The ‘Good and Simple Tax’ has broadly achieved its goals
  • 30 Jun 2023 05:18 PM
  • New

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.

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GST has been a gamechanger for India’s economy
  • 30 Jun 2023 05:15 PM
  • New

GST has been a gamechanger for India’s economy

Source: https://www.livemint.com/opinion/online-views/gst-has-been-a-gamechanger-for-india-s-economy-11688107459257.html

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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Fiscal federalism needs a look-in by the 16th Finance Commission
  • 30 Jun 2023 05:12 PM
  • New

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.

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Major Fraud Syndicate Involving Fake Firms Busted by DGGI in Jaipur
  • 29 Jun 2023 05:25 PM

Major Fraud Syndicate Involving Fake Firms Busted by DGGI in Jaipur

Source: https://taxguru.in/goods-and-service-tax/dggis-major-crackdown-on-fraud-syndicate-operating-across-14-states.html

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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CGST busts Network of Fraudulent Firms and Arrests Key Suspect
  • 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.

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Tata Sons challenges ₹1,500 cr tax claim on Docomo loan payment: Report
  • 28 Jun 2023 05:46 PM

Tata Sons challenges ₹1,500 cr tax claim on Docomo loan payment: Report

Source: https://www.livemint.com/industry/telecom/tata-sons-challenges-rs-1-500-cr-tax-claim-on-docomo-loan-payment-report-11687918000445.html

Tata Sons challenges a ₹1,500 crore tax claim settlement on defunct Docomo telecom, arguing that GST is not liable for liquidity damages. The case is ongoing.

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Grid scale battery storage may get a GST sweetener
  • 28 Jun 2023 05:40 PM
Amnesty Scheme Under GST – Avail benefits before 30th June 2023
  • 28 Jun 2023 05:52 PM

Amnesty Scheme Under GST – Avail benefits before 30th June 2023

Source: https://taxguru.in/goods-and-service-tax/amnesty-scheme-gst-avails-benefits-30th-june-2023.html

Hurry up Taxpayers! 30th June, 2023 is the last day to avail the benefits of the Amnesty Scheme Under GST. Amnesty scheme under the Goods and Services Tax (GST) scheme offers benefits to non-filers of GSTR-4, GSTR-9, and GSTR-10 returns, as well as for the revocation of cancellation of registration and the deemed withdrawal of Best Judgement Assessment orders.

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HDFC Life’s FY24 may be dull but there are bright spots ahead
  • 26 Jun 2023 05:08 PM

HDFC Life’s FY24 may be dull but there are bright spots ahead

Source: https://www.livemint.com/market/mark-to-market/hdfc-life-s-fy24-may-be-dull-but-there-are-bright-spots-ahead-11687714042698.html

In FY23, a good 56% of individual annualized premium equivalent (APE) for the company was from the bank channel. Going ahead, it plans to increase the number of policies for improving APE growth.

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