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 in Telangana, particularly those who are in the state GST jurisdiction because 100s of notices were issued for 2017-18 to 2019-20 by the state GST department. Sources in the commercial tax department say that some of these decisions will lead to the loss of tax arrears and those who have paid tax may also seek refund, which could be detrimental for state finances.

History of this topic

Arunachal committed to support GST reforms for economic growth: Deputy CM
1 day, 17 hours ago
55th GST council meeting in Jaisalmer on December 21, 2024: Finance Minister Nirmala Sitharaman media briefing
2 days, 9 hours ago
GST rate changes: Consult the public
2 weeks, 3 days ago
GST rate hike claims are ‘premature, speculative’
2 weeks, 6 days ago
Top News on Dec 1: GST collection rises, Andhra dissolves Waqf board, Kejriwal rules out alliance in Delhi polls, more
3 weeks, 1 day ago
GST Council To Meet In Jaisalmer On Dec 21; Key Decisions On Insurance And Rate Cuts Likely
1 month ago
Research funds totally exempt from GST, notices sent to private institutions like IIT, Anna, Punjab University no longer to be sought
3 months, 1 week ago
GST Council meets today to discuss rate rationalisation, tax on insurance
3 months, 2 weeks ago
GST Council to deliberate on taxation of insurance premium, report on online gaming
3 months, 2 weeks ago
​Enhancing oversight: The Hindu Editorial on the GST Council meet and issues
3 months, 3 weeks ago
GST: Infosys, foreign airlines, shipping lines may see relief as concerns rise for ‘ease of doing business’, says report
4 months ago
Medak MP Praises Finance Bill for Tax Transparency, Criticizes State Govt
4 months, 2 weeks ago
Karnataka Authorities Have Withdrawn GST Notice: Infosys
4 months, 3 weeks ago
Lessons from India’s midnight tryst with fiscal destiny
5 months ago
GST Council to meet on June 22; Centre likely to take suggestions on Union Budget
6 months, 1 week ago
GST Council to meet on June 22: What will be the agenda?
6 months, 1 week ago
A reform window: On the GST trajectory
8 months, 3 weeks ago
Telangana’s GST Revenue Sees 18% Growth in 2024
8 months, 4 weeks ago
Karnataka’s GST collection increased owing to guarantee schemes: Siddaramaiah
9 months, 1 week ago
Over ₹1,000-crore GST fraud in Telangana unearthed by CT department
9 months, 1 week ago
GST collections up 12.54% in February 2024
9 months, 3 weeks ago
BJP Government Did Not Rectify Injustice Meted out To Karnataka Alleges CM In His Budget
10 months, 1 week ago
Telangana High Court; GST Exemption Doesn't Cover Affiliation Fee And Inspection Fee Paid By Colleges To University
1 year, 1 month ago
GST revenue growth slowed to 10.2% in September
1 year, 2 months ago
Finance Ministry Notifies Setting Up Of 31 Benches Of GST Appellate Tribunal
1 year, 3 months ago
Govt. Constitutes State Benches For GST Appellate Tribunal
1 year, 3 months ago
Centre, states collect ₹1.65 trillion in GST revenue in July
1 year, 4 months ago
GST collection, devolution a success story in Northeast: Finance Minister Nirmala Sitharaman
1 year, 5 months ago
Maharashtra to raise traders' concern after Centre brings changes in GST rules
1 year, 5 months ago
Work in progress: The Hindu Editorial on the GST Council meet and issues
1 year, 5 months ago
GST Not Payable On Out-Of-Court Settlement: AAR
1 year, 5 months ago
GST Council to weigh tax cuts on select items
1 year, 5 months ago
An incomplete reform: on six years of the Goods and Services Tax
1 year, 5 months ago
GST Day 2023:
1 year, 5 months ago
GST helped increase revenue buoyancy of states as all-round benefit stands out 'exemplary': FM
1 year, 5 months ago
GST has been a gamechanger for India’s economy
1 year, 5 months ago
At ₹1.87 lakh crore, GST continues to impress
1 year, 7 months ago
GST revenue collection for April 2023 reaches an all-time high at Rs 1.87 lakh crore
1 year, 7 months ago
Reform reluctance: On the 49th GST council meeting
1 year, 10 months ago
Centre will clear GST dues of states, TS to get Rs.1835 cr in arrears
1 year, 10 months ago
Centre to pay Rs 689 crore GST dues to AP
1 year, 10 months ago
Harish Rao skips GST Council meeting, Centre clears pending GST compensation for TS
1 year, 10 months ago
GST Council clears setting up tribunals, ad valorem cess on pan masala
1 year, 10 months ago
Entire GST compensation cess dues will be cleared, announces Nirmala Sitharaman
1 year, 10 months ago
GST Council: Pending GST compensation of ₹16,982 cr for June will be cleared
1 year, 10 months ago
GST Council Meeting Starts; Key Matters on Agenda
1 year, 10 months ago
AP surpasses national average in GST collections, says CM
1 year, 10 months ago
Revamp of Kerala State GST department completed
1 year, 11 months ago
100 Important High Court Judgments of GST in 2022
1 year, 11 months ago

Discover Related