Page 32 - Gst

Budget 2020: SIAM seeks incentive-based scrappage policy, GST rate cut

Seeking a turnaround in fortune, the auto industry has been seeking government support and reduce the burden of transition to BS-VI with lower GST rate

Income mismatch probe: 5,000 companies under tax department lens

The Central Board of Direct Taxes has directed its tax sleuths to intensify enforcement action and launch search-and-survey operations against these firms

GST arrest provisions: Need for an urgent review

What GST urgently deserves is a re-orientation, for which a leaf out of the 'nudge theory' in behavioural economics may definitely help

Allcargo acquires nearly 13% stake in Gati in first of three-phased buyout

Several taxpayers complained of technical glitches on filing returns on social media

Budget 2020: DPIIT seeks more funds to boost infrastructure in hinterland

The government had severely cut down on expenditure in this area, with the 2019-20 (FY20) Budget providing Rs 909 crore, down from the RE of Rs 1,707 crore in the earlier one.

HC clears confusion over contentious issue of composite supply under GST

The company went to the Kerala high court against the judgement. The high court wondered as to how AAR came to the conclusion that it was a composite supply

Govt may propose GST refunds on capital goods purchases to exporters

Currently, under the LUT route, they need not pay tax on their export bills, but they stand to lose refunds on taxes paid on capital goods. Taxes on all other inputs get refunded

Over 1,200 exporters untraceable; govt saves Rs 350 cr fake IGST refund

Central Board of Indirect Taxes and Customs has obligated customs brokers under their licensing conditions to independently verifying the KYC of exporters

Will urge FM to probe alleged avoidance of GST by Amazon, Flipkart: CAIT

The CAIT also said the visit of Jeff Bezos, founder of Amazon, on Wednesday to India will be greeted with strong protest from traders across country

Revenue dept detects 931 fraudulent GST claim cases through data analytics

Refunds of over Rs 28,000 crore are said to have been filed by over 27,000 taxpayers so far on account of inverted duty structure in the current financial year

Checking fraud in revenue leakage

One measure being considered is to link foreign exchange remittances with refund of IGST for risky and new exporters, apparently to curb fraudulent IGST refund claims

Amid revenue shortage, govt begins audit of GST returns for FY 2017-18

The instruction is that audit of large units be completed within seven working days, of medium units in five working days and of small ones in three

Dealing with GST fraud

Balance between ease of doing business and compliance is tricky

Best of BS Opinion: Dealing with GST fraud, India's GDP growth, and more

With a fresh assessment of the state of the economy, all stakeholders would now look forward to the Union Budget to see how the government plans to revive growth

Telecom industry urges govt to facilitate funding at lower interest rate

Representatives from the industry met telecom ministry officials to communicate their suggestions to help the debt-ridden sector

Ease of living, in a punitive state

Under this government, slogans, memes, catchphrases, alliterative coinages, and clever abbreviations abound. One of them being repeated ad nauseam is ease of living

States face over Rs 1 trillion revenue gap post GST compensation withdrawal

At the time of implementation of the Goods and Services Tax (GST) on July 1, 2017, the Centre had promised to compensate states for loss of revenue for five years at an agreed formula

Finance Ministry ramps up efforts to meet direct tax collection targets

Field officers were asked to make efforts to identify and initiate actions against willful tax evaders or those using fake invoices or e-way Bills

Revenue Secy asks tax officials to put special efforts to check evasion

Direct tax collection target for the current fiscal has been pegged at Rs 13.35 lakh crore despite corporate tax relief of 1.45 lakh crore

Govt's sops for auto sector: Hero reiterates demand of cutting GST

Hero's stance brings to fore the difference between them and rival Bajaj Auto which wants a GST cut closer to BSVI norms kicking in