Monday, January 24, 2022

Goods and Services Tax

Telangana to seek early release of GST compensation

Hyderabad: Telangana will seek early release of pending GST (Goods and Services Tax) compensation to the State at the 45th GST Council meeting scheduled...

GST revenue at over Rs 1.16 lakh cr in July

Goods and Services Tax (GST) collection in July 2020 was Rs 87,422 crore.

GST reduced tax rate, increased compliance: Finance Ministry

Under GST, businesses with an annual turnover of up to Rs 40 lakh are exempt from the tax.

Editorial: No cause for celebration

Painting a rosy picture based on April's GST collections could be a miscalculation as all indicators point to a grim picture of the economy

The flawed disinvestment push

Instead of selling off public sector assets, government should choose expansionary fiscal policy partially financed by monetisation for reviving demand

Punishing the performers

The 15th Finance Commission report is unfair in terms of devolutions and undermines the federal spirit

Aviation ministry exploring bringing jet fuel under GST

ATF or jet fuel cost, which account for for 45%-55% of an airline's operating expenses, in India is among the highest in the world and the industry has long been demanding that it should be brought under GST

Concerns of telecom sector not addressed in Budget: COAI

"We are a bit disappointed that concerns of the telecom sector, which is the backbone of digital India, remained unaddressed," S.P. Kochhar, Director General, COAI, said in a statement.

Excise duty collection jumps 48 per cent

Excise duty collection during April-November 2020, was at Rs 1,96,342 crore, up from Rs 1,32,899 crore mop-up during the same period in 2019,

Include natural gas under GST: Industry

Natural gas is currently outside the ambit of GST, and existing legacy taxes -- central excise duty, state VAT, central sales tax -- continue to be applicable on the fuel

Tribal artisans asked to make use of government schemes

Kothagudem: Tribal artisans have been asked to make use of government schemes to improve their skills and to reach a wider customer base. Awareness programme...

GST revenues cross trillion mark for second straight month

Collections of tax on the sale of goods and rendering of services came in at Rs 1,04,963 crore in November

Penalty for non-compliance with QR code provisions waived

It would be mandatory for businesses to follow the QR code provisions from April 1, 2021 to avail this penalty waiver

Economy coming on track: Prakash Javadekar

An increase in rail freight collection, higher goods and services tax mop-up, rise in power demand and improved FDI inflows indicate that the economy was doing better, said Union Minister

Long road to recovery

Centre must increase public spending to stimulate demand and strengthen growth momentum

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