GST council

Financial strength critical for 'Atma Nirbhar Bharat': Nirmala Sitharaman

The temptation to borrow beyond capacity would create an inter-generational burden and affect the fiscal soundness of the country, Nirmala Sitharaman said.

published on : 5th November 2022

Committee on GST tribunal to meet on Aug 17

“Only after the submission of GoM reports on GSTAT and online gaming, casinos, the next GST Council meet will be organised,” said one of the sources privy to the matter.

published on : 28th July 2022

GST rate hikes and chaos of clarifications

The fact that Finance Minister Nirmala Sitharaman had to step in with a series of 14 tweets to clear the picture illustrates the state of drafting and explanatory communication.

published on : 24th July 2022

Amul increases price of buttermilk, curd, lassi after 5 per cent GST imposition

The price of 200 ml cup of lassi, 85 gm cup of plain curd, 85 gm of Mishti doi remain unchanged.  Other dairies are also expected to increase the prices of these items.

published on : 20th July 2022

Govt notifies procedural changes in GST rules to ease compliance burden on small players

KPMG in India Partner Abhishek Jain said these procedural changes in GST rules will help the small players in undertaking compliances,

published on : 6th July 2022

Healthcare industry body seeks suspension of 5 per cent GST on high rental hospital rooms

Lobby group NATHEALTH said the 5 per cent GST distorts the design of the GST and imposes an additional tax burden on the healthcare sector.

published on : 5th July 2022

'She blurted out the truth': Congress' jibe over Sitharaman's 'GST on horse-trading' remarks

The clip was from Wednesday where at a press conference the finance minister said the GST council had deferred a decision on 28 per cent tax on casinos, online gaming, horse-racing and lottery.

published on : 1st July 2022

GST Council hikes tax rates, exemptions removed on several items

The GoM, headed by Karnataka Chief Minister Basavaraj Bommai, has been given 3 months time to submit a final report on rate rationalisation and tax slab merger.

published on : 30th June 2022

Government deregulates domestic crude oil market

The government on Wednesday deregulated the sale of domestically-produced crude oil, giving companies autonomy to sell their produce to whomever they want. 

published on : 30th June 2022

40,000 taxpayers live in Telangana, pay Andhra Pradesh: Harish Rao

As the GST loss due to this reason is quite huge, Harish raised the issue in the 47th GST Council meeting held in Chandigarh.

published on : 30th June 2022

GST Council meet: No decision on extending GST compensation to states

With two years being lost in the pandemic, states have sought an extension of this compensation mechanism.

published on : 29th June 2022

Pre-packed food items should attract nominal GST: Panel

The decision comes at a time when issues regarding revenue leakage due to the subjective nature of the term ‘branded’ were raised.

published on : 29th June 2022

Opposition-ruled states demand extension of GST compensation period by five years

As the GST Council commenced here on Tuesday, the states have also cited a recent Supreme Court ruling that decisions made by the Council are not binding and states need not stick to them.

published on : 28th June 2022

GST Council gives nod to remove tax exemptions on some items

The Council also cleared a host of compliance procedures for GST-registered businesses along with a GoM report on high-risk tax payers.

published on : 28th June 2022

GST Council to discuss removing exemptions on host of services

Sources said the GoM has recommended that zero per cent tax rate on hotel accommodation of less than Rs 1,000 per unit per day be replaced by a 12 per cent rate as this exemption was prone to misuse.

published on : 28th June 2022

GST council meets to discuss rate change, compensation scheme

Compensation scheme for states had ended on June 30; states have been asking to extend it

published on : 28th June 2022

West Bengal Finance minister Chandrima Bhattacharya to attend key GST Council meeting

The Council in its meeting starting Tuesday is slated to discuss an array of issues, including a mechanism for compensating states for revenue loss and tax rate tweaks on some items.

published on : 27th June 2022

GST Council meet: Talks on states' compensation, easier e-commerce suppliers' registration on cards

The Council may see a stormy discussion around compensation payout to states with opposition-ruled states aggressively pushing for its continuation beyond the five-year period which ends in June.

published on : 27th June 2022

28 per cent GST likely on casinos, online gaming, horse races on gross revenue

In case of race courses, the GoM has suggested that GST be levied on the full value of bets pooled in the totalisators and placed with the bookmakers.

published on : 26th June 2022

GST Council may consider changes in monthly GST payment form

The move would help curb the menace of fake billing, whereby sellers would show higher sales in GSTR-1 to enable purchasers to claim input tax credit, but report suppressed sales in GSTR-3B.

published on : 24th June 2022
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