2023-12-06 11:29:53 Central tax officers have sent around 33,000 GST notices to businesses for discrepancies in returns filed and short payment of taxes in 2017-18 and 2018-19 financial years, a CBIC official said on Wednesday. The National Co-ordination Committee of the State and Central GST officers, chaired by the Revenue Secretary, is likely to be … Read more
2023-11-08 16:09:03 NEW DELHI: The robust goods and services tax (GST) collection in October was driven by strong economic activities and improved compliances, and not by any mop-up from tax notices sent to online gaming companies, Central Board of Indirect Taxes and Customs (CBIC) chairman Sanjay Kumar Agarwal said on Wednesday. Speaking on the sidelines … Read more
2023-11-01 13:07:43 GST collections increased 13 per cent to Rs 1.72 lakh crore in October, the second highest-ever, helped by momentum in the economy, efforts of taxmen in checking evasion and festive demand. “GST revenue collection for October 2023 is second highest ever, next only to April 2023, at Rs 1.72 lakh crore; records increase … Read more
2023-10-01 10:17:39 India’s goods and services tax collections grew to Rs 1.63 lakh crore in September, up by 10 per cent on a year-on-year basis, the Finance Ministry said in a statement on Sunday. It is for the fourth time that the gross GST collection has crossed Rs 1.60 lakh crore mark in FY 2023-24. … Read more
2023-08-22 10:06:24 Economic Advisory Council to the Prime Minister Chairman Bibek Debroy on Tuesday said the government was losing revenue due to the GST, which should be revenue neutral with a single rate. Speaking at an event organised by the Calcutta Chamber of Commerce here, he however said that GST has led to a lot … Read more
2023-07-25 13:27:17 The Centre has devolved over Rs 3.09 lakh crore to states till July of the Rs 10.21 lakh crore budgeted to be transferred in the current fiscal, Minister of State for Finance Pankaj Chaudhary said on Tuesday. “Out of Rs 10.21 lakh crore estimated to be transferred to states for the FY 2023-24, … Read more
2023-07-01 13:45:23 Finance Minister Nirmala Sitharaman on Saturday said Goods and Services Tax (GST) has helped bring down the taxes for consumers by removing the cascading effect of ‘tax-on-tax’ and added to the revenue buoyancy of states. She said the GST system has seen massive scaling up since its implementation on July 1, 2017, and … Read more
2023-06-13 17:35:45 A nationwide crackdown by the Goods and Services Tax authorities uncovered tax evasion to the tune of ₹30,000 crore, allegedly carried out via stolen identities including as many as 18,000 Permanent Account Number (PAN) and Aadhaar cards, people familiar with the development said. The identities of beneficiaries of PM Kisan and other social … Read more