31 Dec 2022 06:30 PM
New

Empanelment for Special Audit with Delhi GST department

Source: https://taxguru.in/goods-and-service-tax/empanelment-special-audit-delhi-gst-department.html

Commissioner, CGST & C. Ex., Audit-1 Delhi, Central Board of Indirect Taxes and Customs, Department of Revenue, Ministry of Finance invites online Expression of Interest (EOI) for empanelment of Chartered Accountants, Chartered Accountant firms, Cost Accountants and Cost Accountant firms for conducting special audit of accounts of GST Registered persons as envisaged under Section 66 of the Central Goods and Service Tax Act, 2017.

29 Dec 2022 05:02 PM
New

CBIC lets field officers recover lower dues from bankrupt cos

Source: https://www.livemint.com/economy/cbic-lets-field-officers-recover-lower-dues-from-bankrupt-cos-11672246473664.html

NEW DELHI : The Central Board of Indirect Taxes and Customs (CBIC) has allowed tax officers to recover reduced dues from bankrupt businesses as decided by the National Company Law Tribunal (NCLT) while deciding on the future of a distressed company.

28 Dec 2022 05:36 PM
New

Reforms set stage for steady 6.5-7% growth: Nageswaran

Source: https://www.livemint.com/news/india/reforms-set-stage-for-steady-6-5-7-growth-cea-nageswaran-11672162581584.html

While economic reforms, including the implementation of goods and services tax and insolvency code, have positively impacted India’s economy, they have been overshadowed by the pandemic, balance sheet repair for banks and companies, and external shocks such as commodity price increases and interest rate hikes, chief economic adviser in the finance ministry V. Anantha Nageswaran said. However, these reforms have set the stage for sustained 6.5-7% growth in the coming years, Nageswaran said in an interview.

27 Dec 2022 07:22 PM

No proposal to reduce GST e-invoice threshold limit to Rs. 5 Crore

Source: https://taxguru.in/goods-and-service-tax/proposal-reduce-gst-e-invoice-threshold-limit-rs-5-crore.html

Some news reports have appeared in media today suggesting that though GST Council has recommended reducing threshold for generation of e-invoice to Rs. 5 cr wef 1.1.23, the Govt. has yet to issue notification in the matter, giving rise to uncertainties amongst the taxpayers.

26 Dec 2022 06:06 PM

Live Course on Input Tax Credit under GST– Detailed Analysis

Source: https://taxguru.in/goods-and-service-tax/live-input-tax-credit-gst-detailed-analysis.html

In The Current Environment, Input Tax Credit Is The Heart of Indirect Taxation. As Of Now We All Know That ITC Is The Most Crucial Part In GST Regime. If We Are Talking About Future Then We Can Say That Maximum Of The Litigations Will Arises Due To Input Tax Credit. After Considering All These Facts We Are Coming With A Live Course On Input Tax Credit.

24 Dec 2022 05:19 PM

RailTel bags work order worth ₹98.56 crore from govt of West Bengal

Source: https://www.livemint.com/news/india/railtel-bags-work-order-worth-98-56-crore-from-govt-of-west-bengal-11671811474294.html

Indian Railways‘ wholly-owned subsidiary RailTel Corporation of India Ltd has bagged an order from Webel Technology Ltd (WTL), a Govt of West Bengal undertaking for Capacity Enhancement of West Bengal State Data Centre (WB-SDC).

22 Dec 2022 06:07 PM

States requested for extension of payment of GST compensation Cess

Source: https://taxguru.in/goods-and-service-tax/states-requested-extension-payment-gst-compensation-cess.html

GOVERNMENT OF INDIA MINISTRY OF FINANCE LOK SABHA UNSTARRED QUESTION NO: 2013 ANSWERED ON: 19.12.2022 Revenues through Cesses and Surcharges Gautham Sigamani Pon Will the Minister FINANCE of be pleased to state:-

22 Dec 2022 06:14 PM

GST on Agriculture Equipment

Source: https://taxguru.in/goods-and-service-tax/gst-agriculture-equipment.html

GOVERNMENT OF INDIA MINISTRY OF FINANCE DEPARTMENT OF REVENUE LOK SABHA STARRED QUESTION NO. *175 TO BE ANSWERED ON MONDAY, DECEMBER 19, 2022/AGRAHAYANA 28, 1944 (SAKA) GST ON AGRICULTURE EQUIPMENT *175. SHRI HANUMAN BENIWAL: Will the Minister of Finance be pleased to state:

21 Dec 2022 06:13 PM

Why Indian cities have broken finances, low capex

Source: https://www.livemint.com/news/india/indian-cities-broken-finances-low-capex-11671554025113.html

NEW DELHI : The Municipal Corporation of Delhi (MCD) recently elected new councillors in a high-pitched election. Meanwhile, elections to Mumbai’s municipal body have been delayed for nearly a year. Whoever is in charge, India’s municipalities have to work with a budget that lacks heft and is short on prudence—and, thus, ends up placing boundaries on the quality of civic life delivered. About 600 million Indians, or 40%, will be urban dwellers by 2036, against 35% now, according to the World Bank. This will put pressure on municipal services. Indian cities have perpetually struggled to be self-sustaining, said a recent report by the Reserve Bank of India (RBI) on municipal finances. This report shows that municipalities are mostly financed by three sources to a nearly equal degree: own taxes, own non-tax revenues, and transfers from governments. In 2019-20, 35.7% of total municipal revenues were to come from state and central transfers.

21 Dec 2022 06:35 PM

Maruti Suzuki chairman calls for paring tariffs, GST rate to perk up auto sector

Source: https://www.livemint.com/companies/news/maruti-suzuki-chairman-calls-for-paring-tariffs-gst-rates-to-perk-up-auto-sector-11671560956384.html

Maruti Suzuki India Ltd chairman R.C. Bhargava on Tuesday said India must aggressively pursue free trade agreements (FTAs) and trim tariffs to help automakers tap large overseas markets. Alongside, the local auto industry must abandon its “protectionist mentality" and embrace competition to thrive, Bhargava said at the company’s annual media meet.