In Meet With Corporate Leaders, Rahul Gandhi Discusses GST, Job Creation

Congress president Rahul Gandhi on Tuesday met some corporate leaders here and he was believed to spoken on a range of issues, ranging from GST to job creation.

Congress President Rahul Gandhi today slammed the Goods and Services Tax as "Gabbar Singh Tax" and said that one slab GST would be implemented when the "Congress party-Government" comes to power at the Centre.

Finance Minister Piyush Goyal on Sunday said that many big nations don't have the courage to implement a tax reform like the Good and Services Tax (GST).

The IT backbone of the Goods and Services Tax was not given enough time to prepare a system to the satisfaction of the GSTN which led to the glitches in the implementation of the new tax regime, a top official said.

Karnataka BJP unit today urged the Centre to bring down the GST on pan masala to 5 per cent from the existing 18 per cent and also hike the minimum import price (MIP) of arecanut to Rs 300/kg to save domestic growers reeling under the crisis due to lower prices.

Finance Minister Piyush Goyal today said the capacity to slash the GST rates on more items would go up as Goods and Services Tax (GST) revenues and the compliance rate increases and the economy formalises.

The International Monetary Fund or IMF today described the Goods and Services Tax (GST) as a "milestone reform" in India's tax policy, but pushed for a simplified structure, saying the multiple rate structure and other features could give rise to high compliance and administrative costs.

The GSTN, and the National Payments Corporation of India (NPCI) will develop a system soon for the same.

Foreigners coming to India may not get GST refunds on goods purchased and carried back by them as the government has not invoked relevant provisions of the Integrated Goods and Services Tax Act yet, the Finance Ministry has said in reply to an RTI query.

The GST Council today cleared a proposal to offer cashbacks to consumers on trial basis for digital payments through Rupay cards, BHIM app and UPI system to promote cashless transactions in rural and semi-urban areas.

In the long-term, Goods and Services Tax (GST) slabs may come down to three, in addition to the exempted category, Sanjeev Sanyal, Principal Economic Adviser to the Finance Ministry, today said.

Filmmaker Vijay Ratnakar Gutte, who directed the upcoming film 'The Accidental Prime Minister', which stars Anupam Kher as ex-Prime Minister Manmohan Singh, has been arrested for alleged Goods and Services Tax (GST) fraud of over Rs 34 crore, a GST department official said today.

Bihar Deputy Chief Minister and GST Council's member Sushil Modi on Thursday said the council can think of bringing the petroleum products under the new tax regime only after the monthly revenue target of Rs 1 lakh crore is achieved.

GST officers have arrested two city based businessmen for evading taxes worth Rs 201 crore by fraudulently issuing invoices of Input Tax Credit (ITC) without actual supply of goods.