- Tag results for Goods and Services Tax
When some substantial amount accrues to IGST pool, it is apportioned between the centre and states so that it does not lie idle with the Centre
Speaking about demonetisation of high-value currency notes on November 8, 2016, Mitra said it has hit farmers and unorganised sector of the economy badly since their business mode was cash dependent.
Alleged harassment by officials of Goods and Services Tax (GST) department to pay a penalty of Rs 50 lakh led to the suicide of a 50-year-old businessman.
As per the Bureau of Outreach and Communication under the ministry, the "expenditure on GST advertisements through this bureau" on print media stood at Rs 1,26,93,97,121.
Finance Minister T M Thomas Isaac said the squads will help the department in ensuring e-way bill compliance by transporters.
Currently, the GST council has four tax slabs of 5 per cent, 12 per cent, 18 per cent and 28 per cent under Goods and Services Tax.
The commerce ministry has created a group of eminent persons to develop a road-map for future of SEZs to have a very fresh look at it and come up with ideas.
It termed the slowing down of the industrial output in May to 3.2% and the inching up of the retail inflation in June to 5% as short-term challenges.
Using a ‘peaceful’ approach, a cultural evening is being organised to protest against GST and the imposition of tax on handmade goods.
New System for filing returns, rationalisation of tax slabs and legal changes of the structure will top the agenda of the GST council meeting but will skip bringing natural gas under ambit of GST.
Of the 12 lakh small and medium enterprises in Tamil Nadu, records reveal that nearly 50,000 shut down last year.
A civil aviation ministry official said that the ministry is of the view that ATF should be brought under GST and for this the ministry has earlier also written to the ministry of finance.
The government's decision to incentivize digital payments under GST will be deferred by one year as it will have revenue implication for the government.
According to a statement by Ministry of Finance, the tax evasion was discovered based on specific intelligence gathered by the Preventive Unit of the Central Taxes department.
The PM also shared a poster on "One Year of GST" which listed down the achievements of the One Nation, One Tax.