Photo: Mint
IndiGo CEO Raises Concerns Over Increased AFT Prices
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.
Tags: IndiGo, CEO, GST, Crude Oil, Central Government
Courtesy: ANI
Photo: The Indian Express
4 Held For Carrying 32 Kg Gold Jewellery Worth Rs 16 Crore In Train: Odisha
The Government Railway Police (GRP) detained four persons on March 2, for carrying 32 kg of gold jewellery worth Rs 16 crore, without valid GST documents. The detainees, identified as Suresh Sahadev, Mahesh Bhomsar, Deepak Patel and Hasmukhlal Jain, were carrying the gold ornaments in the Mumbai-Bhubaneshwar Konark Express. "We will collect 3 percent GST and 3 percent penalty from these gold ornaments," said GST officer Manmath Pradhan.
Tags: GST, Odisha, Railway Police, Konark Express, Gold Smuggling
Courtesy: ANI
Photo: The Statesman
Govt Hikes GST Rates On Textiles, Footwear From 5% To 12%
Goods and services tax (GST) was increased to 12% from 5% by the government on finished products such as apparel, textiles, and footwear. The notification was issued by the Central Board of Indirect Taxes and Customs (CBIC) on November 18. However, the Clothing Manufacturers Association of India (CMAI) expressed its disappointment with the decision. Reportedly, apparel cost is expected to increase by 15-20% without the hike in GST rates.
Tags: GST, Textiles, footwear, CBIC, CMAI
Courtesy: Money Control
Photo: Forbes
GST Collection 2021; Economy Slightly Recovers From The Pandemic Hit
GST Collection in the month of September exhibits slight traces of economic recovery from the pandemic compared to 2020. The Tax revenue for the month of September alone crossed over Rs 1,17,010 crores which was 23% higher than the tax collected last year in the same period. The higher tax collection will help the government balance the Budget Deficit of 31% that arose due to lockdowns during the second wave.
Tags: GST, GST collection, Tax Revenue, Union Budget 2021, Budget deficit
Courtesy: The Economic Times
Photo: Hindustan Times
Covid Drugs To Be Sold Under Concessional Rate: GST Council
The 45th meeting of the GST Council held in Lucknow, UP chaired by Finance Minister Nirmala Sitharaman, announced GST exemption on expensive imported drugs like Zologensma and Viltetso on September 17. These drugs are unrelated to Covid treatment. The concessional rate of GST on Covid drugs will be continued till December 31. The council decided to increase the rate on locomotives and railway parts from 12% to 18%.
Tags: GST, Finance Minister, Central Government, Covid-19
Courtesy: Zee News
Photo: Odisha Bytes
Swiggy, Zomato To Charge GST On Food Deliveries: GST Council
The GST Council has decided that starting from 1st January 2022, Online Food Delivery Businesses like Swiggy and Zomato are required to collect 5% GST from their customers. This transition is meant to simplify the tax administration. Revenue secretary Tarun Bajaj explained, "There is neither a new tax nor extra tax, the tax earlier payable by restaurants, now will be payable by aggregators to prevent revenue leakage."
Tags: GST, GST Council Meeting, Swiggy, ZOMATO
Courtesy: Hindustan Times
Photo: India Legal
Delhi HC Asks Centre To Review GST On Oxygen Concentrators
The Delhi High Court on May 6 asked the Centre to reconsider imposing GST on oxygen concentrators and exempt them from GST. The HC appointed senior counsel Arvind Datar as amicus curiae to help the court. Reportedly, the Centre citing its incapability failed to accept court’s May 5 order to refrain 12% GST on oxygen concentrators. The petitioner, in this case, mentioned Article 21 to raise concern on tax.
Tags: The Hindu, COVID, GST, Oxygen Concentrator, medical infrastructure
Courtesy: The Hindu
Photo: Taxscan
Govt Waives Late Fee For March, April GSTR-3B, Tax Returns
The Central Board of Indirect Taxes and Customs (CBIC) on May 1 announced that no extra fee will be charged for late filing of tax and GSTR-3B returns for March and April. Reportedly, the date to file taxes was extended by 15 days for taxpayers with more than Rs 5 crore turnover and 30 days for others. CBIC also stated that these relaxations are in effect from April 18.
Tags: tax, GST, tax Exemption, Central Government, CBIC
Courtesy: Hindustan Times
Photo: Business Standard
GST Collections Clock All Time High Of Rs 1.41 Trillion In April
Setting a new record in the indirect tax bracket, the Goods and Services Tax (GST) collections stood at an all-time high of Rs 1.41 trillion in April. Experts attributed government's strict compliance along with heavy crackdown of evaders behind the surge. Reportedly, the collections crossed one trillion mark for seventh time in a row while surpassing previous month's collections by 14%. However, experts expressed worries about future… read-more
Tags: GST, Indirect tax, Goods and Services tax, april, India, tax
Courtesy: Business Standard
Photo: Business Standard
March GST Collections Clock All Time High Of Rs 1.23 Lakh Crore
GST collections of March has skyrocketed at an all-time high of Rs 1.23 lakh crore. The FinMin has cited rapid economic recovery, effective tax administration and stringent fake billing measures besides the increase. Of the Rs 1.23 lakh crore, while CGST and SGST accounted for Rs 22,973 crore and Rs 29,329 crore respectively, IGST clocked Rs 62,842 crore. Notably, the collections increased by 27% compared to March 2020 figures.
Tags: GST, India, tax, Indirect tax, CGST, SGST, IGST
Courtesy: The Times Of India
