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1 min read
GST notices worth Rs 1 lakh crore issued to online gaming firms
The Goods and Services Tax (GST) authorities have issued show cause notices demanding as much as Rs…
2 mins read
8th weekly instalment of ₹6,000 crore released to states meet the GST compensation shortfall
Ministry of Finance has released the 8th weekly instalment of ₹6,000 crore to the states to meet th…
2 mins read
13 states decide on GST compensation — only Manipur opts for borrowing entire shortfall in one go
Out of the 13, 12 states have opted for the first option, under which the Union government has o…
2 mins read
All 28 states and three union territories decided to go for Centre's GST compensation formula
All the 28 states and three union territories with legislature have decided to go for the Centre-su…
2 mins read
Government needs to work on re-establishing trust with states, says former finance minister P Chidambaram
"I welcomed the change of heart," he tweeted and asked the Centre to clarify how the debt of states…
PTI
2 mins read
Government allows 20 states to meet GST compensation shortfall through open market borrowing
Even with consensus eluding the GST Council meeting on Monday over adoption of borrowing option to …
2 mins read
GST Council gives two options to bridge compensation shortfall — states ask for seven working days to make up their mind
The Finance Ministry estimates the shortfall in cess collection this year will be around ₹2,35…
2 mins read
GST rates may go up for various items to meet revenue shortfall
New Delhi, Dec 11 () With pressure on revenue collection, the goods and services tax (GST) rates an…
PTI
3 mins read
GST Council to meet on Wed amidst talk of rate hike to meet revenue shortfall
New Delhi, Dec 17 () The GST Council will meet on Wednesday to review the taxation structure for sh…
PTI
2 mins read
India's GST collection has been above ₹1 lakh crore in 10 out of the last 12 months
Most tax experts feel that with the economy on path of recovery and GDP growth in Q1 FY22 also…
2 mins read
GST council and states fail to reach consensus on compensation cess — 'No dispute, we may have differences,' says Sitharaman
“There is no dispute, we may have differences,” said Sitharaman. According to her, most of the s…
3 mins read
States not choosing GST compensation options by October will have wait another two years
The sources said that such states will have to wait till June 2022 to get compensation dues, sub…
2 mins read
GST Council likely to approve two-year extension of compensation cess levy
As the Council is likely to adopt the compensation formula suggested by t he Centre in the dif…
2 mins read
Jharkhand is the only state holding out against the Indian government's suggested formula on GST compensation
With Chhattisgarh communicating its acceptance of Option-1 to meet the revenue shortfall arising ou…
4 mins read
GST Council meet on Thursday to figure out how states will be compensated for delays in payment
"The Council will meet tomorrow with a single-point agenda to discuss the compensation cess. A…
3 mins read
Government's new GST compensation formula may raise unconditional borrowing limit by 0.5%
Government sources said that the unconditional borrowing limit for states could be raised by ano…
1 min read
Rajasthan hikes excise duty on liquor, beer to make up for revenue shortfall
Hurting from the huge revenue losses due to lockdown, the Rajasthan government has increased exc…
1 min read
Govt to face Rs 10 lakh cr shortfall in FY21 due to Covid-19: Garg
In a blog, Garg said the government's tax and non-tax revenues are likely to decline by around Rs …
PTI
2 mins read
GST Council meet yet again — to discuss compensation issue for the third time today
The single agenda 43rd meeting of the Council will discuss on the way forward, sources said. …
PTI
2 mins read
Govt stares at tax shortfall of Rs 2 lakh cr; room for personal income tax relief limited
New Delhi, Jan 26 () Tax collections in the current fiscal may fall short of targets by as much as …