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According to sources in the finance department, the GST collection was not expected to be so high and hence it had asked the Centre for a compensation of Rs 6500 crore.

Business

GST Council's next meet on Oct 6, relief for exporters may be on cards

The meeting was scheduled to be held on October 24 but was preponed in view of the engagements following Diwali...

19 Sept 2017 7:22 PM IST

Economic Survey listed challenges to GDP growth like appreciation of the rupee, farm loan waivers, rising stress on balance sheets in power as well as telecom and problems from GST transition. (Representational Image)

Business

Govt plans to bring smaller traders in GST net via simpler compliance...

As of now, the threshold limit for traders to compulsorily register under GST is an annual turnover of Rs 20 lakh.

19 Sept 2017 2:05 PM IST

Business

India eyes spending cuts as glitches in GST hit revenue

Economic growth, could take a further hit if the public spending that largely underpinned expansion were to be slashed.

18 Sept 2017 8:22 PM IST

Petroleum Minister Dharmenda Pradhan on Wednesday defended the daily price revision mechanism calling it rational and transparent.

Business

Petrol prices should be brought under GST: Dharmendra Pradhan

As of now, petrol prices contain other elements like Centre-imposed excise duty, state-imposed VAT and dealer's...

18 Sept 2017 5:50 PM IST

Business

Govt urges taxpayers to file GST returns n time to avoid portal crash

A group of ministers, headed by Sushil Modi met in Bengaluru to discuss the technical rollout of GST.

16 Sept 2017 8:04 PM IST

$\The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant increase in selling price of petrol and decrease in selling prices of diesel.$ Business

Petrol, diesel prices at 3-year high: Why rates may go down under GST

It has been noted that ever since rollout of dynamic pricing system, prices of petrol rose by as much as Rs. 4.92-7.21...

15 Sept 2017 11:14 AM IST

Business

Honda hikes car prices by up to Rs 89,069 to pass on GST cess

The company has increased the price of its mid-sized sedan City between Rs 7,003 and Rs 18,791 depending on various...

14 Sept 2017 5:31 PM IST

Business

M&M, Audi, Mercedes Benz plan to pass on cess hike on cars to...

The companies said the constant changes in rates could lead to market instability and affect demand growth trends.

10 Sept 2017 7:03 PM IST

The GST Council cleared nil rate on live asses, mules and hinnies while placing live horses under the 12 per cent bracket.

Business

GST cess hike on luxury, mid-sized cars to take effect tomorrow

The GST Council on September 9 decided to hike cess on mid-sized cars by 2 per cent, taking the effective GST rate to 45...

10 Sept 2017 6:34 PM IST

Healthcare services such as dialysis, pacemaker implantation, support devices in orthopaedics and cancer treatment could be costlier under GST.

Business

Idli dosa batter to raincoats - 40 things to cost less under GST now

The rate revision in these 40 items followed after the fitment committee noticed anomalies in GST levied in these...

10 Sept 2017 2:32 PM IST

Earlier, the government had fixed August 20 as the last date for filing GSTR-3B forms for July. (Photo: File/Representational)

Business

GST returns filing date further relaxed till Oct 10

Filing of GSTR-2 for July will have to be done by October 31, and GSTR-3 by November 10.

10 Sept 2017 11:24 AM IST

Defence Minister Arun Jaitley said the country faced two serious threats one in Jammu & Kashmir and second being problem of Left-Wing Extremism in central India. (Photo: PTI)

Business

FinMin to start work on Union Budget 2018-19 next week

This Union Budget will be India's first post-GST Budget and will not be concerned with service and excise levies.

10 Sept 2017 11:03 AM IST