- 21 Dec 2023 05:35 PM
- New
Budget 2024-25: NAREDCO seeks funds for completing stressed and stalled residential projects, input tax credit under GST
In its pre-budget recommendations, realtors body NAREDCO has sought ₹50,000 crore more fund under SWAMIH to complete stalled housing projects across the country, saying this will benefit consumers as well as the industry.
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- 21 Dec 2023 05:29 PM
- New
GST Council can vet pleas on GST registration threshold: Finance minister
New Delhi: Finance minister Nirmala Sitharaman on Wednesday said the request from Parliamentarians to raise the sales threshold for Goods and Services Tax (GST) registration can be looked into by the GST Council; however, she added that most small businesses ideally should be part of the GST chain.
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- 20 Dec 2023 04:24 PM
- New
Boon or bane? Decoding the reality of zero-cost EMIs
New Delhi: Fancy the new smartphone launched recently that you want to own but cannot afford? No problem. Buy it now and pay for it over 3-8 months. This must be a loan, you may think. Well, that is true but there’s no interest to be paid. So, essentially, you are buying the phone on an interest-free loan. That’s no-cost EMI (equated monthly instalment) for you, ubiquitously being offered on most purchases, both online and offline. Even school fees can now be funded through such no-cost EMI schemes.
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- 19 Dec 2023 05:52 PM
GST Collection Analysis: State-wise Breakdown and IGST Settlement
The Lok Sabha Unstarred Question No. 2373, scheduled for response on Monday, the 18th of December, 2023, delves into the intricate details of the collection and distribution of Central Goods and Services Tax (CGST), State Goods and Services Tax (SGST), and Integrated Goods and Services Tax (IGST) by the Government of India. Raised by Shri Syed Imtiaz Jaleel, the question seeks comprehensive information on various aspects of the Goods and Services Tax (GST) system, focusing on the financial years over the last half-decade.
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- 19 Dec 2023 05:41 PM
From Jewel Box to Market: 5 ways in which you can invest in gold
The latest series of Sovereign Gold Bonds (SGBs) released between December 18 and 22, 2023, has sparked a revived interest and contemplation among investors regarding gold-oriented investments. For those unfamiliar, SGBs are government securities measured in grams of gold. These bonds act as an alternative to possessing physical gold, representing not just the prevailing market value of gold upon maturity but also being tradable on the stock exchange.
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- 19 Dec 2023 05:48 PM
Madras High Court Ruling: Impact on GST Council’s Recommendations
Introduction: The Madras High Court recently rendered a significant judgment on the nature of GST Council’s recommendations. In response to an unstarred question in the Lok Sabha, Shri Balashowry Vallabhaneni sought clarification on the implications of this ruling. This article delves into the key aspects of the judgment and its potential impact on the government’s authority to modify GST rates based on the Council’s suggestions. Read: GST Council Can Recommend Rates, But Can’t Determine Classification: HC
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- 19 Dec 2023 05:55 PM
Subsuming Fuels Under GST: Government’s Stand and Implications
The inquiry posed by Shri Shyam Singh Yadav in Lok Sabha Starred Question No. 212 casts a spotlight on a pivotal aspect of tax policy— the potential subsuming of fuels like petrol, diesel, natural gas, and Aviation Turbine Fuel (ATF) under the Goods and Services Tax (GST). The question, scheduled for response on December 18, 2023, prompts the Ministry of Finance to elucidate the government’s stance on this matter. Minister of Finance, Shrimati Nirmala Sitharaman’s response, encapsulated in a statement, outlines the constitutional and legislative framework governing the inclusion of these fuels in the GST ambit. Notably, the absence of recommendations from the GST Council thus far underscores the complexity of the decision-making process, with considerations extending beyond fiscal implications to encompass broader economic and policy dimensions.
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- 19 Dec 2023 05:59 PM
GST Compliance in 2023: File GSTR-9, E-invoice, Amnesty Scheme etc.
Introduction: As we step into the dynamic world of Goods and Services Tax (GST) in 2023, businesses are navigating a landscape marked by continual evolution. The compliance journey has become more intricate, with new regulations, opportunities, and tools reshaping the way organizations manage their GST obligations. This comprehensive guide is designed to be your compass through the complexities, offering insights into critical aspects such as filing Annual Returns, exploring the latest enhancements, and seizing opportunities like the Amnesty Scheme. Whether you’re a seasoned taxpayer or a newcomer to GST, this guide will equip you with the knowledge needed to navigate the intricate web of compliance, ensuring not only adherence to regulations but also capitalizing on the benefits offered by the latest changes in the GST ecosystem. Join us on this journey through the nuances of GST in 2023, where compliance meets opportunity and understanding the intricacies leads to a seamless and empowered business experience.
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- 18 Dec 2023 05:28 PM
American Express Membership Rewards Credit Card: From rewards to eligibility; all you need to know
The American Express Membership Rewards Credit Card (MRCC) brings an array of exclusive perks with every purchase. With a joining fee of ₹1,000 and a renewal fee of ₹4,500 (waived on annual spending of ₹1.5 lacs plus), it offers 1 membership reward point for every ₹50 spent (excluding fuel, utilities, insurance, and cash transactions).
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- 18 Dec 2023 05:34 PM
GST Ethology – Suncraft Energy Private Limited Case – Is it a big relief ??
> The dismissal of Department’s SLP against order of Hon’ble Calcutta Hight Court by the Hon’ble Supreme Court in the case of Assistant Commissioner Of State Tax Vs Suncraft Energy Private Limited & Ors. (Supreme Court of India) is labelled as a big relief for taxpayers.
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