Tuesday, 18 January, 2022
TopicGST

Topic: GST

‘This is Kalyug’: MSMEs, workers in shoe hub Agra say GST hike a kick in the gut after Covid

Covid lockdowns and ongoing Omicron wave have hit hard, but GST hike to 12% from 5% on footwear below Rs 1,000 has knocked down many businesses & left labourers without work.

GST Council defers implementation of tax hike on textiles from 5% to 12%

The 46th GST Council meeting, chaired by Finance Minister Nirmala Sitharaman and comprising state counterparts, decided to deliberate on the issue further in its next gathering.

At pre-Budget meet, states cite Covid, ask Modi govt to raise share in Centre-sponsored schemes

States like Rajasthan, Tamil Nadu & West Bengal have said while government’s share in centrally sponsored schemes has reduced over the last few years, that of states has increased.

Rs 150 cr cash seized from Kanpur businessman’s home in ‘biggest recovery by indirect tax board’

Businessman Piyush Jain is the owner of Trimurti Fragrance, which is the parent organisation manufacturing Shikhar Pan Masala and tobacco-based products. 

India’s GST revenue crosses Rs 1.31 lakh cr in Nov, 2nd highest collection since rollout

The highest GST collection was in April 2021 when numbers hit Rs 1.41 lakh crore. Last month's revenue has been 25% higher than November 2020 and 27% higher than November 2019.

Modi govt committed to compensate state for 5 years for loss due to GST rollout: Sitharaman

Sitharaman said Rs 37,134 crore and Rs 14,664 crore worth GST compensation is yet to be released to states for 2020-21 and 2021-22 fiscal years.

Modi govt releases balance of Rs 44,000 crore to states to compensate for GST shortfall

With the release of Rs 44,000 cr, the total amount released in the current fiscal year as back-to-back loan in-lieu of GST compensation is Rs 1.59 lakh cr, the finance ministry said.

GST law brought a drastic change. But only a digital GSTAT can be the model for tribunals

The GSTAT would be outside the GST authorities' control. It can protect taxpayers’ rights and revenue interests of the govt.

Modi govt could consider higher GST, fewer rates to simplify structure

Currently, GST has four tax slabs: 5%, 12%, 18% and 28%. The two lowest rates could be raised by a percentage point each to 6% & 13%, respectively.

India’s GST collection hits 5-month high in September at Rs 1.17 lakh crore

The tax collections has remained above Rs 1 lakh crore for the third consecutive month. The last highest revenue was recorded in April when collections reached Rs 1.41 lakh crore.

On Camera

YourTurn

Priyanka Gandhi Vadra of Congress, a forerunner of women's question in India | PTI

Be it Congress, BJP, AAP—women’s question in India is a partisan issue. And that’s not so bad

India's woman question tests party imagination. Congress's focus on Nirbhaya, Unnao rape victim, and BJP's Uniform Civil Code show how.
President Xi Jingping addressing a meeting

Nations must secure global supply chains, prevent inflation shocks: Xi Jinping at WEF

In his 3rd address to World Economic Forum, Chinese President Xi Jinping said 'we need to resolve various risks and promote the steady recovery of the world economy'.

Defence

HAL likely to be in fray for Navy’s NUHs after defence ministry junks Coast Guard chopper deal

Last week, the Defence Acquisition Council scrapped the Coast Guard programme to buy 14 twin-engine helicopters under Buy Global category. Other projects under review now.
Illustration by Soham Sen | ThePrint

Read my lips, I’m hurting, says Pakistan’s National Security Policy. What it means for India

The new policy is mostly chaff, but it reveals the most inward-looking Pakistan in 3 decades. It needs breathing space, and is realising loss of stature and friendship with US.
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