The Central Board of Indirect Taxes & Customs (CBIC), the apex policy-making body for indirect taxes, seems to be in no mood to consider giving exporters exemption retrospectively from the pre-import conditions to avail I-GST (Integrated Goods and Services Tax).
In order to pull the plug on GST evasion, the government is working on a mechanism wherein businesses with a turnover exceeding a particular amount will have to generate electronic invoice either on a government portal or on the Goods and Services Tax (GST) portal.
New Delhi: India on Thursday further extended its June 2018 order to impose retaliatory tariffs on 29 US products by another 14 days till 16 May as it awaits a final word from the US on its decision to withdraw duty free benefits to Indian exporters.
Revenue from goods and services tax (GST) witnessed 10% growth from the year-ago period at ₹1.13 trillion in April, the highest ever since the implementation of the indirect tax system on 1 July 2017, the finance ministry said on Wednesday.
The total gross GST revenue collected in the month of April, 2019 is Rs 1,13,865 crore, said an official release on Wednesday.
Goods and services tax (GST) collection touched a record high in April, exceeding Rs 1 trillion for the third time in four months. The mop-up was 10 per cent higher over the previous year.