GST | The Asian Age

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States to test GST cashback for payments via Rupay, BHIM app

Customers making payments using Rupay card and BHIM UPI, would get a cashback of 20 per cent of the total GST amount.

04 Aug 2018 5:23 PM

Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry.

GST slabs may reduce to 3 in long-term: Sanjeev Sanyal

Presently, there are four GST slabs of 5, 12, 18 and 28 per cent, plus the exempted category which attracts 0 per cent GST.

04 Aug 2018 4:13 PM

Section 24 of the CGST Act requires companies with below Rs 20 lakh annual turnover to register in the new indirect tax system. (Photo: PTI)

Small traders to be exempt from GST registration

The facility may also be extended to micro firms that make inter-state supply.

31 Jul 2018 9:18 AM

On 27 July, India’s new lower GST rates on consumer goods ranging from footwear to washing machines took effect.

Moody’s: GST cut is credit negative

Shortfall in tax revenue to be partly offset by improved tax compliance.

31 Jul 2018 1:51 AM

Slamming the government's economic measures like demonetisation and Goods and Service Tax in its four years and two months of existence, he said 'we are now worried what will happen in the next eight months.' (Photo: PTI)

Centre 'incompetent' in terms of economic management: P Chidambaram

P Chidambaram alleged that there has been a dip in country's growth rate over the years due to lesser investment and lower lending by banks.

30 Jul 2018 8:33 AM

Truckers were also miffed at high insurance premia and wanted a reduction in third-party premium, exemption on third-party premia from GST. (Photo: PTI)

Truck operators end week-long strike as Centre vows to consider demands

All India Motor Transport Congress started nationwide indefinite strike on July 20 demanding reduction taxes.

27 Jul 2018 9:47 PM

The reduced prices, on applicable products, are effective from today.

Samsung cuts prices to pass on GST reduction on electronic items

Last week, the GST Council brought down tax rates to 18 per cent from 28 per cent on 15 items.

27 Jul 2018 1:58 PM

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

The Goods and Services Council reduced the previous 12% GST on these products to the present 0%.

No tax on bleeding

The transition of sanitary napkins from being taxed as a luxury item to one of basic necessity is still just the first step.

24 Jul 2018 12:08 AM

'GST Council cuts tax rate on an array of products. Rakhis have been exempted from GST, tax on ethanol has been cut to 5 per cent, small handicrafts have been exempted,' Goyal said. (Photo: PTI)

Modi govt slashes GST rate on several products: Here're details

Among items on which GST was reduced include footwear, small televisions, refrigerators, hair dryers, food appliances.

21 Jul 2018 7:57 PM

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

For FY19, states are hoping for a 0.2 per cent revenue surplus as against a revenue deficit of 0.4 per cent as per the revised estimates.

States fail to meet fiscal targets for third year: RBI

Decline in states’ tax revenues is essentially associated with pending accounting issues related to GST implementation.

13 Jul 2018 9:06 AM

RBI flags states slipping on fiscal deficit

At a country-wide level, farm loan waivers alone contributed to a third of the overall slippage worries.

13 Jul 2018 12:47 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

India’s economy rebounded strongly from July 2017, after several quarters of slowdown blamed on economic policies pursued by PM Narendra Modi’s govt. (Representational Image)

India beats France to become world’s sixth largest economy

India’s GDP amounted to USD 2.597 trillion at the end of 2017, against USD 2.582 trillion for France.

11 Jul 2018 1:57 PM

Finance Secretary Hasmukh Adhia. (Photo: File)

Petroleum products to be brought under GST in stages: Adhia

Currently, diesel, petrol, crude oil, natural gas and aviation turbine fuel are outside the purview of GST.

06 Jul 2018 3:30 PM

Bug in telco’s system: Cops yet to make arrests

Firm incurred heavy losses as essential operations were hampered.

05 Jul 2018 3:51 AM

The GST was controversial because of the high and multiple rates imposed on the businesses and the consumers, but the hope was that it would make tax collection easier and evasion more difficult.

Govt giving false hopes on economy

The government’s actions are around creating a feel good tactic rather than a serious economic effort.

05 Jul 2018 12:23 AM

Both economists and politicians suggested 18 per cent as the highest rate, as 28 per cent is far too high for a country that’s already heavily taxed, both direct and indirect.

GST: It’s time to see reason

GST is likely to have fetched at least Rs 1 lakh crores in excess of the anticipated Rs 1 lakh crore per month average collection in its first year.

03 Jul 2018 5:30 AM

While the obvious impact of GST is ease of doing business coupled with the increase in indirect tax collection through greater compliance, the macro fallout has been far greater.

Higher tax mop up due to reforms

Statistics available in the public domain suggest that the tax-payer base has widened by 26 per cent in FY 18 compared to the previous year.

02 Jul 2018 12:25 AM

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Syed Ata Hasnain