- 08 Jan 2024 06:03 PM
- New
Discussion about Table 14 & Table 15 in GSTR-1: E-Commerce Reporting Simplified
Introduction: The introduction of GSTR-1 Tables 14 and 15 in January 2024 marks a transformative juncture in the Goods and Services Tax (GST) landscape. These tables, focusing on reporting e-commerce transactions, aim to enhance transparency and streamline compliance. In this article, we unravel the intricacies of Tables 14 and 15, exploring their purpose, reporting details, and the profound implications they carry for businesses and e-commerce platforms. As businesses navigate the complexities of these tables, a new era of accurate reporting, reconciliation, and simplified tax administration unfolds, promising a more efficient tax ecosystem under the GST regime.
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- 08 Jan 2024 05:46 PM
- New
Standard Chartered Ultimate Credit Card: Here are its features, eligibility, and more
Standard Chartered debuted its Ultimate credit card in September 2017, marking the pinnacle of the bank's card offerings to date. Tailored for individuals with substantial incomes seeking an opulent lifestyle, this card delivers unparalleled luxury without compromise. Positioned as a direct competitor to ICICI Bank's Sapphiro credit card and HDFC Bank's Infinia credit card Metal Edition, it initially comprised two variants: the Visa Infinite and Master Card World.
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- 08 Jan 2024 05:39 PM
- New
‘GST evasion of over ₹44,000 crore detected’
Source: https://www.livemint.com/economy/gst-evasion-of-over-44-000-crore-detected-11704648615922.html
New Delhi: Finance ministry said on Sunday that suspected tax evasion related to Goods and Services Tax (GST) credit of more than ₹44,000 crore has been detected since last May in a drive against non-existent tax payers.
The drive unearthed 29,273 bogus firms involved in the suspected tax credit evasion leading to arrest of 121 persons, the ministry said in a statement.
- 08 Jan 2024 06:10 PM
Pay GST With Credit Card or Debit Card
Source: https://taxguru.in/goods-and-service-tax/pay-gst-credit-card-debit-card.html
Introduction: In an era where digital transactions govern financial landscapes, the Goods and Services Tax Network (GSTN) has taken a significant stride by introducing a streamlined method for taxpayers to settle their GST liability. This novel approach allows individuals and businesses to leverage the convenience of Credit Cards or Debit Cards. However, it’s crucial to note that this option is currently available in specific states. This comprehensive article delves into the intricacies of this payment method, providing a detailed analysis of the steps involved, associated transaction charges, and the states where this facility is presently accessible.
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- 08 Jan 2024 05:55 PM
Supreme Court issues notice to Centre on 28% GST for online gaming companies
NEW DELHI : The Supreme Court on Monday issued a notice to the government seeking a response to a plea filed by online gaming companies on tax demands adding up to ₹1.5 lakh crore. The court, however, did not issue a stay on the tax notices issued by the government.
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- 08 Jan 2024 05:35 PM
Mint Primer: What the surprise manufacturing slowdown means
Source: https://www.livemint.com/economy/what-the-surprise-manufacturing-slowdown-means-11704645690648.html
What was surprising about the PMI data?
The manufacturing PMI for December came in at 54.9 as against 56 in November. It was also the lowest since October 2022 when the index fell to 55.3. A reading above 50 means expansion while that lower than 50 means contraction. This surprised many as the economy had just registered a strong 7.6% growth in the July-September quarter on the back of a 7.8% growth in the April-June quarter. The just-concluded festive season, if consumer goods companies are to be believed, has been good, with outstanding retail loans crossing ₹50 trillion for the first time in November last year.
- 08 Jan 2024 05:31 PM
Budget 2024: Skilled Online Games industry stresses for GST review ahead of vote-on-account
As the Indian government prepares for the impending Interim Budget 2024, leaders in the technology and gaming sectors are optimistic and anticipate potential advantages stemming from the forthcoming vote-on-account and the Interim Budget.
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- 05 Jan 2024 05:31 PM
Vodafone Idea to contest ₹10.76 crore penalty order under CGST Act, cites 'wrong transition of CENVAT credit'
Vodafone Idea Limited on 4 January announced that it will take appropriate legal action for rectification and reversal of an order it received under the Central Goods and Services Tax Act, 2017, entailing a penalty of ₹10.76 crore.
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- 05 Jan 2024 05:26 PM
Budget 2024: Real estate sector bats for GST revision, tax sops to boost affordable housing — here is a wishlist
As India eagerly awaits Finance Minister Nirmala Sitharaman's sixth Union Budget, to be presented in Parliament on February 1, 2024, the nation’s real estate sector, particularly the affordable housing segment, is poised in anticipation. To realise the government’s vision of ‘Housing for All,’ experts and industry leaders have shared their insights, proposing vital measures to boost the affordable housing landscape. The proposals include revisiting GST rates, tax deductions, land allocation, and fund boost. The upcoming budget is seen as an opportunity to fortify the real estate industry’s pivotal role in India’s economic development.
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- 05 Jan 2024 05:39 PM
Data recap: GST, car sales, shipping cost
Source: https://www.livemint.com/economy/data-recap-gst-car-sales-shipping-cost-11704367376974.html
Every Friday, Plain Facts publishes a compilation of data-based insights, complete with easy-to-read charts, to help you delve deeper into the stories reported by Mint in the week gone by. The Centre’s goods and services tax (GST) collections grew 10.3% year-on-year to ₹1.65 trillion in December. Meanwhile, the recent attacks on vessels in the Red Sea have led to a surge in shipping costs.
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