“It is mandatory on our part to amend the Arunachal Pradesh Goods & Services Tax Act, 2017 as done by the central government and other state governments by enacting the Arunachal Pradesh Goods & Services Tax (Amendment) Bill, 2023,” he said.
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The Anti-Corruption Bureau (ACB) on Tuesday arrested a tax inspector while allegedly accepting a bribe of Rs 10,000 from a complainant at State Goods & Services Tax (GST) Commissioner’s office here.
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Union Finance and Corporate Affairs Minister Nirmala Sitharaman said technology is a powerful tool for building an inclusive, resilient and sustainable financial eco-system and called for global cooperation and collaboration, which she said, is absolutely critical for a responsible financial eco-system.
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The Supreme Court on Wednesday stayed a Karnataka High Court verdict passed in May this year that quashed a notice issued by the Goods and Services Tax (GST) department claiming Rs 21,000 crore in dues from online gaming company Gameskraft. [Directorate General of Goods and Services Tax Intelligence and Ors v. Gameskraft Technologies Private Limited and Ors]
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Punjab finance minister Harpal Singh Cheema on Tuesday said the state government has recorded a growth of 28.2% in goods and services tax (GST) revenue during the first five months of the current fiscal year 2023-24 as compared to the last fiscal year.
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Karnataka AAR has ruled that such sops should be classified as ‘supply’ and be subject to GST. Tax experts said the judgment contradicts previous court verdicts on similar cases. That apart, since such incentive schemes are very common across companies, a clarification from GST Council would allay industry concerns, they added.
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The CBIC, GST-Investigation Wing vide GST/INV/Provisional Attachment/Advisory/2023-24 dated September 02, 2023 has issued the procedure to be followed with respect to sub-section (2) of section 83 of CGST Act, 2017 when provisional attachment of property ceases to have effect.
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Atleast 6 digit HSN code in the e-Invoices and e-Waybills and other taxpayers shall use atleast 4 digit HSN code in E-Invoices and E-Way Bills.
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The CBIC vide Notification No. 02 /2023-Central Excise (N.T.) dated September 04, 2023 has issued the amendments in the Central Excise Act, 1944, based on section 2(b) and rule 3 of the Central Excise Rules, 2017. These amendments affect the Notification No. 13/2017-Central Excise (N.T.) dated June 09, 2017 and pertain to Table II within that notification.
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The central government launched the Mera Bill Mera Adhikaar scheme on September 1, in an effort to encourage customers to ask for bills for all purchases. The scheme’s objective is to create a cultural and behavioural shift in people, encouraging them to request a bill as their right and entitlement.
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As per the recent tweet by ET Now state that the government has initiated preparations for the Union Budget 2024-25, which will serve as an interim budget for the current government. The Finance Ministry has requested all ministries and departments to submit their estimates and relevant information to the budget division in preparation for this upcoming budget cycle.
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Kerala had reported a steady increase in GST revenues in the first quarter of 2023-24, a trend which is visible in the second quarter too. The State had recorded 10% growth in GST revenues in July 2023 over the previous July. The collection for July 2023 stood at Rs 2,381 crore against Rs 2,161 crore the previous July.
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Consumption, clubbed with inflation and compliance, boosted GST collection in key States between February and July of this calendar year. Most of these States have recorded double-digit growth, with Maharashtra maintaining the lead over all States not just in terms of collection but also in growth.
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An inspector with the state sales tax department allegedly threatened and attempted to extort Rs 15 lakh from a judge of the Goods and Services Tax (GST) tribunal in Maharashtra’s Nagpur, police said on Sunday.
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Businessmen registered on the GST network portal in Punjab’s Bathinda must display their GST number at their premises otherwise they will face a fine of up to Rs 50,000, according to the Central Board of Indirect Taxes and Customs (CBIC).
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“As the levy on the components is at 18% or above, the need is that the levies should at least be below the 18% slab. The recommendation to the finance ministry would be for bringing these items in the 5% slab as suggested by the stakeholders,”
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Gujarat’s GST collection was the third highest in India, following Maharashtra (Rs 23,282 crore) and Karnataka (Rs 11,116 crore). The state’s tax collection growth rate outpaced the national average of 11% for August, when the country collected Rs 1.14 lakh crore in taxes.
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Around 200 firms, including McDonald’s India, L’Oreal, Colgate Palmolive, Castrol, Saint-Gobain, Whirlpool, Mastek, and Domino’s Pizza, have received notices from state authorities seeking tax under the pre-Goods and Services Tax (GST) regime,
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The gross GST revenue collected in the month of August, 2023 is Rs 1,59,069 crore of which CGST is Rs 28,328 crore, SGST is Rs 35,794 crore, IGST is Rs 83,251 crore (including Rs 43,550 crore collected on import of goods) and Cess is Rs 11,695 crore (including Rs 1,016 crore collected on import of goods).
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The notification said that the imports of LPG, liquified propane and liquified butane have been fully exempted from the Agriculture Infrastructure Development cess (AIDC) effective September 1, 2023.
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Dr. V. Anantha Nageswaran, Chief Economic Adviser (CEA), Ministry of Finance, said that at 7.8% year on year, India’s growth rate towers above the growth rate in several other leading economies. India’s economic growth maintained the strong momentum witnessed in the final quarter of FY23
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