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Dharmendra Pradhan hopes coming Budget will signal inclusion of ATF, natural gas in GST
When the Goods and Services Tax (GST) was introduced on July 1, 2017 amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
COAI promises better tech, network with extra revenue
The industry’s move to raise tariffs will ultimately benefit the customer and the gover...
Four arrested for Rs 400 cr GST fraud, ED might join probe
The CGST department has arrested four persons for allegedly making false input tax...
Return filing system is working fine: GSTN
GSTN said any online system has to have a load threshold and for GST return filing system, it is at 1.5 lakh returns filing at a particular moment. If this threshold is reached, the site shows a message asking the taxpayer to wait for his turn in a few minutes, it said.
GST filings rise 8.2% to 64.8 lakh in November
CBIC is drawing comfort from the numbers, saying “there is a fair improvement in compliance” and added that the GSTN return filing system was working smoothly.
How smart MSMEs are harnessing digital wave to come out of twin shocks of GST and note ban
A digital wave and formalisation are ending old practices, helping sturdier and stronger companies emerge.
GST might have flaws but cannot damn it now: Finance Minister Nirmala Sitharaman
"GST might have flaws but I'm sorry, it's the 'kanoon' of the country now," Sitharaman said.
ICICI Bank sells entire stake in GST Network to 13 state governments
As per the decision, the Centre will own a 50 per cent stake in the GST Network and the remainder will be held by the states on a pro-rata basis in the new structure.
There should be just 3 GST rates: 6, 12 & 18%: Bibek Debroy
For small and medium cos, GST has also complicated matters because of various rates and processes.
GST: The challenges before India's largest indirect tax reform
GST was supposed to untangle the indirect tax regime and facilitate economic growth.
Assam CM directs for new set of building bye-laws within October 31
The Chief Minister issued the directions in a meeting held on GST at his conference room.
Financial services firms come under taxman’s scanner
Indirect tax officials suspect that some of these companies may have claimed input tax credit on expenses incurred before the switchover to the GST regime in July 2017, said people aware of the matter.
Many companies in a fix as working capital may be stuck due to a GST regulation
Regulation disallows firms to take input tax credit if vendor invoices are not uploaded on the GST network. According to GST law, invoices should be uploaded on the GST IT network for every transaction for it to be eligible for tax credits.
E-invoicing to be introduced on a voluntary basis: here's what you should know
E-invoicing in India will be a big move, due to the volume of business transactions undertaken every day.
Govt forms committee to rationalise additional taxes on Aviation Turbine Fuel
As per government estimates, if a direct billing mechanism is implemented, airlines would be able to save around Rs. 400 crore per year.
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