GST

01 Sep

GST compensation CRISIS: State govts ask Centre to borrow and pay

editor0 CommentsBusinessCENTREGOVERNMENT, FINANCE, financeminister, GST, Indian government

Terming the two options proposed by the Union government as“unconstitutional,” “illegal” and “a betrayal of the spirit ofcooperative federalism,” key opposition-ruled states pressed theCentre to borrow in order to compensate states for the entire goodsand services tax (GST) shortfall ‘regardless of Act of God’.While six states – Kerala, Telangana, Chhattisgarh, Delhi, Punjaband West Bengal – huddled over a video-conference meeting onMonday to thrash out a strategy to take on the Union government,some states separately shot off letters to the Centre, expressingdisapproval of putting the onus of borrowings on states.The finance ministry on Saturday officially communicated the finerdetails of the two…

09 Jun

Indian Govt to launches facility to file GST via SMS for 2.2 million firms

editor0 CommentsBusinessECONOMY, GST, INDIA

The government on Monday launched an easy Goods and Services Tax (GST) return filing facility through short message service (SMS) for about 2.2 million registered businesses provided the value of the return is nil. “In a major move towards taxpayer facilitation, the government has today onwards allowed filing of NIL GST monthly return in FORM GSTR-3B through SMS,” a finance ministry spokesperson said. Now taxpayers with nil liability will not be required to log on to the GST portal and file their returns as a simple SMS to 14409 will do, he said.The facility will substantially improve ease of GST…