- 10 Jul 2023 06:02 PM
- New
‘Business confidence improved in June qtr’
Business confidence in India has improved in Q2 2019, according to a survey by the Confederation of Indian Industry (CII). The CII's Business Confidence Index increased to 66.1 in Q2, up from 64 in the previous quarter. The survey also found that businesses are optimistic about prospects for fresh private investments, with the majority of respondents expecting the economy to grow at 6-7% this fiscal year. However, concerns were raised over slowing growth in developed economies and geopolitical risks impacting economic growth in the future.
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- 10 Jul 2023 06:06 PM
- New
Representation for Extension of various GST Amnesty schemes under GST
Source: https://taxguru.in/goods-and-service-tax/representation-extension-various-gst-amnesty-schemes.html
Income Tax Bar Association and All Gujarat Federation of Tax Consultants jointly make a representation for the extension of various Amnesty schemes under GST that ended on June 30, 2023. Read the full text of the representation and their requests for an extension until September 30, 2023.
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- 07 Jul 2023 05:38 PM
- New
Goods transit strong despite June decline
Source: https://www.livemint.com/economy/goods-transit-strong-despite-june-decline-11688663742387.html
Data from Goods and Services Tax Network which processes GST returns, showed that 56 million permits were raised for intra-state movement and 30 million permits for inter-state goods movement in June, against 56.7 million intra-state and 31.5 million inter-state e-way bills raised in May.
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- 07 Jul 2023 05:41 PM
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
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
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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