Search results for: GST collection

In the name of GST, the renowned 40 leading pharmaceutical companies in the country have not only looted the government within five months of GST implementation but also have not deposited tax to the treasury of the government.

The deadlines for filing GSTR- 1 sales returns of July-September quarter have been extended by the GST Council for more 10 days till 10th January 2018, earlier it was 31st December 2017.

Parliament is proposed to include aviation turbine fuel (ATF) or jet fuel under the Goods and Services Tax (GST) ambit by the civil aviation ministry on 28 December.

The decline in the revenue collection as State GST (SGST) in Karnataka has spoilt chief minister Siddaramaiah’s plan to present a massive Rs 2.10 lakh crore budget for FY 2018-19, which was scheduled to be announced on 9th February.

According to the official sources, Those taxpayers failed to file returns under GST would get an official notification from the government very soon. The government is ready to issue notices to GST defaulters.

The goods and services tax has proved to be a problem for even states too as the latest news from the finance minister of West Bengal Amit Mitra has confirmed. The minister said that there is a revenue shortfall of around 39,000 crores in the first four months of revenue collections which is much less than estimated.

After the announcement of errors in input tax credit claims, the government is keeping an eye on the activities of some companies such as Insurance, Technology, Telecom, and Banks.

In a lieu to aware businesses about wrongful conduct in input tax credit claim, the Finance Ministry requested the businesses to relook at the claims from earlier tax regime

Sushil Kumar Modi, one of the GST council member said that he supports the GST tax revenue to be stabilized before the ministerial panel decides to further tweak the GST rates or merge the slabs.