- 17 Nov 2022 06:09 PM
- New
Amit Mitra presses for a meeting of GST Council
Source: https://www.livemint.com/economy/amit-mitra-presses-for-gst-council-meeting-11668616026467.html
NEW DELHI : West Bengal chief minister Mamata Banerjee’s principal chief adviser and former member of the Goods and Services Tax (GST) Council, Amit Mitra, on Wednesday urged Union finance minister Nirmala Sitharaman to hold the meeting of the council and decide on outstanding tax policy issues on a consensus basis.
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- 16 Nov 2022 06:20 PM
- New
Why is GST revenue running ahead of overall economy?
Source: https://www.livemint.com/economy/breaking-down-the-surge-in-gst-revenues-11668531458502.html
Revenues from the goods and services tax (GST)—the countrywide indirect tax since June 2017—have been on a tear. In October, GST revenues touched ₹1.5 trillion, the second-highest monthly collection ever, after April 2022. Monthly GST revenues have exceeded ₹1.4 trillion for eight straight months, a statistic the central government has been playing up. Why have GST revenues risen this fast, outpacing even direct tax collections? Are there certain segments pulling performance? And what do GST trends tell us about the regional spread of economic activity post-covid?
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- 15 Nov 2022 06:08 PM
- New
Govt to bring fuel under GST, says Petroleum minister
Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday that the Central government is ready to bring petrol and diesel under the Goods and Services Tax (GST) regime. Hardeep Puri also said that it was unlikely that the states would agree to this move as liquor and energy are revenue-generating items for the states. But if the states make the move, “we are ready", Hardeep Puri said.
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- 14 Nov 2022 06:24 PM
Why merging GST NAA with CCI may not be a prudent move
The proposed merger of the two regulatory bodies may seem logical given the perceived commonality between the two – namely, regulation of economic laws and protection of consumer interests.
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- 14 Nov 2022 06:29 PM
GST Council Newsletter for the month of October, 2022
Source: https://taxguru.in/goods-and-service-tax/gst-newsletter-october-2022.html
It is heartening to see the buoyancy in revenue collection for the past eight months where the monthly GST revenue collections were reported above 1.4 lakh crores. The revenue collection for the month of October, 2022 stood at 1,51,718 crore indicating a 16.6% year-on-year rise as well being the second highest level of tax collection since the rollout of the indirect tax regime and this augurs well for the economy.
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- 12 Nov 2022 06:00 PM
India has become centre of hope for entire world: PM Modi
New Delhi: Prime Minister Narendra Modi on Saturday that India has become a beacon of hope for the entire world as a result of the government’s policies and decisions aimed at improving the lives of ordinary citizens.
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- 11 Nov 2022 05:53 PM
Officers’ panel to decide on GST profiteering regulation
NEW DELHI : If the government can remove the administrative bottlenecks, a panel of officers entrusted by the GST Council to take emergency decisions, will issue orders on how goods and services tax (GST)-related profiteering will be regulated after November end, said a person familiar with the discussions in the government.
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- 11 Nov 2022 06:03 PM
Finally, clarity coming soon on GST on crypto
NEW DELHI : Clarity on applying goods and services tax (GST) on crypto or virtual digital assets appears to be around the corner, with the Central Board of Indirect Taxes and Customs (CBIC) working on an agenda paper on the topic. The board has been interacting with the industry to decide on the GST rate for crypto assets and identify whether they should be classified as ‘goods’ or a ‘service’, besides related issues.
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- 11 Nov 2022 06:07 PM
CBIC issues fresh guidelines on transitional credit
NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) has issued fresh guidelines on verification of tax credit claims by businesses relating to their transition to the Goods and Services Tax (GST) regime in 2017.
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- 09 Nov 2022 05:41 PM
‘India a changed nation post demonetisation’: Kotak CEO
‘India a changed nation post demonetisation!’ said Kotak Mahindra Bank chief executive Uday Kotak on the sixth anniversary of demonetisation. He said that there were challenges due to demonetisation, however, the country also has positive effects of it.
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