- 11 May 2022 07:10 PM
- New
GST Council Newsletter for the month of April, 2022
Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-april-2022.html
Gross GST collection in April, 2022 is all time high, Rs. 25,000 crore more than the next highest collection of Rs.1,42,095 crore, just last month.
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- 10 May 2022 07:14 PM
- New
No more GST compensation needed, Centre to tell states
NEW DELHI : The central government is likely to tell states at the next meeting of the Goods and Services Tax (GST) Council that the buoyant GST revenue trend shows that states no longer need funds from the Centre as compensation for the 2017 indirect tax reform.
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- 10 May 2022 07:19 PM
- New
Cryptocurrency conundrum! GST Council mulls imposing heavy tax: Report
In what could further spoil the mood of crypto investors in the country, the goods and services tax (GST) Council is likely to consider imposing 28 per cent tax on cryptocurrencies. The proposal is likely to be tabled in the next GST Council meeting.
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- 06 May 2022 06:20 PM
E-way bill generation dips in April; may hit May’s GST collection
Source: https://www.livemint.com/news/india/eway-bill-generation-eases-a-notch-in-april-11651759680854.html
NEW DELHI : Generation of e-way bills, which are needed to ship goods within and across states, eased a notch in April, suggesting that Goods and Services Tax (GST) collections this month could be lower than the previous month’s record high.
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- 06 May 2022 06:29 PM
GST 2.0: Ideas to improve indirect taxation
While the implementation of GST in India has been commendable, the time is ripe for the government to take note of some of the challenges which the business community at large has been facing, from blockage of working capital to duplicity of assessment proceedings.
India is set to complete five years since the implementation of the Goods and Service Tax Law. The journey of the first half decade of this landmark reform has undoubtedly been a rollercoaster ride with a mixed bag of hits and misses.
- 06 May 2022 06:33 PM
GST Auditor Arrested – Fake ITC Racket Busted by State GST Officers
Enforcement Authorities South Zone, CTD have raided the residential and business premises of a GST Auditor at Bangalore and Davanagere based on field intelligence, data analytics and Police FIR and busted a fake ITC case.
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- 06 May 2022 06:36 PM
One arrested in Nashik in for availing fraudulent ITC of Rs. 27.88 Crores
M/s Hira Steel, Nashik is engaged in the business of trading of steel and scraps. The officers of the Nasik Preventive (Hqrs.), an anti evasion wing of Central Goods and Services Tax, Nashik has inspected/visited the premises of M/s Hira Steel, PAP-54, Near Siemens, MIDC, Ambad, Nashik as per the provision laid down in Section 67(2) of the CGST Act, 2017.
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- 05 May 2022 05:36 PM
Wellness centres part of hotels and resorts liable to pay GST: AAAR
The Appellate Authority for Advance Ruling (AAAR) has said that health therapy services offered by wellness centres that are part of a hotel or resort cannot be classified as ‘health-care service’ and are therefore taxable.
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- 04 May 2022 06:05 PM
Govt may subsume sin goods cess into GST to pacify states
The cess levied on aerated drinks, cigarettes and cars is set to become a bargaining chip in Centre-state talks on GST compensation, with the Centre offering to subsume a part of the levy into the GST rate after March 2026 to placate states, discussions within the government indicate.
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- 03 May 2022 06:26 PM
What is driving up GST collection?
The government’s goods and services tax (GST) collections, taken by analysts as a high-frequency indicator, has witnessed a strong rebound since the first wave of the pandemic. Mint takes a look at what is driving this revenue growth and its implications.
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