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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.

FinMin dispels concerns over high GST transition credit

Over 46 lakh businesses have paid taxes to the tune of Rs 95,000 crore in July.

22 Sep 2017 11:36 AM GMT

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

Rs 65,000 crore GST credit: CBEC scans high-value claims

GST, which kicked in from July 1, allows tax credit on stock purchased during previous tax regime.

16 Sep 2017 6:04 AM GMT

Finance Minister Arun Jaitley said, Government had announced in the budget that consolidation of banks was also in our agenda and the first step has been announced. (Photo: Twitter | ANI)

FinMin extends deadline to file GST returns

With this extension, businesses which wish to claim Input Tax Credit (ITC) benefit for July 2017-March 2018 period can...

21 Oct 2018 6:45 PM GMT

Taxpayers who could not submit transitional credit form Tran-1 on the GSTN portal due to technical glitches now has time till April 30 to complete the process, the finance ministry said on Wednesday.

Finance Ministry extends deadline for filing Sept GST returns to...

With this extension, businesses which wish to claim ITC benefit for July 2017-March 2018 period can do so till October...

21 Oct 2018 7:29 AM GMT

Businesses availing trasnitional credit can file GST returns till August 28. Photo: Twitter| @GSTN_IT

Taxpayers can check return filing status of suppliers on GSTN portal

Once GSTIN is inserted in system, it would show taxpayer details like legal name, status (active or cancelled),...

24 Feb 2018 6:56 AM GMT

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.

Food, drinks in educational institutions to attract 5 per cent GST

Food and beverages distributed at educational institutions would be subject to Goods and Services Tax (GST) of 5 per...

12 April 2018 10:45 AM GMT

In the previous meeting on February 24, the council had slashed tax rates for under-construction flats to 5 per cent from 12 per cent and affordable homes to 1 per cent from 8 per cent, effective from April 1.

Flexible GST rates for realty

GST Council today has approved transition plan for the new rate structure for real estate residential projects.

19 March 2019 8:21 PM GMT

The other banks which reported large number of frauds to the apex bank during the period include Axis Bank (189), Bank of Baroda (176) and Citibank (150). (Representational Image)

Rs 13-cr GST fraud busted after multi-city raids by UP STF, sales tax...

According to officials, the accused firms, RoundPay Techno Media and RoundPay Voice Tech, were both registered at same...

14 April 2019 6:22 AM GMT

Luxury and mid segment housing, both saw increased queries in comparison to last year.

Housing supply, sales up in FY19

Developers reduced the average property sizes to align their products within the affordability bracket for more buyers

8 April 2019 8:07 PM GMT

The commerce ministry has circulated a draft cabinet note seeking views of different departments on the proposed industrial policy that aims to promote emerging sectors, Union minister Suresh Prabhu said.

ATF under GST will ensure level playing field for domestic airlines:...

Airlines could expect an annual relief of up to Rs 5,000 crore by way of input tax credit if ATF is brought under GST.

7 April 2019 8:53 AM GMT

The upcoming elections, rising inflation and interest rates could further dampen the buying sentiment in the real estate, making the task of loan recovery difficult.

Anarock budget wish list for realty sector: More bank funds, ITC...

The liquidity crisis is the major factor preventing completion of over 5.6 lakh stalled units across top seven cities.

14 Jun 2019 6:05 AM GMT

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

18 pc GST on flat owners paying monthly maintenance of over Rs 7,500

Tax liability would be calculated for a person who owns two or more flats in the housing society or residential complex.

23 July 2019 3:19 AM GMT