The finance ministry on Thursday released Rs 40,000 crore to states and Union territories to compensate them for the shortfall in GST revenues, taking the total amount released as loan so far this fis...

The decision to retrospectively raise the GST rates on royalty for mineral exploration and licence fees for mining rights is expected to face  a legal challenge. The GST Council has proposed to ...

The finance ministry has set up two committees of state finance ministers which would rework rate slabs, review GST exempt items and identify potential evasion sources. Four years after the rollout o...

Finance ministry officials have said increasing the average goods and services tax rate closer to the revenue neutral rate of about 15 per cent would help the states in getting more revenue and reduce...

Garment prices for items below Rs 1,000 may go up 7 per cent if the government proceeds to redress the inverted duty structure in that segment. GST rates on yarn in the category of man-made fibre at ...

The clamour for compensation to states beyond June 2022 grew louder on Saturday with Kerala finance minister K.N. Balagopal saying the financial situation of the state would be deeply impacted if the ...

Businesses that default on filing summary return and paying monthly GST will not be able to file GSTR-1 sales return of the succeeding month from January 1 next year. The GST Council in its Lucknow m...

All states, including the BJP-ruled ones, unanimously opposed the inclusion of petroleum products under the goods and services Tax as it would impact the revenue of both the Centre and the states. &l...

Bengal has demanded that the Centre must compensate states for the shortfall in GST collection for another five years. The GST Council, however, could not come to a decision and formed a GoM as state...

The GST Council on Friday decided to tax online food delivery operators such as Swiggy and Zomato on behalf of restaurants from January next year even as it extended concessional tax rates on certain ...