GST revenue collection for April 2023 highest ever at ₹1.87 lakh crore
  • 01 May 2023 06:39 PM
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GST revenue collection for April 2023 highest ever at ₹1.87 lakh crore

Source: https://www.livemint.com/news/india/gst-revenue-collection-for-april-2023-highest-ever-at-rs-1-87-lakh-crore-11682943990643.html

The gross GST revenue collected in the month of April, 2023 is ₹ 1,87,035 crore of which CGST is ₹38,440 crore, SGST is ₹47,412 crore, IGST is ₹89,158 crore (including ₹34,972 crore collected on import of goods) and cess is ₹12,025 crore (including ₹901 crore collected on import of goods).

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New GST rules in effect from today for businesses with turnover of over ₹100 crore. Details here
  • 01 May 2023 06:36 PM
  • New

New GST rules in effect from today for businesses with turnover of over ₹100 crore. Details here

Source: https://www.livemint.com/news/india/new-gst-rules-in-effect-from-today-for-businesses-with-turnover-of-over-rs-100-crore-details-here-11682901697999.html

Businesses whose turnover is ₹100 crore and above will now have to upload their electronic invoices on Invoice Registration Portal (IRP) within 7 days of the issue of such invoice with effect from May 1, GST Network has said.

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KPTCE: Representation on glitches and hardship in payment of taxes & filing of returns
  • 29 Apr 2023 05:19 PM
  • New

KPTCE: Representation on glitches and hardship in payment of taxes & filing of returns

Source: https://taxguru.in/goods-and-service-tax/kptce-representation-glitches-hardship-payment-taxes-filing-returns.html

KSCAA has sent a representation to the The commissioner of Commercial Tax, on umpteen number of glitches and hardship in payment of taxes and filing of returns under Karnataka Tax on Professions, Trades, Callings and Employments Act, 1976

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10 NEW Functionality introduced by GSTN on GST Portal
  • 28 Apr 2023 05:51 PM
ट्रांसपोर्ट सेक्टर की  सेवाओं के मामले में “फॉरवर्ड चार्ज के लिए विकल्प” लेने की तिथि को 15 मार्च 2023 से एक बार बढाने की अपील
  • 26 Apr 2023 05:57 PM

ट्रांसपोर्ट सेक्टर की सेवाओं के मामले में “फॉरवर्ड चार्ज के लिए विकल्प” लेने की तिथि को 15 मार्च 2023 से एक बार बढाने की अपील

Source: https://taxguru.in/goods-and-service-tax/extend-date-opting-forward-charge-case-gta-services.html

सेवा में, सदस्य सचिव/अध्यक्ष जी जीएसटी परिषद नयी दिल्ली आदरणीय, विषय :- ट्रांसपोर्ट सेक्टर की सेवाओं के मामले में “फॉरवर्ड चार्ज के लिए विकल्प” लेने की तिथि को 15 मार्च 2023 से एक बार बढाने की अपील.

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Request to Extend date of ‘Opting for Forward charge’ in case of GTA Services
  • 26 Apr 2023 05:50 PM

Request to Extend date of ‘Opting for Forward charge’ in case of GTA Services

Source: https://taxguru.in/goods-and-service-tax/extend-date-opting-charge-case-gta-services.html

Re:- Extend the date of “Opting for Forward charge” in case of GTA Services.
With reference to above it is respectuflly submitted that the Goods Transport Agencies have to submit Annexure V to opt for Forward charge of Tax and for the Financial Year 2023-24 and the due date of submission of the Annexure V by the Transport company was 15th March 2023. Lot of dealers providing the GTA Services and desirous to go for Forward charge with respect failed to submit the Annexure V on or before due date due to various reason including ignorance of this procedure. . In most of the cases these dealers came to know this failure when the recipients of their service enquire from them the supportive documents of applying in Annexure V in the month of April 2023.

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Bajaj Allianz, ICICI Prudential face IT probe for evading taxes since 2017
  • 25 Apr 2023 05:49 PM

Bajaj Allianz, ICICI Prudential face IT probe for evading taxes since 2017

Source: https://www.livemint.com/news/india/bajaj-allianz-icici-prudential-face-it-probe-for-evading-taxes-since-2017-11682345278385.html

The Income Tax officials have estimated that the insurance companies under probe owe about ₹5,000 crore in unpaid taxes, interest and penalties since July 2017, when the government implemented the GST, the report said.

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No GST on transfer of Jaipur international airport business to Adani Group
  • 22 Apr 2023 05:27 PM

No GST on transfer of Jaipur international airport business to Adani Group

Source: https://www.livemint.com/news/india/no-gst-on-transfer-of-jaipur-international-airport-business-to-adani-group-11682149398380.html

The AAI had approached the Rajasthan bench of the Authority for Advance Ruling (AAR) seeking a ruling on whether the transfer of the business to Adani Group.

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India well-prepared to meet peak power demand: Singh
  • 21 Apr 2023 10:36 AM

India well-prepared to meet peak power demand: Singh

Source: https://www.livemint.com/news/india/india-is-well-prepared-to-meet-summer-power-demand-says-power-and-new-and-renewable-energy-minister-raj-kumar-singh-11682014451463.html

New Delhi: Union minister for power and new and renewable energy Raj Kumar Singh expressed confidence that the country is well-prepared to meet demand this summer even as power demand soared to near record levels. In an interview, Singh highlighted the government’s efforts to ensure adequate availability of coal at thermal power plants, with domestic coal stock standing at 31.71 million tonnes as of Wednesday. Edited excerpts:

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Residential vs Commercial: Tips to optimize your property taxes in FY24
  • 15 Apr 2023 06:14 PM

Residential vs Commercial: Tips to optimize your property taxes in FY24

Source: https://www.livemint.com/money/personal-finance/residential-vs-commercial-tips-to-optimize-your-property-taxes-in-fy24-11681470451239.html

The Income Tax Act of 1961 governs property tax as well as other indirect taxes like GST and stamp duty. In the income tax return, all sorts of properties are taxed under the head "income from house property." Residential and commercial properties are taxed differently in India; for example, residential property taxes are frequently based on the assessed value of the property, whereas commercial property taxes are frequently based on both the assessed value of the property and the income earned by the business. In FY24, here’s how individuals can optimize their residential and commercial taxation.

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