26 Mar 2024 06:33 PM
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GST Council Newsletter for February, 2024

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-february-2024.html

Editor2 26 Mar 2024 141 Views 0 comment Goods and Services Tax | News
Introduction: The Goods and Services Tax (GST) Council convened its first National Conference of Enforcement Chiefs in New Delhi, marking a significant step in enhancing tax compliance and combating evasion. Led by the Hon’ble Union Minister for Finance and Corporate Affairs, the conference showcased notable achievements, including substantial strides in detecting tax evasion and fostering collaboration among tax authorities. This article delves into the key highlights and outcomes of the conference, shedding light on the evolving landscape of GST enforcement in India.

26 Mar 2024 06:27 PM
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States may not borrow as much as they wanted. But that may not be a problem.

Source: https://www.livemint.com/economy/states-may-not-borrow-as-much-as-they-wanted-but-that-may-not-be-a-problem-11711275176408.html

New Delhi: State development loans (SDL), or bonds issued by state governments to manage their revenue and fund their fiscal deficit, are unlikely to meet the target for FY24, much like last fiscal.

22 Mar 2024 06:26 PM
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Bihar Settlement of Taxation Disputes Act, 2024

Source: https://taxguru.in/goods-and-service-tax/bihar-settlement-taxation-disputes-act-2024.html

The Bihar Settlement of Taxation Disputes Act, 2024 aims to resolve disputes arising from various taxation proceedings. Enacted against the backdrop of evolving tax laws, it offers a structured mechanism for settling disputes, ensuring efficiency and fairness.The Act covers disputes stemming from a range of tax laws, including the Bihar Finance Act, 1981, Bihar Value Added Tax Act, 2005, and others. It defines crucial terms like ‘dispute,’ ‘settled,’ and outlines the settlement amount calculation methodology.

22 Mar 2024 06:17 PM

Future reforms to focus on harnessing potential of the informal sector

Source: https://www.livemint.com/news/india/future-reforms-to-focus-on-harnessing-potential-of-the-informal-sector-11711094814331.html

New Delhi: Direct and indirect tax changes to help the large informal sector in the country to formalise, scale up and plug into global supply chains will be a key policy goal for the government after the national elections as part of future reforms, according to two persons aware of discussions in the government.

22 Mar 2024 06:21 PM

Supreme Court reserves order on Kerala's borrowing limit challenge

Source: https://www.livemint.com/news/supreme-court-reserves-order-on-keralas-borrowing-limit-challenge-11711104859027.html

The Supreme Court has reserved its judgment in the case regarding borrowing limits between the Union government and the state of Kerala.

22 Mar 2024 06:04 PM

Hindustan Zinc gets ₹91 crore GST demand, Company plans legal challenge, HZL stocks in green

Source: https://www.livemint.com/companies/news/hindustan-zinc-gets-rs-91-crore-gst-demand-company-plans-legal-challenge-hzl-stocks-in-green-11711095444213.html

Hindustan Zinc Limited (HZL), a subsidiary of Vedanta Ltd, disclosed that it has received an order from the Additional Commissioner, Central Excise and CGST Commissionerate, Udaipur, demanding payment under the Central Goods and Services Tax Act, 2017, as per a regulatory filing. The company has been directed to pay ₹91,90,16,104 as GST, along with an equivalent amount of penalty and applicable interest.

19 Mar 2024 05:34 PM

GST council postpones review of 28% levy on online gaming; likely to be taken up after Lok Sabha elections 2024

Source: https://www.livemint.com/economy/gst-council-postpones-review-of-28-levy-on-online-gaming-likely-to-be-taken-up-after-lok-sabha-elections-2024-11710837772748.html

The 28% tax on online gaming was implemented on October 1, 2023, and was scheduled to be reviewed after six months

16 Mar 2024 05:53 PM

CBI Nabs GST, Income Tax Officer and Bank Manager in Bribery cases

Source: https://taxguru.in/goods-and-service-tax/cbi-nabs-gst-income-tax-officer-bank-manager-bribery-cases.html

Introduction: The Central Bureau of Investigation (CBI) has made significant strides in combating corruption by apprehending several government officials involved in bribery cases. This article delves into the details of these arrests, highlighting the alleged offenses and ongoing investigations.

15 Mar 2024 05:17 PM

Lok Sabha Polls 2024: Congress announces 5 guarantees for farmers including GST exemption, legal status to MSP

Source: https://www.livemint.com/politics/news/lok-sabha-polls-2024-congress-announces-5-guarantees-for-farmers-including-gst-exemption-legal-status-to-msp-11710433941819.html

Lok Sabha Elections 2024: The Congress' five guarantees for farmers include the guarantee of legal status to Minimum Support Price (MSP) and to amend GST in favour of farmers.

15 Mar 2024 05:32 PM

Better use of data could help small caps and their investors flourish

Source: https://www.livemint.com/opinion/online-views/better-use-of-data-could-help-small-caps-and-their-investors-flourish-11710425332132.html

It's one thing for financial sector regulators to promote prudence by flagging signs of excessive speculation in any area of the securities market; it's quite another to label a class of shares as inherently risky.