ANI New Delhi November 12, 2022 13:05 IST Updated: November 12, 2022 16:12 IST ANI New Delhi November 12, 2022 13:05 IST Updated: November 12, 2022 16:12 IST As per information, the raids were conducted in a joint operation with Gujarat GST at locations in districts such as Surat, Ahmedabad, Jamnagar, Bharuch and Bhavnagar over … Read more
The aggregate indebtedness of states – measured by debt to gross state domestic product (GSDP) – is expected to remain at 30-31% of their respective GDP this fiscal, almost at the same levels of FY’22 due to flattish growth in fuel tax and discontinuation of GST compensation according to ratings firm Crisil Besides, sticky revenue … Read more
Employers will no longer require to deduct GST on the subsidised meal cost recovered from their employees, the Authority of Advance Ruling (AAR) said on Tuesday. The Gujarat bench of the AAR gave the ruling after Zydus Lifesciences approached the authority to seek clarification on whether GST would be levied on the amount deducted from … Read more
Commerce and Industry Minister Piyush Goyal will meet different export promotion councils on October 7 to discuss ways to promote the growth rate in the country’s outbound shipments, an official said. The meeting assumes significance as India’s exports contracted by 3.52 per cent to USD 32.62 billion in September against USD 33.81 billion in the … Read more
The panel of states’ finance ministers on casino and online gaming taxation is likely to submit the final report in 7-10 days. The Group of Ministers (GoM), headed by Meghalaya chief minister Conrad Sangma, will however, meet stakeholders said seek legal opinion before submitting the final report. “After taking the opinion of stakeholders and after … Read more
The government is expecting the economy to grow at 7-7.5 per cent in 2022-23, in line with its projections made at the beginning of this financial year. India registered a growth of 8.7 per cent in 2021-22. “We remain on course to meet the 7.4 per cent. We expect to achieve. This does not really … Read more
GST collection for August could likely be in range of Rs 1.42-1.43 lakh crore, in signs of buoyancy in economy, Economic Affairs Secretary Ajay Seth said on Wednesday. The final numbers for GST mop-up will be out tomorrow. On the govt expenditure in Q1, the DEA secretary said that Rs 1.7 lakh crore was spend … Read more
New Delhi: The decision to allow firms below the GST threshold to engage in e-commerce is a major decision, which will help small businesses get benefitted from the fast-growing online sector, Commerce and Industry Minister Piyush Goyal said on Thursday. The decision will be a game-changer for the success of the government’s Open Network For … Read more
The Central Board of Indirect Taxes and Customs (CBIC) has issued a detailed procedure for sanction, post-audit, and review of refund claims under Goods and Services tax, in the light of the receipt of reports of different practices being followed by the officers, creating confusion for taxpayers. CBIC clarified that while passing the refund sanction … Read more
The finance ministry is working on a detailed mechanism that can resolve goods and services tax (GST) disputes raised by states while avoiding distortions in the tax regime. The mechanism may be discussed with the states at the next GST Council meeting, expected sometime in June. The plan includes a Dispute Redressal Bench that will … Read more