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August 2, 2024, 01:02 PM - 2 min read
TMC supremo Mamata Banerjee threatens to hit the streets if the Government of India does not roll back GST.
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June 23, 2024, 07:28 PM - 2 min read
The GST Council in its meeting on Saturday had recommended providing a new optional facility by way of Form GSTR-1A to facilitate taxpayers to amend the details in Form GSTR-1 for a tax period and/or to declare additional details.
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June 23, 2024, 08:11 AM - 2 min read
This session marks the first GST Council meeting since October 2023, and precedes the forthcoming full Union budget expected next month. The Council's decisions aim to ease the tax burden on individuals and businesses, targeting sectors such as railways, education, agriculture, and housing. Key exemptions and tax reductions were introduced to support these areas, along with measures to enhance compliance and curb tax evasion.
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June 22, 2024, 04:34 PM - 2 min read
At the pre-budget meeting with state finance ministers, Sitharaman also nudged states to take advantage of the scheme under which the Centre gives 50-year interest-free loans to states for undertaking specified reforms.
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May 14, 2024, 01:01 PM - 2 min read
These states are now evaluating the associated costs, infrastructure requirements, and manpower needs for implementing biometric authentication during registration. Upon assessment, they will present proposals to their respective state Cabinets for approval.
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May 7, 2024, 01:27 PM - 2 min read
She clarified that states receive 100 per cent of the State GST (SGST) collected within their jurisdiction, approximately 50 per cent of the Integrated GST (IGST) on inter-state transactions, and a substantial portion of the Central GST (CGST) based on recommendations from the Finance Commission.
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May 1, 2024, 03:11 PM - 2 min read
Finance Minister Nirmala Sitharaman confirmed on X (formerly Twitter) that there are no outstanding dues pertaining to IGST settlement to the states. Post-refunds, the net GST revenue for April 2024 stood impressively at Rs 1.92 lakh crore, indicating a commendable 17.1 percent growth compared to the same period last year.
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April 20, 2024, 06:07 PM - 2 min read
"We believe that we have a strong case on merits, and the company will be filing an appeal against the order before the appropriate authority," Zomato stated in a regulatory filing late evening on Friday.
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April 6, 2024, 05:50 PM - 2 min read
The Directorate General of GST Intelligence (DGGI), the intelligence arm under the Ministry of Finance's Department of Revenue, reported that a significant portion of the detected evasion was concentrated in sectors such as online gaming and casinos (Rs 83,588 crore), co-insurance/re-insurance (Rs 16,305 crore), and secondment (Rs 1,064 crore).
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April 2, 2024, 04:50 PM - 2 min read
Karnataka leads the pack with a remarkable 26 per cent growth rate in GST collections, closely followed by Maharashtra with a 22 per cent rise. Even Uttar Pradesh, the country’s largest state, has posted a significant 19 per cent jump, matching the performance of Tamil Nadu.
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March 18, 2024, 07:42 PM - 2 min read
Congress MP Rahul Gandhi accused Prime Minister Narendra Modi of twisting his words and said he was speaking about the power of which Modi was wearing the mask. “Modi ji does not like my words, he always tries to change their meaning by twisting them in some way or the other because he knows that I have spoken a solemn truth…”
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March 5, 2024, 12:29 PM - 2 min read
During the conference, Sitharaman urged GST officials to engage with stakeholders to understand their concerns, streamline processes, and enhance compliance. She highlighted the importance of leveraging technology to address loopholes and provide better taxpayer services
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