- 05 Feb 2024 05:44 PM
- New
Will stop abuse of GST flexibility by buyers and sellers: Revenue secretary
NEW DELHI : The government will take steps to prevent evasion of Goods and Services Tax (GST) by entities abusing the flexibility given to businesses to correct errors in transaction, revenue secretary Sanjay Malhotra said in an interview.
This will be done by proper validation of transactions and claims without affecting genuine tax payers. The move is part of efforts to ensure that tax revenue collection grows faster than economic growth rate in nominal terms.
- 05 Feb 2024 05:41 PM
- New
Karnataka fixes uniform fare for taxis including Uber, Ola: Check new fare structure here
The Karnataka Transport Department announced new fare structure for city taxis and those operating through app-based aggregators like Uber and Ola on Saturday.
As per the new order released by the department, fares for app-based cab aggregators, as well as city taxis, would be uniform. Also, the revised fares would be applicable across the state with immediate effect, news agency PTI reported.
- 05 Feb 2024 05:38 PM
- New
Pan masala, gutka, and similar tobacco product makers to face ₹1 lakh penalty, if…
New Delhi, Feb 4 (PTI) Manufacturers of pan masala, gutka and similar tobacco products will have to pay a penalty of up to ₹1 lakh, if they fail to register their packing machinery with the GST authorities with effect from April 1.
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- 03 Feb 2024 06:11 PM
GST revenue to outpace GDP growth till high compliance: CBIC chair
NEW DELHI : Goods and Services Tax (GST) revenue collection of central and state governments will continue to grow at a faster pace than nominal GDP growth rate till very high tax compliance level is achieved, after which, the tax on consumption will grow in sync with the rate of economic expansion, Central Board of Indirect Taxes & Customs (CBIC) chairman Sanjay Kumar Agarwal said in an interview.
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- 02 Feb 2024 06:44 PM
Average Monthly Gross GST Collection Doubles To Rs. 1.66 Lakh Crore
In a significant announcement during the Interim Budget 2024-25, Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman, highlighted the remarkable success of the Goods and Services Tax (GST) regime in India. The minister emphasized the positive impact of GST on trade and industry, reducing compliance burdens and optimizing supply chains.
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- 02 Feb 2024 06:31 PM
Budget in 5 minutes
Source: https://www.livemint.com/economy/budget-in-5-minutes-11706848155581.html
On 1 February, finance minister Nirmala Sithamran presented her sixth budget. Her budget speech was all of 5,244 words and shorter in comparison to the five speeches she gave before this one. Notwithstanding the shorter duration of the speech, the interim budget did have its interesting points. Mint examines a few major ones.
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- 01 Feb 2024 06:45 PM
Fiscal deficit moderates; GST revenue soars in January
Two sets of data released by the government on the eve of the interim budget painted a picture of healthy fiscal performance.
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- 01 Feb 2024 06:38 PM
GST collections rise 10% to ₹1.72 lakh crore in January
With overall collection reaching ₹16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period
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- 01 Feb 2024 06:51 PM
Budget 2024 expectations: Physics Wallah's Prateek Maheshwari seeks higher budget for education sector, GST cut
Union Finance Minister Nirmala Sitharaman is all set to present the Interim Budget 2024 on February 1. In an interaction with Livemint, co-chair of India Edtech Consortium (IEC) and co-founder of Physics Wallah Prateek Maheshwari speaks about artificial intelligence (AI) integration in the edtech sector. Maheshwari also shared his expectations from the Interim Budget. Edited excerpts from the interview.
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- 01 Feb 2024 06:57 PM
Budget 2024: Boost for auto PLI, sharp cut for FAME scheme
New Delhi: The interim budget for FY25 on Thursday announced an over seven-fold increase in allocation for the automotive industry's PLI scheme, but reduced the outlay for the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme by over 44%.
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