Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-gst-hike-on-textiles-will-put-financial-burden-on-85-population-if-not-withdrawn-traders-to-piyush-goyal/2398296/ Ease of Doing Business for MSMEs: In November 2021, the government had notified uniform GST at 12 per cent on man made fibre (MMF), MMF yarn, MMF
Category: GST
Is Taxman getting over-aggressive? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/is-taxman-getting-over-aggressive/article38135026.ece While many recent searches may be justified, more clarity in the GST law is needed to ensure fairness During the first few years
Xiaomi India evaded ₹653 cr customs duty, says DRI – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/info-tech/xiaomi-india-evaded-653-cr-customs-duty-says-finmin/article38127074.ece DRI raided the firm, initiated an investigation Directorate of Revenue Intelligence (DRI has issued show-cause notices to mobile handset manufacturer Xiaomi Technology India
GST hike on textiles will put financial burden on 85% population if not withdrawn: Traders to Piyush Goyal – The Financial Express
Clipped from: https://www.financialexpress.com/industry/sme/msme-eodb-gst-hike-on-textiles-will-put-financial-burden-on-85-population-if-not-withdrawn-traders-to-piyush-goyal/2398296/ Ease of Doing Business for MSMEs: In November 2021, the government had notified uniform GST at 12 per cent on man made fibre (MMF), MMF yarn, MMF
Crypto platforms lack clarity on tax provisions: Industry – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/crypto-platforms-lack-clarity-on-tax-provisions-industry/articleshow/88677521.cms SynopsisAfter the Goods and Services Department, which slapped a ₹40 crore GST demand on crypto exchange WazirX last month, the Directorate General of
Extending the GST compensation – The Hindu
Clipped from: https://www.thehindu.com/business/extending-the-gst-compensation/article38105201.ece?homepage=true What is the GST payment due to States? Why are several States demanding a continuation of the compensation beyond June 2022? The story
‘New GST regime for food delivery apps does not mean new tax’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/new-gst-regime-for-food-delivery-apps-does-not-mean-new-tax/article38101517.ece?homepage=true Removal of Inverted Duty Structure on footwear to benefit producers, consumers in long run: Govt officials New Goods and Services Tax (GST) regime
Deferral of GST hike: Textiles sector pins hopes on better options – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/textiles-sector-pins-hopes-on-better-options/article38094094.ece Proposes alternatives, including ones that can correct inversion, generate revenue The GST Council’s last-minute deferment of a proposed rate hike for lower-end textile
Restrictive GST rules take effect | Business Standard Column
Clipped from: https://www.business-standard.com/article/opinion/restrictive-gst-rules-take-effect-122010300050_1.html Many changes in the GST laws have come into effect from the beginning of this year The Commerce Ministry has let the exporters
More crypto exchanges to find taxmen knocking their door this year – The Hindu BusinessLine
lipped from: https://www.thehindubusinessline.com/money-and-banking/cryptocurrency/more-crypto-exchanges-to-find-taxmen-knocking-their-door-in-the-new-year/article38091785.ece Investigation on nearly half-a-dozen exchanges found GST evasion, and collected over ₹70 cr. With the higher and higher number of investments and investors
GST 2022: GST: From rate rationalisation to reduction in compliance burden, what to expect from indirect taxes in 2022 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-from-rate-rationalisation-to-reduction-in-compliance-burden-what-to-expect-from-indirect-taxes-in-2022/articleshow/88605813.cmsSynopsis The Government has made many changes with respect to self-certification of audit reports, creating a compliance driven process through interplay of GST returns,
GST Council defers rate hike in textiles, refers issues to ministers group | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-council-defers-rate-hike-in-textiles-refers-issues-to-ministers-group-121123100770_1.html ‘We will retain the status quo’, says Finance Minister Nirmala Sitharaman after emergency meeting in Delhi. Union Finance Minister Nirmala Sitharaman The Goods
Increased imports, IT raids fuel GST collection in Dec 2021 | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/increased-imports-it-raids-fuel-gst-collection-in-dec-2021-122010100645_1.html Gross GST revenues collected in December 2021 stood at Rs 1,29,780 crore, 13 per cent higher than GST revenues collected in same month
Food aggregators like Swiggy and Zomato to collect 5% GST beginning January 1 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/food-aggregators-like-swiggy-and-zomato-to-collect-5-gst-beginning-jan-1/articleshow/88630235.cmsSynopsis Currently, restaurants registered under GST are collecting and depositing the tax. Also, cab aggregators like Uber and Ola will have to collect 5
All you need to know about GST compensation – NEWS – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/todays-paper/tp-news/article38084354.ece States are seeking an extension of GST compensation for five more years. Here’s why. What is GST compensation? The introduction of the Goods
Crypto exchange WazirX dodged Rs 40.5 crore in tax, says GST department – The Economic Times
Clipped from: https://economictimes.indiatimes.com/tech/tech-bytes/wazirx-under-tax-lens-gst-department-says-crypto-exchange-evaded-rs-40-5-crore-in-taxes/articleshow/88608909.cmsSynopsis Late on Thursday evening, the tax department recovered Rs 49.2 crore from the company – the GST owed plus interest and penalties. Mumbai: The
Relook at inverted duty structure for textiles, the main agenda – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/economy/relook-at-inverted-duty-structure-for-textiles-the-main-agenda/article38073800.ece A major bone of contention has been the proposed hike in rate for textiles from 5 per cent to 12 per cent with
Why SEBI’s new IPO norms could work in the longer run – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/markets/why-sebis-new-ipo-norms-could-work-in-the-longer-run/article38069325.ece The markets regulator has decided to tighten norms to ensure that there is no mis-use of the funds Why has Sebi tightened the
Recovery to be initiated in case of only unpaid self-assessed GST liability – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/news/national/recovery-to-be-made-of-only-unpaid-self-assessed-gst-liability-says-cbic/article38070091.ece Government considering ‘suitable’ guidelines for implementation of such provisions Unpaid tax on self-declared supplies by a GST assesee will be considered as admitted
GST Council to discuss rollback of inverted duty structure in textiles | Business Standard News
Clipped from: https://www.business-standard.com/article/economy-policy/gst-council-to-discuss-inverted-duty-structure-amid-demands-of-rollback-121123000550_1.html Former West Bengal Finance Minister Amit Mitra and Telangana Industries Minister K T Rama Rao had earlier urged the Centre to roll back
