01 Feb 2023 07:05 PM
New

Centre, states collect around ₹1.56 trillion in GST in January, second highest ever

Source: https://www.livemint.com/economy/centre-states-collect-around-1-56-trillion-in-gst-in-january-second-highest-ever-11675183269015.html

Central and state governments have collected around ₹1.56 trillion in Goods and Services Tax (GST) revenue in January, showing an improvement of 24% over what was collected in the same month a year ago, finance ministry said in a statement on Tuesday.

01 Feb 2023 07:08 PM
New

Hotels body seeks infra status, tax sops from budget

Source: https://www.livemint.com/companies/news/hotels-body-seeks-infra-status-tax-sops-from-budget-11675184133285.html

GST on hotel tariffs and restaurants within hotel premises must be reduced from 18% to 12% to ensure that Indian hotels are on par with global markets

01 Feb 2023 07:12 PM
New

Centre, states net ₹1.56 tn GST in Jan

Source: https://www.livemint.com/news/india/centre-states-net-1-56-tn-gst-in-jan-11675188278737.html

Central and state governments collected ₹1.56 trillion in GST in January, marking the second-highest collection ever and an improvement of 24% from a year ago, the finance ministry said

01 Feb 2023 07:17 PM

Chhattisgarh CM Baghel demands THIS ahead of Budget 2023

Source: https://www.livemint.com/news/india/chhattisgarh-cm-baghel-demands-this-ahead-of-budget-2023-11675214047948.html

Ahead of Budget 2023, Chhattisgarh CM Bhupesh Baghel has put forth the demands of people which includes new trains and release of GST.

01 Feb 2023 07:20 PM

Budget: Govt to infuse ₹52,937 crore into BSNL in FY24

Source: https://www.livemint.com/companies/news/budget-govt-to-infuse-rs-52-937-crore-into-bsnl-in-fy24-11675245461615.html

For FY24, the government has provisioned ₹2218 crore as grant in aid for the BSNL’s GST payments on purchase of 4G spectrum, and an additional ₹2671 crore for VRS

31 Jan 2023 05:58 PM

Budget 2023: Why is it necessary to focus on agricultural reforms

Source: https://www.livemint.com/news/india/budget-2023-why-is-it-necessary-focus-on-agricultural-reforms-11675099038416.html

Food and fertilizer subsidy is an important element in budgetary allocations, where international prices of hydrocarbons will play a crucial role in the fiscal math.

31 Jan 2023 06:03 PM

Income tax refunds quicker now: President Murmu

Source: https://www.livemint.com/economy/income-tax-refunds-quicker-now-president-murmu-11675148701591.html

As per official data, the tax department issued ₹2.40 trillion in tax refunds between 1 April 2022 and 10 January 2023, an improvement of 58.74% year-on-year.

31 Jan 2023 06:07 PM

Centre’s revenues buoyant, fresh credit cycle has begun: Economic Survey

Source: https://www.livemint.com/economy/centres-revenues-buoyant-fresh-credit-cycle-has-begun-economic-survey-11675159644092.html

The Survey attributed the growth to structural reforms like the introduction of GST and the digitalisation of economic transactions, which it said, led to greater formalisation of the economy, expanded the tax net and enhanced tax compliance

31 Jan 2023 06:13 PM

Join Live webinar on BUDGET 2023 – Analysis of Indirect tax Proposals

Source: https://taxguru.in/goods-and-service-tax/join-live-webinar-budget-2023-analysis-indirect-tax-proposals.html

As we all know that budget plays a very important role in our professional as well personal life also with this objective we are going to organise one live session on Analysis of budget from indirect taxation perspective on Taxguru youtube channel. In this session we will cover complete 360 degree analysis of budget 2023 from indirect taxation perspective. The points of discussions are as under :

31 Jan 2023 06:18 PM

Validation enabled For all B2B transactions, selection of PoS State Code for HSN

Source: https://taxguru.in/goods-and-service-tax/validation-enabled-b2b-transactions-selection-pos-state-code-hsn.html

With reference to the circular https://cbic-gst.gov.in/pdf/circular-184.pdf a new validation has been incorporated. For all B2B transactions, selection of PoS State Code as ‘96- Other Country’ is enabled for HSN related to the Services by way of transportation of goods, including by mail or courier .