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Observing that the Central Goods and Services Tax Act was enacted with the laudable object of “one country one tax”, the Madras High Court on Tuesday dismissed the anticipatory bail applications filed by nine persons apprehending arrest under the provisions of the Act.
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NEW DELHI: Construction and real estate industry should push for bringing the entire sector under the GST as early as possible to solve major problems of the sector, Group of Ministers on Real Estate under GST regime Secretary Manish Kumar Sinha suggested on Wednesday.

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GST (Goods & Services Tax) for medical college. It should not sound any bizarre. It is and it has been paid for the upcoming medical college in Palamu.

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From April 1, all the States barring Kerala and Telangana, and two Union Territories (with assemblies), will have higher annual threshold limits for mandatory registration for GST for goods suppliers. There is no change in the limit for service providers.

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The Institute of Cost Accountants of India (ICAI) would provide training to about one lakh students on the soon-to-be launched GST Accountants course, a senior official said Thursday.

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Based on the Interim Budget, the aggregate GST collection (Centre and states) for FY20 would be Rs 13.71 lakh crore, which is almost a 20% growth over revised estimates for FY19. The budgeted aggregate GST collections for FY19 was 13.47 lakh crore which has been revised to Rs 11.47 lakh crore (based on figures from the receipt budget of the Interim Budget). The average monthly collection in the first year of GST was Rs 90,000 crore and for the second year, FY19 till January, it is Rs 97,000 crore, which is below the estimated monthly average requirement of1 lakh crore. The monthly GST target for FY20, translates to Rs 1.25 lakh crore. The Interim Budget has set a very steep target for GST.
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Kolkata: The Centre has raked in some Rs 12,000 crore from West Bengal during the current fiscal till December as its share from the Goods and Services Tax from the state and expects to exceed the target of Rs 18,000 crore by March 2019, a revenue official said on Friday.
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A plain reading of Section 49 of the CGST Amendment Act, 2018 is not possible due to the manner in the changes have been drafted.
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SINGAPORE – From midnight on Tuesday (Feb 19), returning travellers will have a smaller allowance on tax-exempt overseas shopping.
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The goods and services tax (GST) Council on Wednesday will consider various proposals to cut tax rates on under-construction residential property, including a tiered structure with 2-3 rates corresponding to different base prices of the houses, officials privy to the discussions in the relevant group of ministers told FE.
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He started the outreach earlier this month when he met a group of seven youngsters from Delhi, Assam, Maharashtra, Kerala and Uttar Pradesh.
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The Maharashtra cabinet on February 20 approved a proposal that seeks to settle all the taxation-related disputes pending before the Goods and Services Tax (GST) came into effect.
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While there is a general consensus in the GST Council about the need to give tax relief for the housing sector to boost demand, a section of it is concerned about large scale tax evasion by builders and so it wants to ensure that relief should be structured in such a way that revenue leakage is plugged.
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While the states’ overall GST ‘revenue shortfall’ against the assured level has come down from 20% last year (July-March) to about 10% in April-December period this fiscal, a curious picture has emerged of neighbouring Delhi and Uttar Pradesh. Delhi needed Rs 2,971 crore as GST compensation from the Centre during April-December this fiscal, more than nine times the amount it received in 2017-18 (July-March); UP, on the other hand, has totally eliminated its GST shortfall this fiscal while the deficit was as high as Rs 2,432 crore last year.
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Ahead of the second round of the GST Council meet on real estate on Sunday, West Bengal finance minister Amit Mitra has come out with his proposal on tax rates – which ranges from one per cent to 7 per cent.
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Entities engaged in businesses of ice cream, pan masala and tobacco will not be eligible for the proposed higher threshold limit for mandatory registration and new composition scheme for services under the Goods and Services Tax (GST). The new proposals will come into effect from April 1.
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Are you planning to buy your dream flat, thinking it will be substantially cheaper from April 1 following the government’s decision to cut GST for under-construction projects, think again! Anticipating that the elimination of input tax credit (ITC) benefit may hit developers’ profits, they are planning to revise the prices   between 1 and 3%, depending upon the market in Punjab. Thus, the GST rate cut will not have much impact on the prices as anticipated by the home buyers.

While the MSME sector has largely welcomed the implementation of Goods and Services Tax (GST), the immediate effect of demonetisation resulted in job losses in many MSMEs
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