Responding to a question about business-to-consumer (B2C) shopkeepers whose daily sales are in lakhs but are not giving receipts and do business in cash, Vivek Johri said that B2C business is a matter of concern.
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New Delhi: Beefing up the taxpayer roll is the next big task for the Central Board of Indirect Taxes and Customs (CBIC), said the chairman of the body that’s helped stabilize revenue collections and take measures to decriminalize violations—essential ingredients of tax reform.
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FM Sitharaman said post GST induction, Kerala has not sent AG certificate for GST compensation for 5 years
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Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-month-january-2023.html
On 26th January, the Country celebrated the 74th Republic Day therein honoring the adoption of our Constitution that has vested the supreme authority of the Republic in “We, the people”. Our country is entering into a crucial phase wherein we as a nation endeavor to achieve an empowered and inclusive economy over the next 25 years in lead up to the 100 years of our Independence.
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Source: https://taxguru.in/goods-and-service-tax/cbi-registers-case-assistant-commissioner-cgst.html
CBI REGISTERS A CASE AGAINST AN ASSISTANT COMMISSIONER OF CGST & HIS WIFE ON THE ALLEGATIONS OF POSSESSING DISPROPORTIONATE ASSETS AND RECOVERS CASH OF Rs.42 LAKH(APPROX) DURING SEARCHES
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The officials were apparently investigating possible GST violations by the company, a 50:50 joint venture between the Adani conglomerate and Singapore-based Wilmar.
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The industry is seeking a reduction in the tax rate on the construction material as it will help to lower the cost of projects.
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The suggestion comes at a time the Central government has scaled up its capital expenditure from ₹7.28 trillion in FY23 to ₹10 trillion in FY24 in the Union budget presented on 1 February.
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Source: https://www.livemint.com/news/india/gst-clarity-on-crypto-assets-may-take-time-11675792305063.html
New Delhi: Plans to bring in more clarity on whether or not the Goods and Services Tax (GST) is appliable for certain types of crypto asset transaction are likely to take more time as policy makers await the outcome of an investigation into specific cases.
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India's government will likely not contemplate merging tax rates for the Goods and Services Tax (GST) regime in the financial year FY24 to maintain stability. The plan of overhauling tax rates in GST has taken rounds for more than a year now.
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