01 Dec 2023 05:43 PM
New

GSTN Advisory: Two-factor Authentication for Taxpayers

Source: https://taxguru.in/goods-and-service-tax/gstn-advisory-two-factor-authentication-taxpayers.html

Introduction: In a bid to bolster the security measures of the Goods and Services Tax Network (GSTN) portal, taxpayers are set to experience a significant upgrade. The introduction of Two-Factor Authentication (2FA) marks a pivotal step towards ensuring a more secure and robust login process. This advisory details the phased implementation, the role of One-Time Passwords (OTPs), and essential updates for taxpayers.

29 Nov 2023 05:21 PM
New

Advisory on Amnesty for Missed GST Appeals: Procedures & Provisions

Source: https://taxguru.in/goods-and-service-tax/advisory-gst-amnesty-missed-appeals-procedures-provisions.html

Advisory for the procedures and provisions related to the amnesty for taxpayers who missed the appeal filing deadline for the orders passed on or before March 31, 2023

28 Nov 2023 05:55 PM
New

Hotels push for GST parity with standalone restaurants

Source: https://www.livemint.com/industry/hotels-push-for-gst-parity-with-standalone-restaurants-11701077018973.html

Hotel operators, especially those in the mid-market and upscale segments, are confronting a challenge that threatens to steer diners away to standalone restaurants: an uneven goods and services tax (GST) structure.

27 Nov 2023 05:49 PM

It’s raining GST notices. Are you prepared?

Source: https://economictimes.indiatimes.com/small-biz/gst/its-raining-gst-notices-are-you-prepared/articleshow/105278718.cms

Most notices seem to be based on assumptions and surmises. Taxpayers must be proactive in collating supporting documents and advancing appropriate justifications to defend the notices.

27 Nov 2023 05:43 PM

Union Budget 2024: Doctors, health experts urge Centre to raise excise duty on tobacco

Source: https://www.livemint.com/industry/union-budget-2024-doctors-health-experts-urge-centre-to-raise-excise-duty-on-tobacco-11701061564433.html

Doctors, economists, and public health organizations have urged the government to raise the excise duty on all tobacco products in the Union Budget 2024–25 in order to raise additional funds. It is believed that raising the excise tax is one of the most cost-effective public policy tools available to regulate tobacco consumption.

27 Nov 2023 05:38 PM

Why India's top bullion body is upset with MCX

Source: https://www.livemint.com/market/commodities/why-indias-top-bullion-body-is-upset-with-mcx-11701018338576.html

MUMBAI : Nodal gold trade body India Bullion and Jewellers Association (IBJA) has locked horns with MCXCCL, the clearing corporation of India’s largest commodity derivatives exchange MCX, over a crucial revision in the platform’s settlement procedure for gold and silver contracts traded on the bourse.

25 Nov 2023 05:44 PM

Zomato and Swiggy Face Rs 750 Crore GST Demand

Source: https://taxguru.in/goods-and-service-tax/dhys-zomato-swiggy-gst-radar-dhys-zomato-swiggy-face-gst-demand-notices-totaling-rs-750-crore-dggi-report.html

Introduction: Zomato and Swiggy, two giants in the food delivery sector, are now grappling with GST demand notices amounting to a staggering Rs 750 crore, as revealed by a report from the Directorate General of Goods and Services Tax Intelligence (DGGI). The crux of the matter revolves around the nature of food delivery services and their GST implications, raising questions about the taxation dynamics in this rapidly evolving industry.

23 Nov 2023 05:59 PM

CGST Delhi East Exposes ₹199 Crore Fraud by 48 Fake Firms

Source: https://taxguru.in/goods-and-service-tax/cgst-delhi-east-exposes-199-crore-fraud.html

Introduction: The Central Goods and Services Tax (CGST) Delhi East Commissionerate has successfully dismantled a complex network of 48 fake firms engaged in a massive ₹199 crore fraudulent Input Tax Credit (ITC) scheme. Codenamed “Operation Clean Sweep,” this enforcement action reveals the depth of deception within the GST framework. Initiated based on human intelligence, this operation involved meticulous data mining and on-the-ground intelligence, resulting in the identification and arrest of three key individuals.

23 Nov 2023 05:49 PM

GST notice of ₹400 crore sent to Zomato, ₹350 crore to Swiggy: Report

Source: https://www.livemint.com/companies/news/gst-notice-of-rs-400-crore-sent-to-zomato-rs-350-crore-to-swiggy-report-11700651089946.html

Zomato and Swiggy, the country's top two food delivery aggregators, have reportedly come under the scrutiny of tax authorities, with notices of a combined value of ₹750 crore sent to them, a report said on November 22.

23 Nov 2023 05:53 PM

Zomato share price drops over 2% on ₹400-crore worth GST notice

Source: https://www.livemint.com/market/stock-market-news/zomato-share-price-drops-over-2-on-rs-400-crore-worth-gst-notice-11700724249383.html

Zomato share price dropped 2.4% on Thursday's trading after Swiggy and Zomato received notices from country's top indirect tax agency regarding unpaid taxes totalling approximately ₹750 crore, CNBC-TV18 reported on Wednesday, citing sources. Zomato share price opened at ₹113.15 apiece on BSE today. Zomato share price opened flat.