"goods-and-services-tax"

GST GoM approves Centre’s proposal to replace 4-tier system with 5% and 18% slabs; luxury goods to face 40% tax.

The Centre clarified in Parliament that it is not considering GST on UPI transactions over ₹2,000. Karnataka’s GST notices to traders were issued by the state’s Commercial Tax Department, not the Centre, Minister Pralhad Joshi asserted, accusing the state of misleading the public

The notice, received on April 28, 2025, relates to an ongoing Goods and Services Tax (GST) matter that has been under review across the online gaming industry for over 18 months.

Tax revenue, the primary contributor, has also seen a dip in performance, achieving just Rs 1.02 lakh crore, which is around 62.07 per cent of the targeted Rs 1.64 lakh crore, compared to 65.37 per cent last year

Weavers, who were already in crisis due to lack of orders from the State government, had pinned their hopes on getting GST exemption in this budget.

During the course of the investigation, it came to light that ‘Full Fledged Money Changer Companies' (FFMCs) were used for parking/routing of funds generated through fraudulently passed on ITC, it said.

This is the second-highest monthly collection ever and marks the third month in this financial year with a collection of Rs 1.70 lakh crore or more.

Punjab Finance Minister Harpal Cheema said the total revenue collected from GST, Excise, VAT, CST and PSDT in 2023-24 has registered an increase of 17.49 percent as compared to last fiscal year

Every month, there will be 800 lucky draws of GST invoices having a prize value of Rs 10,000 each, and 10 draws with a prize of Rs 10 lakh each, the finance ministry said in a statement

“Further, this decision will encourage illegal offshore gambling operators, drive Indian users to them and ultimately lead to neither optimal tax collection nor the growth of the legitimate industry,” the letter read.

India's aviation industry suffered a loss of over Rs 24,000 crore in the last two financial years during 2020-22.

Hyderabad: It’s not the first time that strange and random things trend and catch our attention on Twitter. The hashtag #PaneerButterMasala has been trending on Twitter since Wednesday morning, and there’s a reason for that— the newly revised Goods and Services Tax (GST). The rates were revised during the two-day GST council’s 47th meeting held […]

New Delhi: The recommendations on Goods and Services Tax rates that were made during the 47th GST Council meeting held in June come into effect today. Following is a list of items that will get costlier: 1. GST on paper knives, spoons, forks, ladles, skimmers, cake-servers increased from 12 per cent to 18 per cent. […]

As the Goods and Services Tax (GST) regime completes five years this month, a closer look at the implementation challenges makes it clear that the States are losing out a lot in the bargain. At the time of the rollout in 2017, the GST was considered a prelude to the countrywide integrated market but in […]

Hyderabad: Telangana will seek early release of pending GST (Goods and Services Tax) compensation to the State at the 45th GST Council meeting scheduled to be held at Lucknow in Uttar Pradesh on September 17. The State government, which had strongly opposed the Centre’s attempt to impose ‘backdoor GST’ on liquor in the name of […]

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

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

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

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

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