GST Council | The Asian Age

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Finance minister Piyush Goyal indicated that Rupay Card and BHIM has been selected for the cashback incentives as it is used by common man or weaker section of the society.

GST Council gives nod to 20 per cent cashback on BHIM payment

Goyal said that software backbone for the incentive will be set up and then those states who are interested can launch the pilot project.

05 Aug 2018 4:40 AM

Rating agency Moody's on Monday said the recent GST rate cuts on 88 items will weigh on government's revenue collection and is ‘credit negative' as it will put pressure on efforts of fiscal consolidation. (Photo: AFP)

Recent GST rate cut credit negative, says rating agency Moody's

GST Council, last week cut tax rates on white goods as well as various handicrafts items and paints.

30 Jul 2018 11:54 AM

GST Council secretariat have been tasked to compile the suggestions and responses and send to the CBIC.

States to reach out to traders, industry to list out GST grievances

Council has already allowed companies with turnover of up to Rs 5 crore to file GST returns quarterly.

26 Jul 2018 12:28 PM

Thanks to the GST rate cut, consumer durables, which have been witnessing a slower growth for the past six quarters, are expected to return to double-digit growth with the sentiments improving during the festival season.

GST rate cut to boost consumer durables sales this festive season

The government also had reduced the GST rate of paints from 28 per cent to 18 per cent.

24 Jul 2018 12:54 PM

Shares of footwear, paint makers, consumer durables and FMCG companies surged up to 10 per cent on Monday after the GST Council reduced tax rates on a number of products.

Consumer durables, FMCG stocks surge up to 10 pc on GST rate cut

The GST Council on Saturday cut tax rates on 88 items, including footwear, refrigerator, washing machine and small screen TV.

23 Jul 2018 6:29 PM

The decision of GST rate cut would result in loss of income to the government to an extent of Rs 15,000 crore annually.

Govt revenue to drop by Rs 15,000 crore annually on GST rate cut

According to the interim finance minister Piyush Goyal, the revenue loss will be negligible.

23 Jul 2018 1:54 PM

India slashed the sales tax rate on over 50 products on Saturday in a move aimed at appealing to traders and the middle classes as Prime Minister Narendra Modi’s government eyes next year’s elections.

Govt cuts sales tax across sectors to ease pain of traders and consumers

Revenue collections from GST are a crucial pillar of government’s plan to cut its fiscal deficit.

22 Jul 2018 1:43 PM

Sanitary napkins were taxed 12 per cent under the one-year old GST regime, which attracted a lot of criticism from various quarters.

Sanitary napkins now exempted from GST

To promote tourism, now 28 per cent tax will be applicable only when the hotel bill is Rs 7,500 or above.

22 Jul 2018 2:02 AM

Delhi Deputy Chief Minister Manish Sisodia.

GST Council exempts sanitary napkins from taxation

The plea to exempt sanitary napkin from GST has been going on for a long time.

21 Jul 2018 6:30 PM

The all-powerful GST Council may this week consider bringing jet fuel (ATF) and natural gas under GST ambit but tax slab is acting as a deterrent, people familiar with the matter said.

GST Council may bring natural gas, jet fuel under GST this week

However, fitting the two products in the 5, 12, 18 and 28 per cent GST tax slabs is proving to be difficult.

15 Jul 2018 11:40 AM

Under the current e-way bill system the tax payer has to manually enter the distance between the two PIN codes.

GST council to simplify e-way bill mechanism for tax payers

The move is expected to bring more clarity in the system of bill generation.

13 Jul 2018 1:34 PM

The proceeds from the proposed levy, estimated at Rs 6,700 crore, would have flown into a separate fund to be utilised for interventions in the sugar sector and for cane farmers.

Govt mulls 1 per cent cess on luxury items to build farm corpus

Seeks legal view on option; proposal to levy 1 per cent sugar cess scrapped.

12 Jul 2018 10:02 AM

The average monthly collection was Rs 89,885 crore.

GST Council to consider rate cut on items with low revenue impact on Jul 21

Government earned Rs 7.41 lakh crore from the tax since its roll out in July.

11 Jul 2018 4:11 PM

The problems started right from how the GST rates should be apportioned between the Centre and the states.

GST marks federal nature of Indian Constitution

The powers of the Centre and the states were clearly demarcated.

01 Jul 2018 12:01 AM

The GST Council could consider bringing natural gas within the purview of Goods and Services Tax in its next meeting, an official said on Friday.

Council to discuss bringing natural gas under GST in next meeting

Dheeraj Rastogi said aviation turbine fuel would be another petroleum product that could also be brought within the GST.

08 Jun 2018 3:41 PM

Pitching for inclusion of Aviation Turbine Fuel (ATF) in the Goods and Services Tax (GST) regime, Union Minister Suresh Prabhu said the move will help cut the cost as airlines would get input tax credit.

Inclusion of ATF under GST to help airlines cut cost, says Prabhu

There is a demand from airlines for inclusion of Aviation Turbine Fuel in the new indirect tax regime.

27 May 2018 12:04 PM

Bihar Deputy Chief Minister Sushil Kumar Modi said, 'It is a big misconception that price of petroleum products will be reduced significantly if they are brought under GST ambit.' (Photo: File/PTI)

GST on petroleum products will not control prices: Bihar Dy CM

He said that the issue of whether or not to include petroleum products under GST will be decided by the GST Council.

27 May 2018 10:32 AM

Fuel should be brought under GST; it will reduce prices: CM Fadnavis

The centre in June last year junked the 15-year old practice of revising rates every fortnight, and introduced daily revisions.

25 May 2018 5:53 AM

Fuel prices will come down once the Centre builds a consensus to bring petrol and diesel under the Goods and Services Tax (GST), Maharashtra Chief Minister Devendra Fadnavis said on Thursday.

Bringing petrol, diesel under GST will lower prices, says Fadnavis

The central government levies Rs 19.48 excise duty on a litre of petrol and Rs 15.33 on diesel.

24 May 2018 2:41 PM

The e-way bill for moving goods within a state will become mandatory from June 3, with the country-wide roll out of the mechanism.

Country-wide intra-state e-way bill system mandatory from June 3

Since the implementation of the same from April 1, 2018, more than 4.5 crore e-way bills have been generated.

22 May 2018 7:23 PM

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Mohan Guruswamy