Centre Extends Deadline For GST Amnesty Scheme Till November 30, 2021

Government has extended the last date for availing the GST amnesty scheme till November 30.

Amid fall in state revenue and GST collection in view of COVID-19 crisis, Karnataka Chief Minister Basavaraj S Bommai on Thursday demanded the Centre to extend the GST compensation period to states beyond 2022, for three more years.

India is open to discussing a change in tax rates on automobiles, the country's revenue secretary said on Wednesday, indicating receptiveness over negotiation on a long-standing request from automakers for lower taxes.

The National Automobile Scrappage Policy will benefit all stakeholders as it will boost manufacturing, create jobs and help both the Centre as well as state governments in earning up to Rs 40,000 crore each in GST, Nitin Gadkari said.

"I quite agree with automotive sector. Two-wheelers and four-wheelers were not only charged 28 per cent Goods and Services Tax (GST) but we also charged cess, which is much more and as I see it will continue for two more years," he said.

Rising GST collections, revival of car sales and bounce in factory activity in July points to faster pace of economic revival which is boosting the rally in markets.

Goods and Services Tax (GST) collections for July 2021 were Rs 1.16 lakh crore, 33 per cent more than the corresponding period of last year.

Prahlad Modi, Prime Minister Narendra Modi's brother and vice-president of All-India Fair Price Shop Association, today asked traders not to pay GST till their demands are met by authorities and advised them to launch an agitation over the issue.

The Delhi Police has busted a fake call centre running in Rohini and arrested seven people for allegedly duping hundreds by obtaining their bank account details on the promise of providing them with an SUV by paying just 1 per cent GST of its cost.

A whopping Rs 338 crore racket of fake invoicing has been unearthed by GST officials in a major bust of tax evasion scam in Assam.

A petition has been filed before the Supreme Court seeking constitution of the Goods and Services Tax Appellate Tribunal.

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.