- 08 Feb 2023 05:38 PM
- New
Govt to look into cement sector plea to cut GST
The suggestion comes at a time the Central government has scaled up its capital expenditure from ₹7.28 trillion in FY23 to ₹10 trillion in FY24 in the Union budget presented on 1 February.
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- 08 Feb 2023 05:43 PM
- New
GST clarity on crypto assets may take time
Source: https://www.livemint.com/news/india/gst-clarity-on-crypto-assets-may-take-time-11675792305063.html
New Delhi: Plans to bring in more clarity on whether or not the Goods and Services Tax (GST) is appliable for certain types of crypto asset transaction are likely to take more time as policy makers await the outcome of an investigation into specific cases.
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- 07 Feb 2023 05:38 PM
- New
Centre will not merge GST tax rates in FY24: Report
India's government will likely not contemplate merging tax rates for the Goods and Services Tax (GST) regime in the financial year FY24 to maintain stability. The plan of overhauling tax rates in GST has taken rounds for more than a year now.
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- 07 Feb 2023 05:45 PM
GST on digital services: Budget 2023-24 broadens scope of OIDAR
The levy of tax on Online information and Database Access Service (OIDAR) was introduced in India in 2001 under the erstwhile service tax regime and in 2016 the ambit of services was widened to include several digital services into the tax fold.
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- 07 Feb 2023 06:30 PM
DGGI, NFSU sign MoU for setting up of digital forensic laboratories
Quick and effective convictions of serious tax offenders not only secure government revenues and plug leakages but also ensure trade facilitation by ensuring a fair tax regime for the honest taxpayer
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- 06 Feb 2023 05:52 PM
Ease of GST compliance: Still a distant dream
GST compliances which were envisaged to be easier and less complex, have turned out to be a compliance nightmare with multiple and frequent changes in the tax returns and reporting requirements.
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- 06 Feb 2023 06:24 PM
Model GST Audit Manual
Source: https://taxguru.in/goods-and-service-tax/model-gst-audit-manual.html
This model GST Audit Manual is intended to be developed as a comprehensive document which would be helpful for the audit officers of the Gujarat State throughout the entire process of selection of taxpayers for audit till the completion of audit in an efficient and effective manner.
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- 04 Feb 2023 05:32 PM
'E-com sites must name unregistered sellers'
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.
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- 04 Feb 2023 05:36 PM
GST Council meeting on 18 Feb; Here's what is expected
The 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.
- 03 Feb 2023 05:43 PM
GST revenue of ₹1.50 lakh cr monthly to be new normal next fiscal: CBIC chief
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.
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