- 05 Jan 2024 05:31 PM
- New
Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act, cites 'wrong transition of CENVAT credit'
Vodafone Idea Limited on 4 January announced that it will take appropriate legal action for rectification and reversal of an order it received under the Central Goods and Services Tax Act, 2017, entailing a penalty of ₹10.76 crore.
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- 05 Jan 2024 05:39 PM
- New
Data recap: GST, car sales, shipping cost
Source: https://www.livemint.com/economy/data-recap-gst-car-sales-shipping-cost-11704367376974.html
Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The Centre’s goods and services tax (GST) collections grew 10.3% year-on-year to ₹1.65 trillion in December. Meanwhile, the recent attacks on vessels in the Red Sea have led to a surge in shipping costs.
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- 05 Jan 2024 05:46 PM
- New
Hat-trick on cards? Dividends from CPSEs may cross ₹50,000 crore this year too: Report
Dividends from central public sector enterprises (CPSEs) are likely to cross ₹50,000 crore during the current fiscal for the third year in a row. It has already exceeded the Budget Estimate (BE) during the current fiscal year, reported Business Line.
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- 05 Jan 2024 05:50 PM
SC issues Notice to to Finance Ministry on GST Return Revision Option on Portal
Pradeep Kanthed Vs. Union of India and Ors (Supreme Court of India)
Introduction: The Supreme Court of India, in the case of Pradeep Kanthed v. Union of India and Ors [Writ Petition (Civil) No. 1006/2023], issued a notice to the Finance Ministry on January 2, 2023. The notice addresses concerns raised by the petitioner regarding the absence of an option for revised returns on the GST portal, creating issues for GST-registered persons and dealers.
- 05 Jan 2024 05:42 PM
Budget 2024: From GST reduction to expansion of Section 80 C, here's what the insurance sector is expecting
Ahead of the Lok Sabha elections, all eyes will be on the interim budget presented by Finance Minister Nirmala Sitharaman on February 1, 2024. Experts are of mixed opinion about whether the budget will be more inclined to populist measures or fiscal prudence.
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- 03 Jan 2024 05:35 PM
LIC share price rises over 1% even as the insurer gets penalty notice worth ₹116 crore
Life Insurance Corporation of India (LIC) share price: LIC share price rose 1.8% on Wednesday's trading session despite the insurer's announcement on Tuesday that tax authorities had issued a demand notice for approximately ₹116 crore due to nonpayment of Goods and Services Tax (GST) for the 2017–18 tax year. LIC share price today opened at ₹838.80 apiece on BSE. LIC share price touched an intraday high of ₹853 and an intraday low of ₹837.45. According to Ruchit Jain, Lead Research Analyst at 5paisa, LIC share price has been forming higher top higher bottom. The 20 DEMA support is placed around ₹800, followed by a swing low at 746.
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- 02 Jan 2024 05:42 PM
HUL hit with ₹447.5 crore GST demands and penalties
Leading FMCG maker Hindustan Unilever Ltd on Monday said it has received Goods and Services Tax demands and penalties totalling ₹447.5 crore from the authorities.
In a regulatory filing, HUL -- which owns brands such as Lux, Lifebuoy, Surf Excel, Rin, Pond's and Dove -- said these "orders are currently appealable" and it will make an assessment.
- 02 Jan 2024 05:21 PM
Indian stock market: 6 things that changed for market overnight - Gift Nifty, rise in oil prices to steady dollar
Indian stock market: The domestic equities are likely to open on a positive note Tuesday following mixed cues from global peers.
The Asian markets traded mixed while the US stock futures were flat after returning from a holiday. Investors await key economic data from the Asian region, while keeping an eye on crude oil prices amid tensions in the Red Sea.
- 02 Jan 2024 05:48 PM
12% Y-o-Y Growth, ₹14.97 Lakh Crore GST Collection in April-Dec 2023
Posting a growth rate of 12% Y-o-Y, 14.97 lakh crore gross GST collection during April-December 2023 period
Gross GST collection averages 1.66 lakh crore in first 9 months of FY24
1,64,882 crore gross GST revenue collection for December, 2023
- 01 Jan 2024 05:53 PM
Asian Paints gets tax demand of ₹13.83 crore, penalty of ₹1.38 cr from Tamil Nadu GST authority
Asian Paints on Monday said that it has received ₹13.83 crore tax demand, with a ₹1.38 crore penalty from the Deputy Commissioner of State Tax, Chennai, Tamil Nadu.
"An order passed under relevant provisions of the Central Goods and Services Tax Act, 2017 and the corresponding provisions... demanding additional tax on outward supplies, disallowance on account of account of Input Tax Credit (ITC) mismatch between the purchases reported by the supplier in GT return and credit claimed by the company....," Asian Paints said.