07 Mar 2024 06:16 PM
New

Navigating the evolution of Input Service Distributor under GST

Source: https://economictimes.indiatimes.com/small-biz/gst/navigating-the-evolution-of-input-service-distributor-under-gst/articleshow/108287286.cms

ISD scheme enables distribution of ITC received at one location across other branches of a company. It ensures that ITC is allocated in adherence to the prescribed documentation and other legal requirements.

07 Mar 2024 06:24 PM
New

Finance Head of a firm arrested for GST evasion to the tune of Rs 88 crore

Source: https://taxguru.in/goods-and-service-tax/finance-head-firm-arrested-gst-evasion-tune-rs-88-crore.html

Introduction: The Ministry of Finance recently made headlines with the arrest of the Finance Head of a prominent firm for alleged GST evasion amounting to a staggering Rs 88 crore. This incident, which unfolded in Mumbai, has raised significant concerns about tax compliance and the enforcement of GST regulations.

06 Mar 2024 06:01 PM
New

Delhi should get its share of taxes from Centre, says FM Atishi

Source: https://www.livemint.com/economy/delhi-should-get-its-share-of-taxes-from-centre-says-atishi-singh-11709651856802.html

New Delhi: The Delhi state government should get a share of the union government’s taxes devolved to states as per a formula to be set by the Finance Commission, Delhi finance minister Atishi said on Tuesday.

05 Mar 2024 06:04 PM

Govt likely to consider tax cuts on flex-fuel vehicles

Source: https://www.livemint.com/auto-news/govt-likely-to-consider-tax-cuts-on-flex-fuel-vehicles-11709628033061.html

New Delhi: The Union government is considering a demand for reducing taxes on flex-fuel, or dual-fuel, vehicles, a move that could accelerate the push for cleaner transportation.

05 Mar 2024 05:57 PM

Make tax system more open, efficient: Nirmala Sitharaman to officials

Source: https://www.livemint.com/economy/make-tax-system-more-open-efficient-nirmala-sitharaman-to-officials-11709571267542.html

New Delhi: Finance minister Nirmala Sitharaman on Monday asked Goods and Service Tax (GST) officials to work towards making the tax regime more transparent and efficient, while also leveraging technology to step up user experience and preventing evasion.

04 Mar 2024 05:49 PM

‘India worse than Pakistan,’ Rahul Gandhi accuses PM Modi of ‘finishing’ small businesses

Source: https://www.livemint.com/news/india/india-worse-than-pakistan-rahul-gandhi-accuses-pm-modi-of-finishing-small-businesses-11709451385243.html

Rahul Gandhi believes Prime Minister Narendra Modi has “finished" small businesses in India. He, during a speech in Madhya Pradesh, was speaking about India's unemployment woes. He mentioned that India’s unemployment had surpassed Pakistan, Bangladesh and Bhutan.

02 Mar 2024 05:31 PM

Ministry of Finance: ₹1.68 Trillion GST Collection Surpasses Expectations

Source: https://taxguru.in/goods-and-service-tax/ministry-finance-gst-collection-feb-2024-analysis.html

The Ministry of Finance recently announced impressive figures regarding the Goods and Services Tax (GST) revenue collection for February 2024. With a substantial increase in collections compared to the previous year, the data underscores positive economic trends and fiscal stability. This article delves into the specifics of the announcement, analyzing the figures and their implications.

02 Mar 2024 05:25 PM

Improved tax collections, manufacturing bolster India's economic growth credentials

Source: https://www.livemint.com/economy/gst-pmi-numbers-bolster-indias-economic-growth-credentials-11709300923980.html

New Delhi: The Indian economy's sharp acceleration in the December quarter has been bolstered by equally impressive tax collections and growing momentum in manufacturing.

01 Mar 2024 06:20 PM

Real money gaming sector pulling back on ads

Source: https://www.livemint.com/news/india/real-money-gaming-sector-pulling-back-on-ads-11709217575042.html

New Delhi: The structural changes taking place in the gaming industry are likely to have a significant impact on the advertising world by the end of FY24. Ad spends in India are expected to grow at a slower pace of 6%, down from 12% in the previous year, by the close of the year touching $16-17 billion. A decline in consumer spending over the past five to six quarters has reduced private equity and venture capital funding for various sectors. There has also been the drastic impact of the implementation of 28% GST on online gaming, according to a new report from RedSeer.

01 Mar 2024 06:23 PM

State-level rumbles in the Indian federation: Can the 16th FC help?

Source: https://www.livemint.com/opinion/online-views/statelevel-rumbles-in-the-indian-federation-can-the-16th-fc-help-11709207501212.html

These are tumultuous times, with the resurgence of farmer unrest. Earlier in February, there was a state rebellion about unfair fiscal treatment by the Union government which was more worrying, and not just because the chief ministers of aggrieved states staged a street protest in Delhi.