TMS Ep234: Chinese phones, GST collections, markets, Bharat NCAP rating

On the heels of launching a crackdown on some Chinese phone makers for alleged tax evasion and money laundering, the government is now reportedly planning to reserve the entry level or sub-10,000-rupees phone category for domestic players only. The plan is to revive the domestic mobile device industry, which is currently dominated by the … Read more

Will bumper GST collections weaken states’ case for compensation?

At this month’s meeting of the NITI Aayog’s Governing Council — chaired by Prime Minister Narendra Modi — chief ministers of some non-BJP ruled states reiterated their demand to extend the GST compensation cess regime for another five years. According to a working paper by the National Institute of Public … Read more

Baghel seeks extension of GST compensation for 5 years at NITI Aayog meet

Chhattisgarh Chief Minister Bhupesh Baghel Sunday reiterated his demand to the Centre seeking a five-year extension for the compensation paid to states for revenue shortfall due to GST implementation and called for revising the rates of royalty for coal and other major minerals from the state. Addressing the meeting of the seventh … Read more

NITI Aayog meeting: PM Narendra Modi pushes states to boost GST mop-up

Prime Minister Narendra Modi said on Sunday that states should develop a clear time-bound roadmap for the implementation of the National Education Policy (NEP) and focus on promoting trade, tourism and technology. He also asked for collective action to increase the collection of the Goods and Services Tax (GST). … Read more

Lack of clarity on GST paid on liquidated damages may lead to litigation

The government has clarified the applicability of the goods and services tax (GST) on various items, but its silence on the tax paid on liquidated damages in the past could lead to litigations. For transactions conducted from July 1, the Central Board of Indirect Taxes and Customs (CBIC) has … Read more

CBIC clarifies on GST to be levied on EVs, mangoes, cattle feed

The Central Board of Indirect Taxes and Customs on Wednesday issued clarifications on the goods and services tax (GST) levied on a host of goods and services. The indirect tax body through multiple circulars addressed key issues around liquidated damages, penalty on cheque bouncing, delayed payment charges, recovery from … Read more

Supreme Court wants states to make DIN mandatory for GST officers

The Supreme Court (SC) has directed the Centre and the Goods and Services Tax (GST) Council to issue advisory to states for implementing a digital system for all communication sent by GST officers to taxpayers. The move, if implemented, will bring in further transparency and accountability in the indirect … Read more