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The All States Finance Ministers have met together in a meeting on Friday regarding the GST Bill. The meeting was held in the context of cull a new chairman of the GST Panel and debate on the Bill. State FMs is willing to pass the Goods and Services Tax system. The empowered committee meeting is directed by the Delhi deputy chief minister, Mr. Manish Sisodia, said the states were “divided” over the threshold.
Finance Minister, Arun Jaitley says that the Prime Minister of India, Narendra Modi has majority votes to pass vital reform, Goods and Services Tax that was first proposed in 2006. Talking about the GST Bill, it is an indirect tax and one of the best and biggest economic reforms in India. The Bill could be applied from April 1, 2016 after it’s approval. The anti-persons of Narendra Modi have blocked the measure in the Rajya Sabha, Finance Minister told in an interview of Bloomberg TV India.
Ex Finance Minister of Kerala Mr. K M Mani has stepped down from his post of chairman of the empowered group of State Finance Ministers panel on Goods and Services Tax. He has resigned from his current post and sent his resignation letter to the Finance Minister of India, Mr. Arun Jaitley. He was taken oath of Chairperson of the panel of GST in the March, 2015.
The most important reform will be delayed due to political interruptions as per CFOs of India. According the Yes Bank survey, around three fourths of CFOs have told that the crucial Goods and Services tax might be levied by next fiscal.
The Kerala High Court, in a ruling, held that input tax credit for FY 2019–20 cannot be rejected on the ground of late filing of GST returns if the return was filed before the cut-off date of 30 November 2021, as stipulated under Section 16(5) of the Central Goods and Services Tax Act (CGST). The […]
The Centre may actively collaborate with States to overhaul the existing GST e-way bill framework, with the initiative slated for discussion at the upcoming 57th GST Council meeting. From the Economic Survey, the next wave of GST reforms will concentrate on reimagining the e-way bill system as a facilitator of smooth logistics rather than only […]
The Punjab and Haryana High Court has provided interim relief in a case that questions the imposition of Goods and Services Tax (GST) on corporate guarantees. This decision has temporarily prevented any coercive measures from being taken against the petitioner involved in the case. Asking for relief, Panacea Biotec approached the High Court. The applicant’s […]
In January 2026, Goods and Services Tax (GST) collections of India have attained Rs 1,93,384 crore, exhibiting a robust year-on-year rise of 6.2 per cent. In January 2025, Rs 1,82,094 crore was the revenue. Cumulatively, from April to January FY26, gross GST receipts of Rs 18,43,423 crore, up 8.3 per cent compared to Rs 17,01,891 […]
In India, the annual Union Budget introduces revisions that impact the Goods and Services Tax (GST) system. Similarly, the Union Budget 2026 has brought updates aimed at simplifying tax rates, easing procedures, improving compliance, and incorporating new technology. Businesses and tax experts should grasp such revisions and ensure that they are effectively integrated into their […]
