[ad_1] Central GST officers detected tax evasion of over ₹1.88 lakh crore between April and December 2024, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha on Monday (February 10). Company Value Change %Change The evasion, including cases of fraudulent Input Tax Credit (ITC), was identified across 72,393 instances during the period. Authorities […]
Zomato gets nearly ₹6 crore relief as GST authorities drop tax demand – CNBC TV18
[ad_1] In relief for the food-tech major Zomato, the company updated stock exchanges that it has received a favorable ruling from the Commissioner (Appeals), Gurugram, Haryana, which set aside a ₹5.91 crore goods and services tax (GST) demand raised by the Additional Commissioner of CGST, Gurugram. The demand, covering July 2017 to March 2021, included […]
Overall a welcome budget, but a GST waiver on lifesaving drugs would have been ideal: Kiran Mazumdar-Shaw – CNBC TV18
[ad_1] The waiver of basic customs duty for many life-saving drugs for cancer, rare diseases and chronic diseases announced in the Union Budget is an important step towards reducing the cost of treatment for patients and is a welcome move. However, in order to truly benefit patients on a large-scale, exemption of GST on such […]
Health insurance premiums may drop for policies with up to ₹5 lakh cover for non-senior citizens: Sources – CNBC TV18
[ad_1] The Group of Ministers (GoM) has proposed removing the goods and services tax (GST) on health insurance premiums for non-senior citizens with coverage up to ₹5 lakh, according to sources. It has proposed a 5% GST against the current 18% for premiums on health covers above ₹5 lakh, the sources added. The panel has […]
GST rate rationalisation: GoM may propose a 35% ‘special rate’, rejig likely for over 148 items, say sources – CNBC TV18
[ad_1] In what could mark a significant overhaul of the GST rate structure, the Group of Ministers (GoM) on rate rationalisation is likely to propose the creation of a new “special rate” of 35%, alongside a rejig of rates for several items. Sources told CNBC-TV18 that the GoM, in its meeting today, decided to propose […]
Ambedkar and Equity in GST— why tax funds must be used effectively to reduce social and economic inequality – CNBC TV18
[ad_1] As we observe yet another Constitution Day it will be useful to recall the prescient words of Dr.B.R.Ambedkar, universally acknowledged as the father of the Indian Constitution. In his speech made on the eve of the adoption of the Constitution on 25 Nov 1949 in the course of the debates, he inter alia said: […]
New GST form notified to help taxpayers adjust tax demand amount: Here’s how to use – CNBC TV18
[ad_1] The Goods and Services Tax Network (GSTN) recently launched Form GST DRC-03A, a new tool on the GST portal designed to help taxpayers manage their tax demands. This form is ideal for taxpayers who have already made payments using the DRC-03 form but need to apply these payments directly to a specific GST demand […]
Real estate GoM meets on Sept 24 in Goa to discuss GST levy on properties – CNBC TV18
[ad_1] As the government gears up for the 55th GST Council meeting, likely to take place in November 2024, the council’s nominated Group of Ministers (GoM) has begun holding meetings. The GoM on “boosting the real estate sector under GST,” headed by Pramod Sawant, Chief Minister of Goa, is scheduled to meet on September 24. […]
54th GST Council meeting likely to ease burden for property buyers, cancer patients, and other sectors, say sources – CNBC TV18
[ad_1] The 54th GST Council, slated to meet on September 9 in New Delhi, is expected to bring some relief for property buyers and the real estate sector. Sources say that “the Council is likely to issue clarity on a host of subjects related to the real estate sector. These could include any charges paid […]
CEA: Urgent need to align GST data with India’s national statistics to understand consumption better – CNBC TV18
[ad_1] The Finance Ministry has pitched for the goods and services tax (GST) data to be more aligned with the official statistics in the country, on a rather urgent basis. The Chief Economic Advisor to the Finance Ministry, V Anantha Nageswaran, says the union government needs to understand and dissect consumer choices, spending, the urban-rural split, […]