There is encouraging news for the government on the tax front with an increase in revenues from the Goods and Services Tax (GST) and other
Category: GST
GST collections: Is Rs 1.15 lakh crore a reason to celebrate? – The Financial Express
Clipped from: https://www.financialexpress.com/opinion/gst-collections-is-rs-1-15-lakh-crore-a-reason-to-celebrate/2165047/ The stimulus partly ensured GST monthly targets got overachieved in the last three months, but should we be doing better? By Madan Sabnavis
Fake invoicing under GST: What happens after govt catches you for issuing fake invoice? – The Financial Express
Clipped from: https://www.financialexpress.com/economy/fake-invoicing-under-gst-what-happens-after-govt-catches-you-for-issuing-fake-invoice/2165626/ The GST Fake invoices frauds are largely carried out by the non-existent taxpayers & by using a network of firms set up to
Firms face I-T heat over GST evasion charges; L&T, Zee offices ‘surveyed’ | Business Standard News
Clipped from: https://www.business-standard.com/article/companies/firms-face-i-t-heat-over-gst-evasion-charges-l-t-zee-offices-surveyed-121010500050_1.html?utm_source=Spotlight&utm_medium=website&utm_campaign=Newsletter_11072018 The crackdown is part of coordinated action against thousands of entities identified by the Directorate General of GST Intelligence, which recently shared the
GST’s high point | Business Standard Editorials
Clipped from: https://www.business-standard.com/article/opinion/gst-s-high-point-121010501344_1.html More than recovery, better compliance has improved collection Goods and services tax (GST) collection reached a record Rs 1.15 trillion in December, witnessing a
Mixed picture: December GST collection is encouraging. But a quick recovery is uncertain–times of india
Clipped from: https://timesofindia.indiatimes.com/blogs/toi-editorials/mixed-picture-december-gst-collection-is-encouraging-but-a-quick-recovery-is-uncertain/TOI Edit Times of India’s Edit Page team comprises senior journalists with wide-ranging interests who debate and opine on the news and issues of
Tax collection of States on recovery mode? – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/opinion/tax-collection-of-states-on-recovery-mode/article33495184.ece Compared with Q1, the 4 southern States have shown impressive upturn in GST, sales tax and excise duty mop-up in Q2 As a
Finally, GST begins to work as planned–economic times
Clipped from: https://economictimes.indiatimes.com/blogs/et-editorials/finally-gst-begins-to-work-as-planned/ET Edit Quick takes, analyses and macro-level views on all contemporary economic, financial and political events. Finance Secretary Ajay Bhushan Pandey attributes the spurt
Indirect taxes: India’s tax pie gets altered because of pandemic; share of direct taxes drops – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/indias-tax-pie-gets-altered-because-of-pandemic-share-of-direct-taxes-drops/articleshow/80095610.cmsSynopsis The share of indirect taxes, which mainly comprise of levy on goods and services as well as import duty, has risen while that
GST Collections: 4 reasons why GST collections hit record high in December – The Economic Times
Clipped from: https://economictimes.indiatimes.com/markets/expert-view/4-reasons-why-gst-collections-hit-record-high-in-december/articleshow/80099278.cmsSECTIONS4 reasons why GST collections hit record high in DecemberLast Updated: Jan 04, 2021, 06:36 PM ISTSynopsis While we are going into the recovery
GST compliance may increase the burden for small firms this year – The Economic Times
Clipped from: https://economictimes.indiatimes.com/small-biz/gst/gst-compliance-may-increase-the-burden-for-small-firms-this-year/articleshow/80090643.cmsSynopsis Small businesses have so far enjoyed certain compliance relaxations during the GST transition period, however, the revenue loss to the Government during COVID
A tortuous recovery: The Hindu Editorial on record GST inflows – The Hindu
Clipped from: https://www.thehindu.com/opinion/editorial/a-tortuous-recovery-the-hindu-editorial-on-record-gst-inflows/article33488173.ece Record GST inflows in December augur well, but the economy is still in a flux For a fiscally strapped government, scrambling to arrest
Government ropes in I-T department to crack down on GST fraud – The Hindu
Clipped from: https://www.thehindu.com/business/Economy/government-ropes-in-i-t-department-to-crack-down-on-gst-fraud/article33488214.ece?homepage=true Data being pooled to track evasion, says Finance Secretary. Tightening the noose around fraudsters rigging the Goods and Services Tax (GST) regime, the
Revamped ecosystem will generate higher growth, goods and services tax, employment and exports – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/spin-llps-to-hear-richer-music/articleshow/80085474.cms Synopsis–Most MSME units were mainly operating as partnership firms, and some as limited liability partnerships (LLPs), or private companies. The Atmanirbhar Bharat scheme,
GST officials detect over Rs 830 cr tax evasion by Delhi-based pan-masala manufacturing unit – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/gst-officials-detect-over-rs-830-cr-tax-evasion-by-delhi-based-pan-masala-manufacturing-unit/articleshow/80081806.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis The firm was evading the payment of Goods and Services Tax (GST) by manufacturing and clandestinely supplying gutkha/pan masala/tobacco products without any registration
Government crackdown on 7,000 GST evaders, 185 arrested – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/policy/government-crackdown-on-7000-gst-evaders-185-arrested/articleshow/80083982.cmsSynopsis The government netted a record GST collection of Rs 1.15 lakh crore in December 2020, helped by the action against tax evaders alongside
6.03 crore GST e-invoices generated in December 2020 – The Economic Times
Clipped from: https://economictimes.indiatimes.com/news/economy/finance/6-03-crore-gst-e-invoices-generated-in-december-2020/articleshow/80072727.cms?utm_source=ETTopNews&utm_medium=HPTN&utm_campaign=AL1&utm_content=23Synopsis Notably, the e-way bill generation from the National Informatics Centre (NIC) developed e-way bill system is also highest during September to December 2020
अर्थव्यवस्था रुळावर ; डिसेंबरमध्ये जीएसटीमधून सरकारला आतापर्यंतचे विक्रमी उत्पन्न –महाराष्ट्र टाइम्स
Clipped from: https://maharashtratimes.com/business/business-news/december-gst-revenue-at-record-level/articleshow/80061914.cms यापूर्वी सर्वाधिक जीएसटी संकलन एप्रिल २०१९ मध्ये जीएसटीमधून १, १३, ८६६ कोटी रुपये कर महसूल मिळाला होता. मात्र डिसेंबरमध्ये त्याहून अधिक म्हणजे १.१५
December 2020 GST collections touch all-time high at Rs 1.15 lakh crore – The Economic Times
Clipped from: https://economictimes.indiatimes.com/industry/banking/finance/december-2020-gst-collections-touch-all-time-high-at-rs-1-15-lakh-crore/articleshow/80058495.cmsSynopsis Compared to December 2019, collections are 12% higher, underlining the trend of economic recovery amid the Covid 19 pandemic and in line with
Video | ‘Need a dedicated SC Bench or Tribunal to resolve GST disputes’ – The Hindu BusinessLine
Clipped from: https://www.thehindubusinessline.com/multimedia/video/knowledge-series/video-need-a-dedicated-sc-bench-or-tribunal-to-resolve-gst-disputes/article32707767.ece To tackle GST-related disputes, India must go in for a special Bench at the Supreme Court level or a dedicated GST Tribunal, S
