20 Jan 2024 05:43 PM
New

GSTN Advisory on payment through Credit/Debit cards and UPI

Source: https://taxguru.in/goods-and-service-tax/gstn-advisory-payment-credit-debit-cards-upi.html

In a move to enhance the convenience for taxpayers registered under the Goods and Services Tax (GST), the GSTN (Goods and Services Tax Network) has introduced two new methods of payment under e-payment. This Advisory aims to guide taxpayers on making payments through Credit Card (CC), Debit Card (DC), and Unified Payments Interface (UPI) in addition to the existing net-banking option.

19 Jan 2024 06:59 PM
New

Budget 2024: ITR deadline should be extended, says Hiren Thakkar of Hiren S Thakkar and Associates

Source: https://www.livemint.com/money/personal-finance/budget-2024-expectations-income-tax-itr-deadline-should-be-extended-says-hiren-thakkar-80c-gst-returns-filing-11705595454549.html

Budget 2024 : The government undertook the rationalisation of income tax slabs and launched a new tax regime in which tax rates were highly reduced, addressing a long-standing need in the last Budget, says Hiren Thakkar, Proprietor, Hiren S Thakkar & Associates Chartered Accountants.

19 Jan 2024 06:56 PM
New

Budget 2024 expectations: From FAME scheme subsidy extension to GST reduction, here is the EV sector wish list

Source: https://www.livemint.com/companies/budget-2024-from-fame-scheme-extension-to-gst-reduction-here-are-the-key-expectations-ev-sector-electric-vehicle-11705596140322.html

Budget 2024: After years of capital infusion in the electric vehicle sector with the help of subsidies and tax exemptions, EV industry stalwarts believe that a prolonged subsidy and tax exemptions would catalyse the growth of the EV segment in the country.

19 Jan 2024 06:50 PM

‘New GST burden may make biz unsustainable’

Source: https://www.livemint.com/companies/news/new-gst-burden-may-make-biz-unsustainable-11705594398522.html

New Delhi: Gaming companies have been grappling with the swift changes in the newly imposed GST tax liability on them. In the Supreme Court, there are two cases, one for the new GST tax which the industry has been lobbying against and another which is opposing a retrospective tax liability on the GST. Amid this, one company that functions as a business unit of Baazi Games—SportsBaazi—said there could be a time when gaming companies would find it unsustainable to not be able to pass on the tax burden to the consumer. For now, their business, the company’s co-founders, Saurabh Chopra and Puneet Dua, said has had to pivot the business model to creating additional revenue streams, to mitigate the impact.

18 Jan 2024 05:36 PM

Budget 2024: From removal of STT to crypto regulation, ICRA predicts these changes for markets, MFs and taxation

Source: https://www.livemint.com/money/personal-finance/budget-2024-expectations-stt-crypto-markets-taxation-mutual-funds-dividends-capital-gains-nps-life-insurance-11705481351271.html

ICRA Analytics anticipates several potential changes in the upcoming Interim Union Budget for the fiscal year 2025. The Budget will be announced on February 1, 2024. Since the general elections will be held in May, this will be the Interim Budget and a new Budget will be presented in July.

18 Jan 2024 05:29 PM

Tata Motors warns against lower GST for hybrid vehicles

Source: https://www.livemint.com/auto-news/tata-motors-warns-against-lower-gst-for-hybrid-vehicles-11705509294059.html

Any attempt to lower tax rates levied on hybrid cars will confuse the industry and “spread thin" the government’s efforts to achieve its net-zero objectives, a senior official of Tata Motors, the country’s leading passenger electric vehicle maker, cautioned on Wednesday.

18 Jan 2024 05:41 PM

Income tax to GST: Can Budget 2024 turn out to be a paperless paradise for taxpayers?

Source: https://www.livemint.com/money/income-tax-to-gst-can-budget-2024-turn-out-to-be-a-paperless-paradise-for-taxpayers-11705561949535.html

On 1 February, Union Finance Minister Nirmala Sitharaman will present the Budget 2024-25 in Lok Sabha. The Union Budget 2024 is an interim budget because Lok Sabha elections are due early next year. The full budget will be after forming a new government

18 Jan 2024 05:47 PM

Budget 2024: Small Businesses Want More Jobs, Regulation Of E-Commerce & Reduction In GST Compliance

Source: https://www.livemint.com/industry/budget-2024-brew-alcobev-players-pitch-for-uniform-tax-excise-duty-cuts-ena-price-relief-input-tax-credit-hold-key-11705561980636.html

As India is getting ready for the annual budget announcement, the alcoholic beverage industry is brimming with expectations and anxieties. From calls for a unified tax structure to pleas for export incentives, industry leaders have laid out their wish list for Finance Minister Nirmala Sitharaman.

17 Jan 2024 06:23 PM

Million electric bus plan nears gates of PMO

Source: https://www.livemint.com/news/india/million-electric-bus-plan-nears-gates-of-pmo-11705429414710.html

The Prime Minister’s Office (PMO) will take the final decision on a plan to replace a million diesel-run buses on Indian roads with electric options over the next decade through subsidies and other regulatory interventions, people aware of the matter said.

15 Jan 2024 05:19 PM

Budget 2024: NRAI calls for reforms in restaurant industry

Source: https://www.livemint.com/industry/budget-2024-nrai-calls-for-reforms-in-restaurant-industry-11705311996647.html

New Delhi: The National Restaurant Association of India (NRAI) has called for key reforms aimed at a comprehensive overhaul of the restaurant industry.