The cost of one ton of imported printing paper was $300 or Rs 23,000 before the pandemic, and it has reached about Rs 55,000-Rs 60,000 now.
The group was asked to review the exempt goods to expand the tax base, suggest changes to simplify the rate structure and garner the required resources.
Singapore court fines jewellery firm director SGD 104,400 for conspiring with Indian tourists to cheat on GST
The cases involving Woo Sin Chai from Arthesdam Jewellery and his colleagues were linked to large amounts of GST tourist refunds which were claimed from 2015 to 2016, The Straits Times reported.
Under the Goods and Services Tax (GST) law, states were guaranteed to be compensated bi-monthly for any loss of revenue in the first five years of GST implementation from July 1, 2017.
Goods and Services Tax (GST) is applicable on these prices. In June 2017, GO 75 was issued increasing ticket rates in various classes of cinema theatres.
Growth is the result of increase in collection from automobile, mining and manufacturing sectors, says GST Commissioner
The GST revenues for the month of November 2021, are 25 per cent higher than November 2020, and 27 per cent higher over November 2019.
Apart from the recovery in demand backed by the festive sales, the government also attributed growth in GST to improved compliance level.
Tax collections last month on goods sold and services rendered was 24 per cent higher than in October 2020, and up 36 per cent over 2019-20.
When the GST was implemented in 2017, there were over 200 items which were in the 28% tax slab, but subsequently the rates on many of these items were cut to 18% or less.
For taxpayers filing quarterly return, GSTR-1 filing would be restricted if he has not furnished the return in Form GSTR-3B for preceding tax period.
"GST, at the hands of the applicant, is not leviable on the amount representing the employees' portion of canteen charges," the AAR said.
KN Balagopal worried that while there is growth in overall consumption and production and thus an overall jump in tax collection, there is no commensurate growth in tax collection for the states.
Taxpayers with aggregate turnover of a financial year exceeding Rs 5 crore would furnish a self-certified reconciliation statement along with the annual return, instead of a CA certified statement.
The PM also shared a poster on "One Year of GST" which listed down the achievements of the One Nation, One Tax.