Changes In GST Act Being Made To Help Corporate Growth: Jayant Sinha

GST is fast becoming the commercial backbone of this country and the government is making necessary changes required to support the businesses

With tax reforms such as faceless assessment taking roots, 2021 will go down as the year that pivoted the tax administration in a country aspiring to become the world's favourite investment destination.

The GST Council has not recommended bringing petroleum products under the reformed taxation regime even as certain representations have been made to the government to include petrol and diesel in GST, Parliament was informed on Tuesday.

GST revenue in November marked second consecutive month of revenue collection above Rs 1.3 lakh crore.

Approximately Rs 52,000 crores of Goods and Services Tax compensation was due to the states till September 2021, government has said

Such services when provided through any e-commerce platform would become taxable at five per cent effective January 1, 2022.

The proposed change in GST rate from 5 per cent to 12 per cent is going to significantly increase the prices of apparels now costing below Rs 1,000

The Congress today accused the BJP government of trying to divert the country's attention from real problems like price rise faced by common people to "non-issues" of caste and religion.

"It (Boeing 737 MAX) has gone through the greatest ever scrutiny any aircraft may have undergone in the history of aviation," said Ajay Singh

Revenue Secretary Tarun Bajaj said that some people are already paying capital gains tax on the income from crypto, and in respect of GST also the law is "very clear" that the rate would be applicable as those in case of other services.

Nationalist Congress Party chief Sharad Pawar today demanded the release of GST compensation to the states for them to reduce value-added tax (VAT) on fuel. His remarks come days after the Centre reduced the excise duty on petrol and diesel.

Goods and Service Tax (GST) collections rose to Rs 1.30 lakh crore in October, the second highest since its implementation in July 2017

The Goods and Services Tax (GST) mop-up for the month of October stood at over Rs 1.30 lakh crore, 24 per cent higher than the GST revenues in the same month last year.

Finance Ministry has released Rs 44,000 crore to states as part of the back-to-back loan facility in lieu of GST compensation