A nudge on income tax mustn’t become a shove
  • 03 Feb 2023 05:46 PM
  • New

A nudge on income tax mustn’t become a shove

Source: https://www.livemint.com/opinion/online-views/a-nudge-on-income-tax-mustn-t-become-a-shove-11675359401039.html

The budget did well to incline taxpayers towards a concessional tax regime that wipes the slate clean for taxation simplicity and also gives us a case study in behavioural economics

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MSMEs to reap gains of revamped credit guarantee scheme
  • 02 Feb 2023 04:00 PM
  • New

MSMEs to reap gains of revamped credit guarantee scheme

Source: https://www.livemint.com/news/india/msmes-to-reap-gains-of-revamped-credit-guarantee-scheme-11675276747031.html

MUMBAI : The government will introduce the revamped version of the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme from 1 April, infusing ₹9,000 crore to aid collateral-free lending to small businesses, finance minister Nirmala Sitharaman said on Wednesday.

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Sitharaman has managed to pull off a balancing act
  • 02 Feb 2023 04:13 PM
  • New

Sitharaman has managed to pull off a balancing act

Source: https://www.livemint.com/opinion/columns/sitharaman-has-managed-to-pull-off-a-balancing-act-11675285889103.html

Nirmala Sitharaman has presented the last full budget of the second Narendra Modi government. The finance minister had a tricky balancing act between stabilizing public finances and supporting India’s economic recovery, with risks from tilting too far on either side.

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GST collection crosses Rs 1.50 lakh crore mark for third time in FY 2022-23
  • 02 Feb 2023 04:19 PM

GST collection crosses Rs 1.50 lakh crore mark for third time in FY 2022-23

Source: https://taxguru.in/goods-and-service-tax/gst-collection-crosses-rs-1-50-lakh-crore-mark-time-fy-2022-23.html

2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022

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Request for waiver of late fee/penalty for delay in filing GSTR-9 & GSTR-9C
  • 02 Feb 2023 04:23 PM

Request for waiver of late fee/penalty for delay in filing GSTR-9 & GSTR-9C

Source: https://taxguru.in/goods-and-service-tax/request-waiver-late-fee-penalty-delay-filing-gstr-9-gstr-9c.html

Sub: Request for waiver of late fee and/or penalty for delay in filing Annual Return & Reconciliation Statement u/s 44 of CGST Act, 2017

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High govt revenue: What it means for Budget 2023
  • 01 Feb 2023 06:56 PM

High govt revenue: What it means for Budget 2023

Source: https://www.livemint.com/news/india/what-high-revenues-mean-for-budget-2023-11675179091546.html

New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. Tax collections in 2022-23 are on course to better its own projections, which lends it comfort. Yet, whether this will continue into the next year depends on how consumption keeps growing, across consumer classes. Data suggests that smaller producers and consumers were hit harder than top producers and consumers in the last two years. If top consumers ease up on spending—against the backdrop of rising interest rates and job losses—budget 2023-24 might need to do its bit to ensure the smallest of Indian consumers spend.

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GST collection at ₹1.55 lakh cr in Jan, second highest-ever
  • 01 Feb 2023 07:01 PM

GST collection at ₹1.55 lakh cr in Jan, second highest-ever

Source: https://www.livemint.com/news/gst-collection-at-rs-1-55-lakh-cr-in-jan-second-highestever-11675181139002.html

The GST collection for January 2023 has reached over the ₹1.50 lakh crore mark for the third time this financial year, and is only second to the highest collection of ₹1.68 lakh crore in April 2022

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Centre, states collect around ₹1.56 trillion in GST in January, second highest ever
  • 01 Feb 2023 07:05 PM

Centre, states collect around ₹1.56 trillion in GST in January, second highest ever

Source: https://www.livemint.com/economy/centre-states-collect-around-1-56-trillion-in-gst-in-january-second-highest-ever-11675183269015.html

Central and state governments have collected around ₹1.56 trillion in Goods and Services Tax (GST) revenue in January, showing an improvement of 24% over what was collected in the same month a year ago, finance ministry said in a statement on Tuesday.

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Hotels body seeks infra status, tax sops from budget
  • 01 Feb 2023 07:08 PM

Hotels body seeks infra status, tax sops from budget

Source: https://www.livemint.com/companies/news/hotels-body-seeks-infra-status-tax-sops-from-budget-11675184133285.html

GST on hotel tariffs and restaurants within hotel premises must be reduced from 18% to 12% to ensure that Indian hotels are on par with global markets

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Centre, states net ₹1.56 tn GST in Jan
  • 01 Feb 2023 07:12 PM

Centre, states net ₹1.56 tn GST in Jan

Source: https://www.livemint.com/news/india/centre-states-net-1-56-tn-gst-in-jan-11675188278737.html

Central and state governments collected ₹1.56 trillion in GST in January, marking the second-highest collection ever and an improvement of 24% from a year ago, the finance ministry said

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