27 Dec 2022 07:22 PM
New

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
New

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
New

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.

20 Dec 2022 06:04 PM

Rate proliferation tends to mar reformist moves

Source: https://www.livemint.com/opinion/online-views/rate-proliferation-tendsto-mar-reformist-moves-11671469693724.html

India’s Parliamentary Standing Committee on Commerce has recommended setting up a RoDTEP council, along the lines of the GST Council, to review refund rates under the Centre’s Remission of Duties and Taxes on Exported Products (RoDTEP) scheme for exporters and lay out “a road map for short- and medium-term changes in rate structure." The RoDTEP window was opened on 1 January 2021 to reimburse exporters for various levies without falling afoul of World Trade Organization (WTO) rules that forbid export subsidies deemed distortive of trade flows. It replaced the Merchandise Exports from India Scheme, which had to be axed after the WTO barred its use as a prop (on a specific US objection), and looks set to subsume RoSCTL, short for Rebate of State and Central Taxes and Levies, a similar package focused on apparel and other such exports. But the fact that RoDTEP coverage has been controversial and rates are being flagged for revision should worry us that it is slipping the GST way—i.e., down a path of proliferation with items sliced and slotted apart too finely.

20 Dec 2022 06:10 PM

GST compensation of ₹17,176 cr pending to states as on June 2022: Govt in RS

Source: https://www.livemint.com/news/india/gst-compensation-of-rs-17-176-cr-pending-to-states-as-on-june-2022-govt-in-rs-11671528516296.html

The government on Tuesday informed Rajya Sabha that GST compensation of ₹17,176 crore is pending to states as on June 2022.

19 Dec 2022 06:02 PM

Efforts are on to widen GST base: Nirmala Sitharaman

Source: https://www.livemint.com/news/india/efforts-are-on-to-widen-gst-base-nirmala-sitharaman-11671286698057.html

Central and state governments will now focus on efforts to widen the Goods and Services Tax (GST) base, finance minister Nirmala Sitharaman said on Saturday, indicating that this would be a key strategy in maintaining revenue collections at a robust level.