PMI, GST mopup point to India’s resilient economy in Q4

PMI, GST mopup point to India’s resilient economy in Q4

New Delhi: India’s economy started the fourth quarter on a strong note, National Council of Applied Economic Research (NCAER) said in its monthly economic review, Wednesday. NCAER noted that high frequency indicator like Purchasing Managers’ Index and Goods and Services Tax collection indicated a resilient economy with services accelerating and manufacturing gaining momentum. “The markers … Read more

The ten big policy plays: Key economic initiatives India has seen under Modi from 2014 to 2024

The ten big policy plays: Key economic initiatives India has seen under Modi from 2014 to 2024

The goods and services tax, the bankruptcy code, PM-Kisan — key economic initiatives India has seen over the past 10 years. The last decade has also been marked by big social interventions, beginning with the financial inclusion drive launched soon after the NDA came to power in 2014. The results of these measures will serve … Read more

SC notice to Centre on plea by E-gaming Federation against levy of 28% GST on all forms of online real-money gaming

SC notice to Centre on plea by E-gaming Federation against levy of 28% GST on all forms of online real-money gaming

Image for representation purpose only. | Photo Credit: Reuters The Supreme Court on Monday issued notice to the Centre on a plea filed by the E-gaming Federation against the levy of 28% Goods and Services Tax (GST) on all forms of online real-money gaming. A three-judge Bench headed by Chief Justice of India D.Y. Chandrachud … Read more

The Hindu Morning Digest: January 2, 2024

The Hindu Morning Digest: January 2, 2024

Road cracks caused by an earthquake is seen in Wajima, Ishikawa prefecture, Japan on January 1, 2024, in this photo released by Kyodo. | Photo Credit: Kyodo via Reuters Major Japan quake triggers tsunami waves, residents told to run Tsunami waves over a metre high hit central Japan on January 1, 2024, after a huge … Read more

Govt extends deadlines for GST officers to issue demand notices for FY’19, FY’20

Govt extends deadlines for GST officers to issue demand notices for FY’19, FY’20

New Delhi: GST officers have been given more time to issue demand notices for discrepancies in annual returns for 2018-19 and 2019-20 financial years. On Thursday, the government extended the deadline in this regard for 2018-19 fiscal to April 30, 2024 and for 2019-20 fiscal to August 31, 2024. A notification has been issued by … Read more

On offer: Govt mulls some relief on levy of GST on vouchers and gift cards

On offer: Govt mulls some relief on levy of GST on vouchers and gift cards

New Delhi: The government is mulling some relief on the levy of goods and services tax (GST) on vouchers or gift cards offered by companies and retailers, addressing the issue of double taxation in some instances. A host of retailers offer vouchers or gift cards to customers that can be redeemed for their products. A … Read more

A gush of state bonds may upend market dynamics

A gush of state bonds may upend market dynamics

Mumbai: Even as the sword of large-scale open market bond sales by the Reserve Bank of India hangs over the debt market, state governments in the poll season have upset bond traders’ demand-supply calculations by overshooting their stated borrowing plans. So far in October, state government bond issuances have outstripped their indicative calendar by 24%, … Read more

Morning Digest | Gaza crossing opens for foreigners and wounded; October gross GST collections climb to ₹1.72 lakh crore, and more

Morning Digest | Gaza crossing opens for foreigners and wounded; October gross GST collections climb to ₹1.72 lakh crore, and more

This image provided by Maxar Technologies shows overview of Rafah border crossing, between Egypt and the Gaza Strip on November 1, 2023. | Photo Credit: AP Israel-Hamas war | Gaza crossing opens for foreigners and wounded After more than three weeks of siege, the first Palestinians — dozens of dual passport holders and seriously injured … Read more

Online gaming, casinos liable to 28 per cent GST since beginning: ​Revenue Secretary Sanjay Malhotra

Online gaming, casinos liable to 28 per cent GST since beginning: ​Revenue Secretary Sanjay Malhotra

As states like Delhi and Goa raised the issue of tax demand on online gaming companies and casinos retrospectively, Revenue Secretary Sanjay Malhotra on Saturday reiterated that 28 per cent GST was levied on online gaming and casinos even before. “Certain members had raised the issue of retrospective taxation. It was informed to them that … Read more

Show cause notices to e-gaming cos as per legal provisions, GST demand based on data analysis: CBIC chief

Show cause notices to e-gaming cos as per legal provisions, GST demand based on data analysis: CBIC chief

Central Board of Indirect Taxes and Customs (CBIC) Chairman Sanjay Kumar Agarwal addresses conference in New Delhi on September 28, 2023. | Photo Credit: ANI E-gaming companies have been issued show cause notices for alleged GST evasion as per legal provisions, the head of Central Board of Indirect Taxes and Customs (CBIC) Sanjay Kumar Agarwal … Read more