Goods and Services tax

GST collection grows 9% to Rs 1.87 lakh crore in October

Sat, Nov 02, 2024

Gross GST collection grew 9 per cent to over Rs 1.87 lakh crore in October on higher revenues from domestic transactions.

More >

GSTN to launch invoice management system from October 1

Tue, Sep 03, 2024

In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched.

More >

Government rolling out pan-India biometric authentication to prevent GST fraud

Sat, Jun 22, 2024

Two pilot projects for biometric authentication have already been carried out successfully and now the facility will be rolled out nationwide in a phased manner, the Finance Minister said at a press conference.

More >

Coal India net profit up 4.21% in Q3

Sat, Feb 10, 2018

In a filing to the stock exchanges, it said the employee benefit expenses for the quarter includes an adhoc provision of Rs 67.79 crore towards pay revision of the executive employees.  

More >

GST returns under composition scheme have a surprise: Hasmukh Adhia

Tue, Feb 06, 2018

Out of 10 lakh businesses that opted for the composition scheme during the July-September period, about 7 lakh have filed GST returns for the quarter.

More >

Budget FY19: Will there be any change in GST?

Thu, Feb 01, 2018

Economic Survey 2018  says, “GST promises to be a buoyant source of future revenues.”

More >

Need for simplification of GST compliances: CII

Wed, Jan 31, 2018

Industry body Confederation of Indian Industry (CII) on Tuesday called for the need to simplify GST compliances and implementation.

More >

GST promises to be a buoyant source of future revenues: Economic Survey

Mon, Jan 29, 2018

For understanding the current revenue performance, the survey explained that it requires all the  taxes that the GST replaced from an all-India perspective.

More >

GST revenue collections rise to Rs 86,700 crore in December; one crore taxpayers registered

Thu, Jan 25, 2018

The Ministry tweeted out that the total revenue collections under GST for the month of December 2017 amounted to Rs 86,703 crore, till 24th January, 2018.  

More >

Oil & gas industry seeks infra status, lower taxes in Budget

Thu, Jan 25, 2018

The oil and gas industry has sought infrastructure status for the exploration and production sector as also lowering of taxes on locally produced oil to boost domestic output and cut import dependence.

More >

GST anti-evasion: Cess likely on pan masala at manufacturing stage

Sun, Jan 21, 2018

The Council will look at levying the cess at the manufacturing stage based on production capacity as against the current practice of imposing it on supplies made by the manufacturer

More >

GST on entry to amusement parks, drinking water cut; here's what becomes cheaper post January 25

Fri, Jan 19, 2018

Among the 29 goods that have received a rate cut were second-hand vehicles medium and large cars and SUVs from 28% to 18%. Items like confectionery sugar and bio-diesel have also received a tax cut.  

More >

GST Council slashes rates on 29 items, 54 services; return filing to be simpler

Thu, Jan 18, 2018

More >

Govt lowers additional borrowings to Rs 20K cr in FY18

Wed, Jan 17, 2018

Last month, after consultation with the RBI the government had said it would make additional borrowing of Rs 50,000 crore this fiscal through dated securities. 

More >

DGS slaps GST profiteering notice on Hindustan Unilever

Wed, Jan 17, 2018

The Directorate General of Safeguards has slapped notice for profiteering on FMCG firm HUL for allegedly not passing on price reduction benefit to consumers post GST rollout. The notice seeks details from the company about the pre and post GST prices of its entire products range.

More >

India reclaiming place at growth leader, says IMF

Tue, Jan 16, 2018

After a short period of slowdown in the economy, India is reclaiming its place as a growth leader, first deputy managing director of the International Monetary Fund (IMF) David Lipton said.

More >

COAI seeks relief on tax demand over rebate on SIM sale

Thu, Jan 11, 2018

Cellular operators' body COAI today sought lowering of GST on telecom services and bringing tax withholding rate to 1 per cent over discount that companies offer for sale of pre-paid SIM cards to independent distributors.

More >

India Inc may get relief in GST transition credit in Budget 2018

Tue, Jan 09, 2018

Goods and Service Tax (GST) has been effective in India since July 2017, and many taxpayers, exporters, industries and markets have claimed that they faced difficulties in adapting the regime.

More >

Indian economy's four-year low data surprise experts, analysts

Mon, Jan 08, 2018

GDP numbers stood at 6.3% in the second quarter of FY18 (Q2FY18) from 5.7% in the preceding quarter.

More >

Reforms induce bull run in equity markets despite some volatility

Sat, Dec 30, 2017

However, the year was not without its share of lows -- from dampening second quarter growth numbers to the chaos that followed the Goods and Services Tax (GST) implementation and threat of a nuclear showdown in the Korean peninsula -- induced volatility in the indices.

More >

Disappointing GST data signals fiscal slippage in FY18

Fri, Dec 29, 2017

ICRA highlighted that stripping off 50% of the IGST inflows and the entire GST compensation cess receipts in November 2017, indicates that the balance taxes of the GoI contracted by a considerable 14.8% relative to November 2016 .

More >

Tax payers can see status of returns filed on GSTN portal

Wed, Dec 27, 2017

"All users logging on the GST portal can now see the status of their returns filed for all the returns like GSTR-1 or GSTR-3B at one place," GSTN CEO Prakash Kumar said.

More >

GST collections decline to Rs 80,808 crore in November

Tue, Dec 26, 2017

Falling for the second consecutive month, the total revenue collected under the Goods and Services Tax (GST) touched Rs 80,808 crore in November -- down from Rs 83,346 crore in October, possibly due to rate cuts in November. GST collection in September was over Rs 92,000 crore.

More >