The sluggish growth in goods and services tax (GST) revenue receipts, unless reversed quickly, could poke a ₹40,000 crore hole in central government finances by the end of this fiscal, analysts warned on Wednesday, even as a private survey showed
NEW DELHI: Ahead of the crucial Goods and Services Tax (GST) Council meeting on September 20, the finance ministry has begun crunching the numbers to estimate the revenue it would lose in the event of rate reductions aimed at boosting
Punjab Finance Minister Manpreet Singh Badal said on August 29 there were flaws in the Goods and Services Tax and called for GST 2.0 by redesigning and revisiting it in its entirety.
“GST has been a disappointment, and I think
The “hurried and unplanned” roll-out of the GST has not only led to lower tax collections, but has also allowed frauds worth more than ₹45,000 crore to take place, West Bengal Finance Minister Amit Mitra wrote in a letter to
India’s gross GST collections slipped below Rs 1 trillion to Rs 98,202 crore in August, according to official data released on Sunday.
Gross revenue collections from the Goods and Services Tax (GST) in July stood at Rs 1.02 trillion.
To ease GST related woes for the MSME sector the Finance Minister Nirmala Sitharaman has announced that all pending GST refunds will be paid within 30 days. Further, all future GST refunds will be sorted out in 60 days, she
A combination of various factors has hurt automobile sales in India and an immediate government intervention in the form of GST rate cut can help bring back growth to the industry, according to Hyundai Motor India Managing Director and Chief
The Gujarat High Court has directed the authorities to pay interest for delay in paying GST refunds.
The authorities were asked to pay the interest at the rate of nine per cent per annum.
Saraf Natural Stone, a partnership firm,
The GST regime, which came into force from July 1, 2017, has 7 rates for goods (Nil, 0.25 per cent, 3 per cent, 5 per cent, 12 per cent, 18 per cent, 28 per cent) and 5 rates for services
Heartland states such as Bihar, Uttar Pradesh, Madhya Pradesh and Odisha showed improved performance in goods and services tax (GST) collection for 2019, as compared to the previous year, reports the Times of India.
Their performance stood out against that