India’s gross revenues from the Goods and Services Tax (GST) were ₹1,43,612 crore in August, 28% higher than a year ago. Revenues from import of goods soared 57% during the month, while domestic transactions and import of services yielded 19% higher taxes than in August 2021. This is the sixth successive month when GST revenues […]
Continue ReadingJuly’s Goods and Services Tax (GST) collection is 28% higher than the same month last year, and is the second-highest monthly collections since the launch of the GST regime July’s Goods and Services Tax (GST) collection is 28% higher than the same month last year, and is the second-highest monthly collections since the launch of […]
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Congress general secretary Jairam Ramesh slammed FM Nirmala Sitharaman over her defence of the hike in GST rates on food items, alleging Modi government is penalising aspiration and a desire to buy more hygienically packed goods. Congress general secretary Jairam Ramesh slammed FM Nirmala Sitharaman over her defence of the hike in GST rates on […]
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The second day of the Monsoon session of Parliament had to be adjourned without any substantial business transpiring as both the Lok Sabha and Rajya Sabha on Tuesday witnessed disruptions and protests over price rise and the newly imposed goods and services tax (GST) on essential commodities. Also read:Parliament’s Monsoon Session, Day 2 updates | […]
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Revenue collections from the GST regime have fallen short of expectations for both the Centre and the States, says a new working paper by the National Institute of Public Finance and Policy Revenue collections from the GST regime have fallen short of expectations for both the Centre and the States, says a new working paper […]
Continue ReadingNirmala Sitharaman and her State counterparts, had pruned the exemption list and imposed tax on a host of goods and services Nirmala Sitharaman and her State counterparts, had pruned the exemption list and imposed tax on a host of goods and services Customers will have to pay 5% GST on pre-packed, labelled food items like […]
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Hotel rooms with tariff of up to ₹1,000/day, maps and charts, including atlases, will attract a 12% GST Hotel rooms with tariff of up to ₹1,000/day, maps and charts, including atlases, will attract a 12% GST Customers will have to pay 5% GST on pre-packed, labelled food items like atta, paneer and curd, besides hospital […]
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The levy of cess was to end on June 30 but the GST Council, chaired by Union Finance Minister Nirmala Sitharaman and comprising State FMs, decided to extend it till March 2026 to repay the loans taken in the last two fiscal years to make up for the shortfall in their revenue collection. The levy […]
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The GST Council, chaired by Finance Minister Nirmala Sitharaman, will meet on June 28 and 29 in Srinagar. “The 47th meeting of the GST Council will be held on June 28-29, 2022 (Tuesday & Wednesday) in Srinagar,” the Finance Minister’s office tweeted. This is the second time that the GST Council meeting is being held […]
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The Group of Ministers tasked with reviewing the Goods and Services Tax rate on casinos, race courses and online gaming has decided to hike the rate to 28% from the current 18% The Group of Ministers tasked with reviewing the Goods and Services Tax rate on casinos, race courses and online gaming has decided to […]
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