- 01 Jul 2023 06:58 PM
- New
The ‘Good and Simple Tax’ has broadly achieved its goals
The ‘Good and Simple Tax’, which completely revamped India’s indirect tax structure, completes six years on 1 July. At the time of its inception, some of the objectives envisaged were: Removing the multiplicity of taxes, mitigating their cascading effects through a seamless flow of credit, widening the tax base, reduction of the cost of goods and services to consumers, simplification of the compliance mechanism, and bringing efficiency as well as transparency with the help of increased use of technology.
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- 01 Jul 2023 06:53 PM
- New
GST collection grows 12% to over ₹1.61 lakh crore in June
In June 2023, India's gross GST revenue reached ₹1,61,497 crore, a 12% increase from the previous year. CGST collected ₹31,013 crore, SGST collected Rs38,292 crore, IGST collected ₹80,292 crore, and cess collected ₹11,900 crore
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- 30 Jun 2023 05:12 PM
- New
Fiscal federalism needs a look-in by the 16th Finance Commission
The Sixteenth Finance Commission (16th FC) is likely to be appointed soon. It is a good time to reflect on some challenging issues of fiscal federalism that the 16th FC may have to face.
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- 30 Jun 2023 05:15 PM
GST has been a gamechanger for India’s economy
The now six-year-old tax regime has resulted in multiple benefits for the government and taxpayers, even as the GST Council has set an example of cooperative federalism, but it still needs to rationalize taxes and not worry about collections that are unlikely to get hit
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- 30 Jun 2023 05:24 PM
6-years of GST: With record high collections, why it is an opportune time for rate rationalisation
The primary ideology behind rate rationalisation has been to simplify the GST rate structure and not to garner additional revenues for the government.
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- 30 Jun 2023 05:18 PM
The ‘Good and Simple Tax’ has broadly achieved its goals
The ‘Good and Simple Tax’, which completely revamped India’s indirect tax structure, completes six years on 1 July. At the time of its inception, some of the objectives envisaged were: Removing the multiplicity of taxes, mitigating their cascading effects through a seamless flow of credit, widening the tax base, reduction of the cost of goods and services to consumers, simplification of the compliance mechanism, and bringing efficiency as well as transparency with the help of increased use of technology.
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- 29 Jun 2023 05:38 PM
CGST Delhi West Commissionerate busts nexus of more than 30 fake firms and arrests a person in special drive against fake registrations
CGST Delhi West Commissionerate busts nexus of more than 30 fake firms and arrests a person in special drive against fake registrations
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- 29 Jun 2023 05:25 PM
Major Fraud Syndicate Involving Fake Firms Busted by DGGI in Jaipur
Introduction In an ongoing battle against fraudulent practices, the Directorate General of GST Intelligence (DGGI), Jaipur Zonal Unit, has made a significant breakthrough. The unit successfully exposed a massive Delhi-based crime syndicate, implicating it in a wide-ranging scam involving hundreds of fake firms and fraudulent ITC claims.
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- 29 Jun 2023 05:31 PM
CGST busts Network of Fraudulent Firms and Arrests Key Suspect
Source: https://taxguru.in/goods-and-service-tax/cgst-busts-fake-firms-nexus-arrests-suspect.html
CGST Delhi West Commissionerate busts nexus of more than 30 fake firms and arrests a person in special drive against fake registrations
In a critical crackdown on financial malpractices, the CGST Delhi West Commissionerate has successfully busted a network of more than 30 fake firms. The apprehension of a key individual in the process provides a glimpse into the depths of GST fraud in the region.
- 28 Jun 2023 05:40 PM
Grid scale battery storage may get a GST sweetener
The GST on lithium ion batteries used for utility or grid-scale power projects is18% and that on non-lithium ion batteries is 28%.
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