News Updates
Revenue shortfall may limit the scope of GST rate cuts - Livemint
Revenue shortfall may limit the scope of GST rate cutsNew Delhi: The rising gap between goods and services tax (GST) targets and actual revenue collections may limit the scope for large-scale rate cuts, with states favouring stabilization in revenues before any further rate reduction. As a result, the ...Significant budget cuts likelyThe Star Onlineall 3 news articles »
India's advantages far outweigh macro fears: Jamie Dimon, JPMorgan, CEO - Economic Times
India's advantages far outweigh macro fears: Jamie Dimon, JPMorgan, CEOIndia's world beating economic growth and critical reforms such as GST and the first step in bank mergers are advantages that far outweigh fears arising out of macroeconomic imbalances and a sliding currency, Jamie Dimon, JPMorgan chief executive, has ...
GST compliance must for govt contractors, suppliers - Times of India
NYOOOZGST compliance must for govt contractors, suppliersPanaji: All contractors and equipment suppliers which deal with government departments will now have to register on the Goods and Services Tax (GST) portal and file their returns to continue doing business with the state government, the state finance ...Govt tightens the screws on contractors evading GSTThe Navhind TimesIndia: New Form for GST Annual ReturnsLexologyall 5 news articles »
GST profiteering: NAA asks Pyramid Infratech to refund Rs 8.22 crore to homebuyers - The Indian Express
GST profiteering: NAA asks Pyramid Infratech to refund Rs 8.22 crore to homebuyersDetermining profiteering for the second time under the goods and services tax (GST) regime, the National Anti-Profiteering Authority (NAA) has ordered Gurgaon-based Pyramid Infratech to refund over Rs 8.22 crore to 2,476 flat owners. The order, dated ...Watchdog comes to homebuyers' rescue, asks builder to pass on GST benefitsBusiness StandardWatchdog penalises builder for not passing GST benefit to homebuyersTimes of IndiaIn cheer for homebuyers, anti-profiteering body asks Pyramid Infratech to pass on GST benefitsLivemintFinancial Express -Moneycontrol.comall 19 news articles »
Foreign ecommerce companies rush to register for GST in all states - Economic Times
Foreign ecommerce companies rush to register for GST in all statesUnder the provisions, notified entities have to deduct up to 1% state GST and 1% central GST on intrastate supplies of over Rs 2.5 lakh. In the case of interstate supplies of over Rs 2.5 lakh, TDS will be 2% integrated GST. These provisions are aimed ...
GST: Noose around neck of tax evaders may tighten further - Daily Pioneer
SwarajyaGST: Noose around neck of tax evaders may tighten furtherThe two proposals, which are in the draft stage, are to be placed before the GST Council soon. At the heart of the first proposal is the recognition that the invoice – which validates every sale of goods or of a service – is the main document in any ...Filing GST Returns Will Be A Thing Of The Past If These Radical Proposals Are Implemented By The GovernmentSwarajyaScreening committee to check on GST profiteers constituted in NagalandEastern Mirrorall 3 news articles »
Clear GST arrears, says OPS - The Hindu
Clear GST arrears, says OPSSpeaking at the meeting, Deputy Chief Minister O. Panneerselvam requested that the dues be cleared at the earliest. “There are shortfalls in settlement of amounts due to Tamil Nadu in GST. The government of Tamil Nadu is yet to receive over ₹4,000 ...and more »
IIMs' executive post-graduate programmes to face GST - Economic Times
Economic TimesIIMs' executive post-Economic TimesThe MP AAR held that the Executive Post-Graduate Programme in management is taxable under GST. Under GST, services provided by an educational institution are exempt from tax. Under the GST law, educational institutions include those providing ...No GST exemption for Executive PG programme at IIM, rules AARThe Hindu BusinessLineall 2 news articles »
Radical invoicing proposal could do away with GST returns chore - The Hindu BusinessLine
Radical invoicing proposal could do away with GST returns choreThe first suggestion relates to business-to-business (B2B) transactions and could make compliance simple; the second relates to business-to-consumer (B2C) transactions and will ensure that the final seller of goods or of a service actually pays the GST ...
GST can do a lot without troubling taxpayers - The Hindu BusinessLine
GST can do a lot without troubling taxpayersThe government puts the average monthly GST collections in the last financial year at ₹89,885 crore, way below the informal target of ₹1 lakh crore. The two proposals of the 'Committee on Invoice' — giving 'distinct invoice number' (DIN) to every ...