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The Latest Breaking News from GST Council

Top news developments in Karnataka on June 28, 2022

Here are the key news developments to watch out for from Karnataka today

The Hindu

Restoration of trust between States and Centre essential for smooth continuation of GST system: Praveen Chakravarty

States should get direct taxation powers, extension of revenue guarantee, says Praveen Chakravarty, Chairman of the Congress Data Analytics Department

The Hindu

Agriculture minister Narendra Tomar to take up industry's demand on reducing GST on pesticides with finance minister

NEW DELHI: Agriculture minister Narendra Singh Tomar on Thursday assured the agro-chemicals industry that he would take up the industry's demand to reduce GST on pesticides to 5 per cent from 18 per cent with the finance minister.

The Times of India

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Agriculture Minister to take up industry's demand on reducing GST on pesticides with FM Sitharaman

Minister Narendra Singh Tomar was responding to the demand made by FICCI Crop Protection Committee Chairman that the GST should be reduced to 5% from 18%

The Hindu

GoM fails to reach consensus on GST rate rationalisation

It will seek an extension to submit its final report, they said, adding issues of tax rates will also be raised in the upcoming Council meeting later this month.

The Hindu

GST Council to meet on June 28-29 in Srinagar

This is the second time that the GST Council meeting is being held in Srinagar

The Hindu

It’s high time we revisited GST, says Thomas Isaac

‘Lack of flexibility for States is against spirit of Constitution’

The Hindu

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The weight of the GST Council ruling

The Supreme Court judgment is a treatise on the democratic and federal imports of the GST legislations

The Hindu

A critical juncture: On GST reforms

Distilling inflation’s impact on GST revenues is critical before structural reforms are put on hold

The Hindu

A new road for India’s fiscal federalism

After the ‘Mohit Minerals’ judgment, States will now be free to exercise independent power to legislate on GST

The Hindu

GST Council an avenue for ‘political contestation’ across party lines: SC

It says the ripples in GST Council impact both federalism and democracy

The Hindu

GST Council recommendations not binding on government: SC

NEW DELHI: In a landmark decision on fiscal federalism in India, the Supreme Court on Thursday ruled that recommendations of the GST Council, hitherto regarded as obligatory, are not binding on the Union and state governments.

The Times of India

Supreme Court verdict won’t alter GST regime: Finance Ministry

Kerala, Tamil Nadu hail Supreme Court ruling for safeguarding States’ rights

The Hindu

Supreme Court verdicts ‘turning points’ in safeguarding States’ rights, says State Finance Minister

‘For years, the Centre has been acting against the interest of the States, their rights and federalism’

The Hindu

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The Hindu

Supreme Court says Centre, States have equal powers to make GST-related laws

Court confirms Gujarat High Court ruling that government can’t levy IGST on ocean freight imports

Benzinga

India Not Done: Another 28% Tax On Bitcoin, Ethereum, Dogecoin Could Be Coming

After levying a 30% income tax on profits earned from cryptocurrency trading – the Indian government is now reportedly mulling imposing a 28% Goods and Service Tax (GST) on digital assets.

The Times of India

Niti Aayog unveils draft battery swapping policy, backs fiscal incentives and interoperability

NEW DELHI: The GST Council may consider reducing the differential across the tax rates for Lithium-ion batteries and Electric Vehicle Supply Equipment (EVSE) which are at 18% and 5%, the draft battery swapping policy has proposed among a raft of recommendations to give a fresh boost to adoption of electric…

The Hindu

T.N. Finance Minister to write to GST Council

‘Put an end to rumours that there is a plan to increase the rates’

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The Times of India

States yet to receive Rs 53,000 crore from Centre as GST compensation

NEW DELHI: Finance minister Nirmala Sitharaman said on Friday the payment of around Rs 53,000 crore is pending as goods and services tax (GST) compensation to states for the current financial year.

The Hindu

‘GST compensation cess has been extended to repay loans’

Union Finance Minister Nirmala Sitharaman on Wednesday stated that the GST Council had already extended the “compensation cess” till March 2026 for helping States repay loans borrowed to make up for shortfall in GST compensation for 2020 and 2021.

The Hindu

GoM to make recommendations to GST Council

It recommends physical verification of businesses at the time of registration

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