The GST Council, led by Finance Minister Nirmala Sitharaman, is set to meet on Monday to tackle several pressing issues, with the spotlight on reducing the 18% GST on health and life insurance premiums. While there is growing support for lowering the tax burden, concerns remain over whether the benefits will actually reach policyholders or … Read more
The GST Council on Monday (September 9, 2024) is expected to deliberate on a host of issues, including taxation of insurance premium, GoM’s suggestions on rate rationalisation, and a status report on online gaming, sources said. Sources claimed the fitment committee, comprising Centre and State tax officials, will present a report on GST levied on … Read more
Your GST return filing could see significant changes this month, potentially affecting your compliance and financial reporting processes. From new reporting thresholds and liability adjustments to stricter compliance measures, these changes under Notification No. 12/2024 are set to impact every taxpayer. Here’s what you need to know to stay ahead. How much tax do I … Read more
The Finance Ministry will conduct the Goods and Services Tax (GST) Council Meeting in New Delhi today (June 22). Union Finance Minister Nirmala Sitharaman will presiding over the meeting. Although the meeting’s agenda is yet unknown, it is expected that the state ministers would table their requests. Saturday’s Council meeting will be held after a … Read more
Full Budget 2024: The full Budget 2024 will be tabled next month. On Wednesday, Union Minister for Finance & Corporate Affairs Nirmala Sitharaman chaired the first Pre-Budget consultation meeting with leading economists. The meeting was attended by MoS for Finance Pankaj Chaudhary, the Finance Secretary, and the Secretaries of the Departments of Economic Affairs, Revenue, … Read more
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 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
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
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
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