Page 4 - Gst

Maharashtra govt wants Centre to waive GST on 'The Kashmir Files'

Maharashtra Deputy Chief Minister Ajit Pawar on Wednesday rejected the demand of BJP legislators to waive tax on Hindi film "The Kashmir Files"

States yet to get Rs 53,661-crore GST compensation: Finance ministry

According to the data tabled by Sitharaman, the highest amount of GST compensation yet to be released will go to Maharashtra, at Rs 11,563 crore.

GST Council should not be politicised, says FM Nirmala Sitharaman

Sitharaman said that the GST Council should not be politicised as it is a body in which every finance minister from every state sits and decides on how the disbursements happen.

Auditing officers lose adjudicating notice power under GST system

Experts allege that auditing and investigating officers were not adjudicating the notices judiciously and were retaining the demands made in them

Addressing uncertainty

Necessary changes in GST must be made in time

BharatPe ready for preliminary govt probe, to comply with law, say sources

BharatPe has already conducted a thorough internal governance review via Alvarez and Marsal, a leading management consultant and risk advisory firm

GST compensation cess period already extended till March 2026: FM

The Union Minister was responding to a query on Karnataka Chief Minister Basavaraj Bommai's statement requesting the Centre to extend the GST compensation period, which ends in June.

Ashneer Grover, wife Madhuri Jain pay Rs 8.2-cr advance tax for FY23

GST authorities are now scrutinising BharatPe books of the last four years to see if bogus invoices were issued for services as well

GST authorities expand probe into alleged tax evasion by BharatPe

GST authorities have expanded the probe into alleged tax evasion by fintech firm BharatPe to include reported issuance of fake invoices by those close to the firm's ousted co-founder Ashneer Grover

GST body finds more instances of tax fraud at fintech firm BharatPe

Bharatpe, In October 2021, had accepted it had issued invoices to non-existent vendors and paid about Rs 11 crore, in dues and penalty, to the tax department

Helpful changes in Customs and GST procedures

Many Customs notifications allow imports at lower or nil rates of duty, specified goo­ds for use in the manufacture of specified products

GST Council may consider raising lowest slab to 8%, rationalise tax slabs

The GST Council in next meet may look at raising the lowest tax slab to 8%, from 5%, and prune the exemption list in the GST regime

Odisha records robust growth rate of 47% in state GST collection

The successful auction of iron ore mines last year by the state government contributed significantly in increasing the tax revenue this year

GST collections up 18%, cross Rs 1.3 trn in Feb despite Omicron curbs

Analysts are confident that GST collection for the current financial year will cross the Budget targets

GST collection up 18% YoY at over Rs 1.33 trn in Feb: FinMin

This is the first time cess collection has crossed the Rs 10,000 crore-mark, signifying recovery in certain key sectors, especially automobile sales

GST intelligence body widens investigation on fintech firm BharatPe

Audit at BharatPe had suggested deeper investigation on deals with non-existent vendors

Officials bust network availing fake input tax credit benefits under GST

Central Goods and Services Tax (CGST) Commissionerate, Mumbai zone, on Friday said it has busted a network involved in availing fake input tax credit benefits under goods and services tax.CGST Commissionerate, Belapur of CGST Mumbai Zone, said it has also arrested the proprietor of Amarnath Enterprises, Navi Mumbai for availing and passing on of fake Input Tax Credit (ITC) of Rs 26.28 crore by issuing bogus invoices to the tune of Rs 132.7 crores.Based on a tip-off received from the Central Intelligence Unit of CGST Mumbai Zone an investigation was initiated, which revealed that only invoices were issued and no supply of goods had taken place, CGST Commissionerate said in a statement.Evidence gathered during the investigation and confession of the proprietor indicated that an offence, as specified in Section 132 of the Central Goods and Services Tax Act, 2017, was being committed with full disregard to the statutory provisions, with an intention to defraud the Government of its due ...

'Gabbar Singh Tax' critique of GST a disservice to our institutions: FM

Nirmala Sitharaman termed the Opposition's criticism of the Goods and Services Tax (GST) as 'Gabbar Singh Tax' as a knee-jerk reaction which is a disservice to the country's institutions.

Singapore to hike taxes on rich as it winds down Covid-19 spending

GST will rise to 8% from January next year and to 9% in 2024, Lawrence Wong said, from 7% now.

GST, raw material costs pushed footwear prices by 20-50% in 1 yr: V Noushad

V Noushad urged the government to take steps to boost the local manufacturing of components, machines and designs in the non-leather category