All the 28 states and three union territories with legislature have decided to go for the Centre-suggested compensation formula to meet the revenue shortfall arising out of the GST implementation.

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 ...

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) ...

"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 ...

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 ...

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 ...

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 ...