What is Goods and Services Tax

It was widely expected that the GoM would submit its report to the GST Council meeting today

As per GSTN data, more than 98 per cent of applicants for new registration under GST either do not pass on ITC or pass on ITC within a limit of Rs 500,000 per month

Cipa said based on assessment of facts and prevailing law, it is "of the view that the penalty levied is arbitrary and unjustified

Chaudhary noted that there is a special focus from the Prime Minister, and all ministries have been directed to reach their capex targets by March

The Group of Ministers (GoM) on GST rate rationalisation has recommended to raise GST on select sinful goods. Here's how GST Council decides on different tax bands

"The GoM on rate rationalisation has completed its report, which proposes major adjustments to tax rates on 148 items, with a particular focus on the textile industry"

Life Insurance Corporation of India ("the Corporation") has filed an appeal with GST Appellate Authority, Jammu Kashmir against the order demanding GST of Rs. 66,69,251/- for FY 2019-20

Under the co-lending model, NBFCs are required to retain a minimum of 20 per cent of individual loans on their books, while the remaining balance is held by banks

From April to October 2024, gross GST collections on a year-to-date basis reached Rs 12.74 trillion, marking a 9.4 per cent increase compared to Rs 11.64 trillion during the same period last year

Investigation is ongoing, and estimating the precise amount of tax evasion will be only possible after completing the verification of the seized gold and other documents

The Public Accounts Committee of Parliament, chaired by Congress leader KC Venugopal, has decided to assess the performance of regulatory bodies established by Acts of Parliament this financial year

With just one-and-a-half year remaining for the cess to end, the GST Council in its 54th meeting on September 9 decided to set up a GoM to decide the future course of the cess

The threshold for businesses that would be required to issue e-invoices is in the process of being decided.

During the August meeting, the panel had tasked the fitment committee comprising tax officers from the Centre and states to analyse implication of tax rate change on some items and gather more data

In 2023-24, the centre and states collected Rs 8,262.94 crore through GST on health insurance premiums, while Rs 1,484.36 crore was collected on account of GST on health reinsurance premiums

In a post on X, Gandhi said when owner of a small business, like Annapoorna restaurant in Coimbatore, asks for a simplified GST regime, his request is met with 'arrogance and outright disrespect'

The auto sector also contributes significantly to the direct and indirect employment generation in the country, he said while speaking at the 64th ACMA session

When a company sells its rights to leasehold land to a third party for the remaining lease term, the transaction typically attracts stamp duty

Directorate General of Goods and Services Tax Intelligence say chocolatiers, bakeries do not classify as restaurants and must pay 18% GST, not 5%

GST taxpayers who do not furnish bank account details to GST authorities will be barred from filing outward supply return GSTR-1 from September 1, GST Network (GSTN) has said in an advisory.