Goods and Services Tax

The total revenue earned by the Centre and the state governments after regular settlement in October is Rs 38,224 crore for CGST and Rs 37,645 crore for the SGST.

The total number of GSTR 3B returns filed for August up to September 30 is 75.94 lakh, according to a statement issued by the Ministry of Finance.

To stabilise flow of funds into the capital market, the enhanced surcharge introduced by the Union Budget will not apply on capital gains arising on sale of equity share in a company or a unit of an equity oriented fund or a unit of a business trust liable for securities transaction tax.

In a major fiscal booster, the government on Friday slashed effective corporate tax to 25.17 per cent inclusive of all cess and surcharges for domestic companies.

My own experience of two years while chairing the GST Council was that finance ministers of states, notwithstanding the political position their parties take, have displayed a high level of statesmanship and acted with maturity. The council worked on the principle of consensus. This has added to the credibility of the decision-making process. I am sure this trend will continue in future

The government settled Rs 18,169 crore to CGST and Rs 13,613 crore to SGST from IGST as regular settlement. The total revenue earned by the Centre and state governments after regular settlement in June is Rs 36,535 crore for CGST and Rs 38,956 crore for the SGST.

The Goods and Services Tax (GST) on affordable housing properties without input tax credit (ITC) has been reduced to one per cent, while effective GST of 5 per cent shall be applicable without ITC on residential properties outside affordable segment, as was decided by the GST Council at its 33rd meeting here on Sunday.

The Goods and Services Tax (GST) Council meeting on February 20 remained inconclusive after some state finance ministers sought a physical meeting as they felt an issue as crucial as a special scheme for real estate sector should not be discussed through a video conference.

Presenting the Interim Budget 2019-20, Goyal said the Rs 1 lakh crore barrier in average monthly collections seen over the past two years had finally been broken this January with the collection for last month expected to be at around Rs 103,000 crore.

New Delhi: In a new year gift to the common man, the government has notified reduction in GST rates on 23...