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Relief for students, no GST on hostel fees less than Rs 1000 per day
As per the ruling, the hostel fee below Rs 1000 per day per student will be subject to a ‘nil’ rate under Entry Number 14.
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Non-filers of GSTR-3B to be barred from filing GSTR-1
GSTR-3B, through which businesses pay taxes, is filed in a staggered manner between 20th-24th day of the succeeding month
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Papad comes in all shapes and sizes, but attracts no tax
The Gujarat bench of AAR rules that as long as ingredients are similar, GST cannot be levied on papad.
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GST: Sweet deal for lassi lovers, but no such joy for those who like flavoured milk
Dairy products like curd, Lassi and buttermilk have been listed under the exempted category of GST
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Pruning list of tax-exempt items and anomalies on GST Council’s agenda
Tarun Bajaj, revenue secretary, said that the Centre’s policy is to provide a tax regime that is stable as well as predictable.
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Industry needs to increase risk taking appetite: PM Modi
Prime Minister Modi said that taking reforms is a matter of conviction for the government, which is ready to take all risks in the national interest
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Manufacturing expands, but Covid-19 second wave weighs on service sector in July
The IHS Markit data contrasted with indicators like export performance, GST collection and E-way bills in FY22
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PHDCCI calls for 3-tier GST with highest slab at 18%
The current GST regime follows a four-tier structure that exempts or imposes a low rate of tax 5% on essential items
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Net tax revenues up 5% in FY21, says FM Nirmala Sitharaman
Non-tax revenue collection dropped 36% to Rs 2.08 lakh crore in 2020-21 from over Rs 3.27 lakh crore in 2019-20
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Rising revenue can bring worries down
To pump up revenue collection further, the government must quickly iron out the glitches in the IT portal and plug GST leakage.
