Tag: Goods and services tax

Need food, farm, fertilizer subsidy reforms to improve fiscal position: Finance Secretary T V Somanathan

Finance Secretary T V Somanathan on Tuesday underlined the need for improving the fiscal position of the government through reforms in farm, food and fertilizer...

GST collections drop to Rs 92,849 crore in June, break 8-month streak of crossing Rs 1 lakh crore

Goods and services tax collections for June grossed Rs 92,849 crore, dropping below Rs 1 lakh crore mark for the first time this year. Collections...

gst: A ‘Good & Simple Tax’? 4 years of GST and the road ahead

On the fourth anniversary of the introduction of Goods and Services Tax (GST) in India, on looking back to the journey so far, the reaction...

Raise states’ borrowing limits to 5 pc of GSDP sans condition, Bengal urges FM

The West Bengal government on Friday suggested to Union Finance Minister Nirmala Sitharaman that the borrowing limits of states be raised to 5 per cent...

GST shortfall situation becomes clearer, govt may have to borrow $22 billion more to pay states

India may need to borrow more for a second straight year to compensate its states for their revenue loss due to a shortfall in the...

Compliances under GST for NRIs

Self-assessment mechanism GST functions on the concept of ‘self-assessment’ by which every registered taxable entity shall itself determine the tax liability under GST law and...

GST registration requirements for NRIs

Goods and services tax (GST) was introduced in India to make compliances user-friendly and avoid multiplicity of taxes. It aims to promote digitalization and increase...

Centre acting ‘unilaterally’ on key issues, must uphold spirit of cooperative federalism: Hemant Soren | India News

NEW DELHI: Having been at loggerheads with the Modi government over several issues such as GST dues, Jharkhand chief minister Hemant Soren has accused the...

Approval of COVID vaccine lends strength to optimism on health, economic fronts: Finance Ministry report

New Delhi: Approval of the long-awaited COVID-19 vaccine provides strength to the optimism on health and economic fronts, the Finance Ministry said in its monthly...

6.03 crore GST e-invoices generated in December 2020

NEW DELHI: As many as 6.03 crore GST e-invoices were generated in December 2020, higher than 5.89 crore in November, according to an official release....

WTO to review India’s e-commerce and farm policies, digital tax next month

New Delhi: India may need to field queries on its agricultural and e-commerce policies in the trade policy review at World Trade Organization slated next...

Factory output up after 6 months; retail inflation hits 6-year high

In a mixed bag of economic indicators, India’s factory output expanded after a six-month gap in September as the economic recovery gathered pace. However, retail...

GST shortfall: Opposition-ruled states to ask for dispute resolution mechanism at Council meet

NEW DELHI: The Opposition-ruled states have decided to ask the Centre to put in place a dispute resolution mechanism to address the contentious issue of...

GST council needs to work out mid-way solution for settling revenue shortfall issue: Sushil Modi

NEW DELHI: The relation between the Centre and states is not that of ‘giver and taker’ and the GST Council will have to work out...

GST, I-T mop up in Q1 very encouraging, indicates economic recovery: Finance Secretary

Tax mop up in first quarter of the current fiscal is “very encouraging” and indicates that the economy is recovering sooner than what was anticipated...