Goods and Services Tax (India)
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The Goods and Services Tax (GST) is a successor to VAT used in India on the supply of goods and service. Both VAT and GST have the same taxation slabs. It is a comprehensive, multistage, destination-based tax: comprehensive because it has subsumed almost all the indirect taxes except a few state taxes. Multi-staged as it is, the GST is imposed at every step in the production process, but is meant to be refunded to all parties in the various stages of production other than the final consumer and as a destination-based tax, it is collected from point of consumption and not point of origin like previous taxes.
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Govt has failed to act on 'mass unemployment crisis': CongressCongress has criticized the Modi government for not addressing mass unemployment during its first 100 days in office. They blame demonetisation, GST implementation, an unplanned Covid-19 lockdown, and..IndiaTimes - Published | |
Tamil Nadu GST hotelier video: BJP expels functionary for posting clip of man's apology to FMIndiaTimes - Published | |
BJP expels functionary after video of restaurant owner's apology to Sitharaman sparks outrageBJP expelled a functionary after a video of a restaurant owner apologizing to Finance Minister Nirmala Sitharaman went viral. The owner humorously criticized the GST system, prompting debates on its..IndiaTimes - Published | |
Tamil Nadu hotelier's apology to Sitharaman over GST remark triggers political rowIndiaTimes - Published | |
'This has resulted in significant savings for...': PM Modi hails benefit of GSTThe PM also highlighted that after the implementation of GST, the savings of the poor and the common man have increased as the GST has reduced taxes on various household items like flour, curd,..DNA - Published | |
INDIA bloc allies back Kejriwal guarantees, Congress keeps mumDMK highlighted the distinct priorities outlined in each party’s manifesto. “Most of the guarantees made by Kejriwal such as electricity and health are state subjects. They can be implemented only..IndiaTimes - Published | |
Furnish data on GST notices & arrests, SC directs CentreSupreme Court requests GST notices/arrests data to prevent harassment and address ambiguity in section 69 powers. Bench analyzing 281 petitions, highlights misuse concerns, and stresses the need for..IndiaTimes - Published | |
GST revenues hit record Rs 2.10 lakh crore in April on strong eco momentum, efficient tax collectionsIndiaTimes - Published | |
'PM did not implement even one of his electoral promises': Mallikarjun KhargeKharge criticizes PM Modi for unfulfilled promises, BJP's lack of patriotism. Stresses 2024 election importance. Condemns GST impact, Aghadi's alliance decisions. Criticizes Modi's 'tight slap'..IndiaTimes - Published | |
'Prime Minister will never tell you this...': Jairam Ramesh attacks CentreIn a post on X, Jairam said, "More than 40% of the wealth created in the country from 2012 to 2021 has gone to just 1 per cent of the population. About 64% of the total goods and services tax (GST) in..IndiaTimes - Published | |
'Incompetence, malicious behavior': Jairam Ramesh lists 'failures of BJP government on agricultureJairam Ramesh criticized NDA govt for failures in agriculture, including GST impact, inadequate MSP increase, among others. In a post on X, Ramesh said, "Among all the failures of the Modi government,..IndiaTimes - Published | |
GST 'anti-profiteering' clause is fine, says HC; many companies to be hitDelhi high court has upheld the constitutional validity of the anti-profiteering clause in the GST law, which mandates companies to pass on the benefit of lower taxes and input tax credit to..IndiaTimes - Published | |
Government tables 6 bills in Lok Sabha and passes 3, without oppositionThe government tabled six bills in the Lok Sabha, passed three, and debated three others after opposition protests and suspension of MPs. The House passed bills related to Delhi laws, GST, and..IndiaTimes - Published | Lok Sabha passes bill to cap age of GSTAT Prez, members; provisionally effect Budget duty changesThe Lok Sabha passed two bills -- The Central Goods and Services Tax (Second Amendment) Bill, 2023 and the Provisional Collection of Taxes Bill, 2023. The bills, piloted by Finance Minister Nirmala..IndiaTimes - Published |
Lok Sabha passes bill to raise age limit of president, members of GSTATPiloting the bill, Sitharaman said taxpayers who are litigating against GST demands in various high courts or the Supreme Court will have the liberty to withdraw their cases and approach GSTAT once the..IndiaTimes - Published | Demonetisation ended economic recovery that began in 2013: CongressCongress general secretary, communications, Jairam Ramesh said in a statement that demonetisation along with a "badly designed" GST finished off India's job-generating small and medium businesses,..IndiaTimes - Published |
UP Finance Minister Suresh Khanna becomes convenor of GoM of GST CouncilUttar Pradesh's Finance Minister, Suresh Khanna, has been appointed as the convenor for the Group of Ministers (GoM) by the GST Council to review tax rates on goods and services. The decision was made..IndiaTimes - Published | Online gaming companies face Rs 1 lakh crore GST noticesIndia's online gaming industry has been issued show-cause notices amounting to Rs 1 lakh crore, despite concerns raised about applicable GST rates. The government insists on a 28% GST rate, effective..IndiaTimes - Published |
Sporta Tech petitions Bombay high court against show cause to levy steep GST for ‘gambling’ servicesSporta Technologies Pvt Ltd, an online fantasy sports gaming company, has filed a petition in the Bombay High Court to challenge show cause notices regarding a steep Goods and Service Tax (GST) bill...IndiaTimes - Published | GST collection, devolution a success story in northeast: Nirmala SitharamanAccording to the 2023 RBI report on state finances, the eight NE states have registered a compounded annual GST hike of 27.5 per cent, Sitharaman said. Assam was the first state to ratify the GST Act,..IndiaTimes - Published |
With GST being linked to ED, traders paying tax could also be arrested: Delhi CM Arvind KejriwalKejriwal hoped that people would oppose this development at the GST Council meeting on Tuesday.DNA - Published Also reported by •IndiaTimes | Alok Kumar Agarwal Alankit: The Impact of GST On Small And Medium EnterprisesAlok Kumar Agarwal Alankit decodes how small and medium enterprises have been affected post-GST reformDNA - Published |
Vouchers not goods or services, exempted from GST, says Karnataka high courtVouchers are exempted from GST, the Karnataka high court ruled in a recent judgment, asserting that these don't carry any value and they're not goods or services either. "The definition of 'vouchers'..IndiaTimes - Published | Rahul Gandhi launches 'Bharat Jodo Yatra', says 'every institution under attack from BJP-RSS'Rahul said PM Modi brings out policies to "help large businesses who help him; demonetisation, GST, farm laws were all designed to help them.DNA - Published |
Don't force policies: Non-BJP states bring up NEP and GSTChief ministers of some non-BJP states on Sunday asked the Centre not to "force" its policies but to strengthen cooperative federalism and also sought a five-year extension for the compensation paid to..IndiaTimes - Published | West Bengal CM Mamata Banerjee meets PM Modi, to meet President Droupadi Murmu later todayAbout her visit, sources said that CM Mamata Banerjee is likely to discuss multiple issues, including GST dues for her state with PM Narendra Modi.DNA - Published |
'British used to do the same; giving relief in Delhi': Arvind Kejriwal attacks Centre over GST on wheat, riceAAP national convener Arvind Kejriwal slammed the central government over the increase in GST on several food items such as wheat and rice.DNA - Published | 'Immediately withdraw any GST on healthcare services': IMA writes to FM SitharamanIMA said the facilities were earlier in the GST exempted category and will be taxed post-July 18DNA - Published |
Pre-packed labelled food items to attract GST, states continue to seek compensationGoods that are unpacked, unlabelled and unbranded will continue to remain exempt from GST.DNA - Published | Extension of compensation cess comes ahead of GST council meetThe central government has extended the validity of compensation cess levied along with the GST on luxury and "sin" goods such as cars and tobacco by nearly four years to raise funds for the additional..IndiaTimes - Published |
Nirmala Sitharaman to chair 46th GST Council meet today, textile duty hike to be discussedEarlier this year, the GST Council took the decision to raise the rates of rare textiles and footwear by 12 per cent, effective from January 1DNA - Published | |
