"gst"

It rides on rhetoric and has little substance to combat either inflation or facilitate growth

Warangal: In a major breakthrough, the Commissioner’s Task Force sleuths along with Lingala Ghanpur police arrested two marijuana peddlers and seized a whopping 1,577 kg of dry ganja with an estimated worth Rs 2,36,55,000 (Rs 1,5000 per kg) after intercepting a van (AP-28-TD-0483) at Nellutla crossroad in Jangaon district under Warangal Police Commissionerate jurisdiction on […]

Mumbai: The country’s largest lender State Bank of India said on Tuesday it has decided to enhance the free IMPS online transactions limit to Rs 5 lakh from the Rs 2 lakh in order to encourage customers to adopt digital banking. SBI said in a statement that it will not levy any service charge on […]

Hyderabad: If you are a food lover or regularly order food online, you are going to feel the pinch when you place your next order with food aggregators such as Swiggy or Zomato. Effective January 1, food aggregators will have to collect and deposit tax at five per cent, as food vendors who are currently […]

New Delhi: GST revenue collected in December 2021 was over Rs 1.29 lakh crore, 13 per cent higher than the same month last year, the Finance Ministry said on Saturday. Though the collection was lower than Rs 1.31 lakh crore mopped up in November, December is the sixth month in a row when revenue from […]

Mumbai: GST Mumbai East Commissionerate of Mumbai Zone on Friday detected a GST evasion worth Rs 40.5 crores and recovered Rs 49.20 crores in cash pertaining to GST evaded, interest and penalty from the cryptocurrency exchange WazirX. As per a press release from the Commissionerate, the detection was made while investigating the business activities of the […]

Hyderabad: In a victory of sorts to Telangana, the GST Council has decided to defer the tax rate hike on textiles from 5 per cent to 12 per cent. The new GST rate on textiles was scheduled to be implemented from January 1, 2022. The hike to 12 per cent on the textiles met with […]

The decision to defer the GST rate hike on textiles was taken in the 46th GST Council meeting held in the national capital under the chairmanship of Union Finance Minister Nirmala Sitharaman.

Hyderabad: Textiles Minister KT Rama Rao on Thursday demanded that the union government withdraw its decision to increase GST on textile and handlooms sector. In a letter to union Finance Minister Nirmala Sitaraman, the Minister appealed to her to take up this proposal forward in the GST council meeting which will be chaired by her […]

Siddipet: Weavers Welfare Association, Siddipet, has demanded that the union government take back its decision to increase GST on textiles and handlooms from the existing 5 per cent to 12 per cent to save the weavers community. Weavers from the Siddipet district gathered at Finance Minister T Harish Rao’s house in Siddipet on Wednesday to […]

Nalgonda: Shop owners at SPT Market, the biggest textile market in the district, downed shutters on Tuesday and staged a dharna protesting against the Centre’s decision to hike GST on textiles to 12 per cent from the present five per cent. They participated in the protest demonstration under the aegis of Nalgonda District Cloth Merchants […]

New Delhi: Businessman Peeyush Jain, who has been arrested for evasion of Goods and Services Tax (GST), was a man of simplicity, according to locals in Kannauj, his hometown. He rides an LML scooter in the city and has been seen arriving at weddings and other functions wearing kurta-pyjamas with rubber slippers, said neighbours in […]

New Delhi: The India Cellular and Electronics Association (ICEA) said on Tuesday that it has written to various state chief ministers to reduce the GST rates on mobile phones to 12 per cent and on mobile parts and components to 5 per cent. The 12 per cent GST rate on mobile handsets had increased tax […]

Though there is a significant rebound in the economic activity following the lifting of pandemic-related restrictions, the expectations of a quick recovery must be tempered in tune with ground realities. While the big jump in the GST collections is a positive development, several parameters — inflation, unemployment, subdued private consumption and investment and a crippling […]

Such food delivery apps will now be required to collect 5 per cent GST, or Goods and Services Tax, from consumers instead of the restaurant they pick up orders from, Finance Minister Nirmala Sitharaman said on Friday.

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.

The ruling once highlights deep divide between the industry and revenue department over qualification of intermediary service.

In addition to this, the FKCCI demanded that the banks and financial institutions should not insist for additional collateral security while providing stimulus to other economic sectors such as garment, hospitality, education etc.

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