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Nirmala Sitharaman said the governments efforts last time were thwarted by the poor numbers in the Upper House. (Photo: File)

Budget 2020: FinMin seeks suggestions for rationalising income tax,...

The move is estimated to result in Rs 1.45 lakh crore in revenue loss for the government during 2019-20.

13 Nov 2019 3:09 PM IST

Under GST (Compensation to States) Act, if a states GST revenue does not grow by at least 14 per cent over the base year of 2015-16, the Centre has to pay it the difference every two months.

GST Council to set up grievance redressal mechanism for taxpayers

The committee will meet once every quarter or more frequently as decided by the co-chairs.

26 Dec 2019 11:47 AM IST

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)

GST Council fixes 28 per cent uniform tax rate for lottery

The panel also relaxed levy of penalty for non-filing of GSTR-1 from July 2017.

19 Dec 2019 9:17 AM IST

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)

GST Council votes first time, sets 28 per cent rate on all lotteries

The panel voted in favour of a single GST rate of 28 per cent for lotteries.

19 Dec 2019 6:22 AM IST

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)

GST Council to review revenue position, compensation cess on Dec 18

The meeting of all-powerful GST Council is going to be held against the backdrop of lower-than-expected GST collection.

4 Dec 2019 6:53 PM IST

Government had failed to receive its share of the Goods and Services Tax (GST) dues of Rs 1600 crore from the Centre. (Photo: DC)

GST Council to review GST revenue position, compensation cess

The meeting of all powerful GST Council is expected to take place in the second half of this month to deliberate on a...

3 Dec 2019 7:37 PM IST

Fiscal deficit for the financial year 2016-17 is budgeted at 3.5 per cent.

North Block finds ways to meet deficit target

As per 2018-19 budget projections, the Centre is likely to finance Rs 75,000 crore of fiscal deficit from small savings.

30 Jan 2019 10:30 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 exemption limit doubled to Rs 40 lakh

GST Council allows Kerala to impose 1 per cent cess on intra-state sales for up to 2 years.

11 Jan 2019 1:11 AM IST

The Mumbai zone of the Central GST Commissionerate has mopped up revenue of Rs 72,509 crore till February this year, tax officials said.

GST exemption limit doubled to give relief to small businesses

GST Council hikes annual turnover for availing composition scheme to Rs 1.5 crore from Rs 1 crore.

10 Jan 2019 4:00 PM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

1 per cent extra cess in calamity-hit Kerala okayed

Kerala had asked the GST Council for levying cess to fund rehabilitation work.

7 Jan 2019 6:17 AM IST

The Mumbai zone of the Central GST Commissionerate has mopped up revenue of Rs 72,509 crore till February this year, tax officials said.

Ministerial panels on GST relief to MSMEs, levy of calamity cess to...

The decisions of the two ministerial panels would be placed before the GST Council when it meets next on January 10.

5 Jan 2019 3:21 PM IST

The government is considering converting GST Network- which is handling the IT infrastructure of the new indirect tax regime - into a state-owned company, an official source said.

GST relief for MSMEs, homebuyers on the cards

GST Council will consider lowering tax rates on under-construction flats to 5 pc from 12 pc to give a boost to the...

3 Jan 2019 10:29 AM IST