15 Mar 2024 05:32 PM
New

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.

14 Mar 2024 06:01 PM
New

Ministry of Home Affairs Extends 50% GST Support for Kendriya Police Welfare

Source: https://taxguru.in/goods-and-service-tax/ministry-home-affairs-gst-support-kendriya-police-welfare.html

Introduction: The Ministry of Home Affairs (MHA) has announced a significant welfare measure aimed at supporting the personnel of Central Armed Police Forces (CAPFs) and their families. Under the leadership of Prime Minister Narendra Modi and Union Home Minister Amit Shah, the MHA has decided to provide 50% financial support on Goods and Services Tax (GST) for purchases made from Kendriya Police Kalyan Bhandar, effective April 1, 2024.

14 Mar 2024 06:04 PM
New

Representation to Resolve GST Section 16(4) Issues

Source: https://taxguru.in/goods-and-service-tax/representation-resolve-gst-section-164-issues.html

Introduction: Mopidevi Venkata Ramana Rao, former Minister of Andhra Pradesh and current Member of Parliament, addresses a crucial issue plaguing businesses across India. In a letter to Hon’ble Finance Minister Nirmala Sitaraman, he advocates for the resolution of challenges surrounding Section 16(4) of the Goods and Services Tax Act, 2017.

14 Mar 2024 05:58 PM

CBI Arrests Inspector CGST While Accepting Bribe

Source: https://taxguru.in/goods-and-service-tax/cbi-arrests-inspector-cgst-accepting-bribe.html

Introduction: In recent developments, the Central Bureau of Investigation (CBI) has made a significant arrest involving corruption. An Inspector from the Central Goods and Services Tax (CGST) department in Rawatpur, Kanpur, has been apprehended for accepting a bribe of Rs. 5000 from a complainant. This incident sheds light on the ongoing efforts to combat corruption within government agencies.

14 Mar 2024 05:55 PM

Maharashtra, Karnataka, UP lead in GST cess collections

Source: https://www.livemint.com/news/india/maharashtra-karnataka-up-lead-in-gst-cess-collections-11710337426452.html

New Delhi: Maharashtra, Karnataka, Uttar Pradesh, Odisha and Tamil Nadu are leading in collecting Goods and Services Tax (GST) cess levied mainly on sale of cars, helping the Centre pay off the market loans taken to give liquidity to states during the pandemic, showed data available from the GST Council for this fiscal up to January 2024.

12 Mar 2024 06:05 PM

Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables

Source: https://taxguru.in/goods-and-service-tax/advisory-gstr-1-iff-introduction-14a-15a-tables.html

Introduction: The recent advisory on GSTR-1/IFF introduces two new tables, 14A and 15A, aimed at capturing amendments related to supplies made through e-commerce operators. This article delves into the implications of these additions for taxpayers and e-commerce operators.

09 Mar 2024 06:11 PM

Meerut CGST Commissionerate Busts Rs. 1,000 Cr ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/meerut-cgst-commissionerate-itc-fraud-bust.html

Introduction: In a significant development, the Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, has successfully uncovered a large syndicate involved in a major Input Tax Credit (ITC) fraud. The investigation, initiated in October 2023, revealed a network of 232 fake firms responsible for fraudulently claiming ITC exceeding Rs. 1,000 crore.

09 Mar 2024 05:57 PM

Govt expands tax refund scheme to cover SEZs, export-oriented units

Source: https://www.livemint.com/industry/govt-expands-tax-refund-scheme-to-cover-sezs-export-oriented-units-11709911358327.html

NEW DELHI : Amidst global economic uncertainties and supply chain disruptions, the government has expanded the scope of a scheme designed to make Indian exports more competitive globally by refunding various central, state and other local duties and taxes.

09 Mar 2024 06:05 PM

GSTN Announcement: E-Waybill Integration with New IRP Portals

Source: https://taxguru.in/goods-and-service-tax/gstn-e-waybill-integration-new-irp-portals.html

Introduction: In a significant development, the Goods and Services Tax Network (GSTN) has successfully integrated E-Waybill services with four new Invoice Registration Portal (IRP) portals via the National Informatics Centre (NIC). This integration expands the scope of E-Waybill generation, aligning it seamlessly with E-Invoicing, and is now accessible across all six IRPs.

08 Mar 2024 06:10 PM

Bengaluru water crisis: Karnataka govt bans drinking water for non-essential use, imposes ₹5,000 fine

Source: https://www.livemint.com/news/india/karnataka-bans-drinking-water-usage-for-non-essential-purposes-water-shortage-bengaluru-news-11709879482250.html

Bengaluru water crisis: Bengaluru district administration sets fixed rates for water tankers based on distance traveled. Private tankers supplying water in drought-prone areas will be subject to GST. Government prioritizes irrigation and water management projects over other endeavors.