07 Jun 2024 06:37 PM
New

India must tackle illegal offshore gambling platforms

Source: https://www.livemint.com/opinion/online-views/india-must-tackle-illegal-offshore-gambling-platforms-11717740176368.html

Countries all over the world, including India, are grappling with the issue of offshore betting and gambling platforms as they pose multitudinal threats from individual customers to national security.

06 Jun 2024 06:15 PM
New

A new excise law to refine 80-year-old rules will make life easier for oil firms

Source: https://www.livemint.com/companies/central-excise-bill-2024-to-replace-central-excise-act-align-with-gst-for-oil-firms-11717601543554.html

A new law proposed to replace the eight-decade-old Central Excise Act will cut the compliance burden on oil and gas companies that are currently governed by the excise duty regime.

05 Jun 2024 06:32 PM
New

New central excise law in the offing

Source: https://www.livemint.com/news/india/new-central-excise-law-in-the-offing-11717511855332.html

A new central excise law will replace the existing eight-decade-old Central Excise Act, the finance ministry said on Tuesday while seeking public comments on a draft bill.

05 Jun 2024 06:28 PM

Modi 3.0: It's time to write a guidebook for tax reforms

Source: https://www.livemint.com/opinion/columns/fiscal-management-of-the-new-government-11717501950893.html

In a year of global elections, all eyes are on India. A lot has been written about the hopes and expectations of the new government. It is now time to set the trajectory for the next five years. The last decade was marked by a series of reforms and economic setbacks from covid-19. As the new government sets its eye on the future, its economic legacy must shape fiscal policy thinking.

03 Jun 2024 06:34 PM

Indian stock market: 10 things that changed for market over weekend - Gift Nifty, Exit Polls 2024, GDP to US inflation

Source: https://www.livemint.com/market/stock-market-news/indian-stock-market-10-things-that-changed-for-market-over-weekend-gift-nifty-exit-polls-2024-gdp-to-us-inflation-11717376099822.html

Indian stock market: The Indian equity benchmark indices, Sensex and Nifty 50, are expected to open sharply higher on Monday as the exit polls suggested the Prime Minister Narendra Modi coming back to power for the third term as the BJP-led alliance is likely to win the Lok Sabha elections with a thumping majority. Positive global cues also supported the investor sentiment.

03 Jun 2024 06:27 PM

GST collection rises 10% to ₹1.73 lakh crore in May 2024, gross GST revenue up 15.3% YoY

Source: https://www.livemint.com/economy/gst-collection-rises-10-to-rs-1-73-lakh-crore-in-may-2024-gross-gst-revenue-up-15-3-yoy-11717250219166.html

The growth in GST collections was driven by an increase in revenues from domestic transactions (up 15.3 per cent) over the slowing of imports (down 4.3 per cent)

03 Jun 2024 07:05 PM

May 2024 GST Collection Hits ₹1.73 Lakh Crore, 10% Growth

Source: https://taxguru.in/goods-and-service-tax/may-2024-gst-collection-hits-1-73-lakh-crore-10-percent-growth.html

The Ministry of Finance has reported a robust performance in Goods and Services Tax (GST) revenue collection for May 2024, reflecting significant economic activity and efficient tax administration. The gross GST revenue for the month of May 2024 stood at ₹1.73 lakh crore, marking a 10% increase from the same period last year. This growth is largely attributed to a 15.3% rise in domestic transactions, indicating a healthy domestic market, although imports saw a 4.3% decline. After accounting for refunds, the net GST revenue for May 2024 amounted to ₹1.44 lakh crore, demonstrating a 6.9% year-on-year growth.

01 Jun 2024 05:55 PM

GST Council Newsletter For April 2024

Source: https://taxguru.in/goods-and-service-tax/gst-council-newsletter-april-2024.html

The April 2024 GST Council Newsletter encapsulates significant discussions, revenue achievements, and updates within the Indian tax framework. The newsletter highlights the third National Coordination Meeting held on May 3rd, focusing on improving GST practices. Attendees discussed strategies to tighten GST registration, address loopholes in the e-way bill portal, and progress in establishing the GST Appellate Tribunal. States shared innovative approaches to combat GST fraud through tracking money trails and identifying risky taxpayers using data analytics and artificial intelligence.

31 May 2024 06:14 PM

RBI relocates 100 tonnes of gold from UK to its Indian vaults: Report

Source: https://www.livemint.com/economy/rbi-relocates-100-tonnes-of-gold-from-uk-to-its-indian-vaults-report-11717127313502.html

RBI relocated over 100 tonnes of gold from UK to India for logistical and storage reasons, hinting at more gold entering the country soon. This move follows RBI's recent acquisition of 27.5 tonnes, increasing its total gold holdings to 822.1 tonnes by March.

23 May 2024 06:10 PM

ICICI Lombard gets GST show-cause notice worth ₹288 crore

Source: https://www.livemint.com/companies/news/icici-lombard-gets-gst-show-cause-notice-worth-rs-288-crore-11716459418281.html

ICICI Lombard General Insurance Company Ltd has received a GST show-cause notice worth ₹288 crore for fiscal year 2020, CNBC-TV18 said in a post on X (formerly Twitter) on Thursday.