- 07 Nov 2022 05:51 PM
- New
India should incentivize state-level fiscal responsibility
To ensure fiscal discipline, the government at all levels must be made to face financial consequences of their decisions." That is a quote from Anwar Shah’s paper, ‘Balance, Accountability, and Responsiveness: Lessons about Decentralization’. Dispensations in some states may not have read it. Following the footsteps of Rajasthan and Chhattisgarh, the Punjab government too has given in-principle approval to restore the old pension scheme for its employees. Far from providing a compelling indictment of the new pension scheme, the move backtracks on one of the crucial reforms that helped state governments dodge a ‘fiscal bullet’. But how is it possible for states with two of India’s highest debt-to-GDP levels to take such fiscally profligate actions?
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- 07 Nov 2022 06:02 PM
- New
PwC India’s Tax Academy launches GST executive professional certification
NEW DELHI: Aimed at equipping India’s workforce with critical job-ready skills, PwC India’s Tax Academy on Monday announced the launch of a first-of-its kind professional certification programme on GST on online learning platform Coursera.
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- 07 Nov 2022 06:13 PM
- New
Amendment in GST return format: Why changes regarding ITC will increase complexity for taxpayers
In most companies, the accounting process of vendor invoices is structured in such a manner that the GST amount, which is ineligible for ITC, is not recorded separately rather the entire transaction amount is booked in the expense GL itself
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- 05 Nov 2022 05:51 PM
Haryana cancels GST registration of all non-filers of GSTR-3B till March 2021
Source: https://taxguru.in/goods-and-service-tax/haryana-cancels-gst-registration-non-filers-gstr-3b.html
The Excise and Taxation Department, Government of Haryana had identified a list of 373 active registered taxpayers of State jurisdiction who had not filed FORM GSTR-3B up till March 2021. These taxpayers were liable to be cancelled under the provisions of Section 29 of the HGST Act, 2017.
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- 04 Nov 2022 05:55 PM
The big stories of the week gone by - in charts
Every week, Plain Facts publishes a compilation of data-based insights—complete with easy-to-read visual charts—to help you delve deeper into the stories reported by Mint. The government is planning to raise its capital expenditure to ₹10 trillion in the next financial year to support growth, while its plans to launch sovereign green bonds in the second half of the current year could boost efforts to tackle climate change.
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- 03 Nov 2022 06:27 PM
October e-way bills slip from quarter end peak
NEW DELHI : E-way bills generated for transportation of goods within and across states in October slipped from the high level seen at the end of the September quarter but maintained their momentum backed by the festive season demand, showed official data.
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- 03 Nov 2022 06:31 PM
October e-way bills decline from peak in September
NEW DELHI : Data from GSTN, the company that processes GST returns, showed that over 76.8 million e-way bills were raised in October, compared with more than 84 million electronic permits raised in September.
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- 02 Nov 2022 05:56 PM
Sensex fails to hold 61,000 mark as caution around Fed rate hike prevails
Benchmark share index Sensex failed to hold the 61,000 mark on Wednesday, and ended the four-day winning streak as caution prevailed ahead of the US Federal Reserve’s meeting on interest rates. The 30-share index lost 0.35% to close at 60,906.09. The 50-share Nifty also gave up 0.34% to end at 18,082.85..
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- 02 Nov 2022 06:01 PM
₹1,51,718 crore gross GST revenue collected for October 2022
The gross GST revenue collected in the month of October 2022 is ₹ 1,51,718 crore of which CGST is ₹ 26,039 crore, SGST is ₹ 33,396 crore, IGST is ₹ 81,778 crore (including ₹ 37,297 crore collected on import of goods) and Cess is ₹ 10,505 crore (including ₹ 825 crore collected on import of goods), which is second highest till date.
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- 01 Nov 2022 05:42 PM
GST collections in October cross ₹1.5 lakh crore, second highest ever
The gross GST revenue collected in the month of October 2022 was at ₹1,51,718 crore, the second highest monthly collection ever, the ministry of finance said today. The revenue for October 2022 is second highest monthly collection, next only to the collection in April 2022 and it is for the second time the gross GST collection has crossed Rs. 1.50 lakh crore mark.
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