ROLE OF GST
Budget 2024: India’s GST kitty remains central focus; a look at overall collection India GST Collection Budget 2024 | Finance Minister Nirmala Sitharaman is set to incorporate robust Goods and Services Tax (GST) collections, hitting Rs 2.1 lakh crore in April 2024, into Union Budget 2024. With May's collections at Rs 1.73 lakh cro...
01 Jul, 2024, 01.07 PM ISTMost of top-level executives have positive perception of GST: Deloitte survey A Deloitte survey shows growing confidence in India's GST among C-suite executives, with 84% perceiving it positively in 2024, up from 72% in 2023. Key reforms suggested include rationalizing tax rates, improving dispute resolution, and enhancing au...
19 Jun, 2024, 11.59 AM ISTAuto industry body seeks cut in two-wheeler GST; SIAM suggests three-level slabs based on fuel types Society of Indian Automobile Manufacturers (Siam) has requested a reduction in GST rates on two-wheelers in India. They proposed different slabs for different types of two-wheelers to lower the rates. Siam also wants the removal of the 3% cess on hi...
13 Jun, 2024, 11.53 AM IST- ADVERTISEMENT
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11 Jun, 2024, 03.18 PM ISTRealty hopes reforms, infra development continuity as Modi 3.0 takes charge Industry players and experts are emphasizing the need for tax rationalization and reduced approval costs to foster a more conducive environment for investment and development.
10 Jun, 2024, 01.11 AM ISTCongress leaders condole BJP leader Sushil Modi's demise Congress president Mallikarjun Kharge and party's General Secretary Jairam Ramesh have condoled the death of veteran BJP leader Sushil Kumar Modi. Kharge expressed condolences to the family and supporters of Modi, who had made a significant contribu...
14 May, 2024, 10.58 AM ISTSupreme Court admits petition on imposition of GST on joint development pacts The Supreme Court admits a petition challenging GST imposition on transfer of development rights in joint development agreements, impacting real estate projects nationwide. Notices issued to government bodies for replies. Argument centers on whether...
13 May, 2024, 03.15 PM ISTGovernment adopted pro-poor approach in GST implementation, revenues reached pre-GST levels: Nirmala Sitharaman Sitharaman's efficient tax administration highlighted in maintaining stable revenues with a pro-poor approach in GST implementation. Despite lower tax rates, revenues reached pre-GST levels, benefiting states. The turnover threshold rose, tax submis...
06 May, 2024, 08.14 PM ISTHow GST ensured fast credit growth to MSMEs In January 2024, credit to the industry expanded by 7.8% y-o-y, down from the 8.7% growth recorded in January 2023.
20 Apr, 2024, 09.53 AM ISTMadras HC stays Rs 80 cr GST demand on Hyundai seconded employees pay The company had challenged the December 23, 2023 tax demand notice from the GST authorities, which had considered the entire salary amount paid to seconded employees as taxable. Secondment, a common practice among global companies, is a temporary ar...
29 Mar, 2024, 12.30 AM ISTFM Sitharaman asks GST officers to leverage tech to plug loopholes, better taxpayer services Finance Minister Nirmala Sitharaman urged GST officers to leverage technology, share best practices, and ensure seamless coordination across states at the National Conference of Enforcement Chiefs of the State and Central GST Formations. She emphasi...
04 Mar, 2024, 09.14 PM ISTCoal sector contributes over Rs 70,000 cr every year to Centre, states: Govt "Coal production generates substantial revenue for both Centre and state governments, with royalty collections reaching Rs 23,184.86 crore in the fiscal year 2022-23," the statement said. Coal is the single-largest contributor to railway freight, wi...
26 Feb, 2024, 09.32 PM ISTRealty redevelopment projects GST ruling likely to hit cost dynamics across markets Telangana High Court dismisses a legal challenge by a real estate developer regarding the GST on transfer of development rights; real estate projects involving redevelopment and rehabilitation are crucial for Mumbai's property market due to the shor...
10 Feb, 2024, 12.28 AM ISTUnion Budget 2024: Will FM Sitharaman address the complexities in India's tax system? Budget 2024: India's indirect tax landscape is in need of significant changes to promote economic growth and a more business-friendly environment. The Goods and Services Tax (GST) is a key component of the tax reform journey, but its complexity ofte...
01 Feb, 2024, 07.09 AM ISTInterim Budget 2024: Simplified GST structure tops logistics industry wish list Industry leaders expect the government to prioritise the completion of several components of the National Logistics Policy, Gati Shakti, multi-modal hubs and inland waterways.
31 Jan, 2024, 02.35 PM ISTRestaurants' body seeks restoration of input tax credit, higher GST rate of 12 pc The National Restaurant Association of India (NRAI) has called for the government to restore input tax credit to restaurants and increase the GST rate to 12% from the current 5%, ahead of the upcoming Union Budget. The association believes that bala...
15 Jan, 2024, 03.22 PM ISTHow data and emerging technologies can play a pivotal role in bringing down cost of logistics in India Going beyond infrastructural issues, India’s logistics sector has a lot to grapple with. One easy solution could be digital integration.
28 Dec, 2023, 09.32 AM ISTGST council’s role only recommendatory, not binding, asserts Madras High Court This decision is significant as it provides support to taxpayers facing GST demands solely based on council discussions or clarificatory circulars. However, the court highlighted that the government retains the authority to make changes, including...
22 Nov, 2023, 01.00 PM ISTThe Winning Edge Communication Strategies for Leaders at IIM Ahmedabad IIM Ahmedabad offers a program called "Enhance Your Advantage: Leaders' Communication Strategies" that helps leaders develop effective communication strategies to achieve their goals. The program covers various topics such as communication styles, p...
26 Aug, 2023, 06.18 PM ISTGST Council to meet over eGaming amendments; Meta’s Nick Clegg on AI’s role in tech & more After a long, dark funk, the online gaming industry in India might have something to cheer for, albeit prematurely. The Goods and Services Tax (GST) Council will meet on August 2 to deliberate on legal amendments for the levy of 28% GST on online ga...
27 Jul, 2023, 08.11 AM IST