- 06 Feb 2023 06:24 PM
- New
Model GST Audit Manual
Source: https://taxguru.in/goods-and-service-tax/model-gst-audit-manual.html
This model GST Audit Manual is intended to be developed as a comprehensive document which would be helpful for the audit officers of the Gujarat State throughout the entire process of selection of taxpayers for audit till the completion of audit in an efficient and effective manner.
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- 04 Feb 2023 05:32 PM
- New
'E-com sites must name unregistered sellers'
Source: https://www.livemint.com/news/india/ecom-sites-must-name-unregistered-sellers-11675442755252.html
The indirect tax authority is making process changes and deploying technology to achieve the goal of ‘universal tax compliance, said CBIC member, V. Rama Mathew said in an interview.
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- 04 Feb 2023 05:36 PM
- New
GST Council meeting on 18 Feb; Here's what is expected
The minimum threshold of tax amount for launching prosecution under GST has been raised from ₹1 crore to ₹2 crore
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will meet on 18 February. The 49th GST meeting is likely to take up a discussion on the taxation of 'pan masala' and 'gutka' firms. Besides, GST on online gaming, casinos, and horse racing may also come up for deliberations.
- 03 Feb 2023 05:43 PM
GST revenue of ₹1.50 lakh cr monthly to be new normal next fiscal: CBIC chief
GST collection is expected to average around ₹1.50 lakh crore monthly and it will be the ‘new normal’ in FY24 said Central Board of Indirect Taxes and Customs (CBIC) chief Vivek Johri said on Thursday.
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- 03 Feb 2023 05:46 PM
A nudge on income tax mustn’t become a shove
The budget did well to incline taxpayers towards a concessional tax regime that wipes the slate clean for taxation simplicity and also gives us a case study in behavioural economics
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- 02 Feb 2023 04:00 PM
MSMEs to reap gains of revamped credit guarantee scheme
MUMBAI : The government will introduce the revamped version of the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme from 1 April, infusing ₹9,000 crore to aid collateral-free lending to small businesses, finance minister Nirmala Sitharaman said on Wednesday.
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- 02 Feb 2023 04:13 PM
Sitharaman has managed to pull off a balancing act
Nirmala Sitharaman has presented the last full budget of the second Narendra Modi government. The finance minister had a tricky balancing act between stabilizing public finances and supporting India’s economic recovery, with risks from tilting too far on either side.
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- 02 Feb 2023 04:19 PM
GST collection crosses Rs 1.50 lakh crore mark for third time in FY 2022-23
2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022
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- 02 Feb 2023 04:23 PM
Request for waiver of late fee/penalty for delay in filing GSTR-9 & GSTR-9C
Sub: Request for waiver of late fee and/or penalty for delay in filing Annual Return & Reconciliation Statement u/s 44 of CGST Act, 2017
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- 01 Feb 2023 06:56 PM
High govt revenue: What it means for Budget 2023
Source: https://www.livemint.com/news/india/what-high-revenues-mean-for-budget-2023-11675179091546.html
New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. Tax collections in 2022-23 are on course to better its own projections, which lends it comfort. Yet, whether this will continue into the next year depends on how consumption keeps growing, across consumer classes. Data suggests that smaller producers and consumers were hit harder than top producers and consumers in the last two years. If top consumers ease up on spending—against the backdrop of rising interest rates and job losses—budget 2023-24 might need to do its bit to ensure the smallest of Indian consumers spend.
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