Saturday, January 28, 2023

GST

GST one of most complicated taxation system: Traders’ Body

Terming GST one of the “most complicated” taxation system, Traders’ body Confederation of All India Traders (CAIT) has urged Finance Minister Nirmala Sitharaman to announce review of GST taxation system and all Acts and Rules concerning retail trade and...

No GST on incentive for promoting RuPay

Incentives paid by the government to banks for promoting RuPay debit cards and low-value BHIM-UPI transactions will not attract GST, the Finance Ministry said. Last week the Cabinet cleared a Rs 2,600-crore incentive scheme for banks to promote RuPay...

RSS’ farmer body holds protest rally in Delhi

Thousands of farmers held a rally here on Monday under the banner of RSS-affiliated Bharatiya Kisan Sangh (BKS) to press for a rollback of GST on agricultural goods and other demands and threatened to intensify their protest if these...

GST Council agrees to decriminalise certain offences

The GST Council on Saturday agreed to de-criminalise certain offences and doubled the threshold for launching prosecu-tion to Rs 2 crore, Revenue Secretary Sanjay Malhotra said.The Council could decide on only 8 out of the 15 agenda items due...

Council to decide on decriminalisation of GST offences

The GST Council, chaired by Finance Minister Nirmala Sitharaman, is likely to decide on a number of issues such as decriminalisation of GST offences and setting up of Goods and Services Tax Appellate Tribunals at its meeting on December...

GST mop up grows 11% in November

The collections from Goods and Services Tax (GST) grew by 11 per cent to about Rs 1.46 lakh crore in November on increased consumer spending and better compliance.This is the ninth month in a row that the revenues have...

FM chairs pre-budget consultation with finance ministers of states

The Union Finance Minister held the pre-budget consultations with the Finance Ministers of States and Union Territories (with Legislature) on Friday.The participants thanked the Union Finance Minister for financially supporting their States/Union Territories by enhancing borrowing limits, providing two...

CBI arrests superintendent of GST in bribe case

The Central Bureau of Investigation (CBI) on Thursday said that it has arrested a Superintendent, CGST in Gujarat's Gandhidham for allegedly demanding and accepting a bribe of Rs one lakh from a man. The accused was identified as S. Maheshwari,...

GST collection at Rs 1.52L cr in Oct

GST revenues registered the second highest collection ever at Rs 1.52 lakh crore in October, reflecting pick up in economic activity in the festive season.The collections in October this year recorded a 16.6 per cent rise over Rs 1.30...

GST Council clarifies jurisdictional issues

Tax authorities issuing show-cause notices will have to complete all enforcement and consequential action against the assessee against whom GST evasion was detected, the GST Council has said. Under the GST regime, states administer and control 90 per cent...