GST E-way bill helped in detecting massive amount of tax evasion
GST evasion worth 39,000 crores was detected by the government in 6,585 cases in April to October period. To give an idea, this amount is more than the GDP of Tripura. ...
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Real Estate all set to get cheaper post GST cut
GST council is planning to cut the rates on under-construction flats. The next GST council meet which is expected to be held in January will bring under construction flats in the 5 ...
GST compensation period for states to be extended up to 2025
The central government has planned to create a ‘backstop facility’ to compensate the states in case of any shortfall during GST collections. The constitution already has had the provision for compensation ...
Congress opposes GST rate cut decision
Of late, Rahul Gandhi and in fact the entire opposition has been trying to corner the Modi government on the issue of GST. While the implementation of GST has been a ...
GST Council’s big gift to the middle class
Modi government gave New Year’s gift to middle class consumers in the 31st meeting of GST council. The council decided to rationalize GST rates on many items and the new rates ...
Modi government mulls to bring 99 percent items in lower GST slabs
There are signs that GST could be further rationalized to bring more than 99 percent of goods and services in 18 percent or lower tax slabs. As of now, there are ...
GST’s impact on household savings
After the implementation of Goods and Services Tax, an average consumer saves almost 320 rupees per month on the purchase of daily use consumer goods like edible oil, cosmetics, and cereals. ...
Ramifications of BJP’s electoral defeat in the GST Council
As the BJP has lost elections in three Hindi heartland states, it would have its ramifications on the functioning of GST council. The Congress party has opposed the GST structure implemented by ...
GST Collection crosses 1 trillion INR
GST collection crossed the mark of 1 Lakh crore in October 2018. Since the implementation of indirect taxation law in July, 2017, this is the second time that the GST collections ...
Effect of GST and Demonetization: Income tax return filings register a substantial growth
The number of Income Tax Return (ITR) filings has gone up by 60 percent till August this year compared to last year. IT returns filed till 30th August 2018 stands at ...
After rate rationalisation, GST council considering slab rationalisation
The Modi government has repeatedly said that the current format of GST is not a final one. It will evolve with requirements and feedback. The GST council, the governing body of ...
