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EXCESS GST COLLECTION
UP RERA to facilitate GST refund for homebuyers, warns builders against excess levyUP RERA has issued new guidelines for homebuyers seeking GST refunds. Eligible homebuyers can now claim excess GST collected through the GS...- UP RERA directs real estate developers to charge prescribed GST ratesUP RERA mandates developers adhere to official Goods and Services Tax rates. Homebuyers can claim refunds for any excess GST collected by p...
- Macro, the Mightiest: Why India’s biggest macro variable still falls from the skyThe 2026 monsoon comes with a clear warning: Rainfall is forecast at 92% of the long-period average, with higher-than-usual probability of ...
- Zomato gets tax demand order of Rs 23 croreZomato to appeal Rs 23.26 crore tax demand from Karnataka for FY 2018-19, including GST of Rs 11,27,23,564. Confident in a strong case, Zom...
- GST led to revenue growth, formalisation of economy: EAC-PMThe Goods and Services Tax (GST) regime in India has shown positive outcomes, including revenue growth, formalization of the economy, reduc...
- Four years later, the good timesRevenues from GST have stayed over Rs 1 lakh crore for eight consecutive months of dented growth during the pandemic.
- FY'22 GST compensation shortfall estimated at Rs 2.69 lakh croreThe Centre expects to collect over Rs 1.11 lakh crore through cess on luxury, demerit and sin goods which will be given to the states to co...
- Kerala rejects Centre's proposal of borrowing by states to meet GST revenue shortfallThe Centre and opposition-ruled states like Punjab, Kerala, Delhi and West Bengal, are at loggerheads over the financing of the Rs 2.35 lak...
- GST council needs to work out mid-way solution for settling revenue shortfall issue: Sushil ModiNon-BJP ruled states like Punjab, Kerala, Delhi and West Bengal are at loggerheads with the Centre over the financing of the Rs 2.35 lakh c...
- GST collections for February stand at Rs 1.05 lakh crore, fall short of targetIt was the fourth consecutive month when GST collections crossed Rs 1 lakh crore
- GST collection crosses Rs 1.1 lakh crore in JanuaryThis is in line with the target set by Revenue Secretary Ajay Bhushan Pandey after high-level meetings with senior officials of the tax dep...
- In relief to buyers, realtor told to refund 'excess' GSTSeveral builders have not been passing on the benefit on tax credit on inputs such as cement, steel, paints and sanitary-ware, arguing that...
- Off-Budget financing to rescue Modi government once again?Top sources indicate that the government could very well be staring at a revenue shortfall of close to Rs 1.5 lakh crore rupees on account ...
- CAG conducting performance audit of GST, report likely soonThe CAG is auditing the functioning of the new indirect tax regime since its implementation on July 1, 2017.
- Expect a spike in tax mop-up in December, if not in November: Sachin Menon, KPMGSeptember may not be a representative month as far as tax collection is concerned, says KPMG partner
- NAA's directive on audit of e-comm cos stuck over jurisdiction issueDG Audit can only audit those e-com companies which are registered with the Centre. Those who are registered with states, the state tax off...
- GST rate cuts: Amazon, Myntra on anti-profiteering watchlistTax authorities have kept a close watch on firms to ensure that rate cuts were being passed on to consumers.
- GST provisions on TDS/TCS, reverse charge mechanism deferred by 3 monthsThe GST Council had suspended the provision for deduction of TDS and collection of TCS, as well as implementation of reverse charge mechani...
- Ecommerce companies need not collect tax at source till AprilIn June, the finance ministry had already deferred the TCS once when the government announced switching to the new GST regime.
- GST: There will be no change in law; Amazon, Flipkart get 2 months to comply with TCS provisionThe law says that there will be a need to collect and pay the tax at source, which is the TCS provision (Tax collected at Source).
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