NEW DELHI : The Supreme Court has consolidated multiple pleas challenging the 28% GST on online gaming companies, ordering the transfer of 27 writ petitions to be heard together.
Read MoreSource: https://taxguru.in/goods-and-service-tax/trends-growth-gst-collection.html
The financial year 2023-24 has ended on a high note, from GST view point. GST collection has once again been robust in March, 2024. GST collection is second highest monthly Gross GST Revenue collection in March, 2024 at Rs. 1.78 lakh crore which records 11.5% y-o-y growth (18.4% on net basis). FY 2023-24 marks a milestone with total gross GST collection of Rs. 20.14 lakh crore exceeding Rs.20 lakh crore, a 11.7% increase compared to the previous year. The average monthly collection for fiscal year 2023-24 stands at Rs.1.68 lakh crore, surpassing the previous year’s average of Rs.1.5 lakh crore. GST revenue net of refunds as of March, 2024 for the current fiscal year is Rs.18.01 lakh crore which is a growth of 13.4% over same period last year.
Read MoreSummary
GST revenue buoyancy should close the chapter of a shortfall cess and prompt reforms aimed at tax simplification. For GST to fulfil its basic promise, start by reducing rate slabs.
Summary
India should rethink GST policy in support of hybrid vehicles as a pathway to exhaust-free roads. It could smoothen the transition while infrastructure for EVs takes time to emerge.
The central government’s tax collection target of over ₹34.37 lakh crore for fiscal year 2023-24 (FY24) has been broadly met on the back of robust economic activity and improved compliance, according to a report by PTI.
Read MoreSummary
For 2023-24, India’s GST revenue crossed ₹20 trillion. If its weak mop-ups are firmly in the past, at long last, we must go for slab and rate reforms.
Mumbai: WinZO Games, a homegrown, vernacular, social-gaming startup with more than 175 million users, has posted an operating profit of ₹120 crore in FY23, after positing a ₹120 crore loss in FY22, according to financials submitted to the Ministry of Corporate Affairs.
Read MoreAn Uber ride in Noida, Uttar Pradesh, made a man owe crores to the cab aggregator even when the ride was not cancelled. A viral post-X claimed that a man in Noida had booked an Uber auto for ₹26. He was left in shock when he received a whopping bill of ₹ 7.66 crore on his app.
Read MoreUnion Minister for Road Transport and Highways Nitin Gadkari has said that it is ‘one hundred per cent’ possible for the country to get rid of petrol and diesel cars altogether to make India a green economy.
Read MoreA home loan processing fee is a singular fee imposed by lenders for evaluating your home loan application. This fee primarily includes the expenses associated with verifying your income and employment information, assessing your creditworthiness, and assembling all the required documentation for your loan. The processing fees for home loans usually vary between 0.25% and 1% of the loan amount. Additionally, some lenders may have a set fee amount.
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