You Could Soon Earn Cashbacks On GST For Payments Made Digitally

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.

The Cabinet gave approval to GST laws amendments today, which included hiking threshold limit for availing composition scheme dealers to Rs 1.5 crore, among other things.