Gaps In E-Way Bill Reporting Mechanism May Be Closed: Report

Designed as an anti-evasion measure, the e-way bill system was rolled out on April 1, 2018, for moving goods worth over Rs 50,000 from one state to another.

The RBI in its latest monetary policy meeting on Thursday reduced repo rate, the rate at which it lends the banks, by 25 basis points (bps) to 6%.

The report further said that stricter enforcement of overloading ban, implementation of scrappage policy from April 2020, and GST are all expected to positively impact M&HCV market demand.

A local firm's promoter has been arrested for allegedly evading Goods and Services Tax (GST) worth Rs 88 crore by raising fraudulent invoices, officials said Tuesday.

The Congress today released its manifesto for the Lok Sabha polls, making a slew of promises, including giving Rs 72,000 each to five crore poor families under the ''Nyay'' scheme, filling up 22 lakh government vacancies, bringing a separate budget for farmers and fixing a single moderate GST rate.

The data for the last month of financial year 2018-19 - which concluded on March 31, 2019 - also showed that the overall GST collections for the whole year stood Rs 11,77,369 crore.

Congress president Rahul Gandhi today said that his party's election promise of a minimum income guarantee scheme for the poor is aimed at fixing the "damage" caused by the Narendra Modi government to the country's economy through ill-considered initiatives such as demonetisation and the Goods and Services Tax (GST).

The TMC will work for the revival of the Planning Commission, institution of a judicial inquiry into demonetization and a review of the GST if the opposition alliance is voted to power in the Lok Sabha polls, its manifesto released by party supremo Mamata Banerjee said on Wednesday.

SBI's savings account holders are required to maintain an average monthly average of Rs 1,000-3,000 to avoid any penalty charges. State Bank of India charges a penalty amount to the tune of Rs 7.5-15 (excluding GST) for non-compliance with the guidelines in metro, urban and semi-urban branches, according to the bank's website.

Experts also noted that the transparency brought in by the Real Estate Regulatory Act and GST has helped the sector including the high-end segment.

The Council had in its last meeting on February 24, slashed tax rates for under-construction flats in affordable category to 1 per cent.

Former Prime Minister Manmohan Singh on Friday presented the BusinessLine Changemaker Of The Year award to Union Minister Arun Jaitley for successfully introducing the Goods and Services Tax (GST), giving the BJP an opportunity to heckle the Congress on social media.

The Election Commission has given approval for holding the upcoming GST Council meeting on March 19 to consider various issues including the implementation of lower GST rates for the real estate sector.

The government has assured to reduce corporate tax to 25% from 30% once GST collections improve, said industrialists who met Finance Minister