GST

Opposition protests against GST in Parliament, demands urgent debate

New Delhi: Opposition MPs in the Parliament were seen protesting against the new GST rates that came into effect on July 18. The Monsoon session of the Parliament began on Monday. “This morning in the Rajya Sabha the Opposition led by the Congress demanded an URGENT debate on price rise and senseless GST rates on...

New GST rates come into effect today; several daily food items to get costlier

New Delhi: The new GST rates, applicable on several essential items, will be effective from Monday, July 18. As a result, several essential items, including milk, curd, paneer, cheese, jaggery, etc will get costlier. The new rates will be applicable to packaged and labelled items, not loosely sold ones or without a label. There will...

GST increase on textiles, footwear deferred amid protests

It had been earlier decided to raise GST on textiles and footwear from 5% to 12% from January 1, 2022 New Delhi: The increase in Goods and services tax (GST) on textiles and footwear from 5 per cent to 12 per cent has been deferred for now amid protests. The decision was taken at the...

Vadodara: GST inspector allegedly spots wife, boss in objectionable condition, gets death threat

Vadodara: In an incident that could be a cause of major embarrassment for the Vadodara GST department, an officer of the GST office in Race Course area of the city has been accused of threatening to kill his junior after being allegedly caught red-handed in an objectionable condition with the latter’s wife. A complaint in...

Nirmala Sitharaman explains rationale behind taxes on COVID medicines, medical equipment

Union finance minister Nirmala Sitharaman has responded to the demand raised by West Bengal Chief Minister Mamata Banerjee to waive off taxes on medicines and equipment required for COVID-19 treatment. She said that a full exemption from Goods and Services Tax (GST) will make the medicines and equipment more expensive for the end-users. Sitharaman explained...

CAIT calls Bharat Bandh on Feb 26, gets support from 40k trade associations

The Confederation of All India Traders (CAIT) has called for a Bharat Bandh on February 26 seeking a review of provisions of Goods and Services Tax (GST) and a reduction in fuel prices. CAIT secretary general Praveen Khandelwal said, “All commercial markets across the country will remain closed and protest dharnas will be organised in...

GST collection hits all-time high of 1.15 lakh crore

In what is an indication of the strong festive demand and recovery in the economy, the Union government on Friday announced that Goods and Services Tax (GST) collections touched a record high of over Rs 1.15 lakh crore in December. It is the highest since the new tax regime was imposed by the Modi government...

Rahul Gandhi takes a dig at Centre, cites its “3 failures” as potential case studies

Congress leader Rahul Gandhi has once again targeted the Narendra Modi government, calling its demonetisation policy and implementation of Goods and Services Tax (GST) failures. He also said that these policies along with the government’s failure in handling of the coronavirus situation will be studied by the Harvard Business School. “Future HBS case studies on...

Govt announces 50% interest cut on delayed filing of GST returns

No late fee will be charged from those who have no tax liability and have not filed returns between July 2017 and January 2020, the government said on Friday. It also announced a slew of measures to ease compliance rules for Goods and Services Tax (GST). This includes a reduction in interest on late GST...

Baba Ramdev’s Patanjali Ayurveda fined Rs75 cr for ‘profiteering’

Yoga guru Baba Ramdev founded Patanjali Ayurveda has been found guilty of profiteering by the National Anti-Profiteering Authority (NAA). The company has been directed to pay Rs75.08 crore under the GST anti-profiteering provisions. While the GST rates were revised from 28% to 18% in 2017, the Haridwar-based FMCG company was found to be holding on...