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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.

Drug pricing regulator says companies must pass on the benefit to customers.

Union Finance Minister Nirmala Sitharam responded positively and assured to consider the suggestion from Telangana State

Tax on medical grade oxygen, oxygen concentrators, ventilators, BiPAP machines and high flow nasal cannula (HFNC) devices has been cut to 5 per cent from 12 per cent.

The Council will discuss the report of the Group of Ministers, headed by Meghalaya Deputy Chief Minister Conrad Sangma, on GST concessions on relief items.

The Council, which has state ministers as members, a Group of Ministers (GoM) was set up to recommend tax relief on Covid essentials.

Contrary to the narrative being advanced by the NDA govt, GDP growth has been a point of growing weakness for the last five years

Increase FRBM limitations from 3 to 5%: Harish

Besides discussion on tax rates, the Council may also deliberate on the estimated Rs 2.69 lakh crore that states need to be provided as per the promise in 2017.

The Council has set five-point terms of reference for the GoM which will include examining the legal validity of such changes (manufacturing capacity based taxation and new composition scheme).

The Kerala AAR ruling came on an application made by a service provider, HV Azeez.