Paying 1% GST Liability Will Affect Less Than Half Assessees: Finance Ministry

The cash payment of one per cent would be calculated on the tax liability in a month and not turnover of the month, according to sources in the Revenue Department

The minister said that the Good and Services Tax (GST) collection was more than Rs 1 lakh crore in October and November as wel

All the 28 States and 3 Union Territories with legislature have decided to go for Option-1 to meet the revenue shortfall arising out of the GST implementation.

The Directorate General of GST Intelligence (DGGI) has arrested two proprietors of trading firms from Aurangabad in Maharashtra in connection with alleged fraudulent transactions of over Rs 170.35 crore, as per an official release.

Supreme Court Thursday held that the levy of Goods and Services Tax (GST) on lotteries, betting and gambling does not amount to hostile discrimination and is not violative of right to equality under the Constitution.

The GST collection in November included central GST (CGST) of Rs 19,189 crore, state GST (SGST) of Rs 25,540 crore and integrated GST (IGST) of Rs 51,992 crore

Gold Price In India Today: Domestic spot gold closed at Rs 48,972 per 10 grams on Thursday, and silver at Rs 60, 260 per kilogram - both rates excluding GST

AMD Radeon RX 6800 XT graphics card will cost Rs. 64,990 (SEP) in India. This price is exclusive of GST. But the company has not shared exact dates for its availability.

After the receipt of choice, the central government has granted additional borrowing permission of Rs.4,522 crore to Keralaand Rs.6,787 crore to West Bengal.

The COVID-19 situation in West Bengal is being addressed aptly, Chief Minister Mamata Banerjee told Prime Minister Narendra Modi during a video conference today, an official said.

The law committee of the goods and services tax (GST) council will meet on Wednesday in Delhi to discuss invoice frauds, tightening of registration process and consider amendments in the GST law, Finance Ministry sources have said.

West Bengal Finance minister Amit Mitra has written to Union Finance minister Nirmala Sitharaman urging her to convene a meeting of the GST Council for discussions on Centre's borrowings to meet the collection shortfall.

Economic Revival: All economic indicators are revealing that recovery is clearly happening, the Finance minister said and pointed out that GST collections were at Rs 1.05 lakh crore in October, up 10 per cent on a year-on-year basis.

Domestic spot gold closed atRs 50,708 per 10 grams on Wednesday, and silver atRs 62,440 per kilogram - both rates excluding GST