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The Latest Breaking News from GST

Doomsday prophecy over GST 'rip-off' fails to come true

Australia's most populous state has kept a key triple-A credit rating, sparing taxpayers the pain of covering potentially higher interest repayments.

AAP

Morning Mail: credit rating fears for NSW after GST hit; Bendigo doctor’s supervision order suspended; Ukraine welcomes US aid

State’s treasurer says ‘absurd’ GST revenue split has taken more from NSW’s budget than Covid-19

The Guardian - AU

GST collections up 12.54% in February

India's GST revenue in February 2024 hits ₹1.68 lakh crore, marking 12.54% growth, with 18.4 lakh crore collected this year.

The Hindu

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L-G writes to CM Kejriwal for action against GST evasions

Delhi Lieutenant Governor V.K. Saxena wrote a letter to Chief Minister Arvind Kejriwal “advising” him to ask the Finance Minister to hold a detailed enquiry in alleged GST evasions

The Hindu

Tax collection on course to grow 3 times to over ₹19 lakh crore in 10 years of Modi Government

Tax collections likely to exceed ₹19 lakh crore in 10 years of Modi-led Government, providing more leeway for people-friendly tax measures.

The Hindu

Indigenous people and climate justice groups say Cop28 was ‘business as usual’

Developing countries call agreement to transition away from fossil fuels ‘unfair’ and ‘inequitable’

The Guardian - UK

No Fossil Fuel Phase-Out in COP28 Climate Deal

But perhaps the beginning of the end of era of fossil fuels?

Reason

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COP28: No 'Phase Out' of Fossil Fuels After All

Countries could include reducing the consumption and production of fossil fuels.

Reason

Cop28 draft climate deal drops mention of fossil fuel 'phase-out'

The "phase-out" of fossil fuels was deleted on Monday from a long-awaited draft of the UN Cop28's flagship global stocktake and replaced with watered-down language, a day before the climate talks in Dubai were due to end.

Radio France Internationale

Cop28 failing on climate adaptation finance so far, African group warns

Continent’s chief negotiator says an agreement for fair and equitable funding is a matter of life and death

The Guardian - UK

Renewed call for stadium's GST exemption

Tasmania's treasurer has doubled down on his calls for the federal government to provide a GST exemption for Hobart stadium funding.

AAP

Creating certainty: On the Goods and Services Tax

The government must consider resetting its ambitions and work towards making the Goods and Services Tax a truly good and simple tax, as it was promised to be

The Hindu

States agree to do more heavy lifting on disability, in exchange for extra health and GST funding

The Albanese government has promised extra funding for health and to extend its top-up of the GST, in exchange for the states undertaking more of the heavy lifting on disability to help curb the National Disability Insurance Scheme’s cost blowout.

The Conversation

What is the hospital funding agreement politicians are talking about today?

National Cabinet meets today to discuss three big issues in Commonwealth-state financial relations: GST allocation, National Disability Insurance Scheme (NDIS) funding, and a Commonwealth government proposal to kick-start negotiations on a new National Health Reform Agreement, to take effect in July 2025.

The Conversation

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The Hindu

COP28 Climate Summit | Global Stocktake draft calls for phasing out fossil fuels

Latest version of the Global Stocktake includes a clause committing all signatories to “an orderly and just phase out of fossil fuels”; negotiators say that COP 28’s location in the UAE, a petro state, has influenced language in the document

The Hindu

Kerala Opposition Leader V.D. Satheesan says adjournment motion in Lok Sabha echoes Congress’s party line

kerala Opposition leader v.d. Satheesan rebutted CPI(M) claim that Congress' Lok Sabha motion on Kerala's financial crisis contradicted UDF's narrative. He said Congress had repeatedly slammed Centre's fiscal federalism trespasses. Satheesan accused LDF of dismal fiscal management, maladministration, prolificacy & corruption. He said Centre's scaling down of tax dividend &…

The Guardian - AU

Victoria in the dark on proposed NDIS changes on eve of national cabinet meeting, minister says

Lizzie Blandthorn accuses the federal government of not providing enough information, but Bill Shorten is ‘quietly positive’ reforms can be agreed

The Hindu

Average monthly GST mop-up at ₹1.66 lakh crore so far this fiscal: Finance Minister Nirmala Sitharaman

GST collection has been increasing since 2017, with average monthly mop-up in FY 2023-24 at ₹1.66 lakh crore, 11% higher than previous year. Govt. has brought reforms to improve compliance and increase collection, such as e-way bill, ITC matching, e-invoice, etc. 14,897 appeals pending as of Oct. 2023, higher than…

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The Hindu

Kerala cries foul over Centre’s decision to deduct ₹332 crore from IGST settlement

Kerala government cries foul over ₹332 cr. IGST deduction. Finance Minister Balagopal urges Union FM Sitharaman to reverse decision, citing lack of clarity & adversely affecting fiscal situation. Calls for deliberations in GST Council & plugging leakage in GST system.

AAP

Chalmers open to talks with states on GST

Ahead of a treasurers' meeting, Jim Chalmers says he will work with the states to ensure they get a fair share of goods and services tax revenue.

The Hindu

Unpacking the Dubai climate meeting

At the top of the COP28 agenda is the first Global Stocktake, a key part of the Paris Agreement machinery

The Hindu

KVVES demands separate department for retail sector

KVVES demands separate dept. for retail trade to protect existing jobs, create new ones; requests govt. to raise GST registration & FSSAI licence limits to ₹2 cr., extend consideration to small-scale traders, unify fines, relax tax, ensure compensation for evicted traders, solve traffic issues.

The Hindu

Centre committed to improving efficiency in tax administration, says Nirmala Sitharaman

Centre committed to improving efficiency in tax administration, says Nirmala Sitharaman. Union Minister for Finance Nirmala Sitharaman virtually participates in the stone-laying ceremony for GST Bhavan in Tirupati.

The Hindu

I-T department seizes cash ahead of Assembly elections in five States

I-T dept seizes more unexplained cash in run-up to Assembly elections in five States. CBDT chairman Nitin Gupta said pre-election monitoring of cash and surveillance is intense.

The Hindu

MPs from Kerala to meet Union Ministers, seek higher borrowing limit

A meeting of the Members of the Parliament from the State, called by Chief Minister Pinarayi Vijayan on Wednesday, prior to the upcoming Parliament session, unanimously decided to visit the Union Ministers concerned to demand that Kerala’s borrowing limit be enhanced as per the recommendation of the 15th Finance Commission.

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