22 May 2023 05:19 PM
New

Hunt for fake GST registration may turn heat on minnows of e-commerce

Source: https://www.livemint.com/economy/hunt-for-fake-gst-regn-may-turn-heat-on-minnows-of-ecommerce-11684691204612.html

Central and state indirect tax authorities launched a two-month drive on 16 May to weed out entities that secure GST registrations wrongfully, generate fake invoices and pass on bogus tax credits to other entities without any actual sales

19 May 2023 05:39 PM
New

Sebi proposes uniform total expense ratio for mutual funds

Source: https://www.livemint.com/news/india/sebi-proposes-uniform-total-expense-ratio-for-mutual-funds-11684460254627.html

At present, Sebi allows asset management companies to charge unitholders of mutual fund four additional type of expenses over and above the specified TER limits.

18 May 2023 06:05 PM
New

Reduce GST rates on two-wheelers from 28% to 18%, FADA appeals to GST council

Source: https://www.livemint.com/auto-news/reduce-gst-rates-on-two-wheelers-from-28-to-18-fada-appeals-to-gst-council-11684407898031.html

Two-wheelers accounted for 78% of the total automobile sales in the country in 2016. Due to increasing prices, the contribution has decreased to 72% in 2023, FADA says.

16 May 2023 05:39 PM

NSE India Q4 results: Net profit up 31% year-on-year to ₹2,067 crore; declares dividend

Source: https://www.livemint.com/market/stock-market-news/nse-india-q4-results-net-profit-up-31-year-on-year-to-rs-2-067-crore-declares-dividend-11684170042993.html

NSE India Q4 results: The National Stock Exchange (NSE) reported on Monday that its consolidated net profit for the three months ending in March increased by 31% to ₹2,067 crore.

13 May 2023 06:09 PM

Data mismatches to trigger notices under automated GST scrutiny, say experts

Source: https://www.livemint.com/news/india/data-mismatches-to-trigger-notices-under-automated-gst-scrutiny-say-experts-11683971200753.html

Similar to income tax returns processing, now the process of GST notices will also be automated through a system driven approach instead of direct notices from the assessment officer.

13 May 2023 06:33 PM

Request Letter for Doing Important Amendments in GST ACT

Source: https://taxguru.in/goods-and-service-tax/request-letter-important-amendments-gst-act.html

Request Letter for Doing Important Amendments in GST Act.

12 May 2023 05:01 PM

Karnataka HC quashes ₹21,000-crore GST notice to Gameskraft

Source: https://www.livemint.com/companies/news/karnataka-hc-quashes-rs-21-000-crore-gst-notice-to-gameskraft-11683808683880.html

As per the authorities, GTPL submitted fake/back dated invoices, that was was uncovered during a forensic examination of the documents.

12 May 2023 05:29 PM

CBIC launches automated return scrutiny module for GST compliance

Source: https://www.livemint.com/news/india/cbic-launches-automated-return-scrutiny-module-for-gst-compliance-11683822481141.html

The move comes after Nirmala Sitharaman directed the board to roll out the non-intrusive compliance verification system for GST returns.

12 May 2023 05:39 PM

Businesses with more than ₹5 crore sales have to generate e-invoices

Source: https://www.livemint.com/news/india/government-mandates-e-invoicing-for-businesses-with-5-10-crore-sales-in-new-delhi-to-capture-large-volumes-of-data-and-check-gst-payment-11683827987578.html

The government has been lowering the threshold for eligible entities for e-invoicing in phases, beginning with entities with more than ₹500 crore revenue in October 2020.

12 May 2023 05:46 PM

HC quashes DGGI’s ₹21k cr tax demand from Gameskraft

Source: https://www.livemint.com/companies/news/hc-quashes-dggi-s-21k-cr-tax-demand-from-gameskraft-11683828095273.html

NEW DELHI : The Karnataka High Court on Thursday overturned an order by the Directorate General of GST Intelligence (DGGI) imposing a ₹21,000 crore goods and services tax demand on Bengaluru-based Gameskraft, offering relief to online gaming firms.