10 Jan 2023 04:33 PM
New

MCA waives late fees for 15 days as it migrates to new statutory filing system

Source: https://www.livemint.com/companies/news/mca-waives-late-fees-for-15-days-as-it-migrates-to-new-statutory-filing-system-11673291839384.html

The ministry of corporate affairs on Monday started moving a large part of the corporate reporting process to the revamped compliance portal, MCA21, and has given more time for businesses to file key statutory documents without additional fees.

09 Jan 2023 02:32 PM
New

Past 8 yrs reforms will help India emerge among top 3 global economies: Piyush Goyal

Source: https://www.livemint.com/news/india/past-8-yrs-reforms-will-help-india-emerge-among-top-3-global-economies-piyush-goyal-11673135838431.html

India will soon emerge among the world's top three developed economies owing to the structural reforms taken in the past eight years, Union Minister for Commerce and Industry Piyush Goyal expressed recently.

09 Jan 2023 02:40 PM
New

What will be the math behind Budget 2023?

Source: https://www.livemint.com/economy/what-will-be-the-math-behind-budget-2023-11673199003588.html

In the upcoming Union budget, the Centre will make prudent promises as always about keeping its finances in check. But this time, striking the right balance won’t be easy. For one, the 2024 Lok Sabha elections are looming, and the political temptation to spend will be unmissable. A likely slower economic growth next year won’t help either, and high tax revenues can’t be taken for granted. All this makes Budget-framing a challenging exercise.

09 Jan 2023 02:45 PM

Aviation industry seeks tax relief in the Union budget

Source: https://www.livemint.com/budget/expectations/aviation-industry-seeks-tax-relief-in-the-union-budget-11673203382031.html

The civil aviation industry, which is finally experiencing a resurgence after enduring weak demand and debilitating financial losses over the past two years, has seen signs of recovery in the December quarter. The industry now hopes the government will provide relief on taxation in the upcoming Union budget to bring down the cost structure for airports and airlines.

07 Jan 2023 05:03 PM

GST registration applicants’ details will be taken from IT database: CBIC

Source: https://www.livemint.com/economy/gst-registration-applicants-details-will-be-taken-from-it-database-cbic-11673086416685.html

New Delhi: The Central Board of Indirect Taxes and Customs (CBIC) said on Saturday those applying for Goods and Services Tax (GST) registration need not give their mobile phone number and email address.

06 Jan 2023 04:40 PM

11 Changes in GST Utilities/Forms on GST Portal

Source: https://taxguru.in/goods-and-service-tax/11-changes-gst-utilities-forms-gst-portal.html

♦ A taxpayer is suspended on the portal if they do not file six or more consecutive monthly returns /quarterly returns (QRMP) for two tax periods in Form GSTR 3B are issued with a system generated notice for cancellation in Form GST REG-17 for the returns pending to be filed up to the tax period October, 2022 for monthly and up to the September, 2022 quarter for QRMP. This process will be done periodically in the system.

05 Jan 2023 06:10 PM

PM Modi to chair second conference of Chief Secretaries in Delhi on 6 and 7 Jan

Source: https://www.livemint.com/news/india/pm-modi-to-chair-second-conference-of-chief-secretaries-in-delhi-on-6-and-7-jan-11672848337450.html

In a step towards boosting the relationship between the Union and State Government, PM Modi will chair the National Conference of Chief Secretaries in Delhi on 6 and 7 January. This will be the second edition of such a conference with Chief Secretaries, the first such conference was held in Dharamshala in June 2022.

04 Jan 2023 05:50 PM

India’s policy impact challenge: Why it exists and how to meet it

Source: https://www.livemint.com/opinion/columns/indias-policy-impact-challenge-why-it-exists-and-how-to-meet-it-11672766563344.html

In the history of India, there have been critical junctures when the policy terrain saw significant reforms. The past few years make up a transformative period due to a series of major policy initiatives. The policies have spanned various socio-economic and legislative areas, some of the highlights being the implementation of Goods and Services Tax (GST),

03 Jan 2023 06:02 PM

Monthly GST revenues more than Rs 1.4 lakh crore for 10 straight months in a row

Source: https://taxguru.in/goods-and-service-tax/monthly-gst-revenues-1-4-lakh-crore-10-straight-months-row.html

The gross GST revenue collected during December 2022 is Rs 1,49,507 crore, of which CGST is Rs 26,711 crore, SGST is Rs 33,357 crore, IGST is Rs 78,434 crore (including Rs 40,263 crore collected on import of goods) and Cess is Rs 11,005 crore (including Rs 850 crore collected on import of goods).

02 Jan 2023 03:16 PM

GST collection jumps 15% to ₹1.49 lakh crore in December 2022

Source: https://www.livemint.com/economy/gst-collection-jumps-15-to-rs-1-49-lakh-crore-in-december-2022-11672569164471.html

GST revenues rose by 15% in December 2022 to over ₹1.49 lakh crore, the Finance Ministry said on Sunday. "The gross GST revenue collected during December 2022 is ₹1,49,507 crore, of which CGST is ₹26,711 crore, SGST is ₹33,357 crore, IGST is ₹78,434 crore (including ₹40,263 crore collected on import of goods) and cess is ₹11,005 crore (including ₹850 crore collected on import of goods)," the ministry said in a statement. The monthly GST revenues more than ₹1.4 lakh crore for 10 straight months in a row