- 05 Apr 2024 06:12 PM
- New
SC directs collective hearing for online gaming GST cases
NEW DELHI : The Supreme Court has consolidated multiple pleas challenging the 28% GST on online gaming companies, ordering the transfer of 27 writ petitions to be heard together.
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- 04 Apr 2024 06:25 PM
- New
Trends and Growth In GST Collection
Source: https://taxguru.in/goods-and-service-tax/trends-growth-gst-collection.html
The financial year 2023-24 has ended on a high note, from GST view point. GST collection has once again been robust in March, 2024. GST collection is second highest monthly Gross GST Revenue collection in March, 2024 at Rs. 1.78 lakh crore which records 11.5% y-o-y growth (18.4% on net basis). FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.14 lakh crore exceeding Rs.20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for fiscal year 2023-24 stands at Rs.1.68 lakh crore, surpassing the previous year’s average of Rs.1.5 lakh crore. GST revenue net of refunds as of March, 2024 for the current fiscal year is Rs.18.01 lakh crore which is a growth of 13.4% over same period last year.
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- 04 Apr 2024 06:18 PM
- New
Get GST reform rolling: Review rate slabs
Summary
GST revenue buoyancy should close the chapter of a shortfall cess and prompt reforms aimed at tax simplification. For GST to fulfil its basic promise, start by reducing rate slabs.
- 03 Apr 2024 05:34 PM
WinZO Games posts ₹120-crore operating profit in FY23 after similar loss in FY22
Mumbai: WinZO Games, a homegrown, vernacular, social-gaming startup with more than 175 million users, has posted an operating profit of ₹120 crore in FY23, after positing a ₹120 crore loss in FY22, according to financials submitted to the Ministry of Corporate Affairs.
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- 03 Apr 2024 05:30 PM
Govt’s FY24 tax collection target broadly met on back of robust economic activity: Report
The central government’s tax collection target of over ₹34.37 lakh crore for fiscal year 2023-24 (FY24) has been broadly met on the back of robust economic activity and improved compliance, according to a report by PTI.
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- 03 Apr 2024 05:23 PM
GST upsurge: This tax needs to be tweaked
Summary
For 2023-24, India’s GST revenue crossed ₹20 trillion. If its weak mop-ups are firmly in the past, at long last, we must go for slab and rate reforms.
- 03 Apr 2024 05:07 PM
Hybrid cars can act as a bridge to carbon-free mobility
Summary
India should rethink GST policy in support of hybrid vehicles as a pathway to exhaust-free roads. It could smoothen the transition while infrastructure for EVs takes time to emerge.
- 01 Apr 2024 06:18 PM
Looking for a home loan? Here are 4 things you need to know about processing fees
A home loan processing fee is a singular fee imposed by lenders for evaluating your home loan application. This fee primarily includes the expenses associated with verifying your income and employment information, assessing your creditworthiness, and assembling all the required documentation for your loan. The processing fees for home loans usually vary between 0.25% and 1% of the loan amount. Additionally, some lenders may have a set fee amount.
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- 01 Apr 2024 06:07 PM
Nitin Gadkari vows to eliminate petrol, diesel vehicles in India soon: 'Not impossible'
Union Minister for Road Transport and Highways Nitin Gadkari has said that it is ‘one hundred per cent’ possible for the country to get rid of petrol and diesel cars altogether to make India a green economy.
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- 01 Apr 2024 06:21 PM
Zomato gets GST demand order of ₹23.26 crore for FY 2018-19
Online food delivery platform Zomato said, on March 31, that the company has received a GST demand order worth ₹23.26 crore for FY 2018-19 from Karnataka tax authorities, on March 30. The demand order has been received in respect of excess availment of input tax credit and interest, penalty thereon, the company said in an exchange filing.
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