29 Dec 2023 05:27 PM
New

Zomato gets ₹ 401 crore show-cause notice over delivery charges

Source: https://www.livemint.com/companies/news/zomato-gets-401-crore-show-cause-notice-over-delivery-charges-11703763859683.html

New Delhi: Food delivery giant Zomato has received a ₹ 401.7 crore show-cause notice for delivery charges collected over two and a half years. The notice, dated 26 December, asks why Zomato shouldn't be liable for this tax amount, including interest and penalties, for the period from 29 October 2019 to 31 March 2022.

28 Dec 2023 05:54 PM
New

Ministry of Finance Year Ender 2023: Revenue Department Achievements

Source: https://taxguru.in/goods-and-service-tax/ministry-finance-year-ender-2023-revenue-department-achievements.html

The Ministry of Finance culminates the year with a comprehensive review of the Department of Revenue’s initiatives in 2023. Under the stewardship of the Central Board of Direct Taxes (CBDT), the Department has exhibited unwavering commitment to citizen-centric reforms. Noteworthy are the strides made in taxpayer outreach, faceless processes, and an upgraded national website, all aimed at enhancing transparency and efficiency.

28 Dec 2023 05:48 PM
New

Budget 2024: From tax benefits to coverage - here's insurance sector wishlist

Source: https://www.livemint.com/budget/budget-2024-from-tax-benefits-to-coverage-heres-insurance-sector-wishlist-11703749997820.html

2023 was not just another year in the archives of the life insurance industry; it was a year of groundbreaking achievements. The industry, leveraging the power of Artificial Intelligence (AI) and other advanced technologies, transformed insurance from a complex necessity to a simple, accessible solution tailored to the diverse needs of the Indian populace.

28 Dec 2023 05:44 PM

Zomato receives show cause notice worth ₹402 crore for unpaid GST on delivery charges, Zomato share price dips at open

Source: https://www.livemint.com/companies/news/zomato-receives-402-crore-show-cause-notice-for-unpaid-gst-on-delivery-charges-collected-from-customers-11703726444553.html

Zomato share price: Online delivering platform Zomato Ltd, on December 28, announced that it has received show cause notice (SCN) from theGoods and Services Tax (GST) office for supposed tax liability of ₹401.7 crore, in addition to interest and penalty on the delivery fee collection from its customer from the period of 29 October 2019 to 31 March 2022.

27 Dec 2023 05:37 PM

Will India inflation fall below 4% and economic growth remain strong in 2024? Here's what experts say

Source: https://www.livemint.com/economy/will-india-inflation-fall-below-4-and-economic-growth-remain-strong-in-2024-heres-what-experts-say-11703675692962.html

Indian economy showed remarkable resilience in 2023 with strong GDP growth and robust GST collection. However, inflation remained above the 4 per cent target of the Reserve Bank of India (RBI).

27 Dec 2023 05:47 PM

Appeal to Stop Unlawful GST Notices on false & unscrutinized grounds

Source: https://taxguru.in/goods-and-service-tax/appeal-stop-unlawful-gst-notices-false-unscrutinized-grounds.html

Introduction: The Punjab Accountants Association, representing accounting professionals across the state, addresses a critical concern in a memorandum to the Honourable Finance Minister, Punjab. The association seeks intervention to halt the issuance of vague and incorrect GST Form DRC-01 notices, causing distress to law-abiding traders and industrialists.

27 Dec 2023 05:52 PM

GST Council Newsletter for the month of November 2023

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-november-2023.html

Introduction: The November 2023 GST Council Newsletter (Issue-56) brings pivotal updates on the Goods and Services Tax, including robust growth, amnesty for appeals, and the introduction of biometric Aadhaar authentication. In this comprehensive overview, we delve into the significant developments shaping the fiscal landscape.

26 Dec 2023 05:33 PM

Request to Extend due date of GSTR 9, 9A & 9C for financial year 2022-23

Source: https://taxguru.in/goods-and-service-tax/request-extend-due-date-gstr-9-9a-9c-financial-year-2022-23.html

Introduction: The U.P. Tax Bar Association, Varanasi, has submitted a formal request to the Hon’ble Finance Minister of the Government of India seeking an extension of the deadline for filing GST Annual Return Forms GSTR 9, 9A & 9C for the financial year 2022-23. The association, comprising over 2100 members, emphasizes the need for an extended timeline due to the challenging circumstances and ongoing engagements in responding to departmental notices and assessments.

25 Dec 2023 05:34 PM

Centre, Deloitte studying impact of GST on power

Source: https://www.livemint.com/news/india/centre-deloitte-studying-impact-of-gst-on-power-11703439696061.html

NEW DELHI : As the government looks to bring electricity under goods and services tax (GST), the Union power ministry is looking at its likely impact on the industry, states’ revenue and household electricity bills. Electricity is one of several commodities like petrol, diesel and natural gas that have so far remained out of the purview of GST.

25 Dec 2023 05:22 PM

Players in crossfire as online gaming firms grapple with massive tax hit

Source: https://www.livemint.com/industry/players-in-crossfire-as-online-gaming-firms-grapple-with-massive-tax-hit-11703422072913.html

NEW DELHI : Playing real-money games such as rummy or poker might get more expensive as gaming startups scramble for ways to cope with the impact of higher taxes.