- 14 Nov 2022 06:24 PM
- New
Why merging GST NAA with CCI may not be a prudent move
The proposed merger of the two regulatory bodies may seem logical given the perceived commonality between the two – namely, regulation of economic laws and protection of consumer interests.
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- 14 Nov 2022 06:29 PM
- New
GST Council Newsletter for the month of October, 2022
Source: https://taxguru.in/goods-and-service-tax/gst-newsletter-october-2022.html
It is heartening to see the buoyancy in revenue collection for the past eight months where the monthly GST revenue collections were reported above 1.4 lakh crores. The revenue collection for the month of October, 2022 stood at 1,51,718 crore indicating a 16.6% year-on-year rise as well being the second highest level of tax collection since the rollout of the indirect tax regime and this augurs well for the economy.
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- 12 Nov 2022 06:00 PM
- New
India has become centre of hope for entire world: PM Modi
New Delhi: Prime Minister Narendra Modi on Saturday that India has become a beacon of hope for the entire world as a result of the government’s policies and decisions aimed at improving the lives of ordinary citizens.
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- 11 Nov 2022 05:53 PM
Officers’ panel to decide on GST profiteering regulation
NEW DELHI : If the government can remove the administrative bottlenecks, a panel of officers entrusted by the GST Council to take emergency decisions, will issue orders on how goods and services tax (GST)-related profiteering will be regulated after November end, said a person familiar with the discussions in the government.
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- 11 Nov 2022 06:03 PM
Finally, clarity coming soon on GST on crypto
NEW DELHI : Clarity on applying goods and services tax (GST) on crypto or virtual digital assets appears to be around the corner, with the Central Board of Indirect Taxes and Customs (CBIC) working on an agenda paper on the topic. The board has been interacting with the industry to decide on the GST rate for crypto assets and identify whether they should be classified as ‘goods’ or a ‘service’, besides related issues.
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- 11 Nov 2022 06:07 PM
CBIC issues fresh guidelines on transitional credit
NEW DELHI: The Central Board of Indirect Taxes and Customs (CBIC) has issued fresh guidelines on verification of tax credit claims by businesses relating to their transition to the Goods and Services Tax (GST) regime in 2017.
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- 09 Nov 2022 05:41 PM
‘India a changed nation post demonetisation’: Kotak CEO
‘India a changed nation post demonetisation!’ said Kotak Mahindra Bank chief executive Uday Kotak on the sixth anniversary of demonetisation. He said that there were challenges due to demonetisation, however, the country also has positive effects of it.
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- 07 Nov 2022 05:51 PM
India should incentivize state-level fiscal responsibility
To ensure fiscal discipline, the government at all levels must be made to face financial consequences of their decisions." That is a quote from Anwar Shah’s paper, ‘Balance, Accountability, and Responsiveness: Lessons about Decentralization’. Dispensations in some states may not have read it. Following the footsteps of Rajasthan and Chhattisgarh, the Punjab government too has given in-principle approval to restore the old pension scheme for its employees. Far from providing a compelling indictment of the new pension scheme, the move backtracks on one of the crucial reforms that helped state governments dodge a ‘fiscal bullet’. But how is it possible for states with two of India’s highest debt-to-GDP levels to take such fiscally profligate actions?
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- 07 Nov 2022 06:02 PM
PwC India’s Tax Academy launches GST executive professional certification
NEW DELHI: Aimed at equipping India’s workforce with critical job-ready skills, PwC India’s Tax Academy on Monday announced the launch of a first-of-its kind professional certification programme on GST on online learning platform Coursera.
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- 07 Nov 2022 06:13 PM
Amendment in GST return format: Why changes regarding ITC will increase complexity for taxpayers
In most companies, the accounting process of vendor invoices is structured in such a manner that the GST amount, which is ineligible for ITC, is not recorded separately rather the entire transaction amount is booked in the expense GL itself
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