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New Delhi: The government has modified the due date for filing of final Goods and Service Tax (GST) sales returns by businesses with turnover exceeding ₹1.5 crore to the 11th day of the succeeding month.

The government has modified the due date for filing of final GST sales returns by businesses with a turnover exceeding 1.5 crore rupees to the 11th day of the succeeding month.

Days after Bihar Deputy Chief Minister Sushil Modi hinted that GST Council may replace 12 per cent and 18 per cent slabs with 14-15 per cent, the officiating Finance Minister Piyush Goyal on Thursday said the capacity to slash the GST rates on more items would go up as Goods and Services Tax revenues and the compliance rate increases and the economy formalises.

LAHORE - The All Pakistan Textile Mills Association has contributed more than 50 percent to the country's exports, i.e. over $11 billion out of total annual exports of $23 billion during last fiscal year.

China is exporting textiles to India through Bangladesh to get around a tax increase on imports, undermining New Delhi's efforts to support local manufacturers, industry sources said.

In a move that would partly address the goods and services tax (GST) revenue deficit for the Centre and come in aid of states worried over stagnant growth in their own tax (non-GST) revenue, the Lok Sabha on Thursday approved changes to the relevant law to allow both to dip into the surplus in the GST Compensation Fund at any time during a financial year.

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