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Monday, May 13, 2024
TopicGST

Topic: GST

Rs 150 cr cash seized from Kanpur businessman’s home in ‘biggest recovery by indirect tax board’

Businessman Piyush Jain is the owner of Trimurti Fragrance, which is the parent organisation manufacturing Shikhar Pan Masala and tobacco-based products. 

India’s GST revenue crosses Rs 1.31 lakh cr in Nov, 2nd highest collection since rollout

The highest GST collection was in April 2021 when numbers hit Rs 1.41 lakh crore. Last month's revenue has been 25% higher than November 2020 and 27% higher than November 2019.

Modi govt committed to compensate state for 5 years for loss due to GST rollout: Sitharaman

Sitharaman said Rs 37,134 crore and Rs 14,664 crore worth GST compensation is yet to be released to states for 2020-21 and 2021-22 fiscal years.

Modi govt releases balance of Rs 44,000 crore to states to compensate for GST shortfall

With the release of Rs 44,000 cr, the total amount released in the current fiscal year as back-to-back loan in-lieu of GST compensation is Rs 1.59 lakh cr, the finance ministry said.

GST law brought a drastic change. But only a digital GSTAT can be the model for tribunals

The GSTAT would be outside the GST authorities' control. It can protect taxpayers’ rights and revenue interests of the govt.

Modi govt could consider higher GST, fewer rates to simplify structure

Currently, GST has four tax slabs: 5%, 12%, 18% and 28%. The two lowest rates could be raised by a percentage point each to 6% & 13%, respectively.

India’s GST collection hits 5-month high in September at Rs 1.17 lakh crore

The tax collections has remained above Rs 1 lakh crore for the third consecutive month. The last highest revenue was recorded in April when collections reached Rs 1.41 lakh crore.

Ministerial panels set up to review tax slabs, GST exempt list, identify evasion sources

The 7-member panel set up by finance ministry would be headed by Karnataka CM Basavaraj Bommai, & include Bengal FM Amit Mitra, Kerala FM Balagopal, Bihar Deputy CM Tarkishore Prasad.

GST Council levies 5% tax on food delivery apps, extends concessional rates on Covid drugs

Finance Minister Nirmala Sitharaman also said the Council decided that it was not the right time to include petroleum products within the GST ambit.

77% Indians want petrol & diesel to come under GST, survey finds

The survey comes ahead of the GST Council meeting Friday, which is likely to discuss bringing petrol, diesel and other petroleum products under the GST ambit.

On Camera

5 reasons behind Kejriwal’s googly at PM Modi, probable successors Amit Shah and Yogi

By raising the now-disputed age ceiling purportedly fixed by PM Modi in 2014 and wading into the succession debate, the AAP’s national convenor is seeking to kill five birds with one stone.

Brokerages & hedge funds make a killing as India’s inexperienced youth flocks to the equity market

Indians aged 20-30 are trading in options market in droves, but know nothing about it & so keep losing money. If losses mount, it could undo gains India saw in investment culture, analysts fear.

Pensionless Maha Vir Chakra awardee who trained Mukti Bahini continues to fight for rights

Chiman Singh, injured in 1971 India-Pakistan war, was discharged as non-pensioner in 1972. In his petition, he states denial of pension is contrary to settled law.

What’s common between Netflix Chamkila and Trudeau’s trouble-infested Canada? They don’t get Punjab

Even in the weeks leading up to Chamkila’s assassination there were massacres every other day. To airbrush all of this is sheer intellectual cowardice if not a crime.