- 09 Sep 2024 06:23 PM
- New
Top Events of the Day: Apple to unveil iPhone 16 at Glowtime event and more
Top Events of the Day: Prime Minister Narendra Modi will meet Abu Dhabi Crown Prince Sheikh Khaled bin Zayed Al Nahyan to discuss key bilateral relations. Meanwhile, Bajaj Housing Finance, India’s second-largest housing finance NBFC, opens its much-anticipated IPO for subscription. In the tech world, Apple is set to launch its highly awaited iPhone 16 series during the 'It’s Glowtime' event.
Read More
- 09 Sep 2024 06:43 PM
- New
Representation to Reduce fees for filing appeal to GST Appellate Tribunal
The All Gujarat Federation of Tax Consultants (AGFTC) and Income Tax Bar Association (ITBA) have submitted a representation to Finance Minister Nirmala Sitharaman, addressing the high fees for filing appeals with the GST Appellate Tribunal. Currently, the fee structure under the GST Act stipulates fees ranging from ₹10,000 to ₹50,000 for appeals, which the associations deem excessive compared to similar provisions under the Income Tax Act. They advocate for a more reasonable fee structure aligned with the income tax appeals process, where fees range from ₹500 to ₹10,000. The suggested revisions would impose a fee of ₹1,000 to ₹10,000 depending on the case’s tax or input tax credit involved, ensuring a fairer and more accessible appeal process for taxpayers. The associations request the government to consider these changes to create a more equitable and streamlined taxation system under GST, benefiting both taxpayers and businesses.
Read More
- 09 Sep 2024 06:27 PM
- New
GST Council meeting today: Delhi govt to oppose Goods and Services Tax
GST Council meeting today: Delhi govt to oppose Goods and Services Tax on payment gateway; ‘hypocrisy’ says Atishi
Read More
- 09 Sep 2024 06:40 PM
Auto industry contributes nearly 15 per cent to total GST, says SIAM President
Auto sector contributes nearly 15 per cent to total GST, says SIAM president, as industry crosses ₹20 lakh crore mark
Read More
- 07 Sep 2024 05:46 PM
Foreign airlines, IT services, pvt R&D on GST Council agenda
On Monday, the Goods and Services Tax (GST) Council will take up the issue of taxing services related to foreign airlines in India, relief for certain helicopter services, work related to software exporters such as Infosys Ltd, and core research by private enterprises.
Read More
- 06 Sep 2024 06:47 PM
The week in charts: GDP forecast, Adani shopping list, ₹250-SIP
Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The World Bank upgraded its FY25 GDP forecast for India and Adani group is looking to acquire multiple FMCG businesses. Meanwhile, GST on health and life insurance premia could be discussed at the GST council meeting on Monday.
Read More
- 06 Sep 2024 06:49 PM
Parking at Delhi airport costs ₹5,770; then, owner finds the car damaged: Man describes ’worst experience’
Deepak Gosain was handed a staggering bill of ₹5,770 for parking his car at the Delhi's IGI Airport, which comprised of ₹4,889.83 in parking fees and ₹880.17 in GST.
Read More
- 06 Sep 2024 06:45 PM
Electric vehicles don’t need subsidies now, says transport minister Nitin Gadkari
Nitin Gadkari pointed to falling battery costs and low GST as reasons subsidies on EVs are no longer needed, with price parity expected in two years.
Despite government efforts, only 5.28% of two-wheelers and 1.99% of four-wheelers sold since 2018 are electric.
- 05 Sep 2024 06:17 PM
GST Council meeting: Big relief may be coming for policyholders. Details here
GST Council meeting: Planning to buy insurance? Hold on! Major relief may be coming for policyholders. Details here
The 54th GST Council meeting on September 9, 2024, may address removing the 18 percent GST on term life insurance premiums, a demand from various stakeholders aiming to reduce costs for consumers and promote insurance uptake in India.
- 04 Sep 2024 06:10 PM
GSTN to roll out invoice management system from October 1; details here
In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched.
Read More