The 55th meeting of the GST Council, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, is likely to discuss rate rejig in about 148 items, besides, it will also deliberate on bringing Aviation Turbine Fuel (ATF), a major component for airline industry’s operation cost, in the Goods and Services Tax (GST) fold. The … Read more
A GOM set up by the Council under Mr. Chaudhary, in its meeting in November had agreed on exempting insurance premiums paid for term life insurance policies from GST. File | Photo Credit: The Hindu A GST Council meeting on Saturday (December 21, 2024) postponed a decision on reducing taxes on health and life insurance, … Read more
The central government on Monday issued notices totalling Rs 10,000 crore to automakers for failing to pay compensation cess levied under the Goods and Services Tax (GST) on utility vehicles, says ET Now citing sources.The automakers have requested the government to review the notices. Read original article here Denial of responsibility! Pioneer Newz is an … Read more
Nirmala Sitharaman, Minister of Finance and Minister of Corporate Affairs in a conversation with The Hindu editors in The Hindu, in Chennai on September 21, 2024. | Photo Credit: Dinesh Krishnan Union Finance Minister Nirmala Sitharaman on Saturday (September 21, 2024) said the Goods and Services Tax (GST) Council is looking at the GST rates, … Read more
2 min read Last Updated : Sep 08 2024 | 8:12 PM IST Delhi Finance Minister Atishi on Sunday said she will raise the issue of imposition of GST on research grant procured by educational institutions in the 54th GST Council meeting. Addressing a press conference, the minister said, “The (central) government has reduced … Read more
Reported By: Mohammad Haris Last Updated: September 01, 2024, 17:24 IST GST Collection in August 2024. Gross GST collection in August 2024 recorded a 10 per cent jump to Rs 1,74,962 crore. Gross GST collection in August 2024 recorded a 10 per cent jump to Rs 1,74,962 crore, according to the latest official data released … Read more
In August, gross revenues from domestic transactions were up 9.2%, improving from an 8.9% rise in July, | Photo Credit: Getty Images/iStockphoto The growth in India’s Gross Goods and Services Tax (GST) collections slowed down marginally to 10% in August from 10.3% in July, with revenues of nearly ₹1.75 lakh crore, but the rise in … Read more
Former CEA Arvind Subramanian. File | Photo Credit: The Hindu Revenues from the seven-year old Goods and Services Tax (GST) had not lived up to expectations, having attained pre-GST levels only now, and the objective of a ‘Good and Simple Tax’ remains elusive, former Chief Economic Advisor Arvind Subramanian averred on Thursday, terming the lack … Read more
Published By: Nibandh Vinod Last Updated: June 30, 2024, 17:15 IST GST Day was first observed on July 1, 2018, marking one year since the tax system’s implementation. (Image: Shutterstock) The GST was launched in a grand ceremony held at the centre hall of Parliament on the intervening night of June 30 and July 1, … Read more
The government has released GST collection data for March 2024. (Photo: Shutterstock) March 2024 sees the second-highest monthly gross GST revenue collection at Rs 1.78 lakh crore Gross GST collection in March 2024 jumped 11.5 per cent year-on-year (YoY) to Rs 1,78 lakh crore, according to an official statement released on Monday. It is the … Read more
