During a review meeting with revenue secretary Sanjay Malhotra and CBIC chairman Vivek Johri, Union FM Nirmala Sitharaman emphasized the need for a nationwide campaign to raise awareness about the drive against fake entities. On June 17, the FM was informed that 11,140 fraudulent registrations had already been identified, with appropriate action initiated against them. Measures such as OTP-based verification of Aadhaar and pilot programs for… read-more
Courtesy: The Times of India
Lok Sabha proceedings were adjourned till 4 pm on July 20, since opposition brought milk and curd packets to protest against the increased prices and GST rates on household items. The protest was staged outside parliament, near the Mahatma Gandhi statue, and within both the houses. Notably, Rajya Sabha proceedings were also postponed till 2 pm. Further details are awaited.
Courtesy: Hindustan Times
BJP MP Varun Gandhi slammed Prime Minister Narendra Modi's proposal to levy GST on packaged food goods including milk, curd, and rice, saying it will "hurt people." From July 18, 5% Goods and Services Tax (GST) was levied on pre-packaged and labeled-food commodities such as cereals, lentils, and flour weighing less than 25 kg. "This decision taken amid record-breaking unemployment will put more financial burden on middle-class families,"… read-more
Courtesy: Zee news
A parliamentary panel proposed lowering the Goods and Services Tax (GST) on pharmaceuticals and making indigenous vaccinations available for the treatment of cancer patients in India on June 28. Officers from the Ministry of Health and Family Welfare were there to address the crucial problem of accessible cancer treatment in India. According to the Ministry of Health, only six of India's 22 AIIMS had cancer treatment facilities.
Courtesy: Zee News
Government data revealed that Rs 1,40,885 crore has been received as gross revenue collection from Goods and Services Tax (GST) for the month of May, 2022. Of this, CGST is Rs 25,036 crore, SGST is Rs 32,001 crore, IGST is Rs 73,345 crore and cess is Rs 10,502 crore. This is the third consecutive month, in which GST collection exceeded the Rs 1.4 lakh crore mark.
Supreme Court (SC) declared that the Goods and Services Tax (GST) Council's decisions are not binding on the Union government or states on May 19, but have significant value because India has a cooperative federal system. The decision was made by Justices DY Chandrachud, Surya Kant, and Vikram Nath. SC affirmed a Gujarat HC decision to reject the imposition of Integrated GST on importers of ocean freight under reverse charge.
Courtesy: The News Minute
The Union Territory of Puducherry has yielded Rs 600 crore this year, as way of GST (Goods and Services Tax), said Lieutenant Governor Tamilisai Soundararajan, on May 10. Reportedly, this is the highest revenue Puducherry has ever made by way of GST. Furthermore, she stated that over 8,000 enterprises contributed to the revenue. She then praised the GST department for their development.
Courtesy: Press Trust Of India
The Central Government revealed the GST revenues of April 2022, 20% higher than 2021 April, and gross CST collection at Rs 1,67,540 crores. Of the CST, CGST is Rs 33,153 crore; SGST Rs 41,41,793 crore; IGST Rs 81,939 crore. Furthermore, this is the first time that Gross-GST has crossed Rs 1.5 lakh crores. Moreover, the government has settled Rs 33,423 crore to CGST and Rs 26,962 crore to SGST.
Courtesy: The Free Press Journal
Petroleum and Natural Gas Minister Hardeep Puri has said that the Central Government would be happy to bring petroleum and diesel under GST, but that the states are not willing. Puri insisted that the government is taking responsibility, and suggested that the states should also try, and cut down the value-added taxes on fuel. He also chalked up the oil price hike to the Russia-Ukraine conflict.
With an increase in crude oil prices, IndiGo's director and CEO Ronojoy Dutta requested the central government to bring the Aviation Turbine Fuel (ATF) under the ambit of GST. He pointed out that with the ongoing war, the prices have increased to up to 50%. He further stated that an increase in fuel prices will lead to consequences on the economy and tourism sector.