New Delhi: GST revenue for the month of June stood at Rs 92,849 crore, a 2 per cent increase over the same month a year ago, the Finance Ministry said on Tuesday. The gross GST revenue collected in the month of June 2021 stands at Rs 92,849 crore of which...
CAIT says GST has become ‘colonial taxation system’
New Delhi: Various amendments and introduction of rules under GST in the recent past have made the tax systems system much more complicated and put much compliance burden on the traders, it said in a statement. The Confederation of All India Traders (CAIT) added that it is not alone the...
GST dues of states not cleared as claimed by FM: Chidambaram
New Delhi: Former Finance Minister P. Chidambaram has alleged that contrary to the claims of Finance Minister Nirmala Sitharaman, GST dues of Congress-ruled states Rajasthan and Chhattisgarh are yet to be cleared. "More numbers on GST dues. For Rajasthan, the GST dues upto 31-3-2021 were Rs 4,635 crore. This number...
GST cuts for several Covid-relief items, no change in vax tax
New Delhi:The GST Council on Saturday decided to slash rates of several Covid-relief items to 5 per cent from existing 12 to 18 per cent levels but kept the much anticipated tax rate on vaccines unchanged at 5 per cent. Addressing the media, post the GST Council meet, Finance Minister...
Can GST be reduced on the goods of Covid?
New Delhi: On June 12, the GST Council will decide whether GST will be reduced on goods related to Kovid including cylinder oximeter, PPE kit, black fungus medicine, sanitizers. In the last council meeting on May 28, it was recommended to cut GST on PPE kits, masks, vaccines. The report...
GST Council may decide on IGST levy on oxygen concentrators imported for personal use on May 28
New Delhi: The GST Council is its upcoming meeting, scheduled to be held on May 28, is likely to take a call on levy of 12 per cent tax on import of oxygen concentrators for personal use. The Delhi High Court last week said that imposition of 12 per cent...
GST Council to meet 1st time in 2021 on May 28 to discuss Covid relief
Mumbai: The GST Council will meet for the first time this year on May 28, through video conferencing. The meeting coming in the backdrop of the fresh and more deadly Covid wave sweeping the country, is expected to announce a few Covid relief measures particularly on compliance matters. It may...
Govt allows further operational flexibility to GST filers
New Delhi: The government has allowed further flexibility to tax filers operating under the Quarterly Return Filing and Monthly Payment of Taxes (QRMP) scheme of GST. These tax filers will now be permitted to declare invoices pertaining to movement of goods and services in their quarterly return form GSTR 1...
GST collection to record 1.23 lakh crore in March
The GST collection reached a record high of Rs 1.23 lakh crore in March. The Finance Ministry gave this information in a statement. The Finance Ministry said on Thursday that the total GST revenue collection in the month of March 2021 has been Rs 1,23,902 crore. It has Central GST...
5 held in Punjab for GST scam of Rs 700 crore
Chandigarh: The investigation wing of Punjab GST on Saturday arrested five people for creating and operating a bogus billing of Rs 700 crore in copper scrap and hosiery items across Punjab, Delhi and Haryana. They have been accused of availing and passing on fraudulent input tax credit to the tune...