- 18 Jul 2024 05:36 PM
- New
With ₹12 trillion stuck in tax disputes, Govt must speed up resolution mechanism in budget: Experts
Mumbai: The government must look to fix dispute resolution in the upcoming budget with steps such as streamlining legal processes and introducing monitoring mechanisms to free up more than ₹12.2 trillion stuck in various tax squabbles, experts said.
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- 18 Jul 2024 05:49 PM
- New
New API Features of E-Invoice Interoperable services
Source: https://taxguru.in/goods-and-service-tax/api-features-e-invoice-interoperable-services.html
The NIC has introduced new API features for interoperable e-Invoice and e-Way Bill services, allowing a single authentication token to be used across multiple portals (e-Invoice1, e-Invoice2, e-Waybill1, e-Waybill2). This update enables access to services and operations, such as IRN generation, cancellation, and e-Waybill creation, across these portals, with APIs designed for cross-portal functionality. Specific error codes and additional header parameters have been introduced for seamless integration. The changes are available for testing on the sandbox portal before moving to production.
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- 17 Jul 2024 06:22 PM
- New
Montek Singh Ahluwalia: How to pack for India's journey to 2047
With the new government in place, attention will naturally shift to how it proposes to deliver on the promise of achieving Viksit Bharat by 2047. The vision has gone down well as an aspirational objective. Since the transition will extend over two decades, the list of reforms needed is bound to be long, covering both the economy and also society. Today’s Mint presents several articles that identify some of the areas where changes are needed. Each will involve a combination of policies and programmes, and the details can only evolve over time.
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- 16 Jul 2024 05:58 PM
Budget 2024: Nirmal Bang Equities expect some push back on bringing products like Oil & Gas, Alcohol under GST regime
Budget 2024: With some deterioration in state Finances during FY24, Nirmal Bang Institutional Equities remains watchful on state finances. Expect some push back on bringing products like Oil & Gas and Alcohol under the GST regime. Capex & infra focus likely to stay and private capex push likely
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- 16 Jul 2024 05:54 PM
Gujarat tops in GST filing compliance at 95%, HP, Tamil Nadu, UP, others also lead, while Arunachal, Manipur lag behind
Gujarat, Tamil Nadu, UP, Punjab, Haryana and Delhi, among others, emerged as the top states with the highest tax returns filing in the current fiscal up to the end of May. But north-eastern states like Arunachal Pradesh and Manipur lagged behind due to low digital connectivity.
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- 15 Jul 2024 05:59 PM
CBI Arrests CGST Superintendent and Inspector for Bribery
Source: https://taxguru.in/goods-and-service-tax/cbi-arrests-cgst-superintendent-inspector-bribery.html
The Central Bureau of Investigation (CBI) has recently made arrests in a significant case involving corruption within the Central Goods & Services Tax (CGST) department. A Superintendent and an Inspector from the CGST office in Solan, Himachal Pradesh, have been apprehended on charges related to bribery.
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- 13 Jul 2024 06:22 PM
CBI Arrests Superintendent for Accepting Rs. 15,000 Bribe in GST Refund Case
The Central Bureau of Investigation (CBI) has recently made headlines with the arrest of a Superintendent of Central GST & Central Excise in Berhampur, Odisha. The officer was apprehended while allegedly accepting a bribe of Rs. 15,000 from a complainant, related to the processing of GST refunds.
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- 11 Jul 2024 06:49 PM
Data please: Government figures shrouded in secrecy entail economic risks
An important person in the government requested me to write about how the subsidy from Union budgets for second-class AC train seats in India has grown since 2014, given that these fares haven’t been adjusted for rising fuel costs.
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- 11 Jul 2024 06:34 PM
Revive India’s unorganized sector to raise incomes and tackle unemployment
The release of the Annual Survey of Unincorporated Sector Enterprises (ASUSE) by the National Statistical Office (NSO) fills an important data gap in our understanding of what is happening in the unorganized sector. The NSO released two reports of the ASUSE: for 2021-22 and 2022-23.
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- 11 Jul 2024 06:55 PM
Rajasthan Budget 2024-25 Tax Proposals
Source: https://taxguru.in/goods-and-service-tax/rajasthan-budget-2024-25-tax-proposals.html
In the Budget for the financial year 2024-25, significant tax proposals and initiatives were introduced aimed at bolstering the financial system and providing relief to various sectors in the state. Notable measures include the reduction of VAT rates on petrol and diesel to ensure uniform pricing across the state, marking a pioneering effort in India. The abolition of land tax and mandi tax on sugar and jaggery further aimed at easing the tax burden on trade and business. The government emphasized its commitment to enhancing revenue functions while providing exemptions and reductions in stamp duty rates across various categories, including agreements for electricity connections, mortgage deeds for farmers, and transactions among family members. Other initiatives underlined in the budget include new investment policies, incentives for energy-intensive industries, and reforms in the transport and excise departments to streamline operations and promote sectoral growth. The amnesty schemes introduced provide relief to dealers and individuals, encouraging compliance through waivers on interest and penalties for overdue amounts across multiple sectors. Institutional strengthening measures across revenue-earning departments, including the introduction of e-Panjiyan 3.0 for online transactions and the establishment of an Integrated Excise Preventive & Enforcement Force, aim to enhance efficiency and transparency in administrative processes.
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