KARACHI, June 18: The bureaucrats in the federal finance ministry have not worked out as yet the distribution formula of the 2.5 per cent general sales tax (GST) amounting to Rs32 billion among the ...

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.

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 ...

Bengal has rejected the twin formula presented by the Centre to meet the shortfall in the GST compensation pool, with state finance minister Amit Mitra claiming it neither has any headroom to borrow ...

"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 ...

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 ...

The GST Council’s move to tax popcorn differently based on its sugar or spice content has drawn criticism from the opposition and sparked social media outrage, with two former government economic ...

Centre's move to tax popcorn differently based on its sugar or spice content has sparked a debate, with two former government economic advisers questioning the tax system introduced in 2017. The Goods ...

In his post-budget conference, finance minister and chairman FBR had claimed that the government hopes to eliminate exemptions enjoyed by the elite worth Rs343 billion, and that fresh taxes of just ...