- 26 Apr 2024 05:45 PM
- New
Boost Your Business Growth with Bajaj Finserv Business Loan and GST Registration
In today's competitive business landscape, access to timely financing and navigating the intricate landscape of tax management is a perpetual challenge for business owners. From meticulously tracking expenses to ensuring compliance with regulatory requirements, the burden of financial management can often feel overwhelming.
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- 25 Apr 2024 06:07 PM
- New
Lok Sabha Elections 2024: ‘Do not get carried away…’ Kharge writes to PM Modi amid Mangalsutra remark row
Lok Sabha Elections: All India Congress Committee chief Mallikarjun Kharge has written a letter to Prime Minister and Bharatiya Janata Party (BJP) leader Narendra Modi, accusing him of ‘quoting words out of context to create communal divide’.
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- 24 Apr 2024 06:46 PM
- New
Hybrid cars must haul the cess load for longer
NEW DELHI : Hybrid cars in India may remain pricey for a while, with a top panel tasked to review taxes on them yet to formally meet even once, in the backdrop of a divided auto industry. Besides, any change in automobile taxes is unlikely without a comprehensive overhaul in the GST framework, two people aware of the development said.
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- 24 Apr 2024 06:52 PM
GST Council Newsletter For March 2024
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-march-2024.html
Second highest monthly Gross GST Revenue collection in March at ₹1.78 lakh crore; Records 11.5% y-o-y growth (18.4% on net basis)
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- 23 Apr 2024 06:56 PM
Mint Explainer: Why India's push for global trade payments in rupees has had limited success
New Delhi: The government's steps to boost the Indian rupee's use in cross-border payments have found limited success so far. It has encouraged large oil exporters to accept the rupee to settle trades, while the Reserve Bank of India (RBI) has allowed banks from 18 countries to open Special Vostro Rupee Accounts (SVRAs) to settle payments in Indian rupees.
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- 22 Apr 2024 06:21 PM
India’s direct tax ramp-up is showing the way
Data released on Sunday showed that its net direct tax collections in 2023-24 hit ₹19.58 trillion, up 17.7% from 2022-23. This could be good news on two counts.
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- 20 Apr 2024 06:35 PM
'22 persons have same money as population of 70 cr': Rahul Gandhi says 'PM Modi brings demonetisation, GST for them'
Lok Sabha election 2024: Congress leader Rahul Gandhi on Saturday claimed that currently, 22 Indians have the same money as the population of the remains 70 crore combined. He claimed that Prime Minister Narendra Modi gave these 22 “all the money of banks" and introduced the GST and demonetisation to help them.
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- 18 Apr 2024 05:39 PM
GST adoption has given India’s north-eastern states a big developmental push
The unprecedented development of India’s Northeast after 2014 has been widely attributed to a significant push by the central government to various infrastructural projects, ranging from roads and railways to new airports. Though these efforts have played a very important role in boosting the region’s economy, another policy measure that has helped the north-eastern states was India’s 2017 introduction of the goods and services tax (GST). The significant rise in their tax collections has equipped them with resources to push developmental initiatives and become actively contributing stakeholders in the Centre’s efforts to build massive infrastructure across the Northeast. According to the Reserve Bank of India’s report on state finances released in January 2023, the country’s north-eastern states have been the biggest beneficiaries of the GST regime, recording a compound annual GST revenue growth rate of 27.5% since implementation in 2017-18 till 2022-23, much higher than for all states. This rate is also higher than the 9% tax revenue growth recorded before the switch to GST.
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- 15 Apr 2024 07:01 PM
Maharashtra, UP, Karnataka, Tamil Nadu lead in imports
New Delhi: Maharashtra, Uttar Pradesh, Karnataka and Tamil Nadu are leading in consumption of imported goods and thus, in garnering the highest tax revenue from integrated GST or IGST levied on imports and inter-state trade, showed official data for FY24 upto February, indicating the consumption power of these major state economies.
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- 12 Apr 2024 06:22 PM
THIS state is the biggest contributor to GST collection at 19.6%, leads per capita consumption spend
GST Collection: Maharashtra, with a 19.6 per cent share in all-India Goods and Services Tax (GST) collection in fiscal 2024 (April-February), is the top contributor to the GST pool, as per latest data on collections across Indian states, cementing its position as the country's economic powerhouse. A Crisil report released on April 11 reveals that after Maharashtra, Karnataka was the second biggest contributor to the GST pool.
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