New Delhi, Jul 27: The Finance Ministry will soon move the Cabinet with changes in the GST Constitutional Amendment Bill providing for full compensation to states for first five years of roll out of ...

Amid a raging row over the hefty taxes on petrol and diesel, NITI Aayog is learnt to have proposed a formula whereby the two motor fuels and electricity could be brought under the goods and services ...

GST return filing date extended by govt. The Centre’s message to states as it presented two options before them at the Thursday’s GST Council meeting was very clear: the additional revenue slippage on ...

Goods and Services Tax (GST) department officials and businessmen are in a fix over the applicability of changed formula for availing the accumulated input tax credit (ITC) in special cases. The ...

It is possible that the Centre has now become wiser and has decided to follow an allocation system which gives it more from Integrated GST and helps boost its revenues, says A K Bhattacharya.

"There is no act of God in the GST formula. This is a brazen abrogation of a solemn promise," Kerala Finance Minister Thomas Isaac said, hitting out at the Centre. On GDP growth figures, he said," I ...

Debate on the major overhaul of the system focused on $6.7 billion of top-up payments pledged by Mr Morrison to ensure states were not worse off. University of Tasmania Professor Richard Eccleston ...

The 2014/15 budget papers show the states and territories will share in $53.7 billion in revenue from the consumption tax. The biggest recipients will be NSW ($16.8 billion), Victoria ($11.8 billion) ...

The eastern states say their losses under a changed GST formula could well exceed the $1 billion a year the federal government is prepared to offer in compensation, and they are demanding a blank ...

The GST Council is likely to discuss ways to bring aviation turbine fuel within the new tax regime. A meeting of the council is due this month as it meets once every quarter and had last met on ...