GST Will Create A Common Indian Market, Improve Tax Compliance: Economic Survey
8 years, 1 month ago

GST Will Create A Common Indian Market, Improve Tax Compliance: Economic Survey

Live Law  

As per the Economic Survey 2016-17 presented in Parliament on Tuesday, the Constitutional Amendment, paving the way for implementing the transformational Goods and Services Tax, will create a common Indian market, improve tax compliance and governance, and boost investment and growth.The Report also states that demonetisation has had short-term costs but holds the potential for. As per the Economic Survey 2016-17 presented in Parliament on Tuesday, the Constitutional Amendment, paving the way for implementing the transformational Goods and Services Tax, will create a common Indian market, improve tax compliance and governance, and boost investment and growth. Follow-up actions to minimize the costs and maximize the benefits include: fast, demand-driven, remonetisation; further tax reforms, including bringing land and real estate into the GST, reducing tax rates and stamp duties; and acting to allay anxieties about over-zealous tax administration. In addition to the GST, the Government: Overhauled the bankruptcy laws so that the “exit” problem that pervades the Indian economy--with deleterious consequences highlighted in last year’s Survey--can be addressed effectively and expeditiously; Codified the institutional arrangements on monetary policy with the Reserve Bank of India, to consolidate the gains from macroeconomic stability by ensuring that inflation control will be less susceptible to the whims of individuals and the caprice of governments; and Solidified the legal basis for Aadhaar, to realise the long-term gains from the JAM trifecta.

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History of this topic

Opposition leaders press for simplification, reduction of GST
3 days, 15 hours ago

Opposition leaders press for simplification, reduction of GST

Live Mint  

New Delhi, Mar 24 Opposition members on Monday demanded the government to simplify and reduce the Goods and Services Tax as it is putting the burden on the poor. Participating in the debate on the Finance Bill 2025, Supriya Sule said GST needs lots of reform, and there is a need to bring down rates. The Finance Minister should answer …

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January
2 weeks, 4 days ago

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January

India TV News  

Central GST officers detect tax evasion of Rs 1.95 lakh crore during April-January During the Budget Session Lok Sabha proceedings, Minister of State for Finance Pankaj Chaudhary told the House that in this fiscal year till January, 25,397 cases of GST evasion have been detected. In a shocking development, the officers of the Central GST have detected tax evasion of …

GST rate cut soon, tax review in final stages, says FM Nirmala Sitharaman
2 weeks, 5 days ago

GST rate cut soon, tax review in final stages, says FM Nirmala Sitharaman

Live Mint  

Goods and Services Tax Council is in the final stages of reviewing GST structure and a reduction of the levy would happen soon, union finance minister Nirmala Sitharaman, who chairs the Federal indirect tax body said on Saturday. Speaking at the Economics Times Awards for Corporate Excellence in Mumbai, Sitharaman said that the ministerial group set up by the GST …

After a tax cut and a rate cut, it's time now for a GST cut
1 month, 2 weeks ago

After a tax cut and a rate cut, it's time now for a GST cut

Live Mint  

After the Union government reduced the tax burden on individuals and the central bank followed with an interest rate cut, it's over to the states now. Its original goal was to reduce disputes related to the classification of goods and services, correct tax anomalies like finished products getting taxed at a lower rate than raw materials, and to enhance GST …

The post-Budget agenda: How to make GST 'Good and Simple Tax'
1 month, 2 weeks ago

The post-Budget agenda: How to make GST 'Good and Simple Tax'

India Today  

Good intention undone by poor implementation. At the SKOCH Summit in New Delhi in November 2024, M. Govinda Rao, economist and former member of the 14th Finance Commission, had said, “Globally, GST is considered a money machine. While political constraints may prevent a single rate, reducing the number of rates would bring clarity and efficiency.” At present, the GST structure …

Is a cut in GST rates next? GST Council to soon take a decision, says FM Sitharaman
Trending News
1 month, 3 weeks ago

Is a cut in GST rates next? GST Council to soon take a decision, says FM Sitharaman

Firstpost  

The Goods and Services Tax follows a four-tier structure with rates of 5%, 12%, 18%, and 28%. The GST Council will soon take a decision on having fewer and lower rates as the review work is almost complete, Finance Minister Nirmala Sitharaman said on Tuesday. Days after presenting the Union Budget 2025-26 that also provides significant income tax relief to …

GST Council to decide on fewer, lower tax rates soon: Nirmala Sitharaman
1 month, 3 weeks ago

GST Council to decide on fewer, lower tax rates soon: Nirmala Sitharaman

India Today  

Finance Minister Nirmala Sitharaman announced on Tuesday that the GST Council is nearing a decision on rationalising tax rates, as the review process is almost complete. Addressing speculation, Sitharaman dismissed claims that the tax relief was politically motivated ahead of the Delhi Assembly elections, asserting that it reflects Prime Minister Narendra Modi's commitment to taxpayers. The Budget has allocated Rs …

2017 Budget | Breaking conventions; reflecting on GST, demonetisation
1 month, 3 weeks ago

2017 Budget | Breaking conventions; reflecting on GST, demonetisation

The Hindu  

In 2017, Finance Minister Arun Jaitley’s fourth Budget was positioned in the middle of two major financial overhaul actions of the Modi government. The colonial-era convention was discontinued, and Mr. Jaitley argued that it was done to bring Railways to the “centre stage of the government’s fiscal policy”. Mr. Jaitley said, “This would enable the Ministries and Departments to operationalise …

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’
2 months, 2 weeks ago

Kharge demands end to ‘tax terrorism’ in the Budget, calls GST ‘Give Sitharaman Tax’

The Hindu  

Ahead of the Union Budget, the Congress on Thursday alleged that the goods and services tax had become a means to “loot” people and demanded that the Centre puts an end to “tax terrorism”. In a post on X, Congress president Mallikarjun Kharge said that the GST could stand for the “Gabbar Singh Tax” or “Grahasthi Satyanash Tax ” or …

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout
2 months, 2 weeks ago

Gabbar Sitharaman Tax: Congress’ fresh jab at FM, says new circulars are issued 90 months after GST rollout

Live Mint  

Congress leader Pawan Khera on Thursday took a swipe at Union Finance Minister Nirmala Sitharaman over Goods and Service Tax and said that even 90 months after the implementation of GST, new circulars are being issued. Speaking to ANI in Rajasthan, Khera referred to GST as Gabbar Sitharaman Tax, and said it has affected everyone. The tax that should have …

Existing system to measure GST profoundly flawed, says Minister Palanivel Thiaga Rajan
2 months, 3 weeks ago

Existing system to measure GST profoundly flawed, says Minister Palanivel Thiaga Rajan

New Indian Express  

CHENNAI: Speaking at the almuni meet, Information Technology minister Palanivel Thiaga Rajan said the existing system to measure the goods and services tax is ‘profoundly flawed’ and can be corrected by 20 different steps without needing any new legislation. “At every quarter, we used to get this kind of statement from Delhi, we have record GST collections. If GDP keeps …

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%
2 months, 3 weeks ago

Net GST growth slumps to 3.3% in December, as revenues slow and refunds rise 45%

The Hindu  

India’s gross Goods and Services Tax receipts increased at the second-slowest pace in 43 months in December, while growth in net GST collections, after adjusting for refunds, slumped to 3.3%, the weakest in financial year 2024-25. Editorial: ​Selective indecision | on the GST Council’s 55th meeting, decisions December’s gross GST inflows, for transactions undertaken in November, were a tad under …

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December
Top News
2 months, 3 weeks ago

GST collections rise 7.3 pc to Rs 1.77 lakh cr in December

Deccan Chronicle  

New Delhi: Goods and Services Tax collections rose by 7.3% to ₹1.77 lakh crore in December, maintaining figures above the ₹1.7 lakh crore mark for the tenth consecutive month. While higher than the ₹1.65 lakh crore collected in December 2023, it fell short of the record ₹2.1 lakh crore achieved in April 2024, according to government data released on Wednesday. …

Towards a simple and rational GST
3 months ago

Towards a simple and rational GST

Hindustan Times  

Social media went pop over popcorn on Saturday, sharing details on the differential Goods and Services Tax rates on variants. But, two larger issues with India’s indirect tax regime need to be promptly addressed. The window for the rationalisation of the tax slabs has been extended, and it isn’t clear whether this will even happen The first has to do …

Arunachal committed to support GST reforms for economic growth: Deputy CM
3 months ago

Arunachal committed to support GST reforms for economic growth: Deputy CM

The Hindu  

Arunachal Pradesh Deputy Chief Minister Chowna Mein stated that the government is committed to support GST reforms for fostering economic growth and ease of compliance for all stakeholders in the State. Speaking at the 55th GST Council meeting at Jaisalmer in Rajasthan on Saturday, Mr. Mein, who also holds the Finance portfolio, said that the state government remained dedicated to …

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing
3 months ago

55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing

The Hindu  

A much-anticipated review of the Goods and Services Tax levies on life and health insurance policies was put off by the apex body in charge of the indirect tax regime, the GST Council at its 55th meeting on Saturday, as some members sought more discussions on the matter before taking a final call. Moreover, rate rationalisation suggestions pertaining to about …

GST Council Meeting Highlights: Nirmala Sitharaman defers decision on insurance tax, sweet popcorn to attract 18% tax
3 months ago

GST Council Meeting Highlights: Nirmala Sitharaman defers decision on insurance tax, sweet popcorn to attract 18% tax

Live Mint  

The 55th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman in Jaisalmer, Rajasthan, introduced several updates to the taxation framework while deferring discussions on GST restructuring for insurance products. Finance Minister Nirmala Sitharaman, while addressing the media on Saturday, said the Bihar deputy chief minister Samrat Chaudhary felt that any decision on GST on health insurance would require GoM …

GST council approves key reforms, defers decision on insurance premium tax cuts
3 months, 1 week ago

GST council approves key reforms, defers decision on insurance premium tax cuts

India TV News  

The Goods and Services Tax Council, chaired by Finance Minister Nirmala Sitharaman, made significant decisions in its 55th meeting, aimed at streamlining the taxation system and curbing tax evasion. Other exemptions and clarifications Third-Party Motor Vehicle Premiums: Contributions made by general insurance companies to the Motor Vehicle Accident Fund, established under the Motor Vehicles Act, 1988, have been exempted from …

GST rate overhaul to face tough review amid tepid urban demand and inflation worries
3 months, 1 week ago

GST rate overhaul to face tough review amid tepid urban demand and inflation worries

Live Mint  

JAISALMER : Inflation and consumer appetite for purchases are two considerations that are expected to weigh on the Goods and Services Tax Council when it examines a ministerial group's recommendations for further hikes in the indirect tax, three persons informed about the development said. The ministerial group, led by Bihar deputy chief minister Samrat Chaudhary, is expected to make its …

Real estate developers urge government to reconsider 18% GST proposal on FSI, additional FSI under GST
3 months, 1 week ago

Real estate developers urge government to reconsider 18% GST proposal on FSI, additional FSI under GST

Hindustan Times  

Real estate developers have urged the government to reconsider the proposal of charging 18% Goods & Services Tax on floor space index and additional FSI charges paid to local authorities for realty projects. The pan-India developers’ body Credai has said that imposing GST on FSI charges could increase housing prices by 10% and adversely impact demand. In a letter addressed …

Proposed GST slab of 35 percent is a deterrent for growth
3 months, 1 week ago

Proposed GST slab of 35 percent is a deterrent for growth

Deccan Chronicle  

The Government brought in historic tax reforms with the introduction of the Goods and Services tax in 2017, promoting simplicity, while reducing the tax burden. As per media reports, the Group of Ministers on GST Rates Rationalisation has recently proposed a new slab of GST at 35% over and above the existing 4 slabs to products such as aerated drinks …

Levy a higher GST rate on tobacco, sugared beverages
3 months, 1 week ago

Levy a higher GST rate on tobacco, sugared beverages

The Hindu  

Over the past seven years, since the introduction of the Goods and Services Tax, there have been no significant increases in GST rates on harmful products such as tobacco and sugar-sweetened beverages, except for two minor hikes in National Calamity Contingent Duties on tobacco. Balancing GST and excise taxes Another key issue is the reliance on GST, a purely ad …

No plans of 35% GST slab yet: MoS Finance
3 months, 2 weeks ago

No plans of 35% GST slab yet: MoS Finance

New Indian Express  

New Delhi: There are no plans yet to have a 35 percent tax slab under the Goods and Services Tax, and any decision on this would be taken together in consultation with GST Council, minister of state for finance, Pankaj Chaudhary told reporters in Delhi on Friday. The compensation cess levied under GST would cease to exist after March 2026, …

Retailers urge FM and GST Council not to go for higher 35 pc tax rate
3 months, 2 weeks ago

Retailers urge FM and GST Council not to go for higher 35 pc tax rate

Live Mint  

New Delhi, Dec 12 Indian Sellers Collective, an umbrella body of trade associations and sellers across the country, has urged the finance minister and the GST Council not to accept some of GST rate rationalisation suggestions, including the proposal for inclusion of a special rate of 35 per cent on some products. The sellers body is of the view that …

GST rate hike claims are ‘premature, speculative’
3 months, 3 weeks ago

GST rate hike claims are ‘premature, speculative’

The Hindu  

The Central Board of Indirect Taxes and Customs on Tuesday dismissed reports indicating significant indirect tax rate changes and hikes on the Goods and Services Tax rates of various goods and services, as “premature and speculative”, and stressed that a ministerial group tasked with rationalising the multiple GST rates is yet to finalise its recommendations. While the GST Council, which …

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance
3 months, 3 weeks ago

Up to 75 pc of GST revenue comes from 18 pc slab: MoS Finance

Deccan Chronicle  

New Delhi: About 70-75 per cent of GST revenues collected in 2023-24 fiscal year came from the 18 per cent slab, while just 5-6 per cent came from the 12 per cent bracket, Parliament was informed on Monday. The average GST rate has fallen below the revenue neutral rate of 15.3 per cent, prompting the need to start discussions on …

GST mop-up fourth highest ever but red flags in laggard states
3 months, 3 weeks ago

GST mop-up fourth highest ever but red flags in laggard states

Hindustan Times  

The Goods and Services Tax revenue in November grossed over ₹1.82 lakh crore, the fourth highest monthly collection ever that also crossed the ₹1.80 lakh crore mark for the fifth time in 88 months since July 2017, despite major states such as Andhra Pradesh, Rajasthan and Chhattisgarh showing a dip in growth. The goods and services tax revenue in November …

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
3 months, 3 weeks ago

Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more

Live Mint  

From increase in GST collection to Andhra govt dissolving Waqf board to killing of 7 Maoists to Donald Trump picking loyalist Kash Patel as his new FBI director, here are today's top stories. GST collection for November rises by 8.5% to ₹ 1.82 lakh crore The goods and service tax collection for the month of November rose 8.5 per cent …

GST mopup surges 8.5 per cent to 1.82 lakh crore in November
3 months, 3 weeks ago

GST mopup surges 8.5 per cent to 1.82 lakh crore in November

Deccan Chronicle  

New Delhi: India's gross goods and service tax or GST mopup surged by 8.5 per cent to over Rs 1.82 lakh crore in November on year-on-year basis as compared to Rs 1.68 lakh crore in the same month last year. As per the data released by the finance ministry, the total gross GST revenue grew 8.5 per cent to over …

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat
4 months ago

Tax action in the Union budget for 2025-26 could set the course for Viksit Bharat

Live Mint  

Balancing fiscal prudence with the need to provide a growth impetus has been a hallmark of our government over past Union budgets. Particularly praiseworthy is the government’s proposal to undertake a comprehensive review of the Income Tax Act of 1961 within the context of reviewing the entire direct and indirect taxation regime. On the indirect taxation side, the 2024-25 budget …

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
4 months, 1 week ago

GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely

ABP News  

The 55th meeting of the GST Council, chaired by Union Finance Minister Nirmala Sitharaman, is scheduled for December 21 in Jaisalmer, Rajasthan. The council, comprising state finance ministers, is expected to deliberate on major tax policy changes, including a decision on exempting or reducing GST rates on health and life insurance policies. Following discussions last month, the GoM has proposed …

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs
4 months, 3 weeks ago

GST Revenue Trends: A Rollercoaster Ride of Ups and Downs

The Hindu  

GST revenue trends have been volatile this year, with growth in gross and net receipts exceeding that of the previous year's highest points, but falling short of the previous year's overall growth. While the year started with a strong surge in April, subsequent months have shown a decline in growth. The latest GST receipts indicate a positive trend, but it …

GST council must mind government, taxpayer needs
6 months, 3 weeks ago

GST council must mind government, taxpayer needs

New Indian Express  

The 54th Goods and Services Tax Council meeting scheduled for Monday is expected to take on the much-awaited rationalisation of tax rates. The council is also expected to consider the contentious issue of 18 per cent GST on life and health insurance premiums, which has drawn the ire of a wide section of Indians. Last month, the Group of Ministers …

GST mop-up in July up 10.3% to Rs1.82 lakh crore
7 months, 3 weeks ago

GST mop-up in July up 10.3% to Rs1.82 lakh crore

Deccan Chronicle  

New Delhi: India’s gross goods and services tax collection in July recorded a 10.3 per cent rise to over Rs 1.82 lakh crore. Total refunds stood at Rs 16,283 crore in July and net GST collection was Rs 1.66 lakh crore, showing a growth of 14.4 per cent. “The gross revenues from domestic activities grew 8.9 per cent to Rs …

Union Budget 2024: GST Reform Boosts Trade And Reduces Tax Burden, Says FM
8 months ago

Union Budget 2024: GST Reform Boosts Trade And Reduces Tax Burden, Says FM

ABP News  

Union Budget 2024: Finance minister Nirmala Sitharaman in her Budget speech in the Lok Sabha on Tuesday highlighted the positive impacts of the Goods and Services Tax. Presenting the Union Budget 2024-25 in Parliament, Sitharaman praised GST for decreasing the tax burden on the common man, reducing compliance obligations, and lowering logistics costs for trade and industry. Further measures to …

Major reforms expected by key sectors in Budget 2024, will it deliver?
8 months ago

Major reforms expected by key sectors in Budget 2024, will it deliver?

New Indian Express  

With the first Union Budget after the Lok Sabha elections all set to be unveiled, there are great expectations regarding major policy and tax reforms. These expectations include: A new subsidy scheme similar to FAME II with a more comprehensive coverage; Streamlining policies towards R&D efforts in battery technology and grid integration for development of a widespread and reliable charging …

Lessons from India’s midnight tryst with fiscal destiny
8 months, 1 week ago

Lessons from India’s midnight tryst with fiscal destiny

New Indian Express  

At this point, Chidambaram passed a handwritten note to me and other finance ministry secretaries. This involved setting up the required technology systems, building a GST model that is revenue-neutral to the states, and achieving a grand bargain between states and the Centre to integrate divergent tax systems. It was known that the technology systems were not yet fully ready, …

A fresh start: On the Goods and Services Tax Council meet
8 months, 3 weeks ago

A fresh start: On the Goods and Services Tax Council meet

The Hindu  

The Goods and Services Tax Council was convened last week for the first time in nearly nine months. Apart from several industry-specific measures, a few of which will kick in with retrospective effect, the Council also opted to waive interest and penalty on tax dues for the first three years of GST, provided they are paid by March 2025. Beyond …

GST Council meeting today: Here are the five key expectations
9 months ago

GST Council meeting today: Here are the five key expectations

Live Mint  

New Delhi: Goods and Services Tax Council is meeting in the capital after over eight months to discuss indirect tax matters, including further strengthening the tax ecosystem to make it foolproof. Law change on scope of GST The Council is expected to clear the text of legislative amendments to Central, State and Integrated GST laws to exclude extra-neutral alcohol, the …

GST dilemma: The burden of related party transactions
9 months, 1 week ago

GST dilemma: The burden of related party transactions

New Indian Express  

Introduction: The Goods and Services Tax marks a pivotal transformation in the landscape of taxation, fundamentally altering the way taxes are assessed and collected. Delving into its intricacies, particularly concerning Related Party Transactions, holds paramount importance for businesses endeavouring to navigate the realms of regulatory compliance and financial prudence effectively. GST implementation & Objectives: Introduced in India in July 2017, …

Move ahead: On GST and reform
9 months, 1 week ago

Move ahead: On GST and reform

The Hindu  

Revenues from the Goods and Services Tax, which completes seven years at the end of this month, hit a record high of ₹2.1 lakh crore in April that typically sees higher inflows due to a year-end compliance rush. Although gross revenues from domestic transactions grew 15.3%, accelerating from a 13.4% rise a month earlier, revenues from goods imports dipped for …

10 years of Modi government: Tax reforms, challenges
10 months, 2 weeks ago

10 years of Modi government: Tax reforms, challenges

New Indian Express  

NEW DELHI: In the last 10 years of Modi government rule, India has undergone marked tax reforms focused on streamlining the tax framework, enhancing compliance, and fostering transparency. Key reforms common to Customs, GST, income tax, and corporate tax include digitisation for e-filing and digital payments, real-time data sharing to detect tax frauds, faceless assessment and appeals, dispute resolution schemes …

GST has helped people with a pro-poor approach, says Nirmala Sitharaman
10 months, 3 weeks ago

GST has helped people with a pro-poor approach, says Nirmala Sitharaman

The Hindu  

The Goods and Services Tax regime has benefitted people through a pro-poor approach, Union Finance Minister Nirmala Sitharaman asserted on May 6, while underlining that the recent landmark of GST collections crossing ₹2 lakh crore was driven by heightened economic activity. Noting that the idea of GST was first mooted under the Atal Behari Vajpayee-led NDA government, Ms. Sitharaman said …

Broaden GST net, cut cesses to reduce tax burden
10 months, 3 weeks ago

Broaden GST net, cut cesses to reduce tax burden

New Indian Express  

Goods and services tax collection crossed the landmark of Rs 2.1 lakh crore for the first time in April. Truth be told, April has always seen higher collections, thanks in part to year-end adjustments in tax assessments. But what sets apart the latest haul is that a part of the 12.4 percent increase over last year was led by a …

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair
11 months, 2 weeks ago

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair

The Hindu  

A key architect of India’s tax reforms and the chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” Goods and Services Tax regime, such as switching to a single tax rate of 12% and sharing revenues with local governments and municipal corporations. Stating that a single …

A reform window: On the GST trajectory
11 months, 3 weeks ago

A reform window: On the GST trajectory

The Hindu  

The financial year 2023-24 appears to have ended on a high on the revenue front. Net direct tax collections rose 19.9% by mid-March to hit 97% of revised Budget targets, while the Goods and Services Tax has yielded a robust ₹20.18 lakh crore. Gross GST revenues in March, for transactions undertaken in February, crossed ₹1.78 lakh crore, the second highest …

GST collections up 12.54% in February 2024
1 year ago

GST collections up 12.54% in February 2024

The Hindu  

India’s gross revenues from the Goods and Services Tax grew at a three-month high pace of 12.54% in February to cross ₹1.68 lakh crore, marking the fourth-highest monthly collections from the tax. February’s GST revenue growth reflected the third highest uptick in 2023-24 and lifted the total collections so far this year to ₹18.4 lakh crore, 11.7% above the same …

GST Needs A Robust Dispute-Resolution Mechanism - News18
1 year, 1 month ago

GST Needs A Robust Dispute-Resolution Mechanism - News18

News 18  

The Goods and Services Tax was introduced to rationalise the indirect tax system in India, thereby creating a common national market for goods and services. Disputes on an interpretation of the law, unsatisfactory advance ruling mechanism, and revenue-centric approach by tax authorities have led to an increase in litigation. For example, the ‘Sabka Vishwas Scheme 2019’ resolved around 49,534 pre-GST …

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
1 year, 1 month ago

BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget

Deccan Chronicle  

Bengaluru: Chief Minister Siddaramaiah pointed out that Central Government led by Bharatiya Janata Party had meted out three injustices to States including Karnataka such as “unscientific” implementation of Goods and Services Tax, increase in Cesses and Surcharges and change in allocation of formula in tax devolution and grants-in-aid, adversely affected the financial strength of the State. Siddaramaiah accused the previous …

GST collections surge to second highest ever at 1.72 lakh crore in January
1 year, 1 month ago

GST collections surge to second highest ever at 1.72 lakh crore in January

India TV News  

Goods and Services Tax collections in January surged by 10.40 per cent to exceed Rs 1.72 lakh crore, reflecting buoyant economic activity and setting the stage for the next phase of GST reforms. This marks the second-highest monthly collection ever, with three months in the current fiscal year recording Rs 1.70 lakh crore or more in collections. The finance ministry …

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