01 Feb 2024 06:51 PM
New

Budget 2024 expectations: Physics Wallah's Prateek Maheshwari seeks higher budget for education sector, GST cut

Source: https://www.livemint.com/companies/people/budget-2024-expectations-physics-wallahs-prateek-maheshwari-seeks-higher-budget-for-education-sector-gst-cut-11706722376102.html

Union Finance Minister Nirmala Sitharaman is all set to present the Interim Budget 2024 on February 1. In an interaction with Livemint, co-chair of India Edtech Consortium (IEC) and co-founder of Physics Wallah Prateek Maheshwari speaks about artificial intelligence (AI) integration in the edtech sector. Maheshwari also shared his expectations from the Interim Budget. Edited excerpts from the interview.

01 Feb 2024 06:45 PM
New

Fiscal deficit moderates; GST revenue soars in January

Source: https://www.livemint.com/economy/fiscal-deficit-moderates-gst-revenue-soars-in-january-11706722191663.html

Two sets of data released by the government on the eve of the interim budget painted a picture of healthy fiscal performance.

01 Feb 2024 07:02 PM
New

January 2024 GST Collections: ₹1,72,129 Crore, 10.4% YoY Growth

Source: https://taxguru.in/goods-and-service-tax/january-2024-gst-collections-rs-172129-crore10-4-percent-yoy-growth.html

The Ministry of Finance has released the latest figures for GST collections in January 2024, revealing a noteworthy growth and marking a significant milestone in the fiscal year 2023-24.

01 Feb 2024 06:57 PM

Budget 2024: Boost for auto PLI, sharp cut for FAME scheme

Source: https://www.livemint.com/industry/budget-2024-boost-for-auto-pli-sharp-cut-for-fame-scheme-11706774236797.html

New Delhi: The interim budget for FY25 on Thursday announced an over seven-fold increase in allocation for the automotive industry's PLI scheme, but reduced the outlay for the Faster Adoption and Manufacturing of Hybrid & Electric Vehicles (FAME) scheme by over 44%.

01 Feb 2024 06:38 PM

GST collections rise 10% to ₹1.72 lakh crore in January

Source: https://www.livemint.com/economy/gst-collections-rise-10-to-rs-1-72-lakh-crore-in-january-11706709847606.html

With overall collection reaching ₹16.69 lakh crore, GST collections register 11.6% Y-o-Y growth in 10-month period

31 Jan 2024 06:09 PM

Budget 2024: Expectations of individual taxpayers

Source: https://www.livemint.com/opinion/first-person/budget-2024-expectations-of-individual-taxpayers-11706696459483.html

As is usual around this time of the year, the expectations of the taxpayers’ skyrocket for concessions in tax and other favourable changes in the income-tax law from the budget, and this year is no different, in fact, more so, as we are in an election year. This, despite the fact, that technically the government, in an election year, is required to present a “Vote on Account" budget to get Parliament approval to tide through the government expenses until the budget is presented in July by the newly elected government.

31 Jan 2024 05:59 PM

Budget 2024 Expectations: Lower ATF price, income tax to boost India's travel & tourism: Rajesh Magow of MakeMyTrip

Source: https://www.livemint.com/industry/budget-2024-expectations-lower-atf-price-income-tax-to-boost-indias-travel-tourism-rajesh-magow-of-makemytrip-11706618368834.html

Finance Minister Nirmala Sitharaman will unveil the Interim Budget for the financial year 2024-2025 (FY25) on February 1, 2024, which is likely to keep the focus on sustaining nominal economic growth, but may not involve any major policy changes.

31 Jan 2024 06:03 PM

One Nation, One Tax Dream: Can Budget 2024 address GST complexities and pave the way for a truly unified tax regime?

Source: https://www.livemint.com/industry/one-nation-one-tax-dream-can-budget-2024-address-gst-complexities-and-pave-the-way-for-a-truly-unified-tax-regime-11706684031113.html

Finance Minister Nirmala Sitharaman will present the interim budget on Thursday (February 1). Expectations for Budget 2024 include advocating for a progressive tax structure, targeted relief for SMEs, promoting digital transactions, and reviewing the GST structure. Tax incentives for sustainable practices and strategic investments in social sectors are also proposed.

31 Jan 2024 06:06 PM

Budget 2024 expectations: From tax exemptions to lower GST, what education sector needs to achieve Viksit Bharat goals

Source: https://www.livemint.com/education/budget-2024-expectations-from-tax-exemptions-to-lower-gst-what-education-sector-needs-to-achieve-viksit-bharat-goals-11706682927411.html

Union Finance Minister Nirmala Sitharaman will present the Interim Budget 2024-25 on February 1. The full Budget for FY25 will be presented after the formation of the new government following the general elections. The Interim Budget will contain details about the estimated receipts and the expenditure of the government until the formation of the new government.

29 Jan 2024 05:35 PM

CBI Arrests Odisha GST Superintendent for Rs. 20,000 Bribery Scam

Source: https://taxguru.in/goods-and-service-tax/cbi-arrests-odisha-gst-superintendent-rs-20000-bribery-scam.html

Introduction: In a significant development, the Central Bureau of Investigation (CBI) has apprehended a Superintendent of GST in Rourkela, Odisha, on charges of bribery. The case revolves around the official allegedly demanding a bribe of Rs.50,000 to correct an erroneously fixed GST liability of Rs.8 lakh to Rs.3.5 lakh for the complainant. Negotiations led to the accused agreeing to accept a partial bribe amount of Rs.20,000 as the first installment.