- 03 Jul 2024 06:17 PM
- New
Uttar Pradesh tops Tamil Nadu in GST collection: Myth and reality
When Uttar Pradesh reported higher collection of goods and services tax (GST) than Tamil Nadu for April, some painted it as a turning point. The discourse revolved around two hypotheses. One was that Uttar Pradesh (a historical economic laggard) had found new engines to sail past Tamil Nadu (a historical economic leader). Two, fears were coming true that the tax in question, introduced seven years ago, would end up favouring large-consumer states, even if they were economically weak. Neither hypothesis has played out.
Read More
- 03 Jul 2024 06:41 PM
- New
CBI arrests CGST Assistant Commissioner in ₹50000 Bribery Case
The Central Bureau of Investigation (CBI) has recently made headlines by arresting an Assistant Commissioner from the CGST Commissionerate in Guwahati. The arrest was made following allegations of the officer demanding and accepting a bribe of Rs. 50,000 from a complainant.
Read More
- 03 Jul 2024 06:27 PM
- New
Revenue of India’s top 18 states likely to grow at 8-10% in FY25: Crisil
This growth will be supported primarily by healthy GST collections and devolution from the union government, which together comprise about 50% of aggregate state revenues, the rating agency said.
Read More
- 03 Jul 2024 06:06 PM
Mint Quick Edit | GST data: What’s the secrecy?
The monthly GST revenue data for June is marked by the absence of a formal release with details of the tax intake breakup. What explains this?
Read More
- 02 Jul 2024 06:20 PM
June GST proceeds swell 7.7% to ₹1.74 trillion
Source: https://www.livemint.com/economy/june-gst-proceeds-swell-7-7-to-1-74-trillion-11719844388613.html
However, June's GST proceeds were lower than the record collection of ₹2.1 trillion reported in April—but in line with the trend of robust GST revenue receipts.
Read More
- 02 Jul 2024 06:32 PM
Budget 2024: Hospitality sector bats for industry status, GST reduction, cites substantial GDP & forex contributions
The hospitality sector should be given the status of an industry in the upcoming Union Budget to accelarate growth, senior executives from the sector told LiveMint. The sector has made "substantial contributions" to the nation's gross domestic product (GDP), is labour and capital intensive, and brings in foreign exchange revenues, they pointed out.
Read More
- 02 Jul 2024 06:26 PM
Budget 2024: Aviation industry seeks policies to ease business, wants tax sops
Airport operators want the govt to instruct airlines not to deduct tax at source while paying user development fee collected from passengers. Drone makers want a lower GST, while component makers are seeking incentives to boost local supply chains.
Read More
- 01 Jul 2024 06:45 PM
Top news on 30 June: Zomato GST notice, IMD red alert, Jadeja retires, TISS termination withdrawal, and more
Top news on 30 June: Karnataka govt issues ₹9.45 crore GST notice to Zomato; Mcap of top BSE firms added 2.98 lakh crore, Reliance leads pack; IMD warns of flash floods in several Indian states, issues alerts for heavy rainfall
Read More
- 01 Jul 2024 06:39 PM
Zomato gets ₹9.45 crore GST notice, plans to appeal against tax order
The tax regulator of Karnataka has demanded a GST of ₹5,01,95,462 ( ₹5.01 crore), which will be marked up with an interest charge of ₹3.93 crore, and a penalty of ₹50.19 lakh, bringing the total up to ₹9.45 crore, according to the filing.
Read More
- 01 Jul 2024 06:48 PM
On this day: Key events on July 1, from GST implementation in 2017 to National Doctor’s Day celebration since 1991
On this day: Take a look at the key events held on July 1 in history. The day marks the implementation of GST laws in India in 2017. Back to 1997, Hong Kong returned to China in 1997
Read More