Centre's Climbdown On GST, Nirmala Sitharaman Writes To States

After four months of confrontation over GST (Goods and Services Tax) dues, the central government has decided to borrow up to ₹ 1.1 lakh crore on behalf of states. Finance Minister Nirmala Sitharaman has, in a letter to states, explained the reason for the turnaround.

Senior Congress leader P Chidambaram on Thursday welcomed the change in the position of the central government which will now borrow Rs 1.1 lakh crore and extend it to states to make up for the shortfall in the GST compensation.

Private hospitals in Kolkata have welcomed the state government's decision to reduce the cost of COVID-19 test from Rs 2,250 to Rs 1,500 as well as fixing rates for ambulance services.

There was no consenus to break deadlock between centre and states over mode of payment of GST compensation, Union Finance Minister Nirmala Sitharaman said late Monday night after yet another marathon meeting of the GST Council

A man has been arrested on charges of creating and operating fictitious firms on forged documents and passing fake input tax credit (ITC) of Rs 190 crore, the Directorate General of GST Intelligence (DGGI) said on Friday.

The new D2H Box Service Plan offers ‘free service of your set-top box’, and this service is priced at Rs. 117 (including GST). This extends your existing box warranty or offers you a fresh warranty for one year.

Congress Rajya Sabha MP P Chidambaram has congratulated the 10 states that "stood firm and rejected" the central government's suggestion that they borrow money to offset GST compensation due to them

The surcharge on luxury goods, which varies from 12% to 200%, is part of the national goods and services tax (GST) introduced in 2017, and was due to expire in 2022.

GST compensation due to state governments for this year - around Rs 20,000 crore - will be released, Finance Minister Nirmala Sitharaman had said on Monday night after a marathon meeting of the 42nd GST Council.

Sources in the Finance Ministry have dismissed allegations ofa "diversion" of Rs 47,271 crore from the GST Compensation Cess Fund and saidall amounts due to state and union territories for 2017/18 and 2018/19 had been fully paid

Amitabh Kant, CEO- Niti Aayog said that the government has been trying bringing down the tax rates on electric vehicles (EVs) to 5 per cent and compared to 28 per cent at other vehicles.

Twenty-one states have given their borrowing option proposed by the goods and services tax council to meet shortfall in compensation from the centre amid the coronavirus pandemic, sources have said. These 21 states went with "option 1", which allows them to borrow the tax collection shortfall due to the switch to the GST, estimated at Rs 97,000 crore, by issuing debt ...

Indian automakers should reduce royalty payments to foreign partners to bring down costs instead of seeking tax cuts, a finance ministry official said on Thursday, days after reports that Toyota would halt expansion in the country due to high taxes.

The leaders of eight opposition parties on Thursday held a protest in the Parliament complex against the government, demanding GST dues. Congress leaders were absent from the protest.