[ad_1] NEW DELHI: Income tax payers should file their return as soon as possible, as the government is not planning to extend the July 31 deadline.Revenue Secretary Sanjay Malhotra told PTI in an interview that he expects the filing to be higher than last year and hopes that it will exceed the 5.83 crore returns … Read more
[ad_1] The tweak in the definition of an SUV for attracting a cess over and above the GST rate will provide clarity on the taxation structure for utility vehicles, ensuring that the rate entry is more precise leaving little room for interpretation on the ambit of ground clearance, auto industry experts said on Tuesday. The … Read more
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[ad_1] 28 per cent tax would be levied on the full face value of bets. (Representational) New Delhi: The all-powerful Goods and Services Tax (GST) Council on Tuesday decided to impose a 28 per cent tax on the turnover of online gaming companies, horse racing and casinos, Finance Minister Nirmala Sitharaman said. The panel, headed … Read more
[ad_1] The GST Council, chaired by the Union finance minister and comprising her state counterparts, had in December last year clarified on the definition of SUVs. The GST Council is likely to clarify on the definition of multi utility vehicles (MUVs) and crossover utility vehicles (XUVs) The GST Council is likely to clarify on the … Read more
[ad_1] NEW DELHI: Finance minister Nirmala Sitharaman on Saturday said GST implementation has brought relief to the common citizens and helped raise revenues of the Centre and the states as her ministry reported that gross GST revenues in June rose 12% to Rs 1.6 lakh crore.Data released by the finance ministry showed that gross GST … Read more
[ad_1] GST collection had touched a record high of Rs 1.87 lakh crore in April. (Representational) New Delhi: GST collections rose 12 per cent to over Rs 1.61 lakh crore in June, the Finance Ministry said on Saturday. The gross GST collection has crossed Rs 1.6 lakh crore mark for the fourth time since the … Read more
[ad_1] NEW DELHI: The gross Goods and Services Tax (GST) revenue collected in June 2023 was ₹1,61,497 crore, 12% higher than in the same month last year, according to data released by the finance ministry on Saturday.Out of the gross GST collected, Central Goods and Services Tax (CGST) comprised ₹31,013 crore, State Goods and Services … Read more
[ad_1] Published By: Nibandh Vinod Last Updated: July 01, 2023, 06:45 IST GST was proposed in India in 2000 but took over 17 years to be implemented. (Image: Shutterstock) The Goods and Services Tax (GST) idea was first proposed in India in the early 2000s to simplify the complex tax system GST DAY 2023: India … Read more
[ad_1] MUMBAI: The Maharashtra bench of the GST-Appellate Authority for Advance Rulings (AAAR) has held that the incentive earned by the reseller, from a US entity, is not in the nature of a ‘trade discount’. In other words, the reseller will have to bear a goods and services tax (GST) of 18% on such an … Read more