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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.

'GST Council to continue rationalising rates, 28 per cent slab to be...

The Goods and Services Tax (GST) has a four-tier structure of 5, 12, 18 and 28 per cent.

7 Oct 2017 7:33 PM IST

GST Council on Friday including textile reduced tax rate on as many as 27 items ahead of Diwali.

Textile industry welcomes reduction in GST on man made fibre yarn

Industry says higher GST rate was creating a huge inverted duty problem for synthetic sector.

7 Oct 2017 5:37 PM IST

Revenue Secretary Hasmukh Adhia with Finance Minister Arun Jaitley at a GST Council meet. (Photo: File/PTI)

GST Council will resolve other issues too: MoS Finance

GST Council on Friday raised composition scheme threshold for businesses to Rs 1 crore.

7 Oct 2017 4:33 PM IST

The government is working to regulate and reduce the portion of food offered in star hotels and restaurants to reduce wastage of food. Is that a good idea?

Group of ministers to review GST on restaurants

A group of ministers will examine if the tax liability can be reduced and an alternate structure can be put in place.

7 Oct 2017 3:06 PM IST

From unbranded namkeen to ICDS food packets, the GST Council on Friday tweaked the rates for 27 items. Photo: PTI

Find out what got cheaper after GST Council tweaked rates of items

The GST Council headed by Finance Minister Arun Jaitley tweaked the GST rates for 27 items.

7 Oct 2017 2:12 PM IST

Prime Minister Narendra Modi has accepted there was a slowdown in economy but also said it was temporary. (Photo: PTI)

Modi says changes have made GST 'even simpler'

GST Council on Friday gave relief to small and medium businesses on filing and payment of taxes.

7 Oct 2017 12:23 PM IST

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

Goa hit by GST as state's tax collection dips 22 per cent

The state government expects the GST to stabilise from January 2018 onwards.

7 Oct 2017 10:36 AM IST

Congress Vice President Rahul Gandhi addresses an election rally in favour of party candidate Ajay Rai in Varanasi. (Photo: PTI)

Bring fuel under GST regime, says Congress

Rahul also said that Prime Minister Narendra Modi should not view the new tax reform to further electoral interests.

7 Oct 2017 2:58 AM IST

Union Finance Minister Arun Jaitley addressing media after the 22nd meeting of the Goods and Services Tax (GST) Council, in New Delhi. (Photo: PTI)

Relief for small and medium enterprises, 27 items cheaper

Prime Minister Narendra Modi welcomed the steps announced on Friday and said the GST has become even simpler after GST...

7 Oct 2017 1:38 AM IST

Finance minister Arun Jaitley listens to chief economic advisor Arvind Subramaniam as MoS (finance) Shiv Pratap Shukla looks on at the 22nd meeting of the GST council in New Delhi. (Photo: PTI)

GST Council's decisions will help SMEs: India Inc

Delay in reverse charge will boost SMEs' businesses.

7 Oct 2017 1:02 AM IST

Union Minister for Finance, Defence and Corporate Affairs, Arun Jaitley briefs a press conference after a Cabinet meeting in New Delhi. (Photo: AP)

GST council announces e-wallet for exporters, alters rates for 27...

The e-wallets will provide exporters the funds to pay the tax without choking liquidity.

6 Oct 2017 8:47 PM IST

Finance minister Arun Jaitley at the 21st GST Council meet in Hyderabad on Saturday. (Photo: PTI)

GST Council raises composition scheme threshold for firms

The Council reached a consensus to raise the composition threshold on companies with a turnover of up to Rs 1 crore.

6 Oct 2017 4:18 PM IST