Falling GST revenue: CBEC asks officials to go after non-filers

July-October saw only about 60 lakh taxpayers filing even the summary returns. In what showed the government’s anxiety over the “high” transitional credit claims and absence of invoice-matching hitting the goods and services tax (GST) collections, the Central Board of Excise and Customs (CBEC) has sent another missive —the third in less than a month—to […]

RERA, GST likely to make co-operative society sites costlier

BENGALURU: Buying a site in a co-operative housing societymay soon become more transparent and more expensive. This is because housing societies now need to register under the Karnataka Real Estate Regulatory Authority and Goods and Services Tax (GST). “The dream run of cooperative housing societies, which made hay during the property boom in Bengaluru and other […]

Can government ensure E-way Bill system to be glitch-free?

Mumbai: Last week, the Goods and Services Tax Council decided to make E-way bills or electronic invoices compulsory to move goods between states from February 1, replacing the transit pass systems followed by individual states. According to the GST act, to transport goods worth over Rs 50,000 beyond 10 km, traders or transporters need to register ahead their […]

GST hiccups: Why govt deferring e-way bill due to unpreparedness will hurt transport industry

The government’s back and forth over implementation of the e-way bill, seen as a crucial piece of legislation for India’s road transport and logistics industry, seems to characterise the pitfalls in the ambitious GST regime. Never more than now, as India’s truckers and goods transporters continue to struggle with state enforcement machineries like in the […]

GST Council to meet tomorrow; discuss roll out of e-way bill

NEW DELHI: The all-powerful GST Council will meet tomorrow to discuss the early implementation of the e-way bill as well as ways to plug tax evasion. Headed by Finance Minister Arun Jaitley, the meeting will be held via video conferencing and deliberate on cementing gaps in the system as well as curbing evasion, sources said. […]

PM has met two of my demands on GSTN, says Swamy

“Two of my demands were met by the Prime Minister. One, to permit Comptroller and Auditor General of India (CAG) to audit Goods and Services Tax Network (GSTN) and two, to ask Ministry of Home Affairs to investigate GSTN for national security compliance,” he told. GSTN, a not-for-profit private limited company, is providing the technology […]

Thanks to GST, Telangana records revenue losses in October

HYDERABAD: Telangana state’s GST collections remain not much effected even as the overall collections at the national level dipped in October. Collections in October slipped to Rs 83,346 crore from over Rs 92,000 crore in September. The collections in Telangana too slipped by 160 crore and the same amount was compensated by the Central government. “We […]