Government Releases Rs 75,000 Crore To States As GST Compensation

In a statement issued by the Finance Ministry, it said the amount has been released under the back-to-back loan facility in lieu of GST compensation.

Kerala Chief Minister Pinarayi Vijayan on Tuesday urged the central government to set up an AIIMS in the state as well as provide pending GST dues worth over Rs 4,500 crore.

Chamber of Trade and Industry also urged the central government to withdraw the increased excise duty that was introduced last year due to the COVID-19 pandemic.

GST collections after regularly crossing the Rs 1 lakh crore mark for eight months in a row, fell below it in June 2021.

''I have promised to hold a special session, in which we will discuss about, all GST compensation-related issues," Finance Minister Nirmala Sitharaman said.

In a message to tax officers on fourth anniversary of GST, she said in the last four years the taxpayer base has almost doubled from to 1.28 crore.

Micro Small Medium Enterprises Minister Nitin Gadkari has suggested a simple and transparent methodology to rate MSMEs.

SBI said it will charge Rs 15 plus GST per cash withdrawal for transaction at bank branches, SBI ATMs or from other banks' ATMs beyond 4 free cash withdrawals

An Odisha government agency working under the Goods and Services Tax (GST) directorate on Monday unearthed a racket that issued fake invoices to the tune of Rs 106 crore, which caused a loss of Rs 19.04 crore to the state exchequer in the form of in

Stating that GST council meetings have become "almost toxic" with the erosion of trust between the Centre and states, West Bengal Minister Amit Mitra urged Nirmala Sitharaman to consider a "course correction" to rebuild faith.

Central Board of Indirect Taxes has said that fees paid by students to sit in any examination conducted by Central or state boards won't attract GST.

With GST rate on Ambulance lowered to 12 per cent from 28 per cent, Maruti Suzuki India has decided to reduce prices of the Eeco Ambulance. It is now priced at Rs. 6.16 lakh (ex-showroom, Delhi).

Supplying food to schools under mid-day meal scheme, pre-schools and anganwadis is exempt from GST, the Central Board of Indirect Taxes and Customs (CBIC) has said.

Industry body CII: Accelerated vaccination is the key to faster economic recovery.