- 11 Oct 2023 05:52 PM
- New
CBI Arrests CGST Officials in Rs. 25,000 Bribery Case
Source: https://taxguru.in/goods-and-service-tax/cbi-arrests-superintendent-cgst-bribery-case.html
The Central Bureau of Investigation (CBI) has made significant strides in its ongoing mission to combat corruption. In a recent development, four officials of the Central Goods and Services Tax (CGST), including two Superintendents, an Inspector, and a Tax Assistant, were apprehended on charges of engaging in an alleged bribery scheme amounting to Rs. 25,000.
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- 11 Oct 2023 05:48 PM
- New
LIC gets GST notice for paying taxes at lower rate. Details here
The Life Insurance Corporation of India (LIC) on October 11 informed the stock exchanges that it has received a notice for the payment of Goods and Services Tax (GST), along with a penalty and interest, amounting to nearly ₹37,000.
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- 11 Oct 2023 05:42 PM
- New
Sugar stocks: Price surge and ethanol boost fuel interest
The goods and services tax (GST) on molasses has plummeted from 28% to just 5%. Molasses is a byproduct of sugar production. For listed sugar companies though, it would not move the needle. “GST cut on molasses will have little to no impact on sugar companies as there is limited third party purchases of molasses. Most of the molasses used for ethanol manufacturing is sourced internally," said Prashant Biyani, vice president – institutional equity, Elara Capital. Thus, the impact on sugar companies would vary based on a sugar manufacturer’s reliance on external purchases.
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- 10 Oct 2023 06:26 PM
Star Health and Allied Insurance sent GST notice for ₹39 crore by DGGI
Star Health and Allied Insurance company received a notice from the Directorate General of GST Intelligence for payment of tax worth ₹38.99 crore, the insurance firm said in its BSE filing on Monday.
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- 09 Oct 2023 06:10 PM
GST Council tweaks hiring norms for tribunal, clarifies on taxability of corporate, personal guarantees
New Delhi: Goods and Services Tax (GST) Council on Saturday clarified on the taxability of personal and corporate guarantees, tweaked the norms for hiring members and President of GST appellate tribunal and allowed businesses to file appeals despite delays.
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- 09 Oct 2023 06:15 PM
All states for 28% GST on online money gaming effective from 1 October: Revenue Secy Sanjay Malhotra
The clarification comes in the context of some of the states not being able to pass state GST law changes when the new tax regime for online money games kicked in from 1 October as had been decided by the Council, creating some confusion among the industry.
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- 09 Oct 2023 06:18 PM
Reliance General Insurance sent GST notices for ₹922 crore by DGGI
The Directorate General of GST Intelligence (DGGI) has sent four show cause notices for Goods and Services Tax (GST) dues amounting to ₹922.58 crore to Reliance General Insurance Company (RGIC), the crown jewel of Reliance Capital Ltd, reports said on October 8.
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- 09 Oct 2023 06:29 PM
52nd GST Council Meeting Recommendations & Amendments
Source: https://taxguru.in/goods-and-service-tax/52nd-gst-council-meeting-recommendations-amendments.html
The 52nd GST Council Meeting, held in New Delhi on October 7, 2023, witnessed significant recommendations and amendments aimed at simplifying the Goods and Services Tax (GST) system in India. Chaired by Union Minister for Finance & Corporate Affairs, Smt. Nirmala Sitharaman, the meeting addressed various aspects of GST, from rate changes to trade facilitation measures and legal reforms.
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- 09 Oct 2023 06:21 PM
Invest in soft skills for enhanced workforce employability: Maharashtra minister Deepak Kesarkar
New Delhi: While the upcoming interim budget is expected to have welfare schemes that benefit the common man, it should also invest in upgrading soft skills like languages, Maharashtra’s education minister Deepak Kesarkar, who represented the state in the latest GST council meet, told Mint. This, he believes, would empower the country's workforce to fully harness its demographic advantages, particularly in international contexts.
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- 07 Oct 2023 05:13 PM
GST Council meeting today; Here is what to expect
The GST Council is scheduled to convene on Saturday to deliberate on the unresolved reform issues.
The 52nd meeting of the council will take place in the capital city, as announced in a social media post by the council. However, the post did not disclose the precise topics or agenda for the meeting.