- 06 Sep 2024 06:49 PM
- New
Parking at Delhi airport costs ₹5,770; then, owner finds the car damaged: Man describes ’worst experience’
Deepak Gosain was handed a staggering bill of ₹5,770 for parking his car at the Delhi's IGI Airport, which comprised of ₹4,889.83 in parking fees and ₹880.17 in GST.
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- 05 Sep 2024 06:17 PM
- New
GST Council meeting: Big relief may be coming for policyholders. Details here
GST Council meeting: Planning to buy insurance? Hold on! Major relief may be coming for policyholders. Details here
The 54th GST Council meeting on September 9, 2024, may address removing the 18 percent GST on term life insurance premiums, a demand from various stakeholders aiming to reduce costs for consumers and promote insurance uptake in India.
- 04 Sep 2024 06:10 PM
- New
GSTN to roll out invoice management system from October 1; details here
In an advisory to Goods and Services Tax (GST) payers, GSTN said to enable taxpayers to efficiently address invoice corrections/amendments with their suppliers through the portal, a new communication process called the IMS is being launched.
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- 03 Sep 2024 05:35 PM
Why GST Council cannot ignore the health insurance row next week
When the Goods and Services Tax (GST) Council convenes for its 54th meeting on Monday, one agenda item likely to resurface is the tax slab on health and life insurance. While the Council has previously discussed this issue, it has gained renewed attention recently. The Opposition has intensified its demands, and a senior minister, Nitin Gadkari, highlighted the issue in a letter to the finance minister in July.
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- 02 Sep 2024 06:42 PM
GST return filing changes: New thresholds, liability rules take effect from Sept
GST return filing changes: New thresholds and liability rules to take effect from September
Starting this September, taxpayers in India will face changes in their GST return filing requirements, potentially impacting compliance and financial reporting.
- 02 Sep 2024 06:53 PM
Gross and Net GST revenue collections for the month of August, 2024
Source: https://taxguru.in/goods-and-service-tax/gross-net-gst-revenue-collections-month-august-2024.html
Summary: The GST collections for August 2024 showed significant growth, with gross revenue increasing by 10% compared to August 2023. The total gross GST revenue for the month amounted to ₹1,74,962 crores, up from ₹1,59,069 crores in the same period last year. This increase is driven by both domestic and import revenues, which saw growth rates of 9.2% and 12.1%, respectively. Net GST revenue, after adjusting for refunds, also grew by 6.5%, reaching ₹1,50,501 crores. Domestic revenue components, including CGST, SGST, IGST, and CESS, all experienced positive growth, contributing to an overall increase in the year-to-date (YTD) revenue collections by 10.2%, reaching ₹8,06,475 crores. State-wise data reveals that most states observed growth in GST collections, with Maharashtra, Karnataka, and Uttar Pradesh among the top contributors. However, a few states, including Arunachal Pradesh, Nagaland, and Chhattisgarh, saw a decline in their collections compared to August 2023. The figures provided are provisional and may be subject to final adjustments.
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- 02 Sep 2024 06:50 PM
CBI Files Chargesheets in Two High-Profile Bribery Cases of Tax Officers
The Central Bureau of Investigation (CBI) filed a chargesheet against a former Assistant Commissioner of CGST, GST Commissionerate, Guwahati, in a bribery case. The charges were filed on August 27, 2024, following a complaint by a private businessman alleging that the Assistant Commissioner demanded a bribe to pass favorable orders related to civil works he had completed. The accused allegedly demanded Rs. 2 lakh but later agreed to accept Rs. 50,000 after negotiations. A trap was set by the CBI, and the accused was caught red-handed while accepting the bribe. The accused was arrested, and searches were conducted at his official and residential premises in Guwahati and Hyderabad.
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- 02 Sep 2024 06:30 PM
Economy News Today highlights on September 1, 2024: GST collections increase by 10% to reach ₹1.75 lakh crore in August
Economy News Today highlights on : Stay informed with the latest information and news about the Indian economy, world economy, global indicators, government policy for the economy, and real-time insights on dynamic GDP growth with our live coverage. LiveMint is the one-stop hub for those looking for the latest economic news and willing to understand the intricacies and details of their impact on our daily lives. Catch real-time updates here.
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- 02 Sep 2024 06:47 PM
Nitin Gadkari wants states to push for GST cut on flex-engine vehicles —‘MDs of Tata, Suzuki & Toyota have decided to…’
Gadkari says the central government needs the support of the states to promote flex-engine vehicles by reducing GST up to 12 per cent on flex engines, cars, and scooters.
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- 02 Sep 2024 06:39 PM
Top news: Market cap of top 8 firms surges, GST collections, Andhra Rains
IPO flurry set to continue with 6 new public issues, 11 listings scheduled for next week; check full list here
In the mainboard segment, the Gala Precision Engineering IPO will open for subscription on September 2. Meanwhile, the Baazar Style Retail IPO, which is currently ongoing, will close on September 3.