4.05 lakh businesses based in state closed since GST rollout
While the GST regime was aimed at improving business ease and simplifying taxes, some 4.05 lakh businesses based in Gujarat closed after the new regime was rolled out.
Tag: gst implementation
GST, the landmark tax reform, stabilises after a rocky start
As the Indian electorate goes to vote to choose candidates for the 18th Lok Sabha, the ruling NDA government will be showcasing the roll-out and implementation of the Goods and Services Tax (GST) as one of its significant achievements.
Karnataka lost Rs. 59,000 crore due to unscientific GST implementation: CM slams Centre
During the 15th Budget presentation in the Karnataka assembly, Chief Minister Siddaramaiah criticised the Centre for what he deemed as the “unscientific implementation of GST,” resulting in a staggering loss of Rs.59,000 crore for the state. Karnataka Chief Minister said “Loss of Rs.59,274…
GST helped households save Rs.45,000 crore per month from Dec 2017 until Mar 2023: White Paper
Union Finance Minister Nirmala Sitharaman on Thursday tabled the White Paper in Parliament, highlighting the “failures” of the Congress-led UPA government and how BJP-led NDA turned things around. The White Paper showed how Prime Minister Narendra Modi-led NDA government addressed…
Modi Budget@10: GST crosses several hurdles, time for pole vault with merger of slabs and inclusion of fuel
Since the midnight introduction of the Goods and Services Tax (GST) on July 1, 2017, in a majestic ceremony in the Central Hall of Parliament, slowly but steadily the new indirect tax regime has crossed the hurdle race and is now ready…
Applicability of GST on Works Contracts entered before the GST Implementation
The Hon’ble Calcutta High Court, in the case of Dipak Sarkar v. The State of West Bengal and Others, dismissed the writ petition and held that the assessee is liable to pay the GST on payment received after implementation of the GST regime for the work orders given prior to the implementation of the GST regime.
Supreme Court to Decide on GST Implications of Immovable Property: Next Hearing on August 23
The Supreme Court of India heard the case Chief Commissioner of Central Goods And Service Tax & Ors. v. M/s. Safari Retreats Private Limited & Ors. on August 17, 2023.
Interstate flow of goods rose to 70% of GDP post-GST implementation
The value of the inter-state flow of goods in India increased to about 70 per cent of GDP in FY22 from nearly 55 per cent in FY18, taking into account movements of domestic and imported goods, shows a paper authored…
Hope Budget corrects Centre’s fiscal approach towards states: Kerala FM K N Balagopal
Kerala Finance Minister K N Balagopal has expressed hope that the Union Budget will allocate more funds for social and infrastructure development as well as correct the Centre’s fiscal policy in dealing with states. The Left leader, who is critical…