law  

The Gujarat High Court has directed the refund of the Integrated Goods and Service Tax amount, along with applicable interest, to a petitioner who inadvertently paid IGST at a higher rate than the concessional rate applicable.The petitioner, Tagros Chemicals India Pvt. The Gujarat High Court has directed the refund of the Integrated Goods and Service Tax amount, along with applicable …

18% GST Payable On Service of Charging Of Battery Of Electrical Vehicle: AAR
1 year, 5 months ago

18% GST Payable On Service of Charging Of Battery Of Electrical Vehicle: AAR

Live Law  

The Karnataka Authority of Advance Ruling has ruled that 18% GST is applicable on the service of charging the battery of an electrical vehicle.The bench of M.P. The Karnataka Authority of Advance Ruling has ruled that 18% GST is applicable on the service of charging the battery of an electrical vehicle. The applicant sought an advance ruling on the issue …

Output Tax Was Paid Using ITC, Railway Can’t Deny GST Reimbursement On Price Variation: Gauhati High Court
1 year, 5 months ago

Output Tax Was Paid Using ITC, Railway Can’t Deny GST Reimbursement On Price Variation: Gauhati High Court

Live Law  

The Gauhati High Court had held that railways cannot deny GST reimbursement on account of price variation merely on the grounds that the output tax was paid through an electronic credit ledger using the Input Tax Credit.The bench of Justice Devashis Baruah has observed that the petitioner would be entitled to his PVC claim in terms of the contract, and …

28% GST Payable On Supply PVC Floor Mats For Cars: AAR
1 year, 9 months ago

28% GST Payable On Supply PVC Floor Mats For Cars: AAR

Live Law  

The Gujarat Authority for Advance Ruling has ruled that 28% GST is payable on the supply of PVC floor mats for cars.The two-member bench of Amit Kumar Mishra and Milind Kavatkar has observed that the floor mats used for four-wheel motor vehicles supplied by the applicant are principally for use in motor vehicles.The applicant is in the business of manufacturing …

5% GST Payable On RCM Basis On Purchase Of Tobacco Leaves/Bhukko From The Agriculturist: Gujarat AAR
1 year, 9 months ago

5% GST Payable On RCM Basis On Purchase Of Tobacco Leaves/Bhukko From The Agriculturist: Gujarat AAR

Live Law  

The Gujarat Authority for Advance Ruling has ruled that 5% GST on reverse charge mechanisms shall be applicable on the purchase of tobacco leaves/bhukko from the agriculturist.The two-member bench of Amit Kumar Mishra and Milind Kavatkar has observed that, in terms of Notification No. The Gujarat Authority for Advance Ruling has ruled that 5% GST on reverse charge mechanisms shall …

Centre will clear GST dues of states, TS to get Rs.1835 cr in arrears
1 year, 10 months ago

Centre will clear GST dues of states, TS to get Rs.1835 cr in arrears

Deccan Chronicle  

New Delhi: The GST Council on Saturday said the Centre had decided to clear the pending balance of GST compensation of Rs.16,982 crore for June 2022. The Centre will also clear the admissible final GST Compensation to those states who have provided revenue figures certified by the Accountant General which amounts to `16,524 crore. Briefing media after the 49th meeting …

Centre to pay Rs 689 crore GST dues to AP
1 year, 10 months ago

Centre to pay Rs 689 crore GST dues to AP

Deccan Chronicle  

Vijayawada: Andhra Pradesh finance minister Buggana Rajendranath said the central government has decided to pay GST arrears that were pending to the state till June. He said the Council has agreed to revise the penalties levied for late filing of returns by companies with a business volume of Rs 20 crore as suggested by the state. Rajendranath has attended the …

Harish Rao skips GST Council meeting, Centre clears pending GST compensation for TS
1 year, 10 months ago

Harish Rao skips GST Council meeting, Centre clears pending GST compensation for TS

Deccan Chronicle  

HYDERABAD: The GST Council on Saturday said the Centre had decided to clear the pending balance of GST compensation of Rs 16,982 crore for June 2022. The Centre will also clear the admissible final GST Compensation to those states who have provided revenue figures certified by the Accountant General which amounts to Rs 16,524 crore. In addition, the GST Council …

GST Not Payable On Reimbursement Of Tree Cut Compensation Paid To Farmers By Pure Agent: Karnataka AAR
1 year, 11 months ago

GST Not Payable On Reimbursement Of Tree Cut Compensation Paid To Farmers By Pure Agent: Karnataka AAR

Live Law  

The Karnataka Authority for Advance Ruling has ruled that a pure agent is not liable to pay GST on reimbursement of compensation amounts paid to farmers and landowners.The two-judge bench of M.P. Ravi Prasad and Kiran Reddy T. has ruled that reimbursement of land compensation amounts paid to farmers and landowners during the course of work is subject to GST …

100 Important High Court Judgments of GST in 2022
1 year, 11 months ago

100 Important High Court Judgments of GST in 2022

Live Law  

Allahabad High Court: Allahabad High Court Stays GST Demand On Payment Of Royalty To Conduct Mining Activity Case Title: M/s Jitendra Singh versus Union of India The Allahabad High Court bench of Justice Saumitra Dayal Singh has stayed the GST demand on payment of royalty to conduct mining activity. Show Cause Notice Cancelling GST Registration Must Disclose Reason: Allahabad High …

GST Concessional Rate Is Not Applicable On Maintenance And Repair Services Of Test-Bench Equipment For Aeronautics: AAR
2 years ago

GST Concessional Rate Is Not Applicable On Maintenance And Repair Services Of Test-Bench Equipment For Aeronautics: AAR

Live Law  

The Karnataka Authority of Advance Ruling has held that a concessional rate under GST is not applicable to maintenance and repair services of test-bench equipment for aeronautics.The two-member bench of M.P. Ravi Prasad and Kiran Reddy T. have observed that the concessional rate of GST of 5% is applicable to only Maintenance, repair or overhaul services in respect of aircraft,. …

Tax Cases Monthly Round-Up: November, 2022
2 years ago

Tax Cases Monthly Round-Up: November, 2022

Live Law  

Indirect Taxes Supreme Court Case Title: OCL India Limited vs State of Orissa Citation: 2022 LiveLaw 911 The Supreme Court upheld States' power to impose entry tax from Industrial Township/Areas. Bombay High Court Case Title: Asit C. Mehta Financial Services Limited versus The Customs Excise and Service Tax Appellate Tribunal The Bombay High Court has ruled that the time limit …

18% GST Payable On Manufacturing Of Alcohol For Human Consumption By Way Of Job Work: Andhra Pradesh High Court
2 years, 1 month ago

18% GST Payable On Manufacturing Of Alcohol For Human Consumption By Way Of Job Work: Andhra Pradesh High Court

Live Law  

The Andhra Pradesh High Court has held that 18% GST is payable on the manufacturing of alcohol for human consumption by way of job work.The division bench of Justice C. Praveen Kumar and Justice A.V. The Andhra Pradesh High Court has held that 18% GST is payable on the manufacturing of alcohol for human consumption by way of job work. …

Tax Paid On Purchases To Meet The CSR Obligations Is Eligible For ITC: Telangana AAR
2 years, 1 month ago

Tax Paid On Purchases To Meet The CSR Obligations Is Eligible For ITC: Telangana AAR

Live Law  

The Telangana Authority of Advance Ruling has ruled that the tax paid on purchases made to meet the obligations under corporate social responsibility will be eligible for input tax credit under the CGST and SGST Acts.The two-member bench of S.V. Kasi Visweswara Rao and Sahil Inamdar has observed that the expenditure made towards corporate responsibility under Section 135 of. The …

Supply Of Ayurvedic Products Under AYUSH Department Licences Attracts 12% GST: AAR
2 years, 3 months ago

Supply Of Ayurvedic Products Under AYUSH Department Licences Attracts 12% GST: AAR

Live Law  

The Telangana Authority of Advance Ruling has ruled that 12% GST is payable on the supply of ayurvedic products under AYUSH department licences.The two-member bench of B. Raghu Kiran and S.V. Kasi Visweswara Rao has observed that the products which are used for care are treated as "cosmetics" and therefore taxed at 18% GST. The Telangana Authority of Advance Ruling …

Works Contract Services Executed To State Government For Construction Of Airport Terminal Building Attracts 18% GST: AAR
2 years, 3 months ago

Works Contract Services Executed To State Government For Construction Of Airport Terminal Building Attracts 18% GST: AAR

Live Law  

The Karnataka Authority of Advance Ruling has ruled that 18% GST is payable on the work contract services executed for the state government for the construction of the airport terminal building and greenfield airport.The two-member bench of M.P. The Karnataka Authority of Advance Ruling has ruled that 18% GST is payable on the work contract services executed for the state …

Manpower and Labour Supply Services Attract 18% GST: AAR
2 years, 4 months ago

Manpower and Labour Supply Services Attract 18% GST: AAR

Live Law  

The Telangana Authority of Advance Ruling has ruled that the manpower supply or labour supply services by the manpower supply agency fall under SAC 98519 and are taxable at the rate of 18%. The applicant sought an advance ruling on the issue of whether notification 4/2019 can be followed and GST be paid on an RCM basis for the share …

Karnataka High Court Quashes CBIC Circular Imposing GST On Annuity Payments Awarded By Highway Authorities To concessionaires
2 years, 5 months ago

Karnataka High Court Quashes CBIC Circular Imposing GST On Annuity Payments Awarded By Highway Authorities To concessionaires

Live Law  

The Karnataka High Court has quashed the circular issued by the Central Board of Indirect and Customs clarifying that GST is not exempt on the annuity paid for the construction of roads and allowed the Writ Petition filed by the petitioner. As a consideration for the construction and maintenance of the roads for the contract period, the petitioners are paid …

GST Not Payable On RCM Basis On Commission Paid To The Overseas Commission Agent: AAR
2 years, 5 months ago

GST Not Payable On RCM Basis On Commission Paid To The Overseas Commission Agent: AAR

Live Law  

The Uttarakhand Authority of Advance Ruling consisting of Anurag Mishra and Rameshvar Meena has ruled that GST is not payable on the basis of the Reverse Charge Mechanism on the commission paid to the Overseas Commission Agent. The applicant has sought an advance ruling on the issue of whether an Overseas Commission Agent is covered within the definition of the …

Service Recipient Liable To Pay GST On Interest Amount Under Arbitral Award For Delayed Payment: Bombay High Court
2 years, 6 months ago

Service Recipient Liable To Pay GST On Interest Amount Under Arbitral Award For Delayed Payment: Bombay High Court

Live Law  

The Bombay High Court has held that the service recipient is liable to pay the GST to the government on interest under an arbitrary award and it can not be deducted from the dues payable to the service provider. The MCGM withheld an amount allegedly towards payment of the GST, which, according to the MCGM, was the liability of the …

No GST Payable On Reimbursement Of Stipend Paid To Trainees: AAR
2 years, 6 months ago

No GST Payable On Reimbursement Of Stipend Paid To Trainees: AAR

Live Law  

The Maharashtra Authority of Advance ruling has ruled that GST is not payable on the reimbursement of stipend paid to trainees by industry partners. The applicant has sought the advanced ruling on the issue whether the Applicant, in the capacity of being a NEEM facilitator, acts as a 'Pure Agent' while receiving reimbursement of stipend amounts from the various Trainer …

GST Payable On Receipt Of Gratuitous Payment From Outgoing Member: AAR
2 years, 6 months ago

GST Payable On Receipt Of Gratuitous Payment From Outgoing Member: AAR

Live Law  

The Maharashtra Authority of Advance Ruling consisting of T.R. The applicant is a co-operative housing society registered under the Maharashtra Co-operative Housing Society Act having 48 flats which charges its members maintenance charges as per flat towards maintenance and upkeep of its premises. The applicant has sought an advance ruling on the issue of whether the receipt of a gratuitous …

Sale Of Car By Company After Using It For Business Purpose Attracts 18% GST: AAR
2 years, 6 months ago

Sale Of Car By Company After Using It For Business Purpose Attracts 18% GST: AAR

Live Law  

The Gujarat Authority of Advance Ruling consisting of Arun Richard and Atul Mehta has ruled that 18% GST is payable on the sale of a car by a company after using it for business purposes. The applicant sought an advance ruling in respect of the rate of GST applicable on the new car purchased by the company that is sold …

Allahabad High Court Stays GST Demand On Payment Of Royalty To Conduct Mining Activity
2 years, 7 months ago

Allahabad High Court Stays GST Demand On Payment Of Royalty To Conduct Mining Activity

Live Law  

The Allahabad High Court bench of Justice Saumitra Dayal Singh has stayed the GST demand on payment of royalty to conduct mining activity. The petitioner contended that no GST liability could arise from the payment of a royalty to conduct mining activity. The court held that the matter requires consideration both on the issue of liability to pay GST and …

No Excuse For Not Paying GST In Time From Its Electronic Cash Register: Madras High Court Upholds Interest Demand
2 years, 7 months ago

No Excuse For Not Paying GST In Time From Its Electronic Cash Register: Madras High Court Upholds Interest Demand

Live Law  

The Madras High Court bench of Justice C. Saravanan held that the taxpayer is liable to pay interest if there is a belated payment of tax declared in the returns filed. The question was whether the recovery under the proposed notice pursuant to an earlier order of the Court would fall under the purview of Section 50 of the CGST …

Levy Of GST On Mining Royalty And Allied Charges: Jharkhand High Court Grants Interim Protection
2 years, 7 months ago

Levy Of GST On Mining Royalty And Allied Charges: Jharkhand High Court Grants Interim Protection

Live Law  

The Jharkhand High Court bench of Justice Aparesh Kumar Singh and Justice Deepak Roshan has granted interim protection on the levy of GST on mining royalty and allied charges. More than 10 writ petitions were filed challenging the show cause notices issued by the department directing them to furnish data relating to the payment of royalty against licencing services for …

Plea Challenges Demand Of GST On Royalty Paid For Quarrying Of Building Stone: Karnataka High Court Grants Interim Relief
2 years, 7 months ago

Plea Challenges Demand Of GST On Royalty Paid For Quarrying Of Building Stone: Karnataka High Court Grants Interim Relief

Live Law  

The Karnataka High Court has till the next date of hearing restrained respondents from demanding and collecting GST on Royalty from the petitioner, a firm engaged in quarrying of building stone. Advocate Kartik Seth appearing for the petitioner B&B Stones had approached the court challenging the imposition of GST on mining royalty on reverse charge basis. A division bench of …

Rajasthan High Court Restrains GST Dept. From Recovery Of GST On Royalty Paid On Account Of Excavation Of Sand For Brick
2 years, 8 months ago

Rajasthan High Court Restrains GST Dept. From Recovery Of GST On Royalty Paid On Account Of Excavation Of Sand For Brick

Live Law  

The Rajasthan High Court bench of Justice Madan Gopal Vyas and Justice Vijay Bishnoi has restrained the GST department from recovering GST on royalty paid on account of the excavation of sand for brick. The petitioner/assessee has filed the writ petition challenging the demand GST on the royalty paid on account of excavation of sand for brick. The petitioner submitted …

Madras High Court Directs GST Dept. To Release Detained Vehicle On Payment Of 25% Of Penalty
2 years, 8 months ago

Madras High Court Directs GST Dept. To Release Detained Vehicle On Payment Of 25% Of Penalty

Live Law  

The Madras High Court bench of Justice R. Suresh Kumar has directed the GST department to release the detained vehicle on the payment of 25% of the penalty. The department issued a notice directing the petitioner to pay the penalty within three days, failing which action would be taken under Section 130 of the Centre/State Goods and Services Tax Act. …

GST Payable On Value Of Supply Which Includes Interest For Delayed Payment: AAR
2 years, 8 months ago

GST Payable On Value Of Supply Which Includes Interest For Delayed Payment: AAR

Live Law  

The Telangana Authority of Advance Ruling bench of members S.V. Kasi Visweswara Rao and B. Raghu Kiranhas ruled that the Goods and Service Tax is payable on the value of supply, which includes interest, late fee, or penalty for delayed payment. The applicant, M/s.Hyderabad Metropolitan Water Supply and Sewerage Board, is a local authority which has been making payments to …

Payment Of Equated Yearly Instalments And Interest On Delayed Payment Is Exigible To GST: Telangana AAR
2 years, 8 months ago

Payment Of Equated Yearly Instalments And Interest On Delayed Payment Is Exigible To GST: Telangana AAR

Live Law  

The Telangana Bench of Authority for Advance Ruling, consisting of members B. Raghu Kiran and S.V. Kasi Visweswara Rao, has ruled that payment of Equated Yearly Instalments made under Annuities Model, including interest on delayed payments made to a contractor, is exigible to GST. Hyderabad Metropolitan Water Supply and Sewerage Board filed an application before the Telangana Authority for Advance …

Karnataka High Court Orders GST Refund of Rs. 27 Crores Illegally Collected from Swiggy
2 years, 9 months ago

Karnataka High Court Orders GST Refund of Rs. 27 Crores Illegally Collected from Swiggy

Live Law  

The Karnataka High Court has ordered the Goods and Service Tax department to refund Rs. The company entered into an agreement with a third party service provider, namely Green Finch Team Management Ltd.. Green Finch raised valid tax invoices on the company and charged applicable GST, which was paid to Green Finch, which was deposited with the Department by filing …

GST Only On Amount Exceeding 75,000 Collected By RWAs: Madras High Court:
3 years, 5 months ago

GST Only On Amount Exceeding 75,000 Collected By RWAs: Madras High Court:

Live Law  

Overturning a 2019 circular issued by the Ministry of Finance, Department of Revenue, the Madras High Court has held that the Goods and Services Tax applies not on the full amount but to monthly maintenance amount exceeding ₹7,500 only. Entry 77 of the order grants exemption to contributions made to RWA upto an amount of Rs.7,500/- per month per member …

Karnataka High Court Strikes Down GST Rules Imposing Liability On Entire Bet Amount Received By Horse Race Clubs
3 years, 6 months ago

Karnataka High Court Strikes Down GST Rules Imposing Liability On Entire Bet Amount Received By Horse Race Clubs

Live Law  

The Karnataka High Court has declared Rule 31A of the Central Goods and Services Tax Rules, 2017 as amended in terms of notification dated 23.01.2018 as ultra vires the provisions of the Central Goods and Services Tax Act, 2017 Act and Rule 31A of the Karnataka Goods and Services Tax Rules, 2017, as ultra vires the provisions of the Karnataka …

Telangana opts for borrowing to meet GST revenue gap
4 years, 1 month ago

Telangana opts for borrowing to meet GST revenue gap

Live Mint  

New Delhi: Telangana government has opted for meeting its Goods and Services Tax revenue gap by signing up for a borrowing scheme facilitated by the Central government, joining 22 other states and three union territories, said a finance ministry statement. The state government told the Centre of its acceptance of the scheme that allows the Narendra Modi administration to borrow …

The GST's uncertain future
4 years, 2 months ago

The GST's uncertain future

India Today  

The true test of leadership comes in times of adversity—the ability to develop consensus when the going gets tough. On November 27, 2019 the GST council wrote to state governments, informing them that GST and compensation cess collections in the previous few months had become ‘a matter of concern’ and that compensation requirements were ‘unlikely to be met’. The GST …

'Regardless of Acts of Gods, Humans': 7 Non-BJP States, 1 UT Reject Centre's GST Compensation Options
4 years, 3 months ago

'Regardless of Acts of Gods, Humans': 7 Non-BJP States, 1 UT Reject Centre's GST Compensation Options

News 18  

As many as seven non-BJP ruled states, including Kerala and Punjab, besides Union Territory Puducherry on Monday rejected the Centre’s suggestion of states borrowing to make up for the GST shortfall, saying the constitutional liability lies with the Union government. Punjab Finance Minister Manpreet Singh Badal said if states have to borrow, then the Centre will have to amend compensation …

Telangana Says States Lost 60-70 Percent Tax Revenue in GST Regime, Demands Compensation
4 years, 3 months ago

Telangana Says States Lost 60-70 Percent Tax Revenue in GST Regime, Demands Compensation

News 18  

States have lost 60-70 per cent of their tax revenues after joining the GST regime while the Centre’s loss was pegged at 31 per cent only, Telangana Finance Minister Harish Rao who participated in the GST Council meeting said on Thursday. According to an official release, Telangana demanded that the Group of Ministers headed by the Bihar Deputy Chief Minister …

Government to forego Rs 46,000 crore of interest on delayed GST payment
4 years, 3 months ago

Government to forego Rs 46,000 crore of interest on delayed GST payment

Deccan Chronicle  

Chennai: The Union government has decided to forego Rs 46,000 crore of unpaid interest on delayed GST payments after notifying that interest would be charged on net tax liability and not gross liability with effect from September 1. Industry had earlier raised concern over CBIC's decision to recover about Rs 46,000 crore of unpaid interest on delayed GST payment. It …

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