07 May 2024 06:35 PM
New

India’s economy: Off to a flying start

Source: https://www.livemint.com/opinion/quick-edit/indias-economy-off-to-a-flying-start-11715019334360.html

Going by high frequency indicators, India’s economy seems to have got off to an impressive start in 2024-25. On Monday, the services sector purchasing managers’ index (PMI) was reported at 60.8 in April. Though this is a slip from 61.2 in March, total sales and output are among the strongest in 14 years. Earlier, the PMI for manufacturing also showed similar strength at 58.8, the second highest since the beginning of 2021.

07 May 2024 06:43 PM
New

GST contributes considerably to state revenues: Nirmala Sitharaman in X post

Source: https://www.livemint.com/news/india/gst-contributes-considerably-to-state-revenues-nirmala-sitharaman-in-x-post-finance-minister-11715073811958.html

While showering heaps of praise on Goods and Services Tax (GST), Union Finance Minister Nirmala Sitharaman shared her views extensively on X platform about the legislation which came into force on July 1, 2017. She said that the tax legislation exemplifies Cooperative Federalism in India, and empowers states.

06 May 2024 07:00 PM
New

Nirmala Sitharaman Swears in Sanjaya Kumar Mishra as GSTAT President

Source: https://taxguru.in/goods-and-service-tax/nirmala-sitharaman-swears-sanjaya-kumar-mishra-gstat-president.html

In a significant development for India’s tax administration, Union Finance Minister Nirmala Sitharaman has officiated the swearing-in ceremony of Justice (Retd.) Sanjaya Kumar Mishra as the inaugural President of the GST Appellate Tribunal (GSTAT) in New Delhi. This event marks a crucial milestone in the operationalization of the GSTAT, aimed at expediting the resolution of GST-related disputes.

04 May 2024 06:04 PM

At 6.1% of GDP, GST revenue for FY24 still not above pre-GST level after 7 years, says former CEA Arvind Subramanian

Source: https://www.livemint.com/economy/at-6-1-of-gdp-gst-revenue-for-fy24-still-not-above-pre-gst-level-after-7-years-says-former-cea-11714691304922.html

After India's goods and services tax (GST) collections touched record high-mark at ₹2.10 lakh crore in April 2024, Arvind Subramanian, former Chief Economic Adviser (CEA) to the central government has now highlighted that the despite the high collections, GST revenue for fiscal 2023-24 (FY24) has still not surpassed the pre-GST level.

03 May 2024 06:44 PM

KSCAA request Extension of Professional Tax Deadline in Karnataka

Source: https://taxguru.in/goods-and-service-tax/kscaa-request-extension-professional-tax-deadline-karnataka.html

The Karnataka State Chartered Accountants Association (KSCAA) plays a pivotal role in advocating for the welfare of Chartered Accountants and addressing professional challenges within Karnataka. In a recent development, the association has approached the Chief Minister of Karnataka, Sri Siddaramaiah, seeking an extension of the deadline for the payment of Professional Tax under The Karnataka Tax on Professions, Trades, Callings and Employment Act, 1976. This article delves into the reasons behind this request and its implications.

03 May 2024 06:39 PM

Char Dham Yatra 2024 to start on THIS date. Check helicopter booking fare, helpline details here

Source: https://www.livemint.com/news/trends/char-dham-yatra-2024-uttarakhand-may-15-kedarnath-badrinath-helicopter-booking-fare-details-tourists-irctc-booking-11714712752490.html

The Char Dham Yatra, a pilgrimage to the four sacred sites of Yamunotri, Gangotri, Kedarnath, and Badrinath, holds great significance for devotees is set to start on May 10.

The pilgrimage begins at Yamunotri, then moves on to Gangotri, continues to Kedarnath, and ends at Badrinath, following a clockwise route. These high-altitude shrines remain closed for about six months each year, opening in the summer (April or May) and closing as winter approaches (October or November).

03 May 2024 06:35 PM

‘Fake’ company units, GST fraud & more: How SEBI unfolded the Manpasand Beverages scam

Source: https://www.livemint.com/market/stock-market-news/manpasand-beverages-fake-company-gst-fraud-more-heres-how-sebi-unfolded-this-corporate-scam-11714653628007.html

Manpasand Beverages Scam: The capital markets regulator Securities and Exchange Board of India (SEBI) has barred Manpasand Beverages Ltd (MBL) and its top officials and directors from the securities markets for a period of three years from now and also imposed a total penalty of ₹74 lakh for manipulating and mis-reporting the company's financial statements.

02 May 2024 06:39 PM

The caveat you need to know while reading the GST ‘record’ in April

Source: https://www.livemint.com/economy/the-caveat-you-need-to-know-while-reading-the-gst-record-in-april-11714626455830.html

Goods and services tax (GST) collections hit a record ₹2.1 trillion in April, according to data released by the finance ministry on 1 May. The monthly GST data has often been used as a barometer of how well the economy is performing. But the April data may not be so straightforward.

02 May 2024 06:45 PM

GST revenue collection for April 2024 highest ever at Rs 2.10 lakh crore

Source: https://taxguru.in/goods-and-service-tax/gst-revenue-collection-april-2024-highest-rs-2-10-lakh-crore.html

Introduction: The Ministry of Finance recently released data revealing a significant achievement in India’s tax revenue landscape: the highest-ever GST collection for April 2024, totaling an impressive ₹2.10 lakh crore. This milestone, accompanied by a detailed breakdown and analysis, sheds light on the underlying factors driving this historic feat.

02 May 2024 06:48 PM

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

Source: https://taxguru.in/goods-and-service-tax/live-course-appeal-pleading-drafting-gst-ca-sachin-jain.html

Join us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST. Gain comprehensive insights, practical strategies, and expert guidance to navigate the legal landscape with confidence and mastery.