01 Mar 2025 06:21 PM
New

THIS state-run bank receives GST notice of ₹699.5 crore, stock down 5% in four sessions

Source: https://www.livemint.com/market/stock-market-news/indian-overseas-bank-receives-gst-notice-of-rs-699-5-crore-stock-down-5-in-four-sessions-11740760168309.html

Indian Overseas Bank received a ₹699.5 crore GST notice from the Chennai government. The stock has lost nearly 5% in the last four market sessions. However, the stock has paid off with 400% returns in the last five years.

01 Mar 2025 06:26 PM
New

FM Sitharaman confirms THESE many central, state schemes now under DBT: How will this help beneficiaries?

Source: https://www.livemint.com/economy/fm-sitharaman-confirms-these-many-central-state-schemes-now-under-dbt-how-will-this-help-beneficiaries-11740823516360.html

Finance Minister Nirmala Sitharaman stated on Saturday that out of 1,200 central and state government schemes, 1,100 are now under DBT, ensuring that money is transferred directly to the beneficiaries' bank accounts.

27 Feb 2025 05:57 PM
New

SC extends criminal law safeguards to GST, Customs Act

Source: https://www.livemint.com/news/india/supreme-court-cgst-act-customs-act-gst-violations-tax-law-violations-criminal-proceedings-coercive-action-11740648072672.html

A three-judge Supreme Court bench ruled that individuals accused under GST and customs laws would be entitled to the same legal protections as those accused under criminal law.

24 Feb 2025 06:24 PM

Google Pay rolls out convenience fee on utility payments. Check details

Source: https://www.livemint.com/money/personal-finance/google-pay-rolls-out-convenience-fee-on-utility-payments-check-details-11740393451677.html

Google Pay will now charge a convenience fee on utility payments made with credit and debit cards, ranging from 0.5% to 1% of the transaction value, including GST. This follows similar actions by PhonePe and Paytm, raising concerns among users about the future of electronic payments.

24 Feb 2025 06:27 PM

LIC receives ₹57.2 crore GST notice from Delhi Government

Source: https://www.livemint.com/companies/news/lic-receives-rs-57-2-crore-gst-notice-from-delhi-government-11740398653932.html

Life Insurance Corporation of India received a goods and service tax notice from the State government of Delhi on February 24 asking for a ₹57.27 crore monetary sum. Shares of the PSU insurer closed lower after Monday's stock market session.

24 Feb 2025 06:21 PM

Companies News Today Live Updates on February 24, 2025: LIC receives ₹57.2 crore GST notice from Delhi Government

Source: https://www.livemint.com/companies/latest-company-news-today-on-february-24-2025-live-updates-11740354317420.html

Companies News Today Live Updates on February 24, 2025: Get the latest updates on the company's financial performance, strategic acquisitions, and market shifts. Explore detailed insights on mergers, acquisitions, financial results, and leadership changes that are shaping the business landscape across industries.

20 Feb 2025 06:20 PM

ITC, Godfrey Phillips India share prices decline up to 3% on GST hike concerns

Source: https://www.livemint.com/market/itc-godfrey-phillips-share-prices-decline-up-to-3-on-gst-hike-concerns-11740023708619.html

Stock Market Today: ITC and Godfrey Phillips India share prices declined up to 3% in the morning trade on Thursday amid GST hike concerns. The news reports suggested that the government may be considering a GST hike on cigarettes and other tobacco products.

20 Feb 2025 06:15 PM

Online gaming: One nation, one law may blaze a way out of the maze

Source: https://www.livemint.com/news/centre-weighs-single-law-to-regulate-online-gaming-11739958588728.html

The Centre plans to bring India's online gaming companies under a single regulatory framework, eliminating the patchwork of state-level laws that currently governs the sector, two people aware of the development said.

19 Feb 2025 05:58 PM

Vodafone Idea share price jumps 4% after strong rebuttal against GST payment

Source: https://www.livemint.com/market/stock-market-news/vodafone-idea-share-price-jumps-4-after-strong-rebuttal-against-gst-payment-11739949436131.html

Vodafone Idea has received an order under the Central Goods and Services Tax (CGST) Act, 2017, dated February 18, requiring the payment of penalty and interest.

17 Feb 2025 06:22 PM

KSCAA Representation on Streamlining GST Registration Process

Source: https://taxguru.in/goods-and-service-tax/kscaa-representation-streamlining-gst-registration-process.html

Karnataka State Chartered Accountants Association (KSCAA) has presented a detailed representation to the CBIC Chairman, highlighting challenges faced in the GST registration process and proposing solutions to enhance efficiency and user-friendliness. Key issues include inconsistent documentation requirements between central and state authorities, logistical hurdles in biometric verification, inaccuracies in geocoding addresses, and lack of transparency in centrally allocated registrations. KSCAA suggests implementing uniform Standard Operating Procedures (SOPs), enabling biometric verification at local GST Seva Kendras, and integrating reliable mapping tools. They advocate for technology-driven solutions like online verification, SMS alerts for spot visits, and fast-tracking registration approvals within a stipulated time frame. KSCAA emphasizes the need for a case-by-case evaluation of applications, especially for home-based businesses, and urges clarity on landlord-tenant registration conflicts. Additionally, they recommend establishing redressal mechanisms for frivolous rejections and enhancing portal transparency to provide real-time updates and officer details. These measures aim to simplify the GST registration process, reduce delays, and support genuine taxpayers in compliance efforts.