GST Collections Slip In October To Rs 83,346 Crore

The total collection of GST till November 27 is Rs 83,346 crore for October and 50.1 lakh returns have been filed for the month, a finance ministry statement said.

Four months after India's biggest tax overhaul, traders are still waiting for Rs 50,000 crore ($7.7 billion) they say the government owes them in refunds, leaving them short of operating capital as overseas sales suffer.

Reforms such as GST, Insolvency and Bankruptcy Code, Direct Benefit Transfer are major initiatives, Niti Aayog Vice Chairman Rajiv Kumar said.

The hour-long session on GST will be organized on both days of the weekend between 4 pm to 5 pm. The venue is hall number 18 of Pragati Maidan in New Delhi.

Going forward the 12% and 18% GST slabs may probably be merged, Arvind Subramanian said.

Delhi Chief Minister Arvind Kejriwal on Friday claimed that "2019 will be PM Modi versus the people". Mr Kejriwal, speaking to NDTV, said that the twin reforms of demonetisation and the new national sales tax GST has crushed the livelihood and hopes of small traders everywhere

Standard & Poor's sticks with its "BBB-minus" sovereign rating and "stable" outlook for India, citing low income levels, high debt and weaker government finances.

Xiaomi has announced some attractive price drops on its select Mi accessories as a result of the GST implementation in India.

Days after the Congress's youth wing Yuva Desh tweeted a "chai wala" meme targeting Prime Minister Narendra Modi, which they later deleted, BJP parliamentarian Shatrughan Sinha on Thursday used the same words to allude to the Prime Minister at a book launch in the national capital

BJP veteran Yashwant Sinha delivered a fresh instalment of biting criticism of the economic policies of the Narendra Modi-led government on Thursday and said the implementation of the new national tax GST was a "textbook example" of how it shouldn't have been introduced.

Gujarat's Kshatriya strongman Shankersinh Vaghela today said his fledgling 'Jan Vikalp Front' would carve out a special 10 per cent quota for the most backward classes from within the 27 per cent reservation meant for the OBCs and defer implementation of the GST for a year.

Around 56% of the registered taxpayers filed their GSTR-3B returns for October within due date.

The note ban last year and GST rollout had impacted investment and development prospects of the cities, PwC said.

Moody's decision on Friday to raise its rating of India's sovereign bonds a notch, from Baa3 to Baa2, could elicit one of two reactions. On the one hand, a fair observer could feel that that the decision was way overdue. And, on the other hand, an equally fair observer could raise an eyebrow at the timing. Actually, it's possible to feel both emotions simultaneously -...