- 07 Jul 2023 05:41 PM
- New
GST Council to weigh tax cuts on select items
Source: https://www.livemint.com/economy/gst-council-to-weigh-tax-cuts-on-select-items-11688667034370.html
A committee of officers that reviews proposals for tax rate changes, called the fitment committee, has recommended lowering the GST rates on unfried snack pellets to 5% from 18%
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- 07 Jul 2023 05:46 PM
- New
GST fraud worth ₹15,000 crore: Leading food delivery service among entities under scanner: Report
The Central Board of Indirect Taxes and Customs (CBIC) has discovered that nearly 25% of entities registered with the GSTN do not exist or have disappeared.
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- 06 Jul 2023 05:26 PM
- New
Relieve GST of its warps to regain its reform credentials
The great tax simplifier has not met its promise so far. GST has spurred formalization and scored its ‘one market’ goal, but it awaits a major reset to prove itself historic as a reform
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- 06 Jul 2023 05:31 PM
More GST related data may be made public: GSTN
A committee is deliberating on placing more data in the public domain which will provide more insights on geography and industry specific information based on GST data
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- 06 Jul 2023 05:35 PM
‘Delhi’s first quarter GST collection increases by 15% from last year’, says CM Arvind Kejriwal
Delhi's first quarter GST collection has increased by 15% from last year, according to Chief Minister Arvind Kejriwal. He stated that this increase will allow for the construction of more schools, hospitals, and infrastructure in the city.
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- 06 Jul 2023 05:40 PM
GST Council may define MUVs and XUVs for levy of 22% cess: Report
The Fitment Committee recommended to the GST Council to define MUVs and XUVs at par with the sports utility vehicles (SUVs) for GST
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- 04 Jul 2023 06:32 PM
Chennai man caught in ₹176 crore tax fraud while trying to flee country: Report
A 34-year-old mastermind from Chennai was arrested in Bengaluru for a fake input tax credit racket, causing government a loss of ₹176 crore. The racket involved 59 companies passing on input tax credit worth ₹175.88 crore.
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- 04 Jul 2023 06:36 PM
CBIC waives annual return filing in Form GSTr-9 for turnover up to ₹2 crore
In a tweet, CBIC also announced that the requirement of filing reconciliation statement in Form GSTr-9C by taxpayers with annual turnover up to ₹5 crore has also been waived.
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- 04 Jul 2023 06:38 PM
GST 50th meeting on 11 July- A look at key decisions at previous meeting
The 50th GST Council meeting is scheduled to take place on 11 July. Six years ago, the Modi government rolled out the biggest indirect tax reform in India. A nationwide GST, which subsumed 17 local levies like excise duty, service tax, and VAT, and 13 cesses, was rolled out at the stroke of midnight on July 1, 2017. The members of the Council, the apex decision-making body with regard to policy making and GST rate decisions, include finance ministers from all states and UTs, besides the Minister of State in the Union Finance Ministry.
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- 04 Jul 2023 06:44 PM
Celebrating 6th GST Day: A Milestone in India’s Economic Progress
The Ministry of Finance celebrated the 6th Goods and Services Tax (GST) Day at New Delhi, commemorating six years since the implementation of GST in India. The event was presided over by Union Finance Minister Smt. Nirmala Sitharaman, who emphasized the importance of GST in driving economic progress, promoting cooperative federalism, and acknowledging the vital role of taxpayers. The celebration also recognized the contributions of officers and compliant taxpayers to the success of GST.
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