Tag Archives: Tax on goods and services

In order to encourage the new optional income tax regime introduced in the last Budget, the government proposes to modify the list of eligible refunds and exemptions to allow some more categories of financial saving instruments for taxpayers. The emerging vision in the discussions in the run-up to the Union …

NEW DELHI: GST Collections hit a record high of over Rs 1.15 lakh crore in December, reflecting festive demand and a renewed economy. GST gross revenue collected in December 2020 is Rs 1,15,174 crore and is the highest since the introduction of Tax on goods and services since July 1, …

The new rule that requires companies with a monthly turnover of more than 50 lakh to pay at least 1% of their liability net of goods and services tax (GST) in cash will not affect small businesses and the payment Cash is calculated on the basis of the tax component …

The GST General Directorate of Intelligence (DGGI), Nagpur, has found fraudulent transactions of Rs 290.70 million, including a bogus Input Tax Credit (ITC) of Rs 25.22 million, after searches on a private company and one person has been arrested, an official said. Monday. According to a DGGI release, a Mumbai-based …

All states and territories in the Union have decided to opt for the first option offered by the Center to cover the revenue shortfall arising from the implementation of the Goods and Services Tax (GST) and Jharkhand becomes the latest state to join the list, the government said Saturday. . …

Chhattisgarh is the latest state to accept the Center’s loan option of Rs 1.1 lakh crore to cover the deficit of the Goods and Services Tax (GST) in 2020-21, making Jharkhand the only dissident. “The Chhattisgarh government has communicated its acceptance of Option-1 to cover the revenue shortfall arising from …

Of the total collection, the government obtained a CGST of Rs 19,189 crore, SGST of Rs 25,540 crore, IGST of Rs 51,992 crore and Cess of Rs 8,242 crore. The government raised GST revenue of more than Rs 1 lakh crore per second consecutive month in November 2020. GST collections …

The GST Directorate General of Intelligence (DGGI) has so far arrested 59 people, including three public accountants (CA), in 10 days of its national campaign against the submission of false invoices for goods and services tax (GST). According to people familiar with the events, Mitesh M Shah, whom the DGGI …

The Kerala government canceled a meeting on Saturday to discuss legal options to resolve the goods and services tax (GST) offset problem with the Center, days after the Union’s finance minister, Nirmala Sitharaman, clarified that the central government will borrow ₹ 1.1 lakh crore from the market. on behalf of …

Kerala’s government canceled its high-level meeting to discuss a legal option to solve the goods and services tax (GST) problem on Saturday, days after the Union’s finance minister, Nirmala Sitharaman, said the government central will borrow 1.1 lakh crore from the market. on behalf of the states and pass them …