CAG highlights irregularities in gems & jewellery sector with underlying risk of tax evasion https://economictimes.indiatimes.com/industry/cons-products/fashion-/-cosmetics-/-jewellery/cag-highlights-irregularities-in-gems-jewellery-sector-with-underlying-risk-of-tax-evasion/articleshow/93433856.cms Download Economic Times App to stay updated with Business News
Category: GST
Input tax credit system needs automation – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/input-tax-credit-system-needs-automation/article65695096.ece A seamless, system-driven structure that does not rely on human intervention will usher in a fraud-free and future-ready GST The input tax credit
VS Krishnan writes: GST 2.0 — Next stage of reform in the tax regime requires creating federal institutions–INDIAN EXPRESS
Clipped from: https://indianexpress.com/article/opinion/columns/gst-2-0-next-stage-of-reform-in-the-tax-regime-requires-creating-federal-institutions-8029959/ VS Krishnan writes: It can bring together senior officers from the Centre and states in an institutional forum registered under the Society Act.
Behind the fuss about GST on essential items: Two sides of the same coin – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/behind-the-fuss-about-gst-on-essential-items-two-sides-of-the-same-coin/articleshow/93128998.cms Synopsis The levy of GST on essential items such as pulses, cereals, and rice has led to an uproar that it’ll lead to
Only GST-registered tenants face 18% tax on rent paid, say experts | Business Standard News
Clipped from: https://www.business-standard.com/article/pf/only-gst-registered-tenants-face-18-tax-on-rental-homes-experts-122072501164_1.html One common query is what happens when a person not registered under GST rents a residential property to a person registered under GST
GST to be ‘marginal’ on dairy & agro products: Finance Ministry – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-economy/gst-to-be-marginal-on-dairy-agro-products-finance-ministry/article65681633.ece No GST on fresh, pasteurised milk Finance Ministry has said that the net impact of GST on various dairy and agro products would
Widening the net – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/extending-gst-to-all-packaged-food-items-makes-sense-but-there-could-arise-serious-implementation-issues/article65670874.ece Extending GST to all packaged food items makes sense, but there could arise serious implementation issues The move — following the 47 th GST Council
Widening the net – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/editorial/extending-gst-to-all-packaged-food-items-makes-sense-but-there-could-arise-serious-implementation-issues/article65670874.ece Extending GST to all packaged food items makes sense, but there could arise serious implementation issues The move — following the 47 th GST Council
GST on pre-packed food items: Firms not passing on ITC may face profiteering charges – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/gst-on-pre-packed-food-items-firms-not-passing-on-itc-may-face-profiteering-charges/article65668305.ece Post 5% levy, many companies have raised prices tothe same extent Companies not passing on the benefit of Input Tax Credit (ITC) on
States backed removal of GST exemptions: Revenue Secretary Tarun Bajaj – The Economic Times
lipped from: https://economictimes.indiatimes.com/news/economy/policy/states-backed-removal-of-gst-exemptions-revenue-secretary-tarun-bajaj/articleshow/93061563.cms Synopsis Revenue Secretary Tarun Bajaj told ET that the tax revenue growth was robust and the government should be able to meet its
Removing GST bottlenecks and turbocharging MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/view-removing-bottlenecks-and-turbocharging-msmes/articleshow/93037259.cms Synopsis A 2021 Small Industries Development Bank of India (Sidbi) survey showed that about 67% of MSMEs were closed for three months during
SC to Govt: Open the GST for 60 days from Sept 1 to Oct 31 to settle all claims – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/sc-to-government-open-common-portal-from-sept-1-to-oct-31-for-filing-of-transitional-credit-claim-under-gst/article65671605.ece Order to benefit assessees unable to transition unutilised credit of the pre-GST regime The Supreme Court on Friday directed the Government to open
Companies not passing on benefit of ITC on pre-packed dairy, food products could face profiteering charges – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/economy/companies-not-passing-on-benefit-of-itc-on-pre-packed-dairy-food-products-could-face-charge-of-profiteering/article65666365.ece The general opinion is that the price need not go up by a flat 5 per cent New Delhi, July Companies not passing
*Over 40,000 GST returns for 2018-19 under scrutiny | The Financial Express
Clipped from: https://www.financialexpress.com/economy/over-40000-gst-returns-for-2018-19-under-scrutiny/2601998/ The central tax authorities have booked thousands of cases involving fake ITC of over Rs 50,000 crore in the past one-and-half year. While
Removing GST bottlenecks and turbocharging MSMEs – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-commentary/view-removing-bottlenecks-and-turbocharging-msmes/articleshow/93037259.cms Synopsis A 2021 Small Industries Development Bank of India (Sidbi) survey showed that about 67% of MSMEs were closed for three months during
No need to distort the GST package – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/no-need-to-distort-the-gst-package/articleshow/93012976.cms Synopsis GST allows manufacturers to claim credit for the taxes paid on inputs and creates audit trails in the income and production chain.
GST: Understanding how the rules around tax on rent will apply to tenants | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-understanding-how-the-rules-around-tax-on-rent-will-apply-to-tenants-122072100921_1.html Businesses with a turnover of less than Rs 40 lakh per annum and salaried individuals are not required to pay the GST on
A lot needs to be done about GST: Ahluwalia – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/a-lot-needs-to-be-done-about-gst-ahluwalia/article65667352.ece Chief of Bureau The Hindu Business Line (Hyderabad) Richa Mishra along with her daughters presenting a memento to former deputy chairman of the
No need to distort the GST package – The Economic Times
Clipped from: https://economictimes.indiatimes.com/opinion/et-editorial/no-need-to-distort-the-gst-package/articleshow/93012976.cms Synopsis GST allows manufacturers to claim credit for the taxes paid on inputs and creates audit trails in the income and production chain.
Renting apartments gets costlier for companies with new GST rates in effect | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/renting-apartment-get-costlier-for-companies-with-new-gst-rates-in-effect-122072000598_1.html The rent of apartments for top executives will attract an 18 per cent Goods and Services Tax (GST) As the revised rates of GST after