Source: https://www.livemint.com/news/india/ecom-sites-must-name-unregistered-sellers-11675442755252.html
The indirect tax authority is making process changes and deploying technology to achieve the goal of ‘universal tax compliance, said CBIC member, V. Rama Mathew said in an interview.
Read MoreThe minimum threshold of tax amount for launching prosecution under GST has been raised from ₹1 crore to ₹2 crore
The GST Council, chaired by Union Finance Minister Nirmala Sitharaman, will meet on 18 February. The 49th GST meeting is likely to take up a discussion on the taxation of 'pan masala' and 'gutka' firms. Besides, GST on online gaming, casinos, and horse racing may also come up for deliberations.
GST collection is expected to average around ₹1.50 lakh crore monthly and it will be the ‘new normal’ in FY24 said Central Board of Indirect Taxes and Customs (CBIC) chief Vivek Johri said on Thursday.
Read MoreThe budget did well to incline taxpayers towards a concessional tax regime that wipes the slate clean for taxation simplicity and also gives us a case study in behavioural economics
Read MoreMUMBAI : The government will introduce the revamped version of the Credit Guarantee Trust for Micro and Small Enterprises (CGTMSE) scheme from 1 April, infusing ₹9,000 crore to aid collateral-free lending to small businesses, finance minister Nirmala Sitharaman said on Wednesday.
Read MoreNirmala Sitharaman has presented the last full budget of the second Narendra Modi government. The finance minister had a tricky balancing act between stabilizing public finances and supporting India’s economic recovery, with risks from tilting too far on either side.
Read More2nd highest Gross GST collection in January 2023, breaching earlier 2nd highest record in the Month of October 2022
Read MoreSub: Request for waiver of late fee and/or penalty for delay in filing Annual Return & Reconciliation Statement u/s 44 of CGST Act, 2017
Read MoreSource: https://www.livemint.com/news/india/what-high-revenues-mean-for-budget-2023-11675179091546.html
New Delhi: As it prepares to present the 2023-24 budget, the Centre finds itself blessed with a good revenue position. Tax collections in 2022-23 are on course to better its own projections, which lends it comfort. Yet, whether this will continue into the next year depends on how consumption keeps growing, across consumer classes. Data suggests that smaller producers and consumers were hit harder than top producers and consumers in the last two years. If top consumers ease up on spending—against the backdrop of rising interest rates and job losses—budget 2023-24 might need to do its bit to ensure the smallest of Indian consumers spend.
Read MoreThe GST collection for January 2023 has reached over the ₹1.50 lakh crore mark for the third time this financial year, and is only second to the highest collection of ₹1.68 lakh crore in April 2022
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