A nine-point plan has been firmed up to plug revenue leakages under the goods and services tax regime. It includes setting up a panel with tax officials from Centre and states to draw up a standard operating procedure for tackling
The Central Board of Indirect Taxes and Customs (CBIC) has asked the Directorate General of Foreign Trade to make the accreditation system for star exporters more robust to curb tax fraud.
“Since an exporter enjoying ‘star’ status is allowed many
Goods and services tax (GST) collections in December accelerated to cross the ₹1 trillion mark for the second consecutive month, up 8.9% year-on-year. This should normally suggest green shoots. However, changed GST Council norms for claiming input credit may have
States might be facing a consolidated revenue gap of up to ₹1.23 trillion on account of withdrawal of compensation after the five-year GST transition period ends on June 30, 2022, says a report by economic think tank NIPFP.
In a significant relaxation for the ecommerce sector, the government could allow online platforms such as Amazon and Flipkart to upload e-invoice for vendors under the goods and services tax (GST) framework. As part of ongoing trials of e-invoicing, a
The decade could not have started on a more positive note with the data of December goods and services tax (GST) collections showing a 9 per cent increase compared to the previous year. It is now well recognised that we
While the GST council is all set to bring in a new feature of e-invoicing to enable machines to read electronic invoices, it will also be important for the government to modernize and automate its back office for processing and
Goods and Services Tax (GST) collections in December recorded an increase of 9 per cent on-year to Rs 1,03,184 crore indicating marginal rise in consumption. Since the concept of GST was implemented in 2017, it is the ninth time that
States are crying foul over delay in receipt of compensation from the Centre on the goods and services tax (GST) account and are also slashing capital expenditure due to the overall revenue shortfall, but they would have been worse off
India could look at a calibrated increase in the goods and services tax (GST) rates to shield consumers from sudden price shocks, apart from minimising exemptions, as it seeks to lift tax revenue collections. A panel of officials on revenue