Tag: Goods and Services Tax

Should States get special packages outside Finance Commission allocations?

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In the run-up to the Union Budget, Nitish Kumar and Chandrababu Naidu, the Chief Ministers of Bihar and Andhra Pradesh, respectively, who are in a position to decide the political fate of the National Democratic Alliance (NDA) government at the Centre, have demanded special financial packages for their respective States. These packages could potentially increase…

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Business

GST still far from simple: Arvind Subramanian

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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…

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Business

Next government must urgently fix ‘unnecessarily complex’, counter-productive GST: 13th Finance Commission chair

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Thirteenth Finance Commission chairman Vijay Kelkar present virtually at the TIOL Fiscal Award event. | Photo Credit: Special Arrangement A key architect of India’s tax reforms and the chairman of the Thirteenth Finance Commission Vijay Kelkar has called upon the country’s next government to undertake urgent reforms in the “unnecessarily complex” Goods and Services Tax (GST)…

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Business

GST collections rise 13% to ₹1.72 lakh crore in October

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An Indian consumer goods trader shows letters GST representing “Goods and Services Tax” (GST)at his shop in Hyderabad on August 3, 2016. Growth in India’s gross Goods and Services Tax (GST) revenues bounced back in October with tax collections rising 13.4% to the second-highest monthly tally of ₹1.72 lakh crore. | Photo Credit: AFP Growth…

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Business

Congress Says Centre Charging 18% GST On Gangajal, Tax Body Refutes Claim

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The puja items are exempt from GST since 2017, said tax body. (Representative Pic) New Delhi: The Congress on Thursday accused the Narendra Modi government of imposing an 18 per cent GST on the water of the holy Ganga river and termed it the height of “loot and hypocrisy”. The Central Board of Indirect Taxes…

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Nation

Centre Launches GST Reward Scheme In 6 States And Union Territories

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Centre and states has kept Rs 30-crore corpus for this fiscal for the GST reward scheme. Gurugram: The GST lucky draw ‘Mera Bill Mera Adhikar’ scheme was launched in six states and Union Territories on Friday and the Centre and states have set aside a Rs 30-crore corpus for this fiscal for the reward scheme….

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Business

GST revenues register three-month high in July

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Image used for representational purposes only. | Photo Credit: Special Arrangement India’s gross revenues from the Goods and Services Tax (GST) hit a three-month high to cross ₹1.65 lakh crore in July. However, at 10.8%, it was the slowest uptick in collections since July 2021 compared to revenues from the same month last year. Revenues…

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Business