Tag: gst

Govt’s excise collection jumps 48% in April-July; already 3x of full fiscal oil bond liability

The government’s collections from levy of excise duty on petroleum products have jumped 48 per cent in the first four months of the current fiscal...

bibek debroy: I expect real growth to be at least 11% this year: Bibek Debroy

Edited excerpts from an email interview with Bibek Debroy, chairman of the Economic Advisory Council to the PM: What’s your outlook for the current fiscal?...

We are not blind to the challenges ordinary family in India faces in having to pay so much for fuel: Nirmala Sitharaman

India is ideally placed to attract businesses looking to move out of China, finance minister Nirmala Sitharaman said in an interview to Deepshikha Sikarwar and...

75 years of independence: What India needs to do to fulfill its tryst with destiny

On August 15, 1947, Jawaharlal Nehru declared India’s Independence with his ‘tryst with destiny’ speech. As India enters the 75th year as a free country,...

View: e-RUPI will ensure leak-proof DBT delivery, bridge divides

The e-RUPI vouchers that Prime Minister Narendra Modi launched recently is an important initiative of his government. It will ensure transfer of benefits in a...

GST collections for July record Rs 1.16 lakh crore

Gross goods and service tax (GST) revenue collected in July stood at Rs 1,16,393 crore showing a revived uptrend in business activity and economy during...

Govt set to overshoot FY22 tax collection target as Q1 mop-up reaches Rs 5.6 lakh cr: Icra

With the first quarter gross tax mop-up reaching Rs 5.6 lakh crore, Ratings on Friday said the government is set to exceed the budgeted tax...

View: As the GST enters its fifth year, here’re the challenges ahead

With the goods and services tax (GST) entering its fifth year, there have been strident voices from some states about its very structure and design,...

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...

NAA directs GST field units to collect evidence against suppliers not passing GST rate cut benefits on Covid items to customers

The National Anti-Profiteering Authority has directed all goods and service tax field units to collect evidence against suppliers that do not pass on benefits of...

Centre’s FY22 GST compensation amount should be higher than projected Rs 1.58 lakh crore: Opp-ruled states

The compensation amount promised by the Centre is estimated to be higher than the Rs 1.58 lakh crore projected by the Centre, and a special...

Industry hails late-fee relief for GST non-filers, demands zero tax rate on med devices, health services

Industry chambers on Saturday said the GST amnesty of reducing late fees for delayed monthly return filing will provide some relief to small taxpayers, and...

FY’22 GST compensation shortfall estimated at Rs 2.69 lakh crore

The shortfall in GST compensation payable to states in the current fiscal is estimated at Rs 2.69 lakh crore, of which Rs 1.58 lakh crore...

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...

Aligarh’s lock industry hit hard by lockdowns, seeks urgent help

The Aligarh lock industry which employs nearly 1.5 lakh skilled and unskilled workers has demanded prompt steps from the Yogi Adityanath government for its “revival”...

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...

Congress says govt’s new policy will lead to multiple prices of vaccines, shortchange poorer states | India News

NEW DELHI: Slamming the new vaccine policy as “the Modi government abdicating its responsibility in the garb of giving more powers to states”, Congress Tuesday...

Covid has hit with fury; despite a year to prepare, we were caught off guard again: Sonia Gandhi | India News

NEW DELHI: Accusing the Modi government of “gross unpreparedness” and “adhocism” in dealing with the Covid-19 crisis, Congress president Sonia Gandhi on Saturday made a...

GST collections to drop 20% in May due to state lockdown-like curfews, say experts

Goods and service tax (GST) collections could see a dip of 10-20% in May as Maharashtra – the largest state contributor to GST – and...

ipo listings: Be careful while buying a stock on its listing day: Raamdeo Agrawal

Digital investing will start here and one has to look forward to it. We will also participate but it depends on company to company, says...

GST evasion: CBIC asks field offices to exercise maximum caution, prudence in property attachment

The CBIC has directed its field offices to exercise utmost prudence and maximum caution in attachment of property of a taxpayer and said that such...

High frequency indicators point to recovery: RBI

All high frequency indicators point to a recovery based on a revival of consumption, but private investment is lagging despite a growth promoting budget, according...