03 Jul 2023 06:11 PM
New

Over 12,000 fake entities in GST registration, CBIC plans for biometric authentication and geo-tagging

Source: https://www.livemint.com/news/india/cbic-tracks-12-000-fake-gst-registrations-plans-for-pan-india-biometric-authentication-and-geotagging-11688287221907.html

In the ongoing drive against fake registration, GST officers tracked 12,000 bogus entities across India. To curb rampant fraud cases, CBIC is planning to implement pan-India biometric authentication and geo-tagging of GST registered firms

03 Jul 2023 06:14 PM
New

50th GST Council meeting on 11 July: Here's what is expected

Source: https://www.livemint.com/economy/50th-gst-council-meeting-on-11-july-heres-what-is-expected-11688362887643.html

The 50th GST Council meeting will be held on 11 July in New Delhi. The council is expected to discuss measures to tighten tax evasion and fraud, the GoM report on online gaming, and the establishment of GST Appellate Tribunals

03 Jul 2023 06:23 PM
New

Impressive Growth in India’s GST Collection in June 2023

Source: https://taxguru.in/goods-and-service-tax/impressive-growth-indias-gst-collection-june-2023.html

In June 2023, India’s gross GST revenue hit ₹1,61,497 crore, indicating a 12% year-on-year growth. This marks the fourth instance where the gross GST collection has surpassed the ₹1.6 lakh crore mark since the implementation of the GST regime. It also marks the 16th consecutive month where the collections have been more than ₹1.4 lakh crore and the 7th time that the collections have exceeded ₹1.5 lakh crore.

03 Jul 2023 06:17 PM

More businesses to be brought under e-invoicing scheme from 1 August

Source: https://www.livemint.com/economy/more-businesses-to-be-brought-under-e-invoicing-scheme-from-1-august-11688384585361.html

New Delhi: More businesses will be brought under the e-invoicing scheme, meant to track business-to-business sales, from August, and small businesses will be allowed to sell through e-commerce platforms without a Goods and Services Tax (GST) registration from October, said an official on Monday.

03 Jul 2023 06:26 PM

10 days Advanced GST Certificate Course (Virtual) from 10th July 2023

Source: https://taxguru.in/goods-and-service-tax/10-days-advanced-gst-certificate-virtual-10th-july-2023.html

Join the 10-day Advanced GST Certificate Course (Virtual) from 10th July 2023 to 21st July 2023 and enhance your expertise in Goods and Services Tax (GST). Organized by ACAE in association with AIFTP, IDTPF, STAR and Taxguru, this course is designed to provide comprehensive knowledge and insights into the intricate aspects of GST and allied laws.

01 Jul 2023 06:58 PM

The ‘Good and Simple Tax’ has broadly achieved its goals

Source: https://www.livemint.com/opinion/online-views/the-good-and-simple-tax-has-broadly-achieved-its-goals-11688116457031.html

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.

01 Jul 2023 06:53 PM

GST collection grows 12% to over ₹1.61 lakh crore in June

Source: https://www.livemint.com/economy/goods-and-services-tax-gst-grows-12-percent-to-over-rs-1-61-lakh-crore-in-june-11688203312000.html

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

01 Jul 2023 07:02 PM

Centre, states collect ₹1.61 trillion in GST in June

Source: https://www.livemint.com/news/india/centre-states-collect-rs-1-61-trillion-in-gst-in-june-11688207418763.html

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NEW DELHI: Central and state governments collected ₹1.61 trillion in Goods and Services Tax (GST) in June. This amount reflects a 12% increase compared to the revenue collected from GST in the same month of the previous year.

01 Jul 2023 07:10 PM

Form DRC-01B – Managing Liability Differences in GST Returns

Source: https://taxguru.in/goods-and-service-tax/form-drc-01b-managing-liability-differences-gst-returns.html

In this article, we delve into the intricate details of Form DRC-01B in terms of return compliance. We address frequently asked questions (FAQs) about Form DRC-01B, its applicability, filing, and the repercussions of non-compliance. We will also walk you through the step-by-step process of filing Form DRC-01B Part B.

30 Jun 2023 05:12 PM

Fiscal federalism needs a look-in by the 16th Finance Commission

Source: https://www.livemint.com/opinion/columns/the-challenges-of-fiscal-federalism-reflections-for-the-sixteenth-finance-commission-16th-fc-11688060603644.html

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.