14 Mar 2024 05:55 PM
New

Maharashtra, Karnataka, UP lead in GST cess collections

Source: https://www.livemint.com/news/india/maharashtra-karnataka-up-lead-in-gst-cess-collections-11710337426452.html

New Delhi: Maharashtra, Karnataka, Uttar Pradesh, Odisha and Tamil Nadu are leading in collecting Goods and Services Tax (GST) cess levied mainly on sale of cars, helping the Centre pay off the market loans taken to give liquidity to states during the pandemic, showed data available from the GST Council for this fiscal up to January 2024.

12 Mar 2024 06:05 PM
New

Advisory on GSTR-1/IFF: Introduction of New 14A and 15A tables

Source: https://taxguru.in/goods-and-service-tax/advisory-gstr-1-iff-introduction-14a-15a-tables.html

Introduction: The recent advisory on GSTR-1/IFF introduces two new tables, 14A and 15A, aimed at capturing amendments related to supplies made through e-commerce operators. This article delves into the implications of these additions for taxpayers and e-commerce operators.

09 Mar 2024 05:57 PM
New

Govt expands tax refund scheme to cover SEZs, export-oriented units

Source: https://www.livemint.com/industry/govt-expands-tax-refund-scheme-to-cover-sezs-export-oriented-units-11709911358327.html

NEW DELHI : Amidst global economic uncertainties and supply chain disruptions, the government has expanded the scope of a scheme designed to make Indian exports more competitive globally by refunding various central, state and other local duties and taxes.

09 Mar 2024 06:05 PM

GSTN Announcement: E-Waybill Integration with New IRP Portals

Source: https://taxguru.in/goods-and-service-tax/gstn-e-waybill-integration-new-irp-portals.html

Introduction: In a significant development, the Goods and Services Tax Network (GSTN) has successfully integrated E-Waybill services with four new Invoice Registration Portal (IRP) portals via the National Informatics Centre (NIC). This integration expands the scope of E-Waybill generation, aligning it seamlessly with E-Invoicing, and is now accessible across all six IRPs.

09 Mar 2024 06:11 PM

Meerut CGST Commissionerate Busts Rs. 1,000 Cr ITC Fraud

Source: https://taxguru.in/goods-and-service-tax/meerut-cgst-commissionerate-itc-fraud-bust.html

Introduction: In a significant development, the Anti-Evasion branch of Central Goods and Services Tax (CGST) Commissionerate, Meerut, has successfully uncovered a large syndicate involved in a major Input Tax Credit (ITC) fraud. The investigation, initiated in October 2023, revealed a network of 232 fake firms responsible for fraudulently claiming ITC exceeding Rs. 1,000 crore.

08 Mar 2024 06:10 PM

Bengaluru water crisis: Karnataka govt bans drinking water for non-essential use, imposes ₹5,000 fine

Source: https://www.livemint.com/news/india/karnataka-bans-drinking-water-usage-for-non-essential-purposes-water-shortage-bengaluru-news-11709879482250.html

Bengaluru water crisis: Bengaluru district administration sets fixed rates for water tankers based on distance traveled. Private tankers supplying water in drought-prone areas will be subject to GST. Government prioritizes irrigation and water management projects over other endeavors.

07 Mar 2024 06:16 PM

Navigating the evolution of Input Service Distributor under GST

Source: https://economictimes.indiatimes.com/small-biz/gst/navigating-the-evolution-of-input-service-distributor-under-gst/articleshow/108287286.cms

ISD scheme enables distribution of ITC received at one location across other branches of a company. It ensures that ITC is allocated in adherence to the prescribed documentation and other legal requirements.

07 Mar 2024 06:24 PM

Finance Head of a firm arrested for GST evasion to the tune of Rs 88 crore

Source: https://taxguru.in/goods-and-service-tax/finance-head-firm-arrested-gst-evasion-tune-rs-88-crore.html

Introduction: The Ministry of Finance recently made headlines with the arrest of the Finance Head of a prominent firm for alleged GST evasion amounting to a staggering Rs 88 crore. This incident, which unfolded in Mumbai, has raised significant concerns about tax compliance and the enforcement of GST regulations.

06 Mar 2024 06:01 PM

Delhi should get its share of taxes from Centre, says FM Atishi

Source: https://www.livemint.com/economy/delhi-should-get-its-share-of-taxes-from-centre-says-atishi-singh-11709651856802.html

New Delhi: The Delhi state government should get a share of the union government’s taxes devolved to states as per a formula to be set by the Finance Commission, Delhi finance minister Atishi said on Tuesday.

05 Mar 2024 06:04 PM

Govt likely to consider tax cuts on flex-fuel vehicles

Source: https://www.livemint.com/auto-news/govt-likely-to-consider-tax-cuts-on-flex-fuel-vehicles-11709628033061.html

New Delhi: The Union government is considering a demand for reducing taxes on flex-fuel, or dual-fuel, vehicles, a move that could accelerate the push for cleaner transportation.