GOODS AND SERVICES TAX GST REFORM
GST Council Meeting: Press Conference by Union Finance Minister Nirmala Sitharaman | Live
The 55th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major componen...
FM Sitharaman addresses controversy over Gadkari's letter for removal of GST on health insurance in Rajya Sabha
On August 8, 2024, Union Finance Minister Nirmala Sitharaman addressed the Rajya Sabha and mentioned that a letter from Transport Minister Nitin Gadkari requesting the removal of the 18% Goods and Services Tax (GST) on health and life insu...
6 years of GST: Here are some hits and misses of India's indirect tax reform
India's introduction of the Goods and Services Tax (GST) marked a significant milestone in the country's taxation history. The tax base has more than doubled since its implementation in 2017, with revenues experiencing substantial growth. However, there is still room for mo...
6 years of GST: Here are some hits and misses of India's indirect tax reform
India's introduction of the Goods and Services Tax (GST) marked a significant milestone in the country's taxation history. The tax base has more than doubled since its implementation in 2017, with revenues experiencing substantial growth. However, there is still room for mo...
6 years of GST: Here are some hits and misses of India's indirect tax reform
India's introduction of the Goods and Services Tax (GST) marked a significant milestone in the country's taxation history. The tax base has more than doubled since its implementation in 2017, with revenues experiencing substantial growth. However, there is still room for mo...
GST meeting key announcements: Millet products and Molasses see significant tax rate cuts
The Goods and Services Tax (GST) Council in India has decided to reduce the GST on millet flour in powder form from 18% to 5%. The move aims to make nutritious food items more accessible to the public. The council also exempted alcohol for human consumption fro...
GST collections rise 15 per cent to Rs 1.67 lakh cr in November
GST collections surged by 15 percent to reach Rs 1.67 lakh crore in November, the Finance Ministry announced today. Goods and Services Tax (GST) mop-up was over Rs 1.45 lakh crore in November 2022. The November 2023 collections are, however, lower than Rs 1.72 lakh crore mopped up in Oc
GST collections in October jump 13% YoY to Rs 1.72 lakh cr, second highest-ever
GST collections increased 13 per cent to Rs 1.72 lakh crore in October, the second highest-ever, helped by momentum in the economy, efforts of taxmen in checking evasion and festive demand. "GST revenue collection for October 2023 is second highest ever, next only to Apr
ET MSME Day 2023: From GST to Customs, has India's indirect tax reforms paid off?
India has undertaken a slew of reforms that were supposed to remove structural rigidities, expand government revenue, improve ease of doing business and target the informal sector. The centerpiece of such reforms was the introduction of Goods and Services Tax (GST) in
GST Council Meet key takeaways: 28% GST on online gaming; food at Cinemas to get cheaper and more
The Goods and Services Tax (GST) Council on Tuesday decided to impose a 28 per cent tax on the turnover of online gaming companies, horse racing and casinos. The panel, headed by the Union finance minister and comprising of representatives of all states
52nd GST Council Meeting: Press Conference by Finance Minister Nirmala Sitharaman | LIVE
Live Coverage of Union Finance Minister Nirmala Sitharaman's Press Conference during the 52nd GST Council Meeting.52nd GST Council Meeting: Press Conference by Finance Minister Nirmala Sitharaman | LIVE
GST has done justice to consumers by bringing rates down, says FM Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman addressed the gathering at the GST Day event that was celebrated on the 6th anniversary of the GST regime. At the event, FM Nirmala Sitharaman asserted that GST has brought in greater tax buoyancy, as a result of which tax c
28% GST on online gaming: Revenue secretary says Council decision will not hugely impact the industry
India's decision to impose a 28% tax on funds that online gaming companies collect from their customers, will not need further consultation and an early review is unlikely, revenue secretary Sanjay Malhotra told ET Now on Wednesday. The government's
GST evasion: FM Nirmala Sitharaman chairs review meeting on fake bills
Finance Minister Nirmala Sitharaman chaired a review meeting of the ongoing drive against fake billing for GST evasion in New Delhi on June 16. The Minister has asked the officials to strengthen the Goods and Service Tax (GST) registration process by leveraging technology to curb
GST evasion: FM Nirmala Sitharaman chairs review meeting on fake bills
Finance Minister Nirmala Sitharaman chaired a review meeting of the ongoing drive against fake billing for GST evasion in New Delhi on June 16. The Minister has asked the officials to strengthen the Goods and Service Tax (GST) registration process by leveraging technology to curb
GST evasion: FM Nirmala Sitharaman chairs review meeting on fake bills
Finance Minister Nirmala Sitharaman chaired a review meeting of the ongoing drive against fake billing for GST evasion in New Delhi on June 16. The Minister has asked the officials to strengthen the Goods and Service Tax (GST) registration process by leveraging technology to curb
Setting up GST appellate tribunal need of the hour: Smita Singh, S&A Law
The Goods and Services Tax (GST) was introduced with a stated objective to rationalise the indirect tax ecosystem of India by creating a common national market for goods and services. Close to six years since its introduction we have seen a plethora of changes. Smita Singh, Par
GST mop-up in March at Rs 1.60 lakh cr 2nd highest ever; FY23 collections stand at Rs 18.10 lakh cr
GST collections in March grew 13 per cent to the second highest ever at Rs 1.60 lakh crore, taking the growth rate of revenue mop-up for full 2022-23 fiscal to 22 per cent. In April 2022, GST collection had touched a record high of close to Rs 1.68 la
Petroleum and gas can be brought under GST ambit, if states agree, says FM Sitharaman
Finance Minister Nirmala Sitharaman on Wednesday said that should the states agree, petroleum and gas under the ambit of Goods and Services Tax (GST). "Once the states agree, we will have petroleum products in the GST," she said.Petroleum and gas can be brought und
Govt mulls star rating system under GST to curb illegal Input Tax Credit
Government mulls star rating system under GST to avoid misuse of the input tax credit. ET NOW's Meghna Mitta joins in with details.Govt mulls star rating system under GST to curb illegal Input Tax Credit
GST collection at Rs 1.52 lakh crore in October, second highest ever
GST revenues registered the second-highest collection ever at Rs 1.52 lakh crore in October, reflecting a pick-up in economic activity in the festive season. The collections in October this year recorded a 16.6 per cent rise over Rs 1.30 lakh crore collected in the same month last
5% GST on hospital room: What it means for your bill?
In the 47th meeting of the Goods and Services Tax (GST) Council, held on June 28-29, 2022, it was decided that 5% GST will be levied on non-ICU hospital rooms with room rent above Rs 5,000 per day. The 5% GST on these hospital rooms will come into effect from July 18, 2022. The GST Council made t
September GST collections: Gross revenue crosses Rs 1.4 lakh cr mark for the 7th month in a row
The gross revenue from goods and services tax (GST) surged by 26 per cent year-on-year to Rs 1,47,686 crore in September 2022, as per the government data released on Saturday. According to the data released by the Union Ministry of Finance, the gross GST
Opposition misguiding nation about GST on crematorium services: FM clarifies in LS
Clarifying her stand during the monsoon session of the Parliament, FM Sitharaman assured the Lok Sabha that funeral, cremation, burial, or mortuary services are fully exempt from GST. However, she added that the raw material needed for construction of a new crematoriu
Way Centre is opposing free facilities, something seems wrong with its finances: Arvind Kejriwal
There seems to be something wrong with the Centre's finances the way it is "strongly opposing" free facilities for people, Delhi Chief Minister Arvind Kejriwal said on Thursday. Citing the Agnipath defence recruitment scheme, reduction in states share in
GST verdict: SC ruling may change 'one nation, one tax' concept
On Thursday, the Supreme Court ruled that GST on ocean freight paid in case of import of goods is unconstitutional. While the ruling in the case of ocean freight is set to give relief to several Indian companies, it could also change the way the Goods and Services Tax (GST) framework op
GST 4th Anniversary: Hits and misses of the 'One Nation, One Tax' regime
Considered the largest indirect tax reform in the history of India, the Goods and Service Tax regime completed four years today. Here are some hits and misses of the tax regime in last 4 years...GST 4th Anniversary: Hits and misses of the 'One Nation, One Tax' regime
5% GST on pre-packed, labelled flour, pulses of less than 25kg, curd less than 25 ltr
A 5 per cent GST rate on Monday kicked in on pre-packed and labelled food items such as cereals, pulses and flour weighing less than 25 kg. The Union Finance Ministry issued detailed frequently asked questions (FAQs) on the levy of Goods and Services Tax (GST) on f
GST Council recommendations are not binding on Centre and state govts: Supreme Court rules
In a significant verdict, the Supreme Court today ruled that recommendations of the GST Council isn't binding on Centre and States. It only has a persuasive value. A bench led by Justice DY Chandrachud held that the Central government and States have simultane
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